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AkzoNobel to sell unit to Nippon Paint for over $1 billion, FT reports
Dulux paint maker AkzoNobel is nearing a deal to sell its Southeast Asian decorative paints business to Nippon Paint for well over $1 billion, the Financial Times reported on Sunday, citing people familiar with the matter.
Jardines and CK Hutchison pursue Hong Kong supermarket megadeal, FT reports
Hong Kong-based Jardines is in talks with CK Hutchison to buy its supermarket division, which trades as ParknShop, and merge it with Wellcome, the Financial Times reported on Friday, citing people familiar with the matter.
Seattle slips in ranking of best U.S. cities for foreign investment, fueling concerns about business climate
The fourth annual list compiled by British newspaper Financial Times and stock market index Nikkei ranks Seattle 13th among 95 U.S. cities — a drop of 11 places from last year's second-place position.
Amazon's cloud business in Bahrain damaged in Iran strike, FT reports
Amazon's cloud computing operation in Bahrain was damaged after an Iranian strike, the Financial Times reported on Wednesday, citing a person familiar with the matter.
Activate Named #1 Fastest-Growing Leisure & Entertainment Company in the Americas and Canada's Fastest-Growing Company
/PRNewswire/ -- The Financial Times ranked Activate as the #1 fastest-growing Leisure and Entertainment company in the Americas for the second consecutive...
Spain's Santander overhauls Asia-Pacific business, FT reports
Spain's Santander has overhauled its Asia-Pacific business under new management, removed its top banker in Beijing, and tightened employee oversight in the region, the Financial Times reported on Wednesday, citing people familiar with the matter.
OpenAI plans ChatGPT 'superapp' overhaul ahead of listing, FT reports
OpenAI is planning its biggest ChatGPT overhaul yet, aiming to turn it into a "superapp" with coding tools and AI agents to boost revenue ahead of a planned share listing, the Financial Times reported on Sunday.
UK Wants All iPhones to Block Explicit Images Unless You Prove Age
Apple and Google will soon be "encouraged" to build nudity-detection algorithms into their software by default, as part of the UK government's strategy to tackle violence against women and girls, reports the Financial Times. According to the report, Home Office officials want device operating systems to prevent any nudity from being displayed unless users can verify that they're adults through biometric checks or official ID.
KKR eyes multibillion-dollar sale of data center cooling company, FT reports
U.S. private equity firm KKR is working with advisers on a sale of data center company CoolIT Systems for a price tag potentially exceeding $3 billion, the Financial Times reported on Sunday, citing people familiar with the matter.
Nestle nears sale of water business stake at close to €5 billion valuation, FT reports
Private equity firm Platinum Equity is nearing a deal to acquire about a 50% stake in Nestle's European water business in a transaction that would value the joint venture at almost €5 billion ($5.71 billion), the Financial Times reported on Wednesday.
Michael Dell's DFO Management nears take-private deal for Baldwin Insurance Group, FT reports
Dell CEO Michael Dell's DFO Management is nearing a take-private deal for insurance brokerage firm The Baldwin Insurance Group , the Financial Times reported on Sunday.
Italy underwhelmed by Trump envoy's suggestion it should replace Iran at World Cup
President Donald Trump’s U.S. special envoy Paolo Zampolli told the Financial Times that he made the suggestion to the U.S. president and FIFA President Gianni Infantino.
Report: iPhone Memory Costs Set to Quadruple by 2027
Memory could account for as much as 45 percent of an iPhone's component costs by 2027, up from around 10 percent today, according to a JPMorgan analysis cited by the Financial Times ($). Apple buys memory for roughly 250 million iPhones a year and has historically been one of the largest customers in the category. But Apple has reportedly now gone from a position where it could set terms to one where it now has to compete with rivals for supply.
OpenAI's annualized revenue $20 billion less than previously signaled, FT reports
OpenAI's annualized revenue is about $20 billion less than has been previously signaled, the Financial Times reported on Thursday, citing financial documents shared with investors.
