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Unusual burst of bets preceded Rishi Sunak’s election announcement (3 hours old)

Betting market data analysed by FT shows surge in gambling on July election before UK prime minister called snap poll

The law behind the Tory party election-betting scandal (4 hours old)

Four people have been embroiled so far: 2 candidates, the party’s campaign director and a police officer

‘Every Tory I know is angry’: betting scandal sends election campaign into ‘freefall’ (2 hours old)

Rishi Sunak is facing severe criticism from within his party over his handling of the saga

The danger of deepfakes is not what you think (9 hours old)

Instead of wreaking political damage, AI-generated content can be useful for election campaigns

Markets ignore the internal politics of central banks at their peril (4 hours old)

There are significant institutional constraints on the Fed and the ECB’s room for manoeuvre

Revolut seeks valuation of more than $40bn in employee share sale (3 hours old)

SoftBank-backed fintech is confident its value has increased over 20% since 2021 fundraising

Philippines secretly reinforces ship at centre of South China Sea dispute (5 hours old)

The Sierra Madre has become the most dangerous flashpoint in the Indo-Pacific

Philippine video shows clash with Chinese coastguard that injured soldier (16 hours old)

Footage released by Manila reveals sharpest escalation yet over disputed Second Thomas Shoal

Everton enters exclusive sale talks with billionaire Friedkin family (2 hours old)

Texas-based owner of AS Roma starts due diligence after collapse of 777 Partners deal

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Business | The Guardian

Bank of England keeps interest rates at 5.25% in ‘finely balanced’ decision (6 hours old)

Seventh consecutive freeze comes despite fall in rate of inflation to 2% target last monthBusiness live – latest updatesThe Bank of England has held interest rates at 5.25% for the seventh consecutive time in what it described as a “finely balanced” decision.Dashing Rishi Sunak’s hopes of a pre-election cut in the cost of borrowing, a majority of the Bank’s monetary policy committee (MPC) said they wanted to see further evidence that price growth would remain subdued. Continue reading...

The economy: how 14 years of Tory rule have changed Britain – in charts (7 hours old)

The effects of austerity, Covid, war and the cost of living crisis are still haunting government and domestic finances While inflation figures usually generate a news story in their own right, last month’s figures led to the biggest news line of them all.Rishi Sunak’s surprise announcement that he would hold a snap election on 4 July came hours after April’s inflation figures were announced. They were widely reported to have heavily influenced his decision to take the country to the polls. Continue reading...

Post Office investigator deleted mention of Horizon failure, inquiry hears (3 hours old)

Graham Ward questioned over edits to 2006 draft witness statement in case of wrongly convicted operative A former Post Office investigator deleted part of a draft witness statement that referred to the Horizon IT system’s failures, before the criminal prosecution of a post office operative, a public inquiry has heard.Graham Ward, a former Post Office financial investigator, was questioned before a public inquiry examining what MPs have described as one of the biggest ever miscarriages of justice. Continue reading...

Future impact of proposed fossil fuel projects must be assessed, UK court rules (9 hours old)

Landmark judgment says planning bodies must account for burning of extracted fuel when considering site proposalsThe climate impact of burning coal, oil and gas must be taken into account when deciding whether to approve projects, the supreme court in London has ruled.The landmark judgment, handed down on Thursday, sets an important precedent on whether the “inevitable” future greenhouse gas emissions of a fossil fuel project should be considered. Continue reading...

YouGov shares almost halve in value after sales and profits warning (4 hours old)

Polling company says sales bookings have been lower than anticipated since half-year figures in MarchShares in the polling company YouGov plunged by almost half on Thursday after the UK research and analytics company warned that sales and profits would be lower than expected this year.The firm, which is best known for its political polling but generates most of its revenues from providing consumer data and analysis to businesses, said sales bookings had been lower than anticipated since it reported half-year figures in late March. Continue reading...

Royal Mail owner faces £900m class action claim for ‘abusing dominant position’ (5 hours old)

International Distribution Services served with action over sending out ‘bulk mail’, including bank statements and weekly magazinesThe owner of Royal Mail is facing a near £900m class action claim over accusations it abused its “dominant position” in the market for sending out bulk mail, including bank statements and weekly magazines.International Distribution Services (IDS) has been served with an £878m action by a newly formed company that said it represents an estimated 290,000 customers who claim they were overcharged as a result of Royal Mail’s behaviour. Continue reading...

NatWest to take on most of Sainsbury’s Bank (8 hours old)

Deal comes as supermarket seeks to offload businesses in order to focus on core grocery armBusiness live – latest updatesNatWest will take on most of Sainsbury’s banking business, in a deal that will add 1m customer accounts to the lender’s books in the latest wave of consolidation in the sector.The lender is to take on the bulk of Sainsbury’s Bank assets, including its outstanding credit card, unsecured personal loan and savings accounts. Continue reading...

