A Reader of the FT

…opportunity to combine technology, lifestyle, and data in a new powerful way through the digital channels that impact consumers directly in ways that have never been done before.”

Linda Yaccarino appointed chief executive of telehealth start-up-“The healthcare industry has been disrupted by technology, but not yet completely transformed by it,” Yaccarino said in a statement on Tuesday. “There is an…
www.ft.com/content/3767... @mshannahmurphy.bsky.social @financialtimes.com

…feeling the effects of Trump’s trade war. Zehra Munir

Caterpillar warns of $1.5bn tariff hit as trade tensions dent earnings-The impact on Caterpillar shows how its customers’ industries — which include construction, mining and oil and gas — are… www.ft.com/content/fdcf... Madeleine Speed @financialtimes.com

…promised $4bn to $5bn of cost reductions against a 2023 baseline. The group also pledged to raise $20bn from asset sales. That announcement failed to win over investors, and BP’s shares are still 10 per cent lower than they were in February.

BP to cut 6,200 jobs as it launches second business review in 6 months Oil major raises dividend after reporting adjusted profits of $2.4bn for second quarter

BP to cut 6,200 jobs as it launches second business review in 6 months—The new review comes after BP announced a “fundamental reset” of its strategy in February, which cut its spending on clean energy, increased its oil production and… www.ft.com/content/b1ea... Malcolm Moore @financialtimes.com

…undermining Silicon Valley’s lead in a global AI arms race. Eleanor Olcott

…alternative to its existing closed AI offerings. Their launch comes six months after advances by China’s DeepSeek caused shockwaves following the release of its open model R1 in January, whose performance was comparable to some of OpenAI’s products… @mshannahmurphy.bsky.social

OpenAI releases open models to compete with China’s DeepSeek Launch of free and more transparent AI systems marks departure from group’s subscription-based closed approach

OpenAI releases open models to compete with China’s DeepSeek—The San Francisco-based company unveiled two “open-weight” models on Tuesday that will be free to access and for developers to customise, providing a more transparent… www.ft.com/content/4f77... @criddle.bsky.social @financialtimes.com

…for clients classified as “politically exposed people”, as well as the added regulatory oversight around any crypto business. Akila Quinio

Donald Trump claims JPMorgan Chase and BofA turned away his business US president escalates rightwing claim that banks deny service to conservatives for political reasons

Donald Trump claims JPMorgan Chase and BofA turned away his business—Banks claim they do not discourage for political reasons and point to the burden of compliance costs… www.ft.com/content/e242... Joshua Franklin @financialtimes.com

Donald Trump rules out Scott Bessent for Federal Reserve chair President says US Treasury secretary took his name out of consideration

Donald Trump rules out Scott Bessent for Federal Reserve chair—He added he did not want to regret the choice, as he has with Powell, whom he tapped to lead the Fed in 2017 before falling out with him the following year. www.ft.com/content/2a6d... @senojerialc.bsky.social @financialtimes.com

…the government is set to announce details of a financial support package for affected companies later this week.

on.ft.com/3J3z2H2 ‘Never compromise’ or ‘Narendra Surrender’? India’s Modi navigates showdown with US

South Africa reels from Trump tariffs as neighbours cut softer deals Ministers race to offer ‘support measures’ to affected companies as coalition squabbles over handling of talks

South Africa reels from Trump tariffs as neighbours cut softer deals—To mitigate the damage, South Africa set up an “export support desk” on Friday to advise exporters on finding new markets, and… www.ft.com/content/7fc9... Rob Rose @financialtimes.com

Iran appoints veteran leader to revamp security after war with Israel Ali Larijani’s selection seen as a moderating force and attempt to rein in hardliners

Iran appoints veteran leader to revamp security after war with Israel—Some commentators in Iran said his appointment suggested a cautious shift towards pragmatism in Iran’s postwar policymaking. www.ft.com/content/fb18... Bita Ghaffari @financialtimes.com

…accusing the oil fund of investing in companies that aid Israel’s occupation of Palestinian territories and the offensive in Gaza.

Norway to review $2tn oil fund’s investments in Israeli companies Finance minister Jens Stoltenberg orders probe after outcry over allegations that groups have aided Gaza offensive

Norway to review $2tn oil fund’s investments in Israeli companies—The world’s largest sovereign wealth fund has become a lightning rod for criticism, with multiple political parties, trade unions and activists… www.ft.com/content/152d... @richardmilne.ft.com @financialtimes.com

…to it purchasing at least 20,000 vehicles across a six-year period alongside fleet partners to deploy robotaxis in a variety of markets from next year. @rafeuddin.ft.com

Uber plans $20bn share buyback Ride-hailing app announces move after posting upbeat outlook for gross bookings

Uber plans $20bn share buyback—Uber has launched services with Alphabet’s Waymo in a number of US markets including Austin and Atlanta. It also signed a multibillion-dollar deal with Lucid in mid-July that will lead… www.ft.com/content/6643... @tim.fo @financialtimes.com

… have simply outcompeted the old-fashioned US farms, making huge investments to grow better products with lower labour costs and better weather.

Donald Trump’s grand plan to save Florida’s tomatoes: make Mexico pay US president has imposed 17% duty on southern neighbour’s exports of the fruit to save dwindling number of local farmers

Donald Trump’s grand plan to save Florida’s tomatoes: make Mexico pay—Mexican farmers deny selling at below their costs and tell a different story to their US counterparts. They say that over time they… www.ft.com/content/b3ec... Christine Murray @financialtimes.com

…many business groups have pointed out that this turned to a surplus in April and May of this year.

Swiss president to present ‘more attractive’ tariff offer to White House Karin Keller-Sutter and economy minister Guy Parmelin’s Washington trip follows Trump decision to hit country with steep tariffs

Swiss president to present ‘more attractive’ tariff offer to White House—Trump last week signalled that the US’s $39bn trade deficit with Switzerland was the key reason for the high levy. However… www.ft.com/content/a710... @mjruehl.bsky.social @financialtimes.com

EU halts retaliatory tariffs as it finalises US trade deal Tariff relief for cars, steel and aluminium yet to be agreed

EU halts retaliatory tariffs as it finalises US trade deal—even as the specifics of a trade deal reached last month, including lower tariffs on European cars, have yet to be signed off by Donald Trump. www.ft.com/content/16c7... @paolatamma.bsky.social @financialtimes.com

…a record 21 per cent to 20 per cent. Last month, it reduced the rate by a further 2 percentage points to 18 per cent.

Russia moves to contain concern over banks’ bad loan exposure Central bank governor insists ‘no need’ for recapitalisation of large lenders despite Moscow’s cooling war economy

Russia moves to contain concern over banks’ bad loan exposure—In June, they finally got their wish, with the central bank lowering its benchmark rate from… www.ft.com/content/5d50... Courtney Weaver @financialtimes.com

…that facilitate trade in Russian oil, said @edwardfishman.bsky.social a senior research scholar at Columbia University’s Center on Global Energy Policy.

Donald Trump readies fresh US sanctions against Russia’s shadow fleet US president has threatened Vladimir Putin with punitive measures to force him to end war in Ukraine

Donald Trump readies fresh US sanctions against Russia’s shadow fleet—Washington could also impose secondary sanctions on banks and oil refineries in other countries… www.ft.com/content/dd50... @amymackinnon.bsky.social @financialtimes.com

…would “not be able to sustain growth”, Álvaro Pereira, outgoing chief economist at the Paris-based organisation, told the Financial Times.