Financial Times

Saudi Arabia quits China-led cross-border currency platform

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When asked if the Saudi Central Bank, also known as SAMA, had faced any US pressure to withdraw, a person familiar with the matter said it would be ...



How Glencore became entangled in $2bn battle with iron ore trader ...

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... a person familiar with the matter. This followed enquiries from the FT about Hill's involvement with the iron ore trader. The plan to work with Radiant had ...



Iran switches from ships to trucks to evade US blockade

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... asked to remain anonymous. In the meantime, Turkey's dusty Gürbulak border crossing, which lies beneath the slopes of Mount Ararat, the fabled landing place ...



British data centre group Nscale files for $35bn US listing

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... a person familiar with the matter. Japanese investment group SoftBank, meanwhile, hopes to list its US data centre developer, SB Energy, sometime in the ...



OpenAI expects to burn $280bn by 2030 - Financial Times

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OpenAI is pushing for a higher valuation, according to a person close to the company. OpenAI's ability to meet its vast funding needs is critical to a ...



Trump family-backed drone maker signs agreement with Pakistan

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It also provides for the sale of drone and interceptor products to Pakistan's military, a person briefed on the matter in Islamabad said. The company ...



Workers at Diageo's largest distillery to go on strike as demand slumps

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A person close to Diageo said it had consulted with the union over the proposed job cuts for several months and had not yet received a counter proposal. At ...



Reform UK's mega-donor backed a friend's libel claim. Now he ...

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A person close to Delo says he does not believe Power or Miller were antisemites and would never have provided financial backing for the defamation case if ...



Turmoil at Tata deepens as board reverses executive chair's exit

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A person close to Tata Trusts said that if there were only two nominee directors for the charitable bodies, such resolutions would fail “in the absence of ...



Glencore suspends senior executive in review of ties to iron ore trader

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... person familiar with the matter. It comes days after Radiant filed a $2bn legal claim in Singapore against three Glencore entities, which alleged that the ...



AI bosses' safety push sparks rift inside OpenAI and Anthropic

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Despite their public comments, little is in place internally to implement the new proposals, according to several people close to the companies. Amodei ...



The Indian business empire being forced to list against its will

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“A company which does not want to go public is being forced to by the government,” said a person close to Tata Sons, adding that the regulatory uncertainty ...



How Poland lost $230mn trying to buy Venezuelan oil with crypto

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A person familiar with a ...



The Observer raises £10mn in boost to turnaround effort

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... according to a person close to the situation. Gary Lubner, the South African businessman and Labour Party donor, is set to increase his holding through This ...



Hackers say they breached Italian state email to target Revolut ...

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The Revolut Ltd. headquarters building in Canary Wharf with a red DLR train passing in A person familiar with the situation said Revolut had not been contacted ...



OpenAI weighs funding round at $1.2tn valuation before IPO

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... people familiar with the matter. The conversations with investors are at an early stage and the figure could change over the coming months, the people added ...



Paris and Beirut push to extend UN peacekeepers' mission in ...

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Ideas had included a new “scaled-down” UN mission, French troops, US military personnel, or an EU force, said people familiar with the matter. Italian and ...



CVC faces shareholder revolt over €10.7bn Recordati take-private

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People close to the matter said the board reshuffle reflected a previous agreement between CVC and Groupe Bruxelles Lambert that envisaged equal ...



How Russia's new drones are changing the air war - Financial Times

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... a person close to the Kremlin. Ukrainian government plane UR-ABA on the runway at Gardermoen airport near Oslo. The Ukrainian jet believed to carry ...



Anthropic tells investors it will be profitable for second straight quarter

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... with knowledge of the matter. The measure strips out costs including stock-based compensation. Anthropic's gross margins are above 80 per cent before ...



Canada seeks Ukraine loan role to deepen EU ties - Financial Times

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... people briefed on the matter. The Canadian prime minister was seeking to build an alliance of liberal powers committed to the multilateral order thrown into ...



Larry Ellison cancels $7.5bn Oracle share sale - Financial Times

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A person close to Ellison said that he considered shares in the company to be undervalued. They declined to say whether he intended to purchase more in the ...



India's central bank tells Tata Sons to take conglomerate public

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An IPO “would put the trusts at par with any other shareholder”, said a person close to the group. The regulatory ruling is a major win for Shapoorji ...



Iran and Gulf states to meet in push for Hormuz deal - Financial Times

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It is scheduled to be held on Monday in the Omani coastal city of Salalah, according to two people briefed on the matter. One of the people said the details ...



Sanctions loophole lets UK insurer cover tankers carrying Russian gas

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From January, some of those exposures will no longer be permitted under UK rules even though they remain legal elsewhere, according to a person close to the ...