UK parties ignoring food shortage risks, say farming and retail bodies (5 hours old)

NFU and the BRC write to Tories, Labour and Lib Dems over lack of focus on food security in campaignsFarmers and supermarkets have accused the main political parties of ignoring the risk of severe food shortages in Britain, calling the issue a “worrying blind spot” in their general election campaigns.The UK’s main farming and food and drink bodies have joined forces to voice their frustration at the lack of focus on food security by politicians as the attempt to gain votes, despite the headwinds faced by producers. Continue reading...

Families of Boeing crash victims demand prosecution for ‘deadliest corporate crime in US history’ (7 hours old)

Attorney for families says plane maker should be fined $25bn, but amount could be reduced if Boeing improved safety standardsFamilies of the victims of two Boeing 737 Max 8 crashes in Ethiopia and Indonesia have demanded that the plane maker be criminally prosecuted and fined $25bn for “the deadliest corporate crime in US history”.In a letter to the US justice department, Paul Cassell, an attorney for 15 victims’ families, said that the amount is “legally justified and clearly appropriate”, but could be significantly reduced if Boeing improved safety standards and agreed to an independent moni[...]

Gambling watchdog looks into second Tory candidate over alleged election bet (6 hours old)

Party urged to suspend Laura Saunders, whose husband – the party’s director of campaigns – is also reportedly being looked atRishi Sunak has become mired in a row over alleged betting on the general election date after it emerged that a second Conservative candidate and the party’s campaigns director were being looked into by the Gambling Commission.The watchdog is examining bets allegedly placed by Laura Saunders, the Tory candidate in Bristol North West, and her husband, Tony Lee, who is now on leave of absence from his job at party headquarters. Continue reading...

Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024

Telecoms

Auditor refuses to sign off accounts of Lycamobile UK  (4 days old [16/06/24])

Disclosure puts further pressure on telecoms group and former Conservative party donor

Broadband groups Netomnia and Brsk agree tie-up (5 days old [15/06/24])

Deal is latest example of consolidation in fast-growing sector providing alternative full-fibre networks

BT should welcome the call of its latest billionaire investor (7 days old [13/06/24])

Less affluent shareholders in the telco might take heart from Carlos Slim’s interest

EU faces telecoms ire over new Standard Essential Patent rules (7 days old [13/06/24])

While companies may agree on need for more transparency, questions are raised over draft law’s practicality

Mexican billionaire Slim takes 3% stake in BT  (8 days old [12/06/24])

Latin America’s richest man is latest high-profile investor in telecoms group

Billionaires Mittal and Ambani take on Musk in India’s internet space race (11 days old [09/06/24])

Bharti Airtel’s joint venture with Eutelsat OneWeb could start operating in June

America’s ‘cable cowboy’ lost out in infrastructure boom (35 days old [16/05/24])

Wrangling media and telecoms products into business models that produce durable profits has proved to be tough going

BT’s CEO says she ‘loves to squeeze’ short sellers as shares jump (35 days old [16/05/24])

UK’s biggest telecoms group rises 17% as Allison Kirkby announces strategy and raises dividend

Investors place record £300mn bet against BT (37 days old [14/05/24])

New chief executive Allison Kirkby is battling to reverse declining share price

What I wish I’d known before my smartphone was snatched  (40 days old [11/05/24])

As phone theft surges, how can you protect your financial data?

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Technology sector

Higher earners face greater AI exposure, study finds  (3 hours old)

Research estimates how much the fast-evolving technology hits various jobs, from software engineers to mechanics

Revolut seeks valuation of more than $40bn in employee share sale (3 hours old)

SoftBank-backed fintech is confident its value has increased over 20% since 2021 fundraising

Nvidia tide is lifting the tech sector (4 hours old)

Chipmaker is the main winner but other companies are seeing big gains from the AI boom

Booking.com chief slams EU over ‘dumb’ regulations  (8 hours old)

Glenn Fogel says burden from bloc’s new digital rules is putting online travel giant at a ‘competitive disadvantage’

The danger of deepfakes is not what you think (9 hours old)

Instead of wreaking political damage, AI-generated content can be useful for election campaigns

Can TSMC bring a new shape to AI? (13 hours old)

The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times

It’s an AI market now (15 hours old)

And that is worrisome

Meta Oversight Board’s Helle Thorning-Schmidt: ‘Not all AI-generated content is harmful’ (17 hours old)

The former Danish PM says her panel’s decisions have helped the social media giant grow up — and that other platforms should use its services

OpenAI co-founder Ilya Sutskever announces rival AI start-up (23 hours old)

Safe Superintelligence Inc to focus on safety and comes a month after star researcher quit the ChatGPT maker

Adobe’s AI-powered future hits a roadblock (1 day old)

Regulator’s lawsuit threatens to disrupt design software group’s focus on artificial intelligence

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

BBC News

Bank opens door for August interest rate cut (5 hours old)

The Bank of England keeps borrowing costs unchanged, but hints it could cut rates later in the summer.