BP nears deal to sell solar business to Kuwait-backed consortium, FT reports
BP is in advanced talks to sell its solar business, Lightsource, to a consortium backed by Kuwait's sovereign wealth fund, the Financial Times reported on Friday, citing people familiar with the matter.
AI-generated videos are already displacing actors and livestreamers across China's entertainment industry
In China, 95 percent of the 128,000 short dramas released in Q1 2026 were AI-generated. Some actors are being forced to hand over their voice and likeness to AI tools before getting fired, the Financial Times reports. AI-related labor disputes are rising fast.
Caesars Entertainment considering takeover offers; Tilman Fertitta could bid: report
The Financial Times reported Thursday that Caesars Entertainment is weighing takeover offers, and cited a potential bid from Texas billionaire Tilman Fertitta, who currently is serving as U.S. ambassador to... Read more »
After topping $10B in revenue, Kirkland & Ellis will stop disclosing results
The Chicago-based legal giant will no longer provide financial figures to industry publications after reporting its 2026 results, the Financial Times reports.
MBA Research Ranking: The Most Influential Business Schools
The Financial Times assesses MBA programs in academic research when it comes to reaching and influencing policy makers and practitioners.
The Beclowning of Scott Bessent
One iron law of current politics is that nobody who associates themselves with Donald Trump emerges with a shred of credibility. For some, that’s not a big loss — it’s not as if anyone respected Pete Hegseth even before he decided that the key to military success in an age of drones and AI was more testosterone. For others, however, the costs are real. I’m old enough to remember when Marco Rubio was widely considered a reasonable, thoughtful politician. Right now, however, my candidate for the biggest loser is Scott Bessent, the Secretary of the Treasury. Bessent started out with significant reputation to lose: When Trump selected him, this was the headline in the Financial Times: Jason Furman, Barack Obama’s chief economist, described him as a “credible Treasury secretary who has a real understanding of the global economy”. But Bessent has now transformed himself into the Baghdad Bob of bonds. Three weeks ago, after intervening (for reasons that remain somewhat unclear) to support the Japanese yen, Bessent boasted about his ability to move markets and dared investors to bet against his, declaring “I am the house now.” He then tried to push long-term interest rates down, buying 30-year U.S. Treasuries in a move some have compared to paying down part of your mortgage by running up your credit card balance. Here’s how that’s going so far: To get some perspective on how high interest rates have gone, here’s a longer-term perspective: We haven’t seen interest rates this high since the fading days of the dotcom bubble. Why are interest rates hitting new records? The backdrop, as I argued in last Sunday’s primer, is the huge AI-driven investment boom; more on that next week. But the immediate cause of the latest interest rate spike was Trump’s rejection of an Iranian proposal to end the war. This rejection sent crude oil prices, which for a while had fallen considerably, shooting back up: It’s notable, by the way, that oil prices remain high even though a significant amount of oil is now being shuttled through the Strait of Hormuz by night, on smaller vessels. That’s an interesting story, which has a lot to do with the fact that oil from the Hormuz shuttle runs must be transferred to larger vessels before being shipped to markets in Europe and Asia; around 15 percent of the world’s large crude carriers are now parked off the coast of Oman, waiting to be tanked up. This is creating a shipping crunch: But that’s a topic for another day. For now, the point is that with oil still high and refined products, especially diesel, still close to record levels, inflation will remain elevated. And this in turn means that the Federal Reserve will keep short-term interest rates high, an expectation that is feeding into longer-term rates. Hence Bessent’s bond-market humiliation. The truth is that Bessent might not have been able to get interest rates down even in the best of circumstances. But he certainly won’t get anywhere as long as Trump keeps believing that he can somehow convert his Iran debacle into a triumphant victory. And Trump will keep believing that as long as he is surrounded by sycophants who tell him what he wants to hear. Sycophants like, for example, Scott Bessent, who is predicting the imminent collapse of the Iranian economy, possibly within two weeks. Bessent is right to say that the embargo on Iranian oil exports is placing the country under great economic strain. But his implicit prediction that this will quickly produce a deal that Trump can call victory looks no more plausible than his boasts about the bond market. The big question now is, why would anyone with a reputation to lose work for Donald Trump? As the beclowning of Bessent shows, joining the Trump team won’t just damage your reputation; it will utterly destroy it.
