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SpaceX buys xAI to unite crucial parts of Musk’s empire

Rocket company and AI model builder to combine as billionaire envisions data centres in space

Losses in precious metals follow record-breaking rally

Data intelligence group predicts 61% boost in sales this year

Also in today’s newsletter: US to launch $12bn critical minerals stockpile, and Ikea closes seven big stores in China

Democrats have refused to fund the Department for Homeland Security after the killing of protesters in Minnesota

British chancellor participates in talks with the bloc focused on resetting relations between the two sides

Prime Minister Sébastien Lecornu resorts to a special constitutional power in order to tackle deficit

Metropolitan Police announces move after revelations former minister leaked confidential information to sex offender

Company’s huge bet on AI has prompted investor concerns about the sustainability of its spending

With oil prices stagnant and development costs high, investors seem none too impressed by this all-stock deal

Levies will drop from 50% to 18% as US president claims New Delhi will buy more than $500bn of American goods

Keir Starmer orders inquiry into former business secretary’s conduct during his time as minister

Regional powers brokering meeting in attempt to avert new conflict in Middle East

Hedge fund boss was barred from sector over response to allegations of sexual harassment and assault

Prosperity and security will be driven by removing unnecessary barriers that hold businesses back

As boycotts spread, the US is discovering the price of being politically unpopular

British conductor Alexander Soddy took the final part of Milan’s new Wagner production to exhilarating heights

Vladimir Motin on duty when his vessel hit tanker carrying fuel for US military

Energy prices reverse recent gains on easing geopolitical concerns and warmer weather outlook

President’s power play bodes badly whether it is a sign of strength or weakness

AI is a natural technology for the industry, but traders and investors still need to stress-test strategies with experts

The artist’s deft, arresting sketch is set to make at least $15mn for a wild cat charity

Take part in a live Ask an Expert Q&A with US managing editor Brooke Masters and US financial commentator Robert Armstrong on Thursday February 5

As the US redeploys its navy and alienates allies, Beijing is filling the void