Stocks rebound and yen jumps on signs of intervention
Asian markets soar after days of heavy selling
Big Tech AI spending spree tops $1tn
Google, Amazon, Microsoft and Meta have vastly increased their investments since the AI boom began in 2023
HSBC sells $25bn Australia loan book to Blackstone
Mortgage transfer is latest step in global overhaul of Europe’s biggest lender
Transcript: Is the Fed the referee or the best player?
Katie Martin speaks to Robert Armstrong
Hindustan Unilever results show inflation biting in Indian economy
Also in this newsletter: musical chairs in quick commerce
Donald Trump says Hamas has agreed to disarm over time
US president claims Board of Peace reached breakthrough in Gaza talks
How Leopold Aschenbrenner, the ‘golden child’ of the AI trade, was laid low
The $20bn hedge fund manager’s wild ride ended with a call to Ken Griffin
Anthropic’s Claude AI models hack into 3 outside groups during testing
Start-up discloses breach a week after rival OpenAI reported similar incident
Chinese student high-flyers set sights on police and military academies
Weak economy boosts appeal of institutions that can offer more secure job prospects than even top-tier universities
Half of England in drought
Letter: SEC gambles with our markets by scrapping quarterly reports
From Dennis M Kelleher, Co-founder, President and CEO, Better Markets, Washington, DC, US
Letter: Debunking the idea that housing is all about supply
From Kristian LT Blom, Founder and Chief Investment Officer, Blom Levy & Co, Santa Barbara, CA, US
Letter: Opera isn’t the only arts activity exempt from VAT
From Jean Lang, Dorchester, Dorset, UK
Letter: Headline opportunity
From David Lea, (Lord Lea of Crondall), Crondall, Hampshire, UK
Letter: Books need provenance labelling too, just like food
From Alan Finkel, Executive Chairman, Proudly Human, and Former Chief Scientist, Australia; Melbourne, VIC, Australia
Letter: Stablecoins or tokenised deposits? The jury’s out
From Ignazio Angeloni, Institute for European Policymaking, Bocconi University, Milan, Italy
Letter: The real test is whether invention leads to adoption
From Varun Cruz, Founder, NEUVIOR Pharmaceuticals, London W14, UK
Letter: Capita and the civil service pension debacle
From Graham Percival, Manchester, UK
Trump ‘not sure’ he will let Ukraine build Patriot missiles
US president had earlier said he would allow the country to produce the weapon vital for its defence against Russia
Apple forecasts slower growth as AI build-out strains tech supply chains
CEO Tim Cook says impact of memory prices is set to worsen as he steps down
Rolls-Royce raises 2026 targets after profits beat expectations
Strong demand for UK aero-engine group’s civil and military engines boosts earnings
Japan’s yen jumps 3% as speculation over intervention swirls
Currency on track for one of its biggest moves in recent years amid growing calls for action to arrest slide
FT Crossword: Number 18,440
Amazon increases AI infrastructure spending to $220bn this year
Seattle-based group had in April expected to spend $200bn in 2026