Big congrats to the Financial Times’s banking and deals team: shortlisted for a #LoebAwards in Breaking News category for world-beating coverage of the collapse of Credit Suisse! Fingers crossed we’ll bring home the gold in October! James Fontanella-Khan Arash Massoudi Stephen Morris Owen Walker

Back in London for a couple of weeks 😎

ICYMI, we got hold of Telegram's 2023 financial statement showing: - $342mn in revenues on an operating loss of $108mn - about 40% of revenues from cryptocurrency features - a balance sheet propped up by crypto (Toncoin) Story w Robert Smith ft.com/content/429f90…

It’s a Miami Doom Loop. 😂 Welcome home. ❤️🌉🌁

In another blow for the besieged tech giant, UK regulators accuse Google of anti-competitive behaviour in online advertising. This follows a landmark loss last month in a separate DoJ lawsuit against its search business ft.com/content/66a5bc… via @ft

Elon Musk’s China dream stalls as domestic hybrids rush past Tesla, by Edward White ft.com/content/5efcef… via @ft

How to fix Google search by ⁦Louis Ashworth⁩ via Financial Times on.ft.com/3Xc9Wct

After a bruising loss in the search case, ⁦#Google’s ad dominance is at the centre of its next antitrust showdown “Like all empires, time remains undefeated and the barbarians are at Google’s gate . It’s hard to envision them escaping unscathed.” on.ft.com/3Tp39ef

Since arriving in China, meetings founders and VCs have left me with a very dim view of the current state affairs. Things are so bad. In 2018, 51,302 new startups were founded. Last year, that number was down to 1,202. It took a while for that number to sink in.

OpenAI launches AI models it says are capable of reasoning ft.com/content/af6b29… via @ft

this is the guy behind Trump's new crypto startup World Liberty

scoop: Abu Dhabi’s Mubadala takes stake in Revolut ft.com/content/c718dc… w the team Akila Quinio Chloe Cornish

Amazon CEO Andy Jassy orders global staff back to the office five days a week, in possibly the strictest corporate crackdown seen yet on remote working post-pandemic ft.com/content/401e13… via @ft

Intel outlines plans to cut more costs and boost its flagging AI chip business. The US Defense Department is also giving it $3bn to make chips for the military, on top of the $19.5bn Intel has already been promised under the chips act Michael Acton ft.com/content/91925f… via @ft

BlackRock & Microsoft are planning a new $30bn fund to invest in AI infrastructure (data centres & power generation), just the latest example of the vast sums being committed to AI. Also backed by new UAE fund, MGX and advised by Nvidia ft.com/content/444111… via @ft

Investors pile into OpenAI’s $6bn funding round in unprecedented bet, but at a $150bn valuation, is it still a venture investment? ⁦George Hammond⁩ for Financial Times on.ft.com/4ev07gz

Amazon says staff need to be in the office 5 days a week. Most of Silicon Valley (and the FT commentariat!) disagrees. Read the story this Friday from your bed/sofa on Financial Times for free on.ft.com/4e7iN6z

Lunchtime gossip used to fuel the City. It’s time for a comeback via Financial Times Excellent and fun piece from ⁦C:\temp\⁩ on.ft.com/3BkxlAY