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Business
Wall Street panics over prospect of a socialist running New York City
On Wednesday morning, the world’s epicenter of capitalism woke up to find it might soon have a socialist mayor. Democratic socialist Zohran Mamdani’s stunning win over former…
Asda sinks to £600mn loss as it struggles to regain ground
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Asda plunged to a near £600mn loss last year as weak…
Charlotte drops Tesla from approved city vehicle list, alleging safety issues and lawsuits
Charlotte City Council in North Carolina voted Monday to remove Tesla from its list of approved vehicle manufacturers for municipal use, with one supportive member citing…
Nvidia shares hit record high on renewed AI optimism
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nvidia shares hit a record high on Wednesday, marking a…
Lawmakers grapple with questions of safety vs speed in AI race with China
Congressional lawmakers on Wednesday questioned the balance between speed and safety when discussing artificial intelligence (AI) regulations and the need for the U.S. to…
Federal Reserve unveils plans to reduce capital rules imposed after 2008 crisis
Stay informed with free updatesSimply sign up to the US financial regulationmyFT Digest -- delivered directly to your inbox.The Federal Reserve has kicked off one of the largest…
Microsoft plans 'substantial' job cuts across Xbox division
Microsoft is planning another round of cuts at Xbox as part of the tech giant's ongoing reorganization. Xbox managers are expecting substantial job cuts across the entire…
Shell denies takeover talks with UK rival BP
Stay informed with free updatesSimply sign up to the Oil & Gas industrymyFT Digest -- delivered directly to your inbox.Shell has denied it is in talks to acquire rival BP…
These popular Fourth of July foods will cost more this year
Fourth of July barbecue costs remain near record highs as inflation and reduced availability of certain food items keep prices "stubbornly high," according to the American…
Czech arms maker slashes interest costs as investors pile into defence
Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldCzechoslovak Group, one of Europe’s largest…