Musk and SEC propose to settle Twitter lawsuit for just $1.5mn
Deal would come at a fraction of the amount regulators originally sought from the world’s richest man
Citigroup sets new rewards structure for banking and wealth referrals
Employees will be paid directly for generating business instead of sharing revenue between the group’s units
FirstFT: Narendra Modi’s BJP wins election landslide in opposition stronghold
Also in today’s newsletter: US and Iran exchange fire in the Gulf, and the EU blocks funds for key Chinese solar energy parts
OpenAI president defends his motives over for-profit coversion and $30bn stake
Lawsuit brought by Elon Musk accuses start-up’s executives of selling out its charitable mission for personal gain
Rheinmetall’s first-quarter revenues fail to meet expectations
German company’s shares under pressure over profitability concerns and questions about the future of warfare
World Cup fans cry foul over ‘unprecedented’ US transport costs
New Jersey to charge $150 for round trip to MetLife stadium, up from usual fare of $12.90
Alphaville’s tepid takes on GameStop vs eBay
We are highly confident that this could end up a car crash
Powell out
Jay Powell has overseen his last Fed meeting as chair even if he plans to stay on as governor
US and Iran exchange fire as Hormuz crisis reignites
Oil jumps to $115 and Treasuries sell off as Tehran targets UAE and US hits Iranian fast boats
Ebay weighs GameStop’s unsolicited $56bn offer for online marketplace
Video game retailer offers $125 a share for resale web group with plans to bring in ‘entrepreneurial mindset’
The oil price crunch is looming
The longer the Strait of Hormuz blockade continues, the more likely a crisis-like adjustment in rich economies becomes
Iran warns US Navy over Strait of Hormuz as UAE intercepts missiles
Oil jumps to $114 as tensions flare up in Middle East
Modi’s BJP wins historic landslide in key Indian state
Hindu nationalist party topples West Bengal’s leftwing chief minister after 15 years in power
Trump family crypto venture sues major backer for defamation
World Liberty Financial accusation against Justin Sun comes after he sues firm over alleged fraud
Gamestop’s Ryan Cohen is either the new Buffett or the anti-Buffett
Pandemic meme stock’s boss today runs a pile of cash more than a company
Peter Thiel backs $1bn ocean data centre start-up powered by waves
US tech billionaire leads $140mn investment into Panthalassa as search for AI power pushes into exotic new frontiers
At 100, Route 66 still ties the US and the world together
Even in the Trump era, foreign tourists flock to the ‘Mother Road’ in search of the true America
The best exhibitions to see in London this weekend
The FT’s critics recommend the most compelling 2026 shows, from Cecily Brown and Hurvin Anderson to Tracey Emin to Zurbarán
Blackstone and Goldman among backers for $1.5bn JV with Anthropic
New consulting company to advise Wall Street groups on how to deploy its AI across their investment portfolios
Transcript: Toxic Legacy — Bonus episode with Samantha Power
Laura Hughes talks to Samantha Power, former USAID head
Trial of Blackpool’s block trade king begins in Hong Kong
Simon Sadler of Segantii Capital faces criminal charges over alleged insider trading of clothing retailer Esprit
Scotch truce should give US trade partners a dram of hope
The industry offers a glaring example of the self-defeating nature of tariffs
EU blocks funds for key Chinese solar energy parts
Brussels cites security concerns in latest crackdown on sensitive China-made imports