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The Latest Breaking News from the Financial Times

Mastercard explores sale of UK payments subsidiary Vocalink, FT reports

LONDON - Mastercard is exploring the sale of a majority stake in its UK ‌payments subsidiary Vocalink back to British banks as it responds to concerns about a critical asset being under US ownership, the Financial Times reported on Monday citing ⁠people briefed on the talks.

Bangkok Post

Tencent is reportedly in talks to acquire Manus from Meta, following Beijing intervention — company expects to remain independent of Chinese tech giant

Tencent is in talks with Manus and other investors to raise the $2 billion needed to buy back the startup from Meta. Beijing ordered the two companies to unwind the deal six months after the surprise announcement of its purchase.

Tom’s Hardware

Truce and fire: The ghost of Versailles haunts Trump. But is Iran overplaying its hand?

President Trump declared the June 17 ceasefire with Iran over, ordering fresh US strikes. Iran responded by targeting tankers in the Strait of Hormuz, escalating tensions. The conflict's tempo is now largely controlled by Iran's ability to disrupt oil shipments. Both sides face pressures, with neither in a decisive position…

The Times of India

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Tesco 'considering sale of central and European operations'

TESCO is considering the sale of its central and eastern European operations, according to reports

The National (Scotland)

EU to delay new €20 pre-authorisation travel system after border queues

Sources say IT issues affecting new system and long EES border queues have delayed next rollout phase

The Independent UK

HSBC pulls back from risky credit after bankruptcy scare, FT reports

HSBC is reportedly scaling back its involvement in riskier private credit deals, according to the Financial Times. This strategic shift indicates a move towards a more cautious approach in the private credit market, signaling a potential change in the bank's lending appetite for more speculative investments.

The Economic Times

Trump Won't Create AI Regulator, Says Former White House Adviser Sriram Krishnan Amid Data Center Backlash: 'That Is Never, Never Going To Happen...'

Former Senior White House Policy Advisor on Artificial Intelligence Sriram Krishnan said the White House will not create a centralized AI licensing body akin to the Food and Drug Administration.

Benzinga

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Tesla silences critics with knockout EV sales as Elon Musk controversy fades — but it still can't stop BYD from reclaiming the global crown

Tesla posts a record sales period as EV business rebounds, but BYD is still leading the global race

TechRadar

Sam Altman wants to give a 5% OpenAI stake to the US government: Report

OpenAI is reportedly exploring a 5% equity stake for the U.S. government, a move aimed at easing political concerns and fostering ties with the Trump administration. CEO Sam Altman believes this approach would democratize AI's economic benefits. The proposal, which could extend to other major AI firms, seeks to address…

The Economic Times

A Blazy of glory: Meet the millennial fashion titan shaking up Chanel for a new era

IN FOCUS: Matthieu-mania is taking over the fashion world, as those in the know clamour to buy the first collections from Chanel’s new unassuming creative director. Katie Rosseinsky explores his rise and rise

The Independent UK

US in talks with AI companies for voluntary model standards

The U.S. government is in advanced talks with AI companies to create voluntary standards for the release of new models, with an announcement possible as soon as next week, the Financial Times reported on Wednesday, citing sources.

The Economic Times

VW Doesn't Deny It's Looking To Sell Ducati In Official Statement

A recent report states that financial advisors are telling Volkswagen to sell off Ducati in order to help its financial position. Volkswagen has now commented on the subject, but didn't deny the report or its contents.

RideApart

'Cloak of secrecy' surrounds plane that crashed into Beijing skyscraper

PRESS REVIEW – Wednesday, July 1: Papers discuss a story from China that has flown under the radar: a plane crashed into the tallest building in Beijing in unclear circumstances. Next: why was "controversial figure" Vadim Ermolaev targeted in Monaco? Also: could Ireland become the next summer holiday hotspot? Finally,…

France 24

Apple seeks RAM from blacklisted Chinese company as memory shortage impacts everything — but it may not be enough

Apple is attempting to solve supply issues with a new memory supplier for its upcoming iPhones but it may not be enough.

Tom’s Guide

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RideApart

Volkswagen May Be Looking to Sell Ducati: Report

Volkswagen's current financial situation is one that's teetering, with mass layoffs, price cuts, and slashes to existing lineups across its brands. A new report hints at the brand potentially selling off its other holdings, including Ducati.

Tom’s Hardware

Apple reportedly lobbies Uncle Sam for access to Chinese memory chips — tech giant allegedly wants to buy from blacklisted CXMT

Following a historic price hike, the Financial Times reports that Apple is lobbying in Washington to secure approval to buy cheaper RAM from CXMT. The manufacturer is currently designated as a Chinese military company, but is not entirely banned by the White House.

The Independent UK

Green Party forced to return Zack Polanski’s donation on legal grounds

Greens become first major party blocked from receiving donations from its own leader

The Times of India

Italy’s electoral rules may change before polls: Why Meloni’s proposal has triggered row

Italian Prime Minister Giorgia Meloni is pushing a controversial electoral reform, introducing a "majority prize" for winning coalitions. Opposition parties decry it as an "authoritarian" power grab, designed to secure her party's dominance. The proposed law, reminiscent of a past system struck down by the Constitutional Court, aims for political…

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Euronews

European defence IPO: KNDS lays out listing plans that could value it at up to €15bn

The Franco-German manufacturer behind the Leopard and Leclerc battle tanks, KNDS, has officially announced its plans for an IPO, listing shares in Paris and Frankfurt within weeks, capitalising on Europe's race to rebuild its military capacity.

The Times of India

New regime over Hormuz? How Iran seeks to tighten control after US peace deal

Iran's new Strait Authority is mandating insurance for ships in the Strait of Hormuz, raising fears of future passage fees. While currently free, this move follows a 60-day interim agreement to restore traffic. Observers suggest Iran is establishing a new regulatory framework, potentially challenging international maritime law. Discussions with Oman…

The Economic Times

Air India at a crossroads as Tata weighs Nipun Aggarwal, Vinod Kannan for next CEO, says report

Air India's leadership race is heating up with Nipun Aggarwal and Vinod Kannan as top contenders to steer the airline through turbulent times. Aggarwal, a key figure in its transformation, faces scrutiny over global experience, while Kannan brings proven leadership from Vistara. The decision, however, is complicated by internal power…

Fortune

OpenAI’s balance sheet remains the most mysterious—and consequential—in business

A combination of blogger Ed Zitron and the Financial Times reported that OpenAI’s 2025 financials look, well, pretty rough.

Euronews

Patriot, IRIS-T, Flamingo: Germany's long-range weapons gap

Global shortages of Patriot missiles are putting air defence systems under pressure. Germany's IRIS-T offers one answer, but Berlin still lacks the long-range firepower needed for deep strikes.

The Economic Times

Inside KPMG's AI report scandal: False claims, bogus case studies and hallucinated success stories

KPMG has retracted a global report after major organizations like UBS and the NHS denied claims of using AI for operational transformations. The report, which contained fabricated case studies and AI-generated inaccuracies, was flagged by GPTZero and the Financial Times. An internal investigation is underway as the firm faces scrutiny…

The Economic Times

Trump terms $300 billion fund to rebuild Iran as 'fake news'

US President Donald Trump has dismissed claims of Washington paying Iran a massive sum. Reports suggested a $300 billion fund for investment, contingent on Iran's nuclear deal compliance. This fund would be for companies, not direct government payments. Sanctions relief would be phased, linked to Iran's actions. Officials emphasize no…

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