• SpaceX pitches investors juicy yields in $25bn bond deal — Financial Times - 18:44
• Strait Reopens and Iranian Oil Flows, But the Path Through Is Complicated — The New York Times Business - 18:43
• US chipmakers lead Wall Street slide on rate rise worries — Financial Times - 18:33
• IBM Getting Ready to Scale Quantum Computing — Wall Street Journal - 18:32
• Trump Gives Teamsters a Chance to Shed Oversight Meant to Curb Mob Ties — The New York Times Business - 18:30
• SpaceX Stock Price Is Slumping After Its Blockbuster IPO — The New York Times Business - 18:05
• UK tax loophole used by Shein will not be closed until October 2028 — Financial Times - 18:00
• Starmer risks clash with Burnham over defence funding plan — Financial Times - 17:59
• The Iran War’s Persistent Threat to Farmers in Poor Countries — The New York Times Business - 17:59
• As Chinese Tech Pulls Ahead, U.S. Fears It Will Become Dependent — The New York Times Business - 17:53

Global financial markets are experiencing a significant tech-led sell-off, while the US and China tech rivalry intensifies over supercomputers and megafactories; meanwhile, SpaceX's market value has tumbled, and OpenAI is pitching ads ahead of its IPO, with South Korean investors diverting AI stock windfalls into property.

• Markets Recoil in Global Sell-Off Driven by Tech Stocks — The New York Times Business -
• FirstFT: Global markets slump as tech sell-off deepens — Financial Times -
• Big Tech leads sell-off in global stocks — Financial Times -

• China Takes Supercomputer Crown From U.S. For First Time Since 2017 — The New York Times Business -
• This Megafactory Is a Test Case for the U.S.-China Tech Race — The New York Times Business -
• SpaceX sheds $400bn in market value as debut rally hits reverse — Financial Times -
• Higher rates and US stocks — Financial Times -
• OpenAI pitches ChatGPT ads to Cannes marketers ahead of IPO — Financial Times -
• Private equity’s new vibe check — Financial Times -
• Top carmakers warn EU tech sovereignty drive will raise costs — Financial Times -
• An AI venture soared as it touted links to Trump. Now it’s fighting for survival — Financial Times -
• South Koreans pour AI stock windfalls into overheated property market — Financial Times -
• Accounting Firm Eide Bailly to Sell Stake to Private Equity in $1.8 Billion Deal — Wall Street Journal -
• Apollo’s flagship private credit fund hit by 17% redemption requests — Financial Times -

The UK economy continues to grapple with the impact of Brexit, notably on labor supply and trade, amidst a turbulent Labour party leadership contest and a high-profile embezzlement conviction within the SNP.

• Those British Strawberries Are Being Picked by Central Asian Workers — The New York Times Business -
• Peter Murrell sentenced to five years in jail for embezzling SNP funds — Financial Times -
• Labour MPs consider backing challenger to Andy Burnham — Financial Times -

• Labour’s Burnham sceptics don’t have the numbers to stop him — Financial Times -
• UK ‘irritated’ by EU move to delay key summit after Starmer’s resignation — Financial Times -
• Brexit Has Cost the UK Growth, Analysts Say, in the Decade Since the Vote — The New York Times Business -
• StubHub UK ordered to pay £1.5mn penalty for ‘drip pricing’ — Financial Times -
• Burnham might just have what it takes to see off Farage — Financial Times -
• UK businesses reject calls to rejoin EU, says CBI chief — Financial Times -
• Draw your own chart game: how well do you know Brexit? — Financial Times -
• What’s next for the UK after Starmer? — Financial Times -

Energy markets are facing shifts with the potential for green steelmaking from current shocks, uncertainty in US gasoline demand post-Iran conflict, and disputes over EU methane rules; concurrently, oil prices remain volatile amid US-Iran talks, and China is seeing major renewable energy investments.

• Could the energy shock kick-start green steelmaking? — Financial Times -
• America’s Thirst for Gasoline May Not Recover After Iran War — The New York Times Business -
• Renewable energy group to raise $3.6bn in China’s biggest IPO for 4 years — Financial Times -

• US and Qatar claim EU methane rules will trigger gas supply crunch — Financial Times -
• Oil Prices Choppy Amid Mixed Signals From U.S.-Iran Peace Talks — Wall Street Journal -
• US and Iran give shipowners conflicting Hormuz orders — Financial Times -
• New York’s green energy rethink is a lesson for the UK — Financial Times -
• How Citadel built an energy empire from Enron’s ashes — Financial Times -

Key corporate announcements include Heineken's new CEO appointment, Porsche's potential job cuts as part of a turnaround, Tesla's substantial sales increase in Europe, and Vuori's global expansion into China; additionally, executive compensation reaches new records, and Eli Lilly explores AI for drug discovery.

• Athleisure Brand Vuori Targets China in Global Retail Push — Wall Street Journal -
• Porsche Could Cut Jobs as It Pushes Ahead With Turnaround Effort — Wall Street Journal -
• Brewer Heineken Taps Peet’s Executive to Fill Vacant CEO Seat — Wall Street Journal -

• Tesla Notches Over Twofold Increase in European Monthly Sales — Wall Street Journal -
• Nissan shareholders vote out director who backed merger with Honda — Financial Times -
• Eli Lilly deploys weight-loss cash on ‘App Store’ for scientists — Financial Times -
• Mukesh Ambani points to succession plan for Reliance Industries — Financial Times -
• Welltower CFO’s $167 Million Pay Package Sets New Record — Wall Street Journal -
• Top-Paid CEOs Smash the $200 Million Payday — Wall Street Journal -

Central banks like the Fed and Bank of Japan are grappling with monetary policy normalization, while Germany and the Netherlands are reforming their public pension markets; simultaneously, Indonesia is implementing stock market reforms that could lead to delistings.

• Germany seeks to set up Swedish-style public pension fund — Financial Times -
• Kevin Warsh is throwing the reaction-function baby out with the dot-plot bathwater — Financial Times -
• Bank of Japan normalisation on course for December increase — Financial Times -

• Warsh has a chance to enact lasting reform at the Fed — Financial Times -
• Netherlands to open up €1.5tn slice of pensions market to foreign providers — Financial Times -
• Indonesia stock market reforms could prompt delistings — Financial Times -

European political stability is tested by a Trump ally blocking Czech access to a NATO summit and Denmark's push for EU deportation centers; furthermore, Albania's PM defends against corruption claims, and Japanese business elites express frustration with Prime Minister Takaichi.

• Trump ally blocks Czech president from Nato summit — Financial Times -
• Why Denmark’s centre-left PM accepts far-right support for her migration plans — Financial Times -
• ‘I’m not the Godfather’, Albanian PM says — Financial Times -

• EU could open deportation centres outside bloc by next year, says Denmark PM — Financial Times -
• Business elites fume as Takaichi shuns Japan’s smoky back rooms — Financial Times -

The hospitality sector sees new boutique hotel openings in Europe and a resurgence of trattorias in London, while 'The View' talk show faces a dispute with the FCC over political speech.

• From Florence to Malta, 5 New Boutique Hotels — The New York Times Business -
• How London fell back in love with trattorias — Financial Times -
• ‘The View’ Asks Its Audience for Help in Battle With F.C.C. — The New York Times Business -