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Tech, AI, and finance news coverage and analysis
Ten years after the referendum, FT panelists conclude Brexit has left the UK economy 4-8% smaller with permanently weaker investment and trade, while politically the debate has shifted from Brussels-bashing to Westminster grievance, making EU rejoining impossible despite widespread regret.
Mega-cap technology stocks suffered a sharp weekly decline dragging down cap-weighted indices, while defensive sectors and equal-weight indexes gained as investors rotated amid rising 2-year Treasury yields and a flattening yield curve. Analysts characterized the tech pullback as healthy rotation within a still-bullish setup, while SpaceX's IPO triggered a selloff in proxy space stocks.
OpenAI is delaying its IPO until 2027 to navigate volatile market conditions and let Anthropic set valuation precedents, while Apple braces for iPhone price hikes up to $200 due to memory chip shortages, and SpaceX's $25 billion bond offering faces paper losses amid a jittery credit market.
Major tech companies from OpenAI to SpaceX are developing custom AI chips to reduce costs and dependence on Nvidia, while the industry grapples with memory shortages and pivots toward 'neocloud' compute rental models amid skepticism about futuristic orbital data centers.
Grace Beverley details how she built Tala into a multimillion-dollar sustainable activewear brand by rejecting traditional VC funding in favor of a revenue-share manufacturing partnership, prioritizing transparent sustainability over perfection, and restructuring early to protect long-term brand integrity over short-term profits.
ATF Class 157 graduates six new K9 handler teams after 24 weeks of intensive training, preparing them for immediate deployment to FIFA World Cup venues and violent crime evidence recovery operations across the United States.
While the Cannes Lions advertising festival has devolved into a tech platform summit focused on AI-driven surveillance marketing, Meta appears to be in strategic chaos—simultaneously copying YouTube's TV strategy, installing fintech leadership at WhatsApp, and building a real-money prediction market gambling platform codenamed Arena.
IAEA Director General Rafael Grossi confirmed that over 160,000 tons of treated water from Fukushima have been safely discharged with radionuclide levels below expectations, while outlining ongoing challenges in verifying Iran's nuclear program under a new US-Iran memorandum amid contradictory political statements.
Markets closed mixed with rotation from mega-cap tech into equal-weight indices and industrials, while Micron's blowout earnings validated sustained AI infrastructure demand despite Apple and Microsoft announcing significant price hikes due to memory chip shortages.
NATO Secretary General Mark Rutte outlined a transformative vision for 'NATO 3.0' featuring unprecedented European defense spending increases totaling 1.2 trillion dollars and a transatlantic defense industrial revolution. He credited President Trump's leadership for finally achieving allied burden-sharing while emphasizing enduring support for Ukraine and the strategic interdependence of US-European security.
Shi'ite Muslims gather in Karbala for Ashura, commemorating the 680 AD martyrdom of Imam Hussein and his infant son through ritual lamentations, historical narrative, and Quran recitation on the spiritually significant night before the anniversary.
Micron's record forecast signals AI-driven memory shortages will persist beyond 2027, forcing Apple to implement rare price hikes across its hardware lineup while Qualcomm bets heavily on data centers with a $15 billion revenue target by 2029 as the tech sector shifts from deflationary to inflationary pressure.