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FirstFT: Scott Bessent shrugs off ‘systemic’ AI risks at private event with …
Also in today’s newsletter: Elon Musk’s $3.6tn gamble and China’s battery makers race to invest abroad
Republicans head into midterms with huge spending advantage
Filings show the party and its affiliated groups have amassed a big war chest but polling favours Democrats in many races
Abbott to spin off nutrition unit at centre of baby formula lawsuits
US healthcare group plans to create standalone public company with $8.5bn in annual sales
Could Michigan elect America’s first Muslim senator?
Democrat Abdul El-Sayed could make history — or scupper his party’s hopes of taking control of the Senate in midterm elections
Fridge hackers exploited ‘basic security flaws’ at French retailers
Head of France’s cyber security agency said lack of protection and weak passwords helped criminals seize control of systems
France’s borrowing costs hit 5% for first time since 2002
Concerns over public finances and political stability have helped push up 10-year bond yields from 3.2% in late February
Reform reports ITV to police over undercover documentary
Zia Yusuf says tactics behind programme that showed party councillors making sexist and racist comments may have been illegal
Who’s paying for the AI build-out? Probably you
Every big pool of capital, in every corner of the developed world, is funding data centres
FirstFT: SpaceX and Tesla explore merger
Also in today’s newsletter: Netanyahu pushes to resume large-scale strikes against Iran and French borrowing costs hit 5% for the first time since 2002
Burnham’s North Sea ‘pragmatism’ is no big shift from Starmer’s
Plus, why Ed Davey believes the prime minister is about to call an early election
UK’s biggest port operator valued at over £10bn in Australian fund purchase
Infrastructure giant IFM Investors buys majority stake in Associated British Ports from Canadian pension funds
Don’t underestimate Netflix’s power to flip the script
Focusing on making more Oscar winners would double down on territory YouTube has struggled to conquer
China’s nightmare: becoming the next Japan
Tokyo lost decades when a property bust led to an economic slump. Could the same phenomenon undo Xi Jinping’s ambitions?
How China is breaking down the west’s battery walls
Chinese groups are racing to build a global supply chain as protectionist barriers rise
Australian data centre group falls 44% on profit warning
NextDC plunge adds to sector woes as Nvidia holds talks over injecting capital into Firmus after failed IPO
SpaceX and Tesla boards explore potential merger
Elon Musk says combining his two public companies would be a ‘good idea’ as the world approaches an AI singularity
Lula fast-tracks Brazil welfare payments days before run-off vote
Veteran leftwinger aiming to close the gap with rightwing challenger Flávio Bolsonaro before Sunday’s ballot
UK to approve development of Jackdaw gasfield in North Sea
Ministers to give go-ahead on Wednesday to the project about 150 miles east of Aberdeen
Finnish president hails progress in talks about ending Russia’s war in Ukraine
Volodymyr Zelenskyy participates in discussions in Oslo that also involve Donald Trump’s envoy
Joel Kaplan to step down as Meta global affairs chief
Republican political operative is a key adviser to CEO Mark Zuckerberg
Boeing wins approval for Max 10 jet in boost for turnaround efforts
Long-awaited certification will help US group compete with Airbus as airlines seek larger and more efficient aircraft
Netflix gives downbeat outlook as streaming hits dry up
Entertainment giant shakes up creative leadership as viewership growth stalls and current quarter profits set to disappoint
UK jobs market stabilises before Budget
Figures suggest recent upswing in economy is starting to underpin employment
Romania forms a government after six months of crisis
Prime Minister Luca Niculescu receives parliament’s backing for his minority administration
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