• Taylor Farms to Remove Products After Lettuce Is Linked to Cyclospora Cases — The New York Times Business - 20:32
• Cyclospora Investigation Turns to Farms in Mexico — The New York Times Business - 20:30
• Trump Media pitched $100,000 monthly fee for fast feed of president’s posts — Financial Times - 20:24
• US chip stocks notch up worst week in more than a year — Financial Times - 20:22
• Apple briefly leapfrogs Nvidia as world’s most valuable company — Financial Times - 20:17
• Stocks Sink on Anxiety About Tech and A.I. Spending — The New York Times Business - 20:17
• China’s Moonshot AI Unveils Kimi Model, Threatening America’s Lead — The New York Times Business - 20:04
• Oil Prices Rise to Highest Level in a Month as Shipping in the Persian Gulf Nears a Halt — The New York Times Business - 19:28
• The Burnham era begins: Mahmood set for chancellor — Financial Times - 19:03
• Reform UK volunteer who made homophobic remarks hosted patrons’ event — Financial Times - 18:57

Wall Street tech stocks sliding and anxiety about AI spending reflect a turbulent market, even as Apple briefly leapfrogs Nvidia in valuation, while China's Xi Jinping pitches openness for AI development but also aims to challenge US dominance with Chinese AI models narrowing the cyber gap and Moonshot launching a competitive model, prompting Apple to target OpenAI employees and raising dangers of investor fatalism regarding geopolitical tech threats.

• Wall Street tech stocks slide as AI trade goes into reverse — Financial Times -
• Stocks Sink on Anxiety About Tech and A.I. Spending — The New York Times Business -
• Xi Jinping of China Pitches ‘Openness’ in Push to Shape the Path of A.I. — The New York Times Business -

• Big Tech Firms Like Oracle Turn to Bonds to Finance A.I. Data Centers — The New York Times Business -
• Apple briefly leapfrogs Nvidia as world’s most valuable company — Financial Times -
• Chinese AI models narrow cyber gap with US rivals — Financial Times -
• Apple targets dozens of OpenAI employees with legal letters — Financial Times -
• FirstFT: Xi outlines China’s ambitions to challenge US dominance in AI — Financial Times -
• Chip and memory stocks slide in fresh bout of Wall Street tumult — Financial Times -
• China’s Xi Touts Open-Source AI and Takes a Swipe at U.S. Dominance — Wall Street Journal -
• The dangers of investor fatalism — Financial Times -
• Xi sets out China’s goal to be global AI leader — Financial Times -
• Chinese AI start-up Moonshot launches model challenging Anthropic’s lead — Financial Times -

The incoming Prime Minister Andy Burnham is set to oversee a beefed-up business department and promises to be pro-business while facing old problems on how to make Britain's economy grow, with calls for him to heed lessons on the economy and develop an industrial revival that joins up local needs and strengths, despite Andy Burnham ghosting the UK business community and needing to acknowledge that hope is not enough to govern.

• Jonathan Reynolds set to oversee beefed-up business department — Financial Times -
• Seven charts Britain’s next PM should see — Financial Times -
• Andy Burnham will find that hope is not enough to govern — Financial Times -

• New Prime Minister Faces Old Problems: How to Make Britain’s Economy Grow — The New York Times Business -
• Burnham promises to be ‘pro-business’ as he is crowned Labour leader — Financial Times -
• Submit your questions: How will Andy Burnham govern the UK? — Financial Times -
• Burnham’s industrial revival will join up local needs and strengths — Financial Times -
• Inside the year-long plan to make Burnham Labour leader — Financial Times -
• The lessons Burnham must heed on the economy — Financial Times -
• Andy Burnham ghosts the UK business community — Financial Times -

Ukraine's rift over battlefield strategy and the Zelenskyy government's turmoil continue, while shipping in the Persian Gulf nears a halt and oil prices rise as the US escalates attacks on Iran, forcing Iraq's new leader to woo Washington amid ongoing Iran war dynamics where Modi steps up India's hunt for critical minerals, impacting UK mortgage rates due to renewed Middle East hostilities, and ConocoPhillips joins BP on redeveloping the Kirkuk oilfield.

• Ukraine’s rift over battlefield strategy breaks into the open — Financial Times -
• Shipping in the Persian Gulf Nears a Halt and Oil Prices Rise — The New York Times Business -
• ConocoPhillips joins BP on redevelopment of supergiant Kirkuk oilfield — Financial Times -

• US escalates attacks on Iran as it expands range of targets — Financial Times -
• ‘Handsome’ and ‘a great fighter’: Iraq’s new leader woos Washington — Financial Times -
• Beijing Rejects Trump’s Claim of Meddling, but Avoids a Fight — The New York Times Business -
• Gas Prices Will Stay Higher for Longer, Even if Oil Falls — Wall Street Journal -
• Zelenskyy government in turmoil after defence minister fired — Financial Times -
• Why Iran is returning to war — Financial Times -
• UK mortgage rates rise again after resumption of Middle East hostilities — Financial Times -
• How far will Iran go for the Strait of Hormuz? — Financial Times -
• Modi steps up India’s hunt for uranium and critical minerals — Financial Times -
• Trump revives election meddling claims ahead of midterms — Financial Times -

Reformation's IPO bets on fast fashion, Walmart further shuffles top executives, and South East Water struggles for new funding, while Netflix shares slide on disappointing forecasts, Fifth Third profit is boosted by an acquisition, and Burberry reports sales growth amid turnaround efforts, as IBM experiences a historic stock plunge and Saab and Volvo Car expect strengthening sales, with Sweden's EQT expecting strong fundraising and celebrity-backed Kopi Kenangan meeting banks for a potential IPO alongside India eyeing a market comeback with SBI Funds Management IPO.

