The coming equity surge will test the US bull run
Mega IPOs and share offerings challenge the appetite for AI stocks
The case for raising UK interest rates is growing
The Bank of England should proactively lean against second-round effects from the energy shock
Goldman Sachs expects SpaceX’s AI revenue to surge 100 times by 2030
Projections by Wall Street bank underpin the $1.78tn valuation group is pitching in IPO
Betfair targeted gambling addict, court hears in landmark case
Flutter-owned company accused of worsening addiction of Luke Ashton before he took his life
US plans cuts to Nato’s rapid response force
European allies seek clarity over removal of American naval and air assets that can be dispatched if Russia attacks
Europe is finally flexing its innovation muscles
The new EU tech sovereignty package shows a welcome shift from defensive regulation
Broadcom suffers $300bn rout as revenue outlook disappoints
Shares in chip company fall 15% in early trading on Thursday
Israel and Lebanon agree to implement ceasefire
Deal announced by US state department calls for Hizbollah to stop all attacks
Russia prunes Armenian rose trade ahead of election
Moscow’s trade restrictions put pressure on western-friendly government in Yerevan
The Gulf states and Ukraine need each other
Countries in Iran’s line of fire need to shore up their drone defences, and Kyiv is in desperate need of funding
Israel and Lebanon agree to implement a US-brokered ceasefire
Also in today’s newsletter, a one-time adviser to the UK’s former PM David Cameron leads California’s race for a new governor
Blackstone caps withdrawals from flagship private credit fund
Redemption requests surged to $4.5bn in second quarter amid mounting fears in sector
Lex Greensill banned from UK directorships for 9 years
Financier’s disqualification from Insolvency Service comes 5 years after Greensill Capital collapse
The forgotten crash of 1873 and its lessons for today’s AI frenzy
Liaquat Ahamed’s illuminating analysis of the 19th-century global financial crisis that made the modern world — and still has unsettling parallels
Richard E Grant and Claire Foy let rip in raucous period satire Savage House
The actors have a blast in an 18th-century send-up packed with subplots, illicit sex and toilet humour
Ten years on, what’s next for Brexit? You asked, we answered
Keir Starmer blasts Elon Musk for trying to ‘whip up division’
Tech billionaire has posted 110 times about British politics in the past week
What if Andy Burnham loses?
Defeat would encourage Labour to believe the next election will be won by uniting voters on the left
How AI has de-skilled translation
A specialist knowledge-work job has become fragmented and routine
Time to put Egyptian architect Hassan Fathy back on a pedestal
On the road from Cairo, a lone house amid the urban sprawl encapsulates the late designer’s pioneering approach — will a new generation heed its lessons?
Lithium start-up EnergyX plans ‘Battery Mecca’ in Texas
Project aims to disrupt China’s dominance of the supply chain
Reform given another £3mn by crypto billionaire Harborne
Latest data underscores how Farage’s party remains reliant on a handful of rich donors
The rise and rise of the IMF’s mysterious ‘other’ reserve currencies
Sing me a song, Mr Reserve Manager
FirstFT: Trump’s push for a US manufacturing ‘golden age’ sputters
Also in today’s newsletter: the world’s biggest IPO and the best US city for foreign multinationals to do business