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The Latest Breaking News from the Financial Times

Saudi money, Chinese weapons, American patronage: Can Pakistan balance all three?

Pakistan pursues a complex foreign policy balancing China and Saudi Arabia. It also seeks to rebuild ties with Donald Trump's administration. Islamabad attempts to mediate between Washington and Tehran during regional crises. This diplomatic outreach occurs despite significant domestic economic and security issues. Sustaining these ambitions depends on internal stability…

The Times of India

Joaquín Castro Accuses Trump Administration of 'Graft' Over Venezuela's Untraced Oil Billions

Democratic congressman Joaquín Castro accuses the Trump administration of mismanaging Venezuelan oil revenue, highlighting a lack of transparency as Venezuela struggles with earthquake recovery and economic challenges.

International Business Times UK

Xpeng claims China is close to making a Tesla Model Y beater — but my experience suggests it'll fall short for two big reasons

Can Xpeng really beat the Tesla Model Y? After driving both, I have doubts

TechRadar

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Trump Administration Weighs Grants for MAGA-Aligned Projects Across Europe: Report

The Donald Trump administration is reportedly preparing grants for MAGA-aligned projects in Europe as it overhauls US foreign aid priorities.

Benzinga

'People will pay because they have to': Trump Media pitches $100,000 monthly fee for faster Truth Social posts

Donald Trump's social media company has discussed charging traders and investors as much as $100,000 a month for faster access to the US president's posts on his Truth Social platform, according to a report by the Financial Times.

The Times of India

Nvidia slashes list of authorized customers in Asia in a bid to reduce AI chip smuggling, report claims — company sent field inspectors, called customers to check if business is genuine after pressure from Washington

The company culled its list of verified customers, cutting out more than half of its existing client list to reduce incidents of smuggling. Remaining clients have passed more stringent checks, including physical inspections of data centers and interviews with end users.

Tom’s Hardware

Mastercard explores sale of UK payments subsidiary Vocalink, FT reports

LONDON - Mastercard is exploring the sale of a majority stake in its UK ‌payments subsidiary Vocalink back to British banks as it responds to concerns about a critical asset being under US ownership, the Financial Times reported on Monday citing ⁠people briefed on the talks.

Bangkok Post

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Tencent is reportedly in talks to acquire Manus from Meta, following Beijing intervention — company expects to remain independent of Chinese tech giant

Tencent is in talks with Manus and other investors to raise the $2 billion needed to buy back the startup from Meta. Beijing ordered the two companies to unwind the deal six months after the surprise announcement of its purchase.

Tom’s Hardware

Truce and fire: The ghost of Versailles haunts Trump. But is Iran overplaying its hand?

President Trump declared the June 17 ceasefire with Iran over, ordering fresh US strikes. Iran responded by targeting tankers in the Strait of Hormuz, escalating tensions. The conflict's tempo is now largely controlled by Iran's ability to disrupt oil shipments. Both sides face pressures, with neither in a decisive position…

The Times of India

Tesco 'considering sale of central and European operations'

TESCO is considering the sale of its central and eastern European operations, according to reports

The National (Scotland)

EU to delay new €20 pre-authorisation travel system after border queues

Sources say IT issues affecting new system and long EES border queues have delayed next rollout phase

The Independent UK

HSBC pulls back from risky credit after bankruptcy scare, FT reports

HSBC is reportedly scaling back its involvement in riskier private credit deals, according to the Financial Times. This strategic shift indicates a move towards a more cautious approach in the private credit market, signaling a potential change in the bank's lending appetite for more speculative investments.

The Economic Times

Trump Won't Create AI Regulator, Says Former White House Adviser Sriram Krishnan Amid Data Center Backlash: 'That Is Never, Never Going To Happen...'

Former Senior White House Policy Advisor on Artificial Intelligence Sriram Krishnan said the White House will not create a centralized AI licensing body akin to the Food and Drug Administration.

Benzinga

Tesla silences critics with knockout EV sales as Elon Musk controversy fades — but it still can't stop BYD from reclaiming the global crown

Tesla posts a record sales period as EV business rebounds, but BYD is still leading the global race

TechRadar

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The Economic Times

Sam Altman wants to give a 5% OpenAI stake to the US government: Report

OpenAI is reportedly exploring a 5% equity stake for the U.S. government, a move aimed at easing political concerns and fostering ties with the Trump administration. CEO Sam Altman believes this approach would democratize AI's economic benefits. The proposal, which could extend to other major AI firms, seeks to address…

The Independent UK

A Blazy of glory: Meet the millennial fashion titan shaking up Chanel for a new era

IN FOCUS: Matthieu-mania is taking over the fashion world, as those in the know clamour to buy the first collections from Chanel’s new unassuming creative director. Katie Rosseinsky explores his rise and rise

The Economic Times

US in talks with AI companies for voluntary model standards

The U.S. government is in advanced talks with AI companies to create voluntary standards for the release of new models, with an announcement possible as soon as next week, the Financial Times reported on Wednesday, citing sources.

RideApart

VW Doesn't Deny It's Looking To Sell Ducati In Official Statement

A recent report states that financial advisors are telling Volkswagen to sell off Ducati in order to help its financial position. Volkswagen has now commented on the subject, but didn't deny the report or its contents.

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France 24

'Cloak of secrecy' surrounds plane that crashed into Beijing skyscraper

PRESS REVIEW – Wednesday, July 1: Papers discuss a story from China that has flown under the radar: a plane crashed into the tallest building in Beijing in unclear circumstances. Next: why was "controversial figure" Vadim Ermolaev targeted in Monaco? Also: could Ireland become the next summer holiday hotspot? Finally,…

Tom’s Guide

Apple seeks RAM from blacklisted Chinese company as memory shortage impacts everything — but it may not be enough

Apple is attempting to solve supply issues with a new memory supplier for its upcoming iPhones but it may not be enough.

RideApart

Volkswagen May Be Looking to Sell Ducati: Report

Volkswagen's current financial situation is one that's teetering, with mass layoffs, price cuts, and slashes to existing lineups across its brands. A new report hints at the brand potentially selling off its other holdings, including Ducati.

Tom’s Hardware

Apple reportedly lobbies Uncle Sam for access to Chinese memory chips — tech giant allegedly wants to buy from blacklisted CXMT

Following a historic price hike, the Financial Times reports that Apple is lobbying in Washington to secure approval to buy cheaper RAM from CXMT. The manufacturer is currently designated as a Chinese military company, but is not entirely banned by the White House.

The Independent UK

Green Party forced to return Zack Polanski’s donation on legal grounds

Greens become first major party blocked from receiving donations from its own leader

The Times of India

Italy’s electoral rules may change before polls: Why Meloni’s proposal has triggered row

Italian Prime Minister Giorgia Meloni is pushing a controversial electoral reform, introducing a "majority prize" for winning coalitions. Opposition parties decry it as an "authoritarian" power grab, designed to secure her party's dominance. The proposed law, reminiscent of a past system struck down by the Constitutional Court, aims for political…

Euronews

European defence IPO: KNDS lays out listing plans that could value it at up to €15bn

The Franco-German manufacturer behind the Leopard and Leclerc battle tanks, KNDS, has officially announced its plans for an IPO, listing shares in Paris and Frankfurt within weeks, capitalising on Europe's race to rebuild its military capacity.

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