INSEAD Holds Top Spot In Financial Times European Business School Ranking
A look at how European business schools fare across Full-Time MBA, Executive MBA, MiM, and Executive Education measures
Apple's Google Gemini Deal Could Be Worth $5 Billion
Apple's newly announced partnership with Google to use Gemini models for Siri and Apple Intelligence could be worth as much as $5 billion, according to one analyst's estimate. The deal is structured as a cloud computing contract that will see Apple pay "several billion dollars to Google over time," according to the Financial Times (paywalled), citing a person familiar with the agreement. Gene Munster at Deepwater Asset Management puts the value at $5 billion for Google.
Bond breakout? Big effects of bad data. Immigration and thermostatic politics & dad-chat is coming for dad-books.
Thank you for opening your Chartbook email. Anna Airy, A Shell Forge at a National Projectile Factory, Hackney Marshes, London, 1918 Bond breakout - John Authers Across the developed markets, bond markets are staging a slow-motion car wreck. Looking at the drastic moves in the US, Japan, the UK and France, Barclays’ Ajay Rajadhyaksha commented: “Last week, long bonds broke. Not in one country. In all of them. Simultaneously. Four countries. Four different political systems. Four different central banks. But the same trade — “get me out of duration!”” Each country has its own contributing political problems, but the uniformity of the shift out of long-term bonds with high duration makes clear that something broader is afoot. For Rajadhyaksha, it is “simple and uncomfortable.” The developed world “has too much debt, too little fiscal discipline, and no political appetite for fixing either.” If there’s a trigger, it has been the Iran war and the resulting shock to oil supply. Source: Bloomberg G7 countries are now borrowing at rates that were enjoyed by EM in the early 2020s For contributing subscribers only. Subscribe Trade between China and Russia has grown in recent years For contributing subscribers only. Subscribe Big effects of bad data A decade ago nearly nine in ten Americans, when approached, agreed to fill out the Current Population Survey, which is administered to about 60,000 households each month and asks about, among other things, employment. Fewer than seven in ten do so now (see chart 1). For the Consumer Expenditure Survey, which tries to capture 3,700 households monthly, the response rate is down from 68% to 40%. … When the information becomes less reliable, investment decisions get more difficult to make. Some may be delayed, creating a potential drag on the economy. A new working paper by Nicholas Bloom of Stanford University, Erica Groshen, former head of the Bureau of Labour Statistics (BLS) now at Cornell University, and Duncan Hobbs and Michael Strain of the American Enterprise Institute, a think-tank, hazards an estimate. Preserving trust in “the integrity and quality of official statistics”, the authors claim, generates economic benefits of about $25 for every $1 spent on the BLS, the agency with an annual budget of $700m that is responsible for many of these data. To arrive at their conclusion the quartet analysed an ignoble episode in the BLS’s recent history. On August 1st 2025 Donald Trump sacked Erika McEntarfer, appointed as the agency’s commissioner by his predecessor, Joe Biden. The president alleged, without evidence, that the BLS’s steep downward revision to recent jobs numbers had been “RIGGED in order to make the Republicans, and ME, look bad”. In fact, it was the wanton dismissal that looked bad in the eyes of many observers. In the following seven days there was a 50% leap, relative to the week before, in the average value of the index of Economic Policy Uncertainty (EPU), which tracks the number of articles mentioning such uncertainty that are published daily in American newspapers. This was a discernible jump even when compared to the chaos caused by Mr Trump’s trade war in April 2025 and his real one in Iran in the past two months (see chart 2). Based on Mr Bloom’s earlier study with other colleagues of the EPU’s impact on business investment, industrial production and employment, the authors estimate that the jump reduced American GDP by over $100bn (0.3%) and non-farm payrolls by 168,000 (0.1%). Source: The Economist Immigration and thermostatic politics (Sarah O’Connor in the FT) A strange thing happened a year and a half ago. No sooner had Americans elected Donald Trump as president on an explicitly anti-immigration platform than US public opinion began to swing much more favourably towards immigration. … to political scientists who study “thermostatic” politics, this development is no surprise at all. Public opinion often moves against the prevailing party, especially if they are perceived to have gone “too far” in one direction. The phenomenon was first explored in the 1990s with reference to fiscal policy, but in recent