Zack Polanski faces uphill battle in Keir Starmer's former seat

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But one Camden-based community worker in his sixties, who declined to give his name, said voters had seen “a caricature story” about Polanski, nodding to ...



Military jet triggered UK's latest air traffic meltdown - Financial Times

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The fact that the flight plan came from a military aircraft had no specific bearing on the problems that followed, two people briefed on the matter said.



IMF ditched top candidate for chief economist job over Trump tariff ...

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Reis's removal from the race raised alarm among some of the people briefed on the matter over whether the role would go to an economist with ties to the ...



Milei's great free trade experiment - Financial Times

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“My factories are competitive, it is the taxes that are killing us,” says the executive, who did not want to be named for fear of attracting the wrath of ...



DeepSeek fundraising frenzy spawns costly shadow market

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... with knowledge of the matter. The ongoing fundraising comes just a month after DeepSeek raised $7bn to value the company at $52bn in its initial financing ...



McLaren to create 1,000 UK jobs in product overhaul - Financial Times

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The jobs will include indirect and agency workers, according to two people with knowledge of the matter, with the investment going into its Woking centre ...



US spy chief prepares for greater role in Russia-Ukraine talks

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Putin had initially planned to meet Ratcliffe, according to two people familiar with the matter. The Russian president then backed out after Ratcliffe delivered ...



The cost of being Apollo - Financial Times

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Florida-based Goanna Capital is launching a $1bn crossover strategy to back public and private companies, a person familiar with the matter told DD. The ...



Huawei drives China's push to make advanced chips - Financial Times

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Yuliangsheng is set to produce 12 DUV machines by the end of this year, according to one person familiar with the matter, although the company remains a ...



CVC hires Todd Sisitsky with plans to name him co-chief

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... people briefed on the matter. The pair will succeed Lucas, who has led CVC since its initial public offering in 2024. The firm has been seeking potential ...



Big US university endowments outperform S&P 500 index

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... with knowledge of the matter. Its stakes in high-profile technology start-ups could give a big boost to its performance this year, according to people with ...



Guggenheim unit warned over internal controls - Financial Times

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The concerns involved “vagueness about the services to be rendered” as part of these contracts, according to a person familiar with the complaint. This was ...



FNZ: the Credit Suisse spinout haemorrhaging cash - Financial Times

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FNZ is defending this claim in a New Zealand court and a person close to the company said directors leaving in June was part of normal succession planning.



Saudi Aramco oil facilities hit in new strikes - Financial Times

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The company's oil infrastructure was hit on Monday and the damage was being assessed, said two people with knowledge of the matter. Jizan is the kingdom's ...



'Unfinished business': Travis Kalanick revisits robotaxis with new ...

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The bulk work across the company's food division but a growing number of employees are focused on autonomous vehicles, people familiar with the matter told the ...



Jaguar Land Rover plans up to 4,000 job cuts as Chinese rivals pile ...

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However, a person with knowledge of the matter said as many as 4,000 employees would be affected, adding that jobs at its production facilities will not be ...



Anthropic's IPO set to test external trust with power over board

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A person close to Anthropic said the private investors who have backed the company across multiple rounds did so with full understanding of its governance ...



Tehran artists respond to catastrophe — and refuse to surrender to it

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One gallerist, who asked not to be named, describes the commercial reality bluntly: “Some galleries have gone months without selling anything. We are ...



Luxury gym Equinox in refinancing talks to shred debt and bulk up ...

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... people briefed on the matter. While the exact size of the financing was unclear, the transaction was expected to put hundreds of millions of dollars of cash ...



Wall Street banks push Big Law to cut fees because of AI

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... with knowledge of the matter. The pressure from some of Big Law's most valued clients could help overturn the financial model at the heart of the legal ...



Keir Starmer to stand down as MP - Financial Times

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... a person familiar with the situation. The former South African MP and anti-apartheid activist won nearly a fifth of the vote in 2024 on a pro-Palestine ...



Cinven private equity co-heads on mis-steps: 'Let's move on'

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In an early sign of a steadier ship, Cinven is about to close a small €1.5bn fund focused on midsized buyouts, according to one person briefed on the matter.



Argentina battles flood of contraband goods as Milei opens economy

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... requested anonymity to discuss the sensitive subject. “Those of us who pay our taxes are getting killed because we can't compete.” The flow of contraband ...



CEO of India's largest private bank to step down - Financial Times

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Several people with knowledge of the matter said at the time that Chakraborty, who had been non-executive chair of HDFC Bank since 2021, was opposed to ...



US and Iran exchange fire for the first time in more than a month

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Tehran lobbed “a few missiles” at Jordan in retaliation but they were intercepted by American forces, according to a person familiar with the matter. The ...

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