What are the parties saying about housing? - Your questions (4 hours old)

Our cost of living correspondent answers your questions about housing and personal finance.

Row over first-time buyer help as parties trade blows (1 hour 33 minutes old)

Labour and the Tories accuse each other of failing to match promises on housing, a key election issue.

When will mortgage rates come down? (7 hours old)

Bank of England interest rates affect mortgage, loan and savings rates for millions of people.

Workers sue Disney after moving for cancelled project (2 hours old)

Workers are suing for damages after uprooting their lives and selling family homes.

How mobile phone networks are embracing AI (22 hours old)

Providers are increasing using artificial intelligence to maintain a reliable service.

Post Office sorry after sub-postmaster data leak (3 hours old)

Former sub-postmasters react angrily as the company launches an urgent investigation into breach.

NatWest to buy Sainsbury's banking arm (13 hours old)

The supermarket chain is withdrawing from retail banking to focus on its food business.

Booking.com warns of up to 900% increase in travel scams (10 hours old)

The online travel firm says generative AI tools, such as ChatGPT, are driving the explosive rise.

Inflation falls to lowest level in almost three years (1 day old)

Inflation has hit the Bank of England's target for the first time in almost three years.

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UK equities

Zilch warns it might ‘go somewhere else’ unless UK boosts IPO market (1 day old)

Fintech’s chief says he has had positive discussions with Conservative and Labour parties ahead of possible listing

Wise shares tumble after forecasts disappoint (7 days old [13/06/24])

UK fintech to step up investment in payments infrastructure as it battles for customers

Peel Hunt boss says ‘switch has been flicked’ on gloomy City sentiment (7 days old [13/06/24])

Steven Fine says London’s listings market showing ‘tentative’ signs of recovery

Fund managers give cool reception to prospect of Shein London IPO (14 days old [06/06/24])

ESG concerns may undermine support for potential blockbuster flotation

A cautious revival of the London IPO market (15 days old [05/06/24])

New listings could shore up the positive mood in the City

Hedge fund short sellers burnt by flurry of UK takeover bids (16 days old [04/06/24])

Managers scale back or ditch bets against London-listed stocks after M&A activity drives sharp share price rises

Is the London market regaining its fundraising mojo? (17 days old [03/06/24])

After the election British policymakers urgently need to jump-start the City’s capital-raising engine

Fresh calls for action on IHT breaks after 68 estates shelter £1.8bn in assets  (17 days old [03/06/24])

Critics of inheritance tax regime call for tighter rules on relief for Aim-listed holdings

London stock market bucks IPO drought with rush of follow-on deals (20 days old [31/05/24])

UK exchange the most active in Europe as investors offload stakes in secondary transactions

Nick Train apologises for poor investment performance  (23 days old [28/05/24])

UK fund manager blames lack of exposure to tech and fossil fuel stocks as well as broader ‘malaise’ in UK market

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Opinion

China’s shopping slump will force ecommerce laggards overseas (1 hour 9 minutes old)

A sales drop has exposed the gap between rivals with a global presence and those relying on domestic customers

Israel and Hizbollah’s dangerous slide towards all-out war (3 hours old)

A week of belligerent rhetoric underscores the threat of escalation

Private equity swerves to avoid another costly Hertz bankruptcy  (3 hours old)

Fresh cash will buy some breathing room but the costs involved will soak up much of any subsequent value creation

Markets ignore the internal politics of central banks at their peril (4 hours old)

There are significant institutional constraints on the Fed and the ECB’s room for manoeuvre

Nvidia tide is lifting the tech sector (4 hours old)

Chipmaker is the main winner but other companies are seeing big gains from the AI boom

Tate & Lyle buys big to try to make processed food healthier (6 hours old)

Acquisition of CP Kelco has logic but integrating such a large and underperforming business will be a challenge

YouGov gets shock poll result from consultancy slowdown (9 hours old)

Profit warning in unscheduled trading update sent shares tumbling

It’s time to reset EU-UK relations  (9 hours old)

The geopolitical landscape means member states now have an interest in rethinking how to work with London

The danger of deepfakes is not what you think (9 hours old)

Instead of wreaking political damage, AI-generated content can be useful for election campaigns

The Goods Shed, Canterbury: a pilgrimage worth making – review (11 hours old)

Finally, a chef who understands desserts

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Ipswich