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The Latest Breaking News from FT

Treasury minister denies UK plan to cap food prices is 'mimicking SNP'

A TREASURY minister has denied that the UK Government is planning to ask supermarkets to cap essential food prices – mimicking an SNP election…

The National (Scotland)

AI boom: Global stock market order shuffles as Taiwan, South Korea overtake Western giants

Asian markets are making waves. South Korea's Kospi and Taiwan's stock market have surged, driven by the AI boom. These markets are now outperforming many Western exchanges. Investors are watching closely as capital shifts towards these AI-focused economies. This new global stock market order presents exciting opportunities and potential risks.

The Economic Times

The Mandalorian And Grogu: Critics say Star Wars should be put out of its misery

The upcoming Jon Favreau film is the latest addition to the Star Wars franchise, based on the hit Disney+ spin-off series The Mandalorian.

Evening Standard

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The top foreign holders of U.S. debt may soon dump Treasury bonds and bring their money back home, potentially spiking borrowing costs

Yields for 10- and 30-year JGBs have soared to the highest levels since the 1990s, and the central bank is expected to tighten for the fifth time since 2024.

Fortune

SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'

SpaceX is seeking to raise up to $75 billion at a valuation of $1.75 trillion.

Fortune

Eric Trump Threatens to Sue Jen Psaki and MS NOW Over China Trip Segment

Eric Trump threatened to sue Jen Psaki and MS NOW after the former White House press secretary aired a segment questioning his presence on President Donald Trump's trip to China while a Trump-linked company explored a deal involving a Chinese tech firm.

Latin Times

FTSE 100 shrugs off political drama as oil price dips

The FTSE 100 closed up 47.58 points, 0.5%, at 10,372.93.

Evening Standard

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Mike Ashley admits he was behind video that brought down JD Sports chair

Sports Direct founder says people in his employ recorded footage of Peter Cowgill meeting another retail boss

The Guardian - UK

Airlines slash flights and raise fares as fuel crisis begins to hit travellers hard

Global airlines are slashing flights and hiking fares due to soaring jet fuel costs and supply worries, exacerbated by the Iran conflict. Millions of seats are gone from schedules as carriers grapple with disrupted routes and fuel price spikes. Expect fewer options and pricier tickets as airlines adjust operations.

The Economic Times

Indian-origin banker Viswas Raghavan to receive $52 million from Citigroup after leaving JPMorgan amid ‘bullying’ allegations

An Indian-origin banker set to earn around Rs 500 crore at Citigroup is facing scrutiny after a report alleged he bullied colleagues during his time at JPMorgan Chase.

The Times of India

Crispin Odey says ‘that’s bad news’ after he is banned from driving for a year

Odey, 67, told Bromley Magistrates’ Court on Friday that he was not used to 20mph speed limits after he was caught speeding in a Range Rover.

Evening Standard

Financial Times journalists in dispute with management over plans for office days

FT branch of NUJ say there is not ‘compelling case’ for mandate for editorial staff to be in office four days a week

The Guardian - UK

US ambassador to Ukraine steps down after ‘differences of opinion with Trump’

The four-year war continues to rage with US-led efforts to end the war on hold

The Independent UK

Hegseth tells Europe to ‘stop talking and get in a boat’ to help open Strait of Hormuz

US secretary of defence told Europe and Asia that the time for a ‘free ride’ on American protection is over

The Independent UK

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Evening Standard

Blue chips close lower amid US-Iran stalemate

For the week, the FTSE 100 fell 2.7%, the FTSE 250 also declined 2.7% and the AIM All-Share dipped 1.7%.

The Guardian - US

Microsoft and Meta announce large staff reductions as they spend big on AI

Meta said it would cut 10% of it employees while Microsoft will offer voluntary retirement to about 7% of workers

The Independent UK

Italy sports minister rules out replacing Iran at World Cup: ‘Qualification done on the pitch’

Italy missed out on World Cup qualification for a third successive tournament but have been mooted by Donald Trump’s envoy as a potential replacement for Iran

Euronews

Italian officials roundly reject proposal to replace Iran squad at 2026 World Cup

Italy missed out on the World Cup for the third successive time after losing a penalty shootout to Bosnia and Herzegovina in their qualifying playoff final.

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The Independent UK

Trump envoy admits he’s lobbying FIFA to replace Iran with Italy at this summer’s World Cup

Diplomat Paolo Zampolli suggests four-time champions should be given a route back into the tournament after failing to qualify at the expense of the war-torn Middle Eastern state

The Independent UK

Trump’s envoy pushes for Italy to replace Iran at the World Cup

Paolo Zampolli’s suggestion came in part in an effort to rebuild relations between the US and Italy, which have been impacted after Trump criticised the Pope

The Times of India

Is Trump's Hormuz blockade a 'success'? 34 Iran-linked tankers bypass restrictions with $900 million oil

US claimed that it holds "total control" over the Strait of Hormuz, calling it a success. However, reports reveal Iran-linked tankers are bypassing these restrictions. At least 34 tankers have continued operations, with some carrying significant oil volumes. This situation creates a complex environment for global oil trade. Tensions remain…

The Independent UK

Ukraine-Russia war latest: Smoke spreads over 300km from Russian port on fire after deadly strike

Ukraine has struck Russia's Black Sea port of Tuapse multiple times within the past week, sparking a huge fire

The Independent UK

Hotels across America slash summer rates as World Cup demand falls short, report says

Experts have pointed to high ticket prices and simmering anti-American sentiment to explain the price drop

The Guardian - UK

New EU entry-exit system causing up to three-hour delays, say airports

Airport body has asked for power to suspend EES checks requiring personal information and biometrics

Tom’s Hardware

Mark Zuckerberg reportedly working on AI clone of himself — Meta insiders claim 3D photoreal animated Zuck will be able to engage with employees on his behalf

The very top job at Meta may periodically be delegated to an AI replica of Mark Zuckerberg. Will anyone notice?

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