Financial Times

ONS revises down UK government borrowing by £2bn after VAT error

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... people close to the matter. The latest error comes just weeks before chancellor Rachel Reeves is due to deliver a high-stakes Budget, when she is widely ...



Insurers balk at multibillion-dollar claims faced by OpenAI and ...

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Anthropic, which has raised more than $30bn to date, is partly using its own funds for the settlement, according to one person with knowledge of the matter.



Software company Qualtrics to buy health-tech firm Press Ganey for ...

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... a person briefed on the matter. Under the terms of the deal, Press Ganey's owners — Ares Management and Los Angeles-based private equity group Leonard Green ...



Epidemic of crack cocaine addiction sweeps Amazon basin

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“Young people here don't want to study, they just want to sell drugs,” said one woman, who declined to give her name. She sobbed, as she added: “We have 12 ...



Indonesia's tycoons line up to buy 'patriot' bonds

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One person familiar with the matter said some tycoons saw the patriot bonds as “insurance policy” against any potential action towards their companies from ...



BlackRock's GIP nears $38bn takeover of utility AES

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... people briefed on the matter. GIP, a pioneer of specialised infrastructure takeovers, is poised to acquire AES within the coming days, the people said. GIP ...



UK makes new attempt to access Apple cloud data

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... people briefed on the matter. A previous technical capability notice (TCN) issued in January sought global access to encrypted user data. That move sparked ...



'Where there's chaos, there's opportunity': the new investor ...

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A person close to Modella countered that the stores that closed were lossmaking and the CVA marked a reset of an “unrealistic strategy”. The person added ...



How Nvidia's Jensen Huang became AI's global salesman

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... asked to remain anonymous. Huang's goal is to expand the $4.4tn chipmaker's market to include the only potential customers with deeper pockets than Big Tech ...



FirstFT: US government shuts down as lawmakers fail to break ...

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... people briefed on the matter. AES is one of the largest publicly traded utilities in the US while GIP owns stakes in London's Gatwick airport and large ...



How Jared Kushner brokered the $55bn takeover of Electronic Arts

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But it was Kushner who convinced PIF to go for the take-private bid, said people briefed on the matter. Kushner leveraged deep ties he built in Saudi Arabia ...



'Contribution is a condition' of staying in the UK, says home secretary

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This policy would not apply to migrants who had already arrived in Britain, a person close to Mahmood said on Monday. During her first speech as home ...



Jaguar Land Rover secures £2bn emergency credit line after cyber ...

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The loan guarantee was the fastest option to secure additional liquidity for its suppliers, said a person close to JLR. JLR accounts for just over 70 per ...



'Moral hazard' warning after £1.5bn government loan guarantee for ...

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JLR has yet to sign a loan agreement with a bank, according to a person close to the company. JLR previously received £500mn in export development guarantee ...



Jaguar Land Rover wins £1.5bn UK loan support after cyber attack

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But a person close to the company said receiving the loan guarantee was the “fastest option” to ensure liquidity to support its suppliers. JLR, which is ...



First Brands cash crunch intensified after creditor seized funds

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... people briefed on the matter. The bank's move to take control of the funds reduced the amount of liquidity that First Brands has easy access to, raising the ...



Zuckerberg and Altman get closer to Trump after Musk fallout

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... with knowledge of the matter. They added that Trump then sent dinner invitations directly to the biggest tech chiefs, who turned up at short notice. A White ...



UK ministers examine plans to overhaul or scrap two-child benefit cap

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A person close to Rachel Reeves said that as chancellor she had spent a lot of money on free school meals and breakfast clubs for children, “so this is an ...



US philanthropists bring big-money giving habit to UK institutions

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The value of the gift, which included other paintings and an endowment, was £50mn, according to a person with direct knowledge. Jorge M Pérez and his wife ...



New England Patriots valued at $9bn as sport deal flurry continues

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... people briefed on the matter. The stake sale in the six-time NFL champions comes amid a flurry of large private equity investments in America's most popular ...



Auto lender's bust raises alarms over financial health of US ...

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A car salesman at a rival dealership named Lorenzo, who asked to be identified by his first name only out of privacy concerns, said sales had slowed. “A lot ...



Jaguar Land Rover to bear full cost of cyber attack due to lack of ...

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A person close to Lockton disputed the claim that discussions were ongoing, saying that the Tata Motors-owned company had declined cyber-specific cover. JLR and ...



Tether targets $500bn valuation with $20bn private funding round

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... people familiar with the matter. At the lower end of the range, the fundraising would value Tether at almost $500bn, catapulting the highly profitable group ...



Christian Horner signs off at Red Bull with multimillion-pound ...

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Red Bull is paying Horner about £80mn under the terms of the settlement, according to a person with knowledge of the matter. His contract, which ran until ...



