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The Latest Breaking News from the Financial Times

Elon Musk Loses Another Top Executive As X's Ad Chief Reportedly Quits

John Nitti, who served as global head of revenue operations and advertising innovation at X, has left the social media company after just 10 months in the role, according to a report by the Financial Times on Friday.

Benzinga

Saudi Arabia Reportedly In Talks With US For Defense Deal

Saudi Arabia is reportedly in talks with the Trump administration for a defense agreement that mirrors last month’s U.S.-Qatar pact, which commits Washington to view any attack on the Gulf nation as a threat to “American peace and security.”

Benzinga

Reeves poised to make major change to cash ISAs

Several potential options are on the table regarding Isas, but no decisions have been made

The Independent UK

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Housing targets could be derailed if cash Isa limit is cut – building society

Reports suggest that the Treasury could be considering cutting the annual cash Isa limit to £10,000.

Evening Standard

OpenAI Is Reportedly Working On A Five-Year Plan To Fulfill Its Massive Spending Pledge

OpenAI is reportedly chasing new revenue streams, debt partnerships, and additional fundraising as part of a five-year plan to fulfill its $1 trillion spending pledge to advance artificial intelligence.

Benzinga

Elon Musk has been snapping up ex-Nvidia specialists to help make AI world models, which is fine but please keep away from our games

Rockets are cool, AI slop games are not.

PC Gamer

China issues port crackdown on all Nvidia AI chip imports, says report — enforcement teams deployed to quash smuggling and investigate data center hardware, targeting H20 and RTX 6000D shipments

Chinese customs authorities have launched a sweeping crackdown on unlicensed Nvidia chip shipments, with enforcement teams deploying at major ports to inspect hardware shipments.

Tom’s Hardware

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China Tightens Grip On Rare Earth Exports To Protect 'National Security' As Tech Giants Brace For Impact

China tightened its grip on the export of rare earth minerals and related technologies, escalating tensions with Washington ahead of an expected meeting between President Donald Trump and Chinese leader Xi Jinping later this month. China Says New Rules To Protect ‘National Security’ Foreign companies will need approval to export…

Benzinga

Meta And Apple Nearing Settlement With EU Lawmakers On Antitrust Cases: Report

Apple Inc. (NASDAQ:AAPL) and Meta Platforms Inc. (NASDAQ:META) are reportedly close to settling their respective antitrust cases with the European Commission.

Benzinga

Asahi forced to take orders by fax as Japan races to avoid beer shortage

Japan’s best-known beer maker struggling to restore normalcy after ransomware incident paralyses delivery

The Independent UK

The first Open AI gadget from Jony Ive is reportedly delayed — ‘you should have a friend who’s a computer who isn’t your weird AI girlfriend’

OpenAI is working on some wearable devices, but despite not even being fully announced yet, there are already delays in place.

Tom’s Guide

Private Equity Stocks Burn While Wall Street Parties—Is A Credit Crunch Brewing?

While Wall Street dances in an “everything rally” with stocks breaking record highs daily, gold glittering near $4,000 an ounce and Bitcoin (CRYPTO: BTC) soaring past $125,000, private equity stocks are the only ones not invited to the party, stumbling instead of soaring.

Benzinga

OpenAI’s rumored ‘always on’ AI device sounds terrifying – but Sora 2 shows it doesn’t care about boundaries

OpenAI is struggling to find the right mix of power and relatability for its secret AI device, and we pretty much know they won't get it right at first.

TechRadar

Nearly two thirds of Tory members want pact with Reform, poll suggests, with close to half supporting full merger – as it happened

Half of Tory members also want Kemi Badenoch to be replaced as Conservative leader

The Guardian - UK

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TechRadar

"Gravely disappointed" – UK hit Apple with encryption backdoor order, again

After announcing a U-turn on the previous encryption backdoor order, the UK hit Apple again with a similar demand. This time, British users' data are the sole target.

Benzinga

Is Your New iPhone Made With Mistreated Workers?

Apple Inc. (NASDAQ: AAPL) is investigating labor conditions at Foxconn’s Zhengzhou facility following new allegations by China Labor Watch (CLW) of persistent worker mistreatment.

Evening Standard

Political unease sparks increase in UK bond yields as FTSE 100 dips

The possibility of a political challenge to Sir Keir Starmer could put the pound under pressure, analysts warned.

International Business Times UK

Trump's UN Roast: How Global Media Outside America Are Reading the Attack

Donald Trump's fiery UN speech sparked global backlash, with Europe warning of strained alliances, Asia raising security fears, and Australia pushing back on climate.

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TechRadar

EU plans to block Apple, Google, Meta and other US companies from its shared financial data system

European Union closes in on FiDA deal which could block Apple, Google, Meta and Amazon from accessing financial data across the single market.

Benzinga

Nvidia Commits $500 Million To UK Autonomous Driving Startup Wayve

Nvidia (NASDAQ:NVDA) is in advanced talks to make a $500 million investment in the U.K. autonomous driving startup Wayve, signaling a strategic expansion of its influence in the thriving artificial intelligence sector.

Barchart

Stocks Rally Before the Open After Fed Rate Cut With More Easing Ahead

September S&P 500 E-Mini futures (ESU25) are up +0.84%, and September Nasdaq 100 E-Mini futures (NQU25) are up +1.10% this morning, pointing to a sharply higher open on Wall Street after the Federal Reserve cut interest rates for the first time since December and signaled more reductions could follow soon.

Barchart

Stocks Settle Mixed on Hawkish Fed Chair Powell Comments

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed down -0.10%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.57%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.21%. September E-mini S&P futures (ESU25 ) fell -0.09%, and September E-mini Nasdaq futures...

Fortune

Nvidia shares drop, China tech surges as Beijing tries to push homegrown AI chips

China's top internet regulator has reportedly asked tech firms to stop using Nvidia's chips, deeming that local alternatives are good enough to compete.

Barchart

The Federal Reserve Cuts Interest Rate by a Quarter-Percentage-Point, Signals 2 More Before the End of the Year

The S&P 500 Index ($SPX ) (SPY ) today is up -0.17%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.77%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.80%. In a move that was largely anticipated by Wall Street, the Federal Reserve approved...

Barchart

Stocks Narrowly Mixed Ahead of FOMC Decision

The S&P 500 Index ($SPX ) (SPY ) today is up +0.04%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.48%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.12%. September E-mini S&P futures (ESU25 ) are up +0.03%, and September E-mini Nasdaq futures...

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