years it has been particularly evident in the realm of immigration policy. While these swings in opinion polls can make it seem as if people don’t know their own minds, they can be a useful democratic check on governments by sending bright flashing warning lights when policies stray too far from the public’s comfort zone. The problem comes when politicians misinterpret those signals. When people tell pollsters they want less immigration, or think it is bad for the country overall (or the converse), they are often expressing an opinion about how things appear to be going in that moment relative to their preferences, rather than a deep shift in their underlying views. According to Alexander Kustov, a political scientist, most Americans’ views are quite stable and moderate: they support immigration that is controlled and in the national interest, and oppose flows that are disorderly or under-enforced. In the US, he argues the Trump administration over-interpreted dissatisfaction with high immigration under Joe Biden, and implemented policies that went too far for many voters. “People don’t necessarily change their idea about their ideal immigration policy, but they can react to what the government is currently doing,” he told me. “A lot of people are not happy with what the Trump administration are doing — right now we’re not talking about border enforcement, we’re talking about people not just getting harassed, but killed.” But similarly, he added, pro-immigration advocates would be making a mistake to interpret the recent, more favourable swing towards immigration as a deep-seated ideological shift in attitudes. The recent history of UK immigration policy offers another cautionary tale. After the 2016 Brexit referendum, public concern about immigration fell. This was partly because net migration statistics declined, but also because people felt a sense of catharsis and control, says Sunder Katwala, director of British Future, a think-tank. By 2019, the public ranked immigration as only the ninth biggest issue of concern, according to Ipsos polling. But when the Conservative government liberalised visa routes for students and care workers between 2019 and 2022, that helped net migration to surge. And so, too, did public concern. Today’s Labour government has implemented another sharply restrictive turn in immigration policy. As Kustov and researcher Caitlyn Yates argue, thermostatic public opinion should be a useful check on politicians. Instead it seems to have helped to magnify the pendulum swing in the UK. The government over-interprets and overreacts to a change in public opinion, which reacts in turn, prompting a sudden swing the other way. Source: Financial Times HEY READERS, THANK YOU for opening the Chartbook email. I hope it brightens your day. I enjoy putting out the newsletter, but tbh, what keeps this flow going is the generosity of those readers who clicked the subscription button. If you are persuaded to click, please consider the annual subscription of $50. It is both better value for you and a much better deal for me, as it involves only one credit card charge. Why feed the payments companies if we don’t have to. Subscribe Anna Airy, Shop for Machining 15-Inch Shells: Singer Manufacturing Company, Clydebank, Glasgow, 1918 Racing for a vaccine … we have been here before! The deadly Ebola outbreak in two African countries driven by a virus species with no vaccine has triggered an urgent search for a potential jab, in a test of troubled global efforts to avert threats posed by emerging diseases. A World Health Organization advisory group is due to would meet on Tuesday to recommend candidate jabs to prioritise for clinical trials, the global health body said. It will assess data including an analysis by the Coalition for Epidemic Preparedness Innovations (Cepi), which was set up after failures in the international response to a previous Ebola crisis. The latest Ebola outbreak in Democratic Republic of Congo and Uganda has infected hundreds of people and killed more than 80, health authorities say. Cepi’s reaction will be a crucial indicator of its progress towards its wider goal of producing vaccines for pandemic threats in just 100 days, despite steep cuts to international health funding. “If there was ever a time that we could show the world why Cepi is needed and show the world why the 100-day mission is needed, it’s now,” Nicole Lurie, the organisation’s executive director for preparedness and response, told the FT. “We’re happy to accept that responsibility, but obviously we need help from partners — particularly financial help in the long run.” DR Congo and Uganda would make the final decision on whether to press ahead with any vaccine candidates endorsed for clinical trials by the WHO experts, the global health body said. “Other ethical and community acceptability issues will be considered,” said the WHO, which declared the latest outbreak a public health emergency