Jewellery demand helps Richemont buck luxury downturn
Group behind Cartier and Van Cleef & Arpels reports 39% rise in first-half net profit
Chinese AI sell-off deepens over fears of tougher Nvidia chip restrictions
Ousted chief executive Jensen Huang had supported keeping sales open to China
Asics shares slide as sales growth slows at Onitsuka Tiger owner
Analysts fear athleisure’s standout performer may miss annual targets
Microsoft races to restore services after global outage
Issue affecting Outlook, Teams and other services not caused by ‘malicious or cyber activity’, company says
FTAV’s further reading
Huangate; football transfers; WFH; powering data centres; Eurozone debt; cow drugs; and Hartshead Moor East Services
AI agents shouldn’t have to pretend to be us
Service providers from banks to online platforms need to offer a standard channel of access on fair terms
Value Nvidia, not Huang
Plus, sclerotic labour markets
SoftBank’s failed bet on gas turbines for AI drove $3.7bn charge
Japanese group overordered small turbines for US data centres as industry shifted to more energy-efficient models
Ukraine talks call for European speaker despite lack of continental consensus
Also in this newsletter: Retail investment reform gets killed
City of London’s new Lord Mayor to press pension funds on investment pledges
Bronek Masojada, the South African-born former chief executive of insurer Hiscox, is being sworn in on Friday
FirstFT: How Nvidia’s Jensen Huang fell from grace
Also in today’s newsletter: Swiss crypto hub and Europe’s AI boom
Jensen Huang’s Icarus moment
Have AI billionaires been flying too close to the sun?
Transcript: Nvidia after Jensen Huang
Marc Filippino speaks to Tim Bradshaw, James Politi and Kate Duguid
Surging British tech sector helps drive UK economy
Growing adoption of AI believed to be supporting growth, stoking optimism that there could be improvements ahead
Metro Bank’s sale process shows its dog days are over
Private equity firms have circled over the years, but the bank may be less appealing now most of the turnaround work is done
Labour welfare rebels open to backing plan to cut youth benefits
Proposal to be launched next week aimed at helping nearly one million young people not in education, employment or training
Transcript: Europe’s AI story. With Philip Lane
Soumaya Keynes speaks with ECB chief economist Philip Lane
Russia loses almost half a million lives in Ukraine war
Data from statistical agency points to vast toll of progress by Moscow’s forces on a few small fronts
Burberry beats the luxury slump — by not really being luxury
The famous check brand has found a sensible medium
Who killed Britain’s electric car dreams?
Andy Burnham’s government is set to further dilute the target for sales of zero-emission vehicles
How Israel lost America
An alliance that helped define the modern Middle East has reached crisis point
Don’t scoff at the dangers of tokenisation
The obvious response is to create better cyber defences and central bank safety nets for hyper-liquid, high-speed shocks
Vanessa Bell & Duncan Grant: Inside Bloomsbury — a dispiriting guide to how not to paint
The pair had far less effect on British art than claimed, but the painters’ conviction of art’s importance still shines through this Tate Britain show
Where is Europe’s AI boom?
Squint, and it’s showing up in the data