Tech results as it happened: Google, Meta and Microsoft boost AI spending forecasts
Facebook owner’s stock drops 6.5% while Alphabet, Microsoft and Amazon report strong cloud computing growth
Google outpaces Big Tech rivals as AI spending plans rise to $725bn
Meta stock drops on capex increase while Alphabet’s cloud business grows faster than rivals Amazon and Microsoft
Starwood real estate fund halts redemptions as bet on lower interest rates bites
Move comes after fund restricted investors’ liquidity rights two years ago
King Charles III tries to mend the special relationship with United States
Letter: Pakistan makes virtue of necessity with role in Iran talks
From Afnan Wasif, MAIR Candidate and Public Service Fellow, Johns Hopkins SAIS, Washington, DC, US
Letter: Britain’s coastal policy — a mispricing of time
From Saanvi Chaudhary, Panchkula, Haryana, India
Letter: Science and the liberal elite
From Lord Wallace of Saltaire, Liberal Democrat Peer, House of Lords, London SW1, UK
Letter: Let’s look at aid as shared investment in stability
From Jeroo Billimoria, Founder, One Family Foundation; Board Member and Convenor of the Government Council for Social Innovation, Koekoeksweg, The Netherlands
SoftBank plans to list new AI and robotics company in the US
Masayoshi Son plots IPO for business named Roze as soon as this year
FT Crossword: Number 18,359
US indicts Mexican governor on drug charges
Sinaloa governor Rubén Rocha alleged to have close links with deadly cartel
Big Tech’s earnings get ever bigger, and ever less useful
Meta, Alphabet and peers are growing smartly, but their value hinges on hard-to-answer questions about AI supremacy
Powell vows to remain on Fed board as he warns over attacks by Trump
US central bank chief says he will continue as a governor even after Kevin Warsh succeeds him as chair
Met chief calls for greater condemnation of attacks on Jewish targets after stabbing
North London incident described as ‘antisemitic’ by Sir Keir Starmer is declared a terrorist incident by police
Musk says he was ‘a fool’ to fund the launch of OpenAI
Billionaire says Sam Altman wanted ‘halo effect’ of a non-profit while enriching himself in second day of his testimony
Bill Ackman’s Pershing Square USA slides on Wall Street debut
Weak investor demand hits hedge fund chief’s scaled-back double offering
Trump’s $1mn gold card visa fails to excite the world’s wealthy
US government filing shows only 338 people have submitted formal requests for the fast-track residency scheme
FirstFT: Goldman Sachs prevents Hong Kong bankers from using Anthropic’s Claude
Also in today’s newsletter: oil tops $120 and Asian chipmakers surge
Google told staff it is ‘proud’ of Pentagon AI contract after internal backlash
The tech giant signed an artificial intelligence deal with the defence department on Monday
Trump and PGA Tour reunite under gold statue at Doral
Sculpture presides over Cadillac Championship’s return to president’s Miami resort after decade-long absence
Oil tops $120 as Trump signals extended Hormuz stand-off
Brent crude rises for eighth straight day as US president says he will keep naval blockade in place
Italy seeks compensation from Switzerland over nightclub tragedy
‘Gesture’ by Giorgia Meloni’s government escalates feud between neighbours over deadly fire in Swiss ski resort
Volkswagen rolls out cheaper EVs in battle with Chinese carmakers
ID.Polo is one of four planned affordable electric vehicles across the VW, Škoda and Cupra brands
Trump’s Iran war has cost $25bn, Pentagon says
Use of costly missiles and air defence interceptors raises alarm about US readiness for other conflicts