Author: Arabian Media staff

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The chief executive of Hargreaves Lansdown is leaving the UK’s largest investment site after less than two years at the helm, following its £5.4bn private equity takeover. Dan Olley, who took on the top job in August 2023, will hand the reins on an interim basis to Richard Flint, a former chief executive of Sky Betting and Gaming, subject to regulatory approval, the company said. Flint was this year appointed as an independent non-executive director of Hargreaves Lansdown and made chair of…

Inflation-scarred American consumers are putting up with long lines and paying cash for the privilege of shopping at members-only warehouse club stores, fuelling their conquest of the US retail sector. Costco, Sam’s Club and BJ’s Wholesale Club have been taking a larger slice of US retail sales, luring customers with low prices for carefully curated items sold in bulk. Visiting the stores often means wandering aisles formed by towers of merchandise stacked atop shipping pallets, with scarce navigational help from sales clerks. Car parks can be jammed, with vehicles backed up 10 deep for Costco petrol. But to varying degrees, the chains are…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.To a hammer, everything looks like a nail. To a maker of chips that power artificial intelligence, everything looks like a “token”. That is the industry lingo for the units of information an AI model takes in and spits out. Nvidia’s founder Jensen Huang believes the world is on the cusp of a token explosion. His company’s $3.3tn market capitalisation depends on it.Nvidia reported $44bn of revenue in the three months that ended in April, 69 per cent higher than a year…

Hi everyone! This is Cheng Ting-Fang, your techAsia host for this week.I just got back to Taipei from a weekend trip to Singapore to take in the tropical sea views and a Lady Gaga concert — and for a brief, refreshing break after the Computex trade fair.A news alert this month caught my eye: Zhao Weiguo, former chair of Tsinghua Unigroup and a prominent figure in developing China’s semiconductor industry, was handed a suspended death sentence for corruption. This news triggered a vivid memory of my meeting with Zhao years ago, held in a high-ceilinged meeting room furnished with leather…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Donald Trump’s return to the White House has triggered a US-China trade war. With sweeping new tariffs on Chinese imports triggering tit-for-tat Chinese retaliation on US companies, the world’s two largest economies are locked in a battle of wills testing either side’s capacity to withstand pain. At stake is which of the two rivals will emerge as the world’s dominant economic, military and technological power, and how the rest of the world will respond. This exclusive FT subscriber event brought together our expert…

Trump administration still has several avenues to impose levies Source link

Big law firms’ adoption of generative artificial intelligence is well under way across the globe, but their corporate clients say they are yet to see cost savings. In fact, the price for outside legal services continues to rise. In the US, for instance, a recent report from legal operations specialist Brightflag found that outside counsel rates for the top 100 US law firms rose 10 per cent year on year in 2024. “There has not been a fundamental change in how law firms are delivering the work,” says Alex Kelly, co-founder of Brightflag, which uses AI to help in-house teams…

A US court invalidated President Donald Trump’s “liberation day” tariff scheme yesterday. Nvidia reported a nearly 70 per cent surge in quarterly revenues, and the US has said it will not renew Chevron’s oil licence in Venezuela. Plus, Texas and Nevada are seeking to challenge the dominance of Delaware with company-friendly law.Mentioned in this podcast:US trade court invalidates Donald Trump’s reciprocal tariffsNvidia quarterly revenue surges nearly 70% on AI boomUS government will not renew Chevron’s Venezuela oil licenceTexas vs Nevada — the battle to woo companies is heating upToday’s FT News Briefing was produced by Sonja Hutson, Henry Larson and…

Start-up advised by Donald Trump Jr emerges as new threat to sector’s dominant players Flutter and DraftKings Source link

One scoop to start: Christine Lagarde has discussed cutting short her term as European Central Bank president to become chair of the World Economic Forum, according to WEF founder Klaus Schwab.And another scoop: Elon Musk has agreed a $300mn deal with Pavel Durov, founder of Telegram, to distribute xAI’s Grok chatbot to the messaging app’s 1bn users, in a sign of a blossoming partnership between the two mercurial billionaires.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the newsletter. Premium subscribers can sign up here to get the newsletter…