of international concern on Sunday. “This will be important to make sure that the trial, if it happens, will be adequately communicated to the population.” Lurie said Cepi had provided information from a survey of research teams and companies working on drugs that might be effective against the Bundibugyo virus behind the outbreak. The organisation hoped soon to announce partners in the quest for a jab, she added, although she declined to give a timescale for when one might be developed. Cepi’s Nicole Laurie said global health bodies were ‘getting some live-fire drills’ with hantavirus and the latest Ebola outbreak. The hunt for a vaccine should be helped by scientific advances including the use of artificial intelligence to find drugs active against viruses, Lurie said. Existing jabs against the Zaire Ebola virus responsible for many previous outbreaks might provide a basis for tackling the Bundibugyo species, she added. “We’ll see how far and how fast we can get,” Lurie said, adding that Cepi had done preliminary work recently on a possible jab for the rat-borne hantavirus responsible for a recent fatal outbreak on a cruise ship. “Both with hantavirus and now with Ebola, [we] are getting some live-fire drills.” Source: Michael Peel in the Financial Times Dad-chat is coming for dad-books. (By Pamela Paul and Jeffrey A. Trachtenberg in the WSJ) They were the go-to gifts for Father’s Day: a book about some little-known chapter of World War II, the sweeping narrative of a shipwreck, perhaps the latest presidential biography. These days, dad books are a dying breed. Nonfiction book sales have been in decline for the past four years, and are now the most challenged segment of the print book market. Publishers say certain types of books still fare well—including celebrity memoirs and religious titles. But in recent years, print sales in such categories as biography, current affairs and business and economics—what publishers refer to as “serious nonfiction” and which tend to resonate especially with men—have fallen considerably. Sales of nonfiction print titles were down nearly 8% through May 9 this year, and sales of books about politics and current affairs were down 19%, according to book tracker Circana BookScan. Publishing has long been subject to cyclical changes, with trends in format and genre taking over bookshelves in grand sweeps. (Remember the adult coloring-book craze? Or the stratospheric rise of romantasy?) But many in publishing believe the decline in serious nonfiction is more existential. “The trend couldn’t be clearer,” said Jonathan Karp, the former chief executive of Simon & Schuster and publisher of the new Simon Six imprint. “This is a sea change and people should wake up and realize we’re living in a new world.” One culprit for the shift: a new media diet for fans of more serious nonfiction. … Sixty-two percent of men and 54% of women consumed a podcast in the prior month, according to a recent survey by Edison Research at SSRS, up from 46% and 39%, respectively, in 2023. “When we have internal meetings to talk about this problem, it always comes around to podcasts,” said Jonathan Burnham, president and publisher of the Harper Group at HarperCollins Publishers. “The man who wants to read American history is now tuning into one of the many good podcasts about history that lends the quiet attention to a serious subject he’s looking for. It makes the idea of sitting down with a 700-page Ron Chernow book less appealing. You’ve scratched that itch.” Source: Wall Street Journal Remarkable report by Novara from the nationalist rally in London in mid May. Anna Airy, Leopard Moth and Plums, 1915 If you’ve scrolled this far, you know you want to click: Subscribe
Stephen A. Smith says he ‘inherited’ sports debate format
Stephen A. Smith has a ready answer for anyone who thinks he’s responsible for what sports television has become. In a new profile in the Financial Times, Smith was asked how he responds to critics who argue his format has been bad for the discourse in sports. “I didn’t create it. I inherited it,” he…
OpenAI proposes handing Trump administration 5% stake, FT reports
OpenAI has discussed giving a 5% stake to the U.S. government, the Financial Times reported on Thursday.
Charlotte's Allspring on block for perhaps $4B, FT says
Allspring Global Investments, a Charlotte-based business that was formerly the asset management division of Wells Fargo, is considering a sale that could be as much as $4 billion, the Financial Times reported Friday. No decision has been made and talks are in early stages, according to the report, which cited people familiar with the transaction. […]
GE HealthCare in talks over possible $1 billion deal for Sofie Biosciences, FT reports
GE HealthCare Technologies is in talks over a possible $1 billion deal to buy radiopharmaceutical developer Sofie Biosciences, the Financial Times reported on Sunday citing people familiar with the matter.
