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The Latest Breaking News from FT

Thousands of Lloyds Banking Group staff at risk of losing jobs in push for ‘high-performance culture’

The banking group plans to change how it monitors the performance of its employees and manages staff turnover

The Independent UK

Lloyds to put thousands of staff at risk of dismissal in performance drive

The banking group plans to change how it monitors the performance of its employees and manages staff turnover within the business.

Evening Standard

EU chief Ursula von der Leyen's plane 'hit by Russian GPS jamming attack'

The suspected attack disabled GPS navigation services at a Bulgarian airport forcing the pilot to land the plane using only paper maps

Evening Standard

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Ukraine-Russia war latest: Top EU leader’s plane forced to land blind after suspected Russian GPS jamming

Pilots driving a plane carrying European Commission head Ursula von der Leyen were forced to use paper maps to land

The Independent UK

Ukraine war briefing: Europe drawing up plans for troop deployment; Zelenskyy vows retaliation for drone strikes

Ursula von der Leyen says troops will have backing of US capabilities; Ukrainian president says ‘new deep strikes’ planned on Russia after drone attacks on energy infrastructure

The Guardian - AU

Banks hold FTSE 100 back on windfall tax worry

The FTSE 100 index closed down 29.48 points, 0.3%, at 9,187.34.

Evening Standard

Bankers found out they were being fired after email asking for their laptops to be returned sent by mistake

The error occurred at Australian lender ANZ

The Independent UK

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Trump's First-Term Ban On EUV Tools Stalled Huawei, SMIC, Cambricon — Now China's Chip Factories Are Roaring Back, Warns David Sacks

White House-appointed “Crypto Czar” David Sacks warned Wednesday that Chinese semiconductor manufacturers are surging back despite previous export controls, citing new production data showing China’s chipmakers planning to triple artificial intelligence processor output.

Benzinga

Temu Resumes Direct China-US Shipping, Increases Ad Spend Following Trump Trade Truce That Cuts Chinese Tariffs

Amazon.com Inc. (NASDAQ:AMZN) rival bargain ecommerce platform Temu has resumed direct shipments from Chinese factories to U.S. consumers and boosted advertising spending after a trade truce between Washington and Beijing reduced tariff pressures.

Benzinga

After cancelling 8 of the 12 live service games Sony promised to release by 2025, PlayStation studios boss says the number doesn't really matter: 'What is important to me is having a diverse set of player experiences'

"I don't want teams to always play it safe, but I would like for us, when we fail, to fail early and cheaply."

PC Gamer

Howard Lutnick's 'Insulting' Words Trigger Backlash In Beijing As Regulators Pressure Alibaba, ByteDance To Shun Nvidia Chips: Report

Beijing has reportedly moved to curb sales of Nvidia Corporation's (NASDAQ:NVDA) China-specific AI chip after U.S. Commerce Secretary Howard Lutnick made remarks about export policy that Chinese officials reportedly found "insulting."

Benzinga

Goldman Sachs says we’re on the verge of a stablecoin gold rush worth trillions

U.S. Treasury Secretary Scott Bessent believes stablecoins will buoy the market for U.S. Treasuries, and the government will sell more short-term debt to meet that demand.

Fortune

Sam Altman And OpenAI Target $250M For Neuralink Rival Merge Labs, Escalating Billionaire Feud With Elon Musk Over Brain Implants

Sam Altman, the OpenAI co-founder valued at the center of artificial intelligence's rapid ascent, is preparing a challenge to Elon Musk in the high-stakes brain-computer interface market. Altman is co-founding a new venture, Merge Labs, alongside Alex Blania, the chief executive of World, an iris-scanning digital ID project also backed…

Benzinga

NVIDIA and AMD will pay 15% for the right to sell to China in Trump's AI chip tax — "America cannot repeat 5G and lose telecommunication leadership"

Just a couple of weeks after the US government rescinded the ban on NVIDIA's H20 AI chip sales to China, it was announced that both NVIDIA and AMD will hand over 15% of their revenue from specific AI GPUs in order to receive export licenses.

Windows Central

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Tom’s Hardware

DeepSeek reportedly urged by Chinese authorities to train new model on Huawei hardware — after multiple failures, R2 training to switch back to Nvidia hardware while Ascend GPUs handle inference

DeepSeek’s bid to train R2 on Huawei’s Ascend chips failed due to technical limits, forcing a return to Nvidia GPUs and delaying the launch.

The Guardian - UK

UK tax data reportedly suggests claims of non-dom exodus overblown

HMRC figures appear to indicate departure of high net worth people is in line with OBR predictions, report says

Benzinga

IBM, Google, Amazon, Microsoft Lock Horns In Billion-Dollar Race to Build Million-Qubit Quantum Computers And End A 40-Year Tech Dream

International Business Machines Corp. (NYSE:IBM), Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google, Amazon.com Inc. (NASDAQ:AMZN) and Microsoft Corp. (NASDAQ:MSFT) are intensifying their pursuit of industrial-scale quantum computers, with recent breakthroughs bringing the decades-old dream within reach by 2030.

Kiplinger

July CPI Report Ignites a Risk-On Rally: Stock Market Today

Market participants price out worst-case scenarios for tariffs and inflation and will now turn their attention to employment and growth.

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news in one place.

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Euronews

Half of trucks produced at Scania’s €2bn production site in China will be exported

Scania’s new Chinese production facility will open in October in a bid to reduce costs in the Asian market and stay ‘close to rivals’.

Tom’s Hardware

Nvidia responds to claim China is urging local companies to avoid Nvidia H20 — report claims authorities have sent notices discouraging use, especially for government-related purposes

A new report claims that China is urging local companies to avoid using Nvidia's H20 chip.

Windows Central

“American National Security Principles Are Negotiable for the Right Fee” — Why NVIDIA and AMD Agreed to Pay the US Government 15% of China AI Chip Revenue

Tom’s Hardware

Nvidia and AMD reportedly sharing 15% of their China GPU revenue in exchange for export licenses — 'unprecedented' export revenue sharing deal may have been struck

Nvidia and AMD have reportedly agreed to pay the U.S. government 15% of China-sourced revenues to unlock export licenses for previously restricted chips.

Euronews

Gold futures rise after report Trump has placed tariffs on gold bars

The futures reached a record high on Friday after the US reportedly placed tariffs on imports of one-kilo gold bars.

The Guardian - UK

Gold futures rise to new high after reports Trump has imposed tariffs on one-kilo bars – as it happened

Rolling coverage of the latest economic and financial news

Tom’s Hardware

China semiconductor 'megamerger' strategy reportedly stalling — new report says high-level merger plans to strengthen domestic chip industry face multiple headwinds

Despite China’s push to consolidate its semiconductor sector into a few strong players, efforts have largely stalled due to valuation conflicts, political obstacles, and technological gaps.

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