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Ad ban for lab gems is diamonds’ best friend

UK watchdog rules jewellers cannot use ‘diamond’ in isolation in synthetic stones’ adverts

Also in today’s newsletter: US Treasury secretary meets Japanese PM, and Sam Altman testifies in OpenAI trial

PM due to hold crunch meeting with health secretary Wes Streeting after challenging rivals to launch leadership bids

Lawyer Kyle Diamantas appointed FDA’s acting leader as concerns mount over hantavirus outbreak

Lawmakers demand answers as mounting cost of conflict weighs on the economy

Tencent and Alibaba left behind as investors focus on pure AI plays

Robert Armstrong speaks to John Foley

The FT News Briefing podcast series travels to Pennsylvania to better understand life in Trump’s America

April figure marks highest level in three years as effects of conflict reverberate through world’s biggest economy

What happens when a small company tries to buy a big company

UK investment trust’s valuation means its holding in Elon Musk’s company is worth £3bn

Start-up’s CEO takes the stand in legal battle with billionaire

Prime minister tells cabinet colleagues he is getting on ‘with governing’

Some in City fear a more leftwing officeholder could herald greater spending and a possible relaxation of fiscal rules

First minister’s pro-independence party considers options for governance after falling short of majority in Holyrood election

Carmakers seek tie-ups with Chinese groups and traditional rivals to secure scale and technology

FTSE 100 company has rejected previous EQT takeover offers saying they undervalued it

Fund it operates took in fraction of capital from year-ago level as worries mount over potential surge in loan defaults

What happened after the pandemic is an imperfect guide for the latest shock

Failure to oust past leaders suggests that internal rules are stacked against challengers

Carefully designed homes in Tanzania have been shown to lower disease rates among children

Thirty-year gilt yield at highest this century as cabinet ministers pressure PM to consider his position

Cove Kaz Capital has already secured up to $1.6bn in government support for project in Kazakhstan