How the Epstein files are upending U.K. politics : Consider This from NPR
The latest disclosure from the U.S. Department of Justice’s investigation of Jeffrey Epstein is threatening the U.K. ruling government.New documents have led Peter Mandelson, a former ambassador to the U.S., to resign from Britain’s House of Lords and from the Labour Party.The fallout has already claimed two key staff members close to Prime Minister Keir Starmer, and some in his own party are calling for him to step down too.Edward Luce, chief U.S. commentator for the Financial Times, helps explain the scandal – and why the reaction in the U.K. differs from the U.S.For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org. Email us at considerthis@npr.org.This episode was produced by Jordan-Marie Smith and Connor Donevan, with audio engineering by Hannah Gluvna. It was edited by Patrick Jarenwattananon and Michael Levitt. Our executive producer is Sami Yenigun.
HOK’s John Rhodes Talks Sports Venue Brand Engagement with the Financial Times
The Financial Times featured HOK’s John Rhodes on brand engagement in stadiums and arenas—and what it means for venue design and the fan experience.
Ari Emanuel Is in Talks to Buy ATG Entertainment, FT Reports
Hollywood superagent Ari Emanuel is in advanced talks to buy the theater group ATG Entertainment Ltd. for £4.5 billion ($5.9 billion), the Financial Times reported.
Uber weighs higher bid for Delivery Hero, FT reports
Uber’s board met on Saturday to discuss raising its offer for German food delivery group Delivery Hero after a major shareholder rebuffed an Uber bid that would value Delivery Hero over 11.5 billion euros ($13.39 billion), the Financial Times reported on Sunday.
Rice Business’ online MBA ranked among world’s top programs by Financial Times
Rice’s Jesse H. Jones Graduate School of Business has been ranked among the world’s leading online MBA programs in the Financial Times Global Online MBA Rankings, placing No. 13 globally (tied with the Kelley School of Business at Indiana University) and No. 6 in the United States.
The FT’s AI optimism rests on shaky science
Last weekend, the Financial Times published an article about the broader social impacts of AI. Studying, managing, and mitigating the negative impacts of the technological transition is supremely important, and doing so requires both the electorate and policymakers to be informed by good, impartial science. Unfortunately, for anyone with even basic training in social science [...]Read More...
Caesars considering takeover offers, according to report
The Financial Times is reporting that Caesars Entertainment, which merged with Eldorado Resorts in 2020, is considering takeover offers.
Trump says his 'preference' would be to 'take the oil in Iran'
Trump told the Financial Times that while his "favorite thing" is to take the oil, some "stupid people" would ask, "Why are you doing that?"
Report: Apple Vision Pro Is Still Failing to Catch On
Apple's Vision Pro headset is still failing to see appeal among consumers, according to a new report from the Financial Times. Data from IDC claims that Apple shipped 390,000 Vision Pro units in 2024. IDC expected Apple to ship just 45,000 new Vision Pro units in the latest quarter of 2025. The Financial Times stressed that this compares to millions of iPhones, iPads and MacBooks sold each quarter.
Mass General Brigham to acquire insurer Fallon Health
Massachusetts' insurance landscape is consolidating amid challenging financial times.
LSU sports is barely in the black financially, with uncertain financial times ahead
As LSU sports barely breaks even financially, difficult times potentially lie ahead for both its athletic teams and academic programs.
Unilever, Kraft Heinz held talks to merge food business and condiments division, FT reports
Unilever and Kraft Heinz held talks to merge Unilever's food business and Kraft Heinz's condiments division, the Financial Times reported on Wednesday, citing people familiar with the talks.
Rice Business ranks No. 1 in Texas, No. 16 in US in Financial Times business school rankings
The Jesse H. Jones Graduate School of Business at Rice University has been recognized among top graduate programs in the Financial Times global business school rankings released today, placing No. 1 in Texas, No. 16 in the United States and No. 38 globally.