Murdochs and Michael Dell part of TikTok buyer group, says Trump

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... person briefed on the matter told the FT. The addition to the TikTok ownership group of the Murdochs, whose media empire has been a bedrock of the ...



Doubts raised over whether France-UK migrant returns deal is ...

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A person briefed on the matter said “there is no flight today following the legal challenge we faced yesterday”. The man, who cannot be named for legal ...



China lifts exit ban on Wells Fargo banker

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A person close to Mao said they believed she was targeted in part because of her Chinese heritage. China's foreign ministry said the country had handled a ...



The US workers escaping for a career overseas

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... asked to be identified by her first name because she is job hunting. Vanessa is particularly concerned by the Trump administration's policy of mass ...



Jaguar Land Rover's output could take several months to normalise ...

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Even before the latest incident, people briefed on the matter have said the company was facing delays with launching its new electric models. “They are ...



Beijing says TikTok's US app will use Chinese algorithm

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People briefed on the matter said the broad consortium of about a dozen Wall Street investors from April had narrowed significantly, after some such as ...



Disney, Universal and Warner launch copyright lawsuit against ...

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... a person familiar with the situation. The lawsuit includes several screenshots of MiniMax advertisements that feature some of the studios' best-known ...



Senior UK official asks whether pause in pharma sector spending is ...

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A person close to UK health secretary Wes Streeting said there were no concerns that pharmaceutical companies were colluding and the government was not ...



Qatar calls for 'concrete steps' against Israel after missile strikes

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... people briefed on the matter said. Another option, diplomats and analysts said, would be for the United Arab Emirates to downgrade its relations with Israel ...



Private equity invites Chicagoans to roll dice on local casino

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A person close to the Bally's Chicago project said it was hoped it could eventually generate $200mn in annual operating cash flow before $100mn of rent owed ...



Andy Burnham weighs return to Westminster after Keir Starmer's mis ...

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A person close to Burnham said he had been starting to think about a possible return to Westminster in a way he had not done previously, following ...



Nestlé investors call for chair to step down over executive turmoil

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Isla was already actively involved with decision making, said a person close to the company, including in the latest CEO change. Bulcke became Nestlé chief ...



Former chief justice appointed Nepal prime minister in bid to end ...

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... declined to be identified. “At this point, everybody comes with a political baggage, so we had to find somebody we could really trust,” the representative ...



US urged UK to offer a better deal on drug pricing to pharma ...

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A person close to Reeves said Stephens acknowledged wider challenges for the pharmaceutical industry, and showed understanding about the tough fiscal ...



Skadden held talks to provide unpaid legal work for Heritage ...

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... with knowledge of the matter, though they added it had not yet carried out any such work or agreed to do so. The move comes after nine major law firms ...



JPMorgan and Fifth Third face losses tied to collapsed subprime car ...

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JPMorgan had similar levels of exposure to Tricolor as Fifth Third, one person familiar with the matter said. Tricolor has a sprawling business buying and ...



US DoJ probes fraud allegations at subprime car lender Tricolor

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... people briefed on the matter. JPMorgan and Fifth Third Bank each have about $200mn in exposure, the Financial Times has reported. Barclays is also listed as ...



Israel unbound: was Qatar a strike too far?

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American officials also held direct talks with Hamas last week, according to a person briefed on the discussions. Hamas officials, Khalil al-Hayya, right ...



China detains banker son of ex-regulator facing corruption probe

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The people briefed on the matter said the younger Yi could emerge unscathed from the probe into his father and return to the investment bank. Xi's wide ...



Sealing the succession: inside 'immortal' Murdoch's last big deal

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James Murdoch was disappointed by the outcome but felt he had no choice, said a person close to the matter. The previous trust would have split voting power ...



Nvidia-backed AI start-up Reflection nears deal for $5.5bn valuation

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Reflection, which is building artificial intelligence tools focused on coding, would raise about $1bn, according to four people with direct knowledge of the ...



Aquarian in final fundraising stage for deal to acquire Brighthouse

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... people briefed on the matter told the Financial Times. Aquarian has been pursuing a takeover of Brighthouse for months with committed debt financing from ...



Fear of China denies Taiwan film businesses a 'Zero Day' payout

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One actor who declined to be named said she had decided against taking a role in a Taiwanese film because she feared it might tie her image too closely to ...



Denials and defiance: Nestlé chief's exit over relationship prompts ...

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... with knowledge of the matter. “Laurent Freixe denied the relationship throughout the course of both investigations,” Nestlé said in a statement. The woman ...



Jane Street revenue eclipses $10bn in a quarter for first time

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... people briefed on the matter. JPMorgan and Goldman, which have long intermediated trades for big investors on Wall Street, posted second-quarter trading ...



Jefferies among private credit investors exposed to US auto ...

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... people familiar with the matter. Ohio-based FBG, a privately held company owned by little-known businessman Patrick James, has appointed Deloitte to carry ...

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