The real European financial threat to America
An uncoordinated, decentralised and gradual buyers’ strike is the actual danger
EU wrestles with competitiveness impasse as industry languishes
Also in this newsletter: Marine Le Pen’s high-stakes appeal enters next stage
Gold and silver prices rebound after sell-off
Asian markets rally after steep fall in precious metals spills over into region’s stocks
Australian central bank reverses course with interest rate increase
Rise comes six months after a cut as RBA warns on inflation
FirstFT: SpaceX buys xAI in $1.25tn deal
Also in today’s newsletter: OpenAI staff exits and UK-EU ties
Jeffrey Epstein’s ties to Wall Street’s elite
Newly released files detail the convicted sex offender’s ties to power brokers in politics and high finance
Transcript: Who will be Disney’s next CEO?
Marc Filippino talks to Sarah White and Christopher Grimes
No, the public is not irredeemably ignorant
But there is a disconnect between economists’ metrics and people’s perceptions
Silver’s runaway rally becomes ‘death trap’ for Reddit’s retail crowd
Meteoric rise — and thumping sell-off — has seen the volatile precious metal compared to a ‘meme stock’
Investors use new tactics to pressure BP on climate change
Business strategy to be questioned at annual meeting after renewable energy plans were ditched
Scheming, joking, complaining: Moltbook’s AI agents are just like us
Like humans, rules will need to be set and comings and goings tracked, highlighting how managers will always be needed
UBI fans must remember a job is about more than the money
The value of work often gets left out of discussions about AI
Starmer seeks to push forward with delayed defence investment plan
Meeting convened by UK prime minister comes as officials examine ways of overriding multi-billion pound funding gap
American Psycho — the Almeida musical is slick, disturbing and as resonant as ever
Arty Froushan makes a superb Patrick Bateman in this revival of the 2013 Bret Easton Ellis adaptation
Virgin Media O2 owners to seal £2bn acquisition of UK broadband rival
Telefónica and Liberty Global are leading a takeover of Netomnia in a deal to close gap with BT’s Openreach
OpenAI’s ChatGPT push triggers senior staff exits
Resources at $500bn company are being redirected from long-term research towards improving the flagship chatbot
Craft advertising lifts Lucky Saint’s non-alcoholic beer
The London brand has drawn on British marketing traditions for its irreverent image
Backlash in Iran after state media mocks dead protesters
Joke about corpses sparks outrage as cultural and sporting figures boycott events in sign of anger towards regime
Bolivia buries 20 years of socialism with ‘capitalism for all’ reforms
New president Rodrigo Paz plans sweeping natural resources reforms to boost foreign investment and revive economy
Boss of private equity group Permira quits UK for Switzerland
Kurt Björklund is the latest addition to growing list of wealthy financiers to have left the country
Lady Macbeth of Mtsensk, Komische Oper review — an orgy of sexual violence without consequences
Barrie Kosky’s Berlin production is brilliant and bawdy but those seeking refinement should look elsewhere
Private jet sellers rattled by Trump threats on Canadian-made aircraft
Tariffs and vow to ‘de-certify’ planes baffles industry and hits share price of Bombardier
Fuel cell groups ride AI wave as data centres strain the power grid
Bloom among companies whose stock has surged as Big Tech turns to niche energy providers to power its sites
Ukraine agrees multi-tier plan for enforcing any ceasefire with Russia
European forces would be dispatched and backed by US military in case of repeated Russian violations