FirstFT: Chip stocks sink as AI sell-off intensifies
Also in today’s newsletter: Powerful earthquake hits Japan and Fifa plans $20bn commercial vehicle
World’s biggest EV battery maker pivots to AI, grids and ships
China’s CATL aims to become market leader for battery energy storage systems
Fifa faces fierce backlash over plans for $20bn commercial stake sale
UK prime minister joins chorus of criticism as football’s governing body holds talks with Trump-linked investment vehicle
Apple tops $5tn valuation for first time
Tech giant gains due to its lack of huge spending on AI and as investors seek havens from sell-off in chip sector
Chip stocks tumble as AI sell-off deepens
Nasdaq 100 briefly falls into correction territory ahead of Big Tech earnings
Transcript: The return of monetarism?
Robert Armstrong speaks to Brendan Greeley
Burnham wants partnership with private sector, says UK business secretary
Jonathan Reynolds tells FT that Starmer government dropped focus on economic growth because of ‘so many priorities’
The return of monetarism?
Former Fed-member Stephen Miran’s plan to fight inflation
Wachtell co-chair who grilled Musk departs for rival Gibson Dunn
Bill Savitt leaves the corporate law powerhouse alongside five other partners
Zelenskyy reports positive Oval Office meeting as Trump shifts towards Ukraine
Kyiv hopes White House talks will result in fresh US backing against Russia
Polish opposition rift hands Donald Tusk pre-election boost
Ex-PM Mateusz Morawiecki prepares breakaway party after dozens of lawmakers expelled from rightwing PiS
Dictator’s daughter Keiko Fujimori takes power in Peru
Conservative daughter of former dictator becomes latest rightwing leader in Latin America
Powerful earthquake hits Japan’s southern Kumamoto prefecture
Reports of multiple deaths from tremor after blast at shopping centre and damage to factories, buildings and infrastructure
Fifa plans $20bn commercial vehicle to lure external investors
Joshua Kushner set to lead investor group as football’s governing body moves to cash in on World Cup
Fire-ravaged France evacuates tourists and braces for new heatwave
Firefighters make progress on blazes that have displaced hundreds of thousands of people
Greens and Reform take a hit from the Burnham bounce
Labour’s recovery appears to have come at the expense of Zack Polanski’s party
Mike Ashley’s Frasers Group builds stake in Burberry
Sports Direct owner discloses 4% position as it strives to establish itself in the luxury market
Ares’ next big private capital deal looks deceptively close to home
While it’s already common to find private equity and credit under the same roof, any tie-up will prove a test of culture
Kering sales return to growth as Gucci slowdown eases
Fashion recovery and strong demand for jewellery and eyewear helped drive improved performance
Ebay pays couple $56mn for its role in cockroach harassment campaign
Couple received threatening deliveries including funeral wreath after criticising ecommerce retailer in blog
The US should stay open to open-weight AI
New and cheaper models could be a boon for the growth of the tech sector
UK charities hit after specialist bank shuts off online services
CAF Bank suspends internet banking after identifying attempted fraud
French shipping group boosted as customers stockpile to beat Trump tariffs
The French container shipping company predicts heightened demand will persist
Children of Wolves — a thrilling tangle of scheming and sexual tension in Istanbul
Lawrence Osborne’s atmospheric page-turner is a tale of sleuthing, rebellious rich kids and darker truths