Gianni Infantino admits ‘mistakes’ over failed $20bn Fifa investment plan
President seeks to move on from saga that undermined world football’s governing body
FirstFT: China launches global tax hunt
Also in today’s newsletter: Google DeepMind CEO Demis Hassabis steps down and Iran says agreement reached with Oman on Hormuz shipping route
‘Toy Story 5’ box office boosts Disney as US theme parks rebound
Shares rise as entertainment group increases buyback plan
US puts $25mn bounty on top Mexican drug cartel leader
Trump administration makes offer for information on Juan Carlos Valencia González as part of package of up to $102mn in rewards
LIV Golf pursues ‘grand bargain’ with Saudi wealth fund and BC Partners
Potential investors seek assurances that the lossmaking tour’s star players will stay on
Iran says it has reached agreement with Oman on Hormuz shipping route
Islamic republic is determined to retain a degree of control over the chokepoint
Big US hedge funds targeted by wave of cyber attacks
Point72 and Citadel among firms hit by audio phishing schemes
Bikemaker Accell files for insolvency four years after €1.8bn KKR-led buyout
Announcement by Dutch owner of Raleigh and Babboe brands follows four difficult years since it was taken private
JPMorgan poaches M&A banker Amy Lissauer from Bank of America
Executive will lead activism defence practice at biggest US lender
Google DeepMind CEO Demis Hassabis steps aside in shake-up of AI lab
Chief scientist Jeff Dean leaves the group to found his own start-up
Badenoch ‘sad’ over former antisemite’s withdrawal as Tory council candidate
Joshua Bonehill-Paine says he will now advise Conservative Party on its culture and integration commission
How to solve Britain’s prisons crisis
It will require changes to sentencing as well as building more capacity
Europe must do more to harness its AI ambitions
The US and China use the technology as an instrument of state power, while the EU is still considering its course
Israel launches strikes on Lebanon in new flare-up
Israeli military issues first evacuation order in over a month amid renewed efforts to de-escalate tensions in the region
Bodycote gets twin private equity bids as buyers feast on London market
Separate offers from CVC and Veritas value FTSE 250 industrials group at about £1.8bn including debt
Musk’s SpaceX unnerves investors with lavish AI spending plans
Shares slide even as group says its quarterly revenues nearly doubled
Sheikh Hasina vows to return to Bangladesh despite death sentence
Exiled former prime minister’s plans pose political test for new government in Dhaka
The best theatre shows to see in London and beyond
Partners Group nears €2bn deal for beauty group Aroma-Zone
French asset manager Eurazeo in talks to sell stake in group that sells face serums and food supplements
Role Model dabbles with wit and wolfishness in new album Chuck Timely & The Hourglass
The American singer-songwriter’s new album centres on dating and romance with a flirtatious cameo from Dakota Johnson
Flutter chief steps down as gambling group cuts guidance
Peter Jackson to be replaced as CEO in October by head of Flutter’s international business
Reform repaid Tice loan on same day £1mn donated by mother of Farage aide Cottrell
Transactions fuel criticism of the party’s lack of transparency over its financing
Polanski calls for higher taxes on oil and gas profits to fund wildfire prevention
Demand comes as both Shell and BP declared their highest quarterly profit in 4 years