• Reformation IPO bets fast fashion can keep up with Big Fashion — Financial Times -
• Walmart Further Shuffles Top Executives — Wall Street Journal -
• South East Water warns it is struggling to secure new funding — Financial Times -

• Netflix shares slide on disappointing growth forecasts — Financial Times -
• Fifth Third Profit Boosted by Comerica Acquisition — Wall Street Journal -
• Burberry Reports Sales Growth as It Moves Forward With Turnaround Plan — Wall Street Journal -
• The Boardroom Debate That Led to IBM’s Historic 25% Stock Plunge — Wall Street Journal -
• This Shortcut to Private-Equity Riches Is Minting Young Millionaires — Wall Street Journal -
• Saab Backs Guidance as Defense Demand Remains Strong — Wall Street Journal -
• Volvo Car Expects Sales to Strengthen on European Growth, U.S. Recovery — Wall Street Journal -
• Sweden’s EQT Expects Strong Fundraising Momentum as It Posts Higher Net Profit — Wall Street Journal -
• The mega-IPO glut comes with a containment problem — Financial Times -
• Celebrity-Backed Indonesia Coffee Chain Meets Banks for Potential IPO — Wall Street Journal -
• India eyes market comeback with $1bn IPO for SBI Funds Management — Financial Times -

The EU plans to give industry more time to pollute but also more funds to clean up, revealing climate vs industry trade-offs, while many companies have abandoned their climate goals, though Heineken is trying a heat battery as an innovative approach to reduce emissions.

• EU to give industry more time to pollute and more funds to clean up — Financial Times -
• How Companies Have Abandoned Their Climate Goals and Let Themselves Off the Hook — The New York Times Business -
• Heineken Is Trying a Heat Battery to Generate Steam for Its Brewing — Wall Street Journal -

• Brussels seeks climate vs industry trade-offs in ETS revamp — Financial Times -

America's enterprising spirit is booming, yet the Pentagon's escort policy for journalists is temporarily restored, while Social Security tries to stabilize after staffing cuts and states rush to fill graduate loan gaps opened by federal budget bills, and a new blow to tracking gun sales emerges, alongside Poolhouse, a tech-infused pool hall start-up, raising significant funds, and cooler inflation may not be enough to stave off Fed rate increases, with the Truth Social parent selling faster access to Trump's posts.

• America’s Enterprising Spirit Is Booming After Decades-Long Slump — The New York Times Business -
• Pentagon’s Escort Policy for Journalists Is Temporarily Restored — The New York Times Business -
• A Year After DOGE Cuts, Social Security Is Trying to Stabilize — The New York Times Business -

• States Rush to Fill Graduate Loan Gap Opened by G.O.P. Budget Bill — The New York Times Business -
• A New Blow to Tracking Gun Sales — The New York Times Business -
• Poolhouse, a Tech-Infused Pool Hall Start-up, Raises $55 Million — The New York Times Business -
• Cooler Inflation May Not Be Enough to Stave Off Fed Rate Increases — The New York Times Business -
• Parasitic Outbreak Linked to Taylor Farms Lettuce Supplied to Taco Bell — Wall Street Journal -
• Truth Social Parent to Sell Faster Access to Trump’s Posts — The New York Times Business -

A Basic Materials Roundup offers market talk, while the perils of relying on PE ratios are highlighted, and London's relationship with listed companies faces scrutiny, with leverage causing huge swings in South Korea's market, and a Revolut and Spotify investor warns Europe about reliance on US tech, as banks work to keep trade on track when crisis hits.

• Basic Materials Roundup: Market Talk — Wall Street Journal -
• The perils of relying on PE ratios — Financial Times -
• London’s Messi relationship with listed companies — Financial Times -

• ‘A casino for investors’: leverage brings huge swings to world’s best-performing market — Financial Times -
• Revolut and Spotify investor warns Europe over reliance on US tech — Financial Times -
• Keeping trade on track when crisis hits — Financial Times -

America's great World Cup has been a success, with a barbershop coming to a World Cup team, and the "go big or stay home" economy reshaping live music through stadium events, while airline points are supercharging summer travel, and options for super swimming spots in Europe and Explora Journeys' Greek odyssey are explored.

• When a World Cup Team Needs a Trim, the Barbershop Comes to Them — The New York Times Business -
• America’s great World Cup — Financial Times -
• The ‘go big or stay home’ economy reshaping live music — Financial Times -

• Seven super swimming spots in Europe — Financial Times -
• Can Explora Journeys’ Greek odyssey convert a sceptic? — Financial Times -
• A Monster Pile of Airline Points Is Supercharging Summer Travel — Wall Street Journal -