Today
Biden courts Hollywood, while Trump tackles swing state
Some of Hollywood’s brightest stars headlined a glitzy fundraiser for the president, while his opponent was on the hustings in the crucial battleground state of Michigan.
- Darlene Superville and Will Weissert
This Month
Bankers sacked for faking work in rise of ‘mouse jigglers’
US banking giant Wells Fargo dismissed members of its wealth and investment management arm after investigating claims that they were pretending to be busy.
- Hannah Levitt
KPMG to cut 200 jobs | Musk’s $72b payday | Trump promises tax cuts
Read everything that’s happened in the news so far today.
Trump promises tax cuts in pitch to top CEOs
The former president delivered his populist economic pledges to Wall Street titans at a business roundtable event in Washington before the US election.
- Matthew Cranston
Tesla shareholders approve Musk’s $72b pay package
The shareholder vote is a major win for the Tesla chief executive as he seeks to reassert control over the company.
- Jack Ewing and Peter Eavis
US jobless claims jump to the highest level in 10 months
The number of unemployment claims rose 13,000, higher than economists expected.
- Matt Ott
Musk says shareholders approving his $75b pay package
It’s D-Day for the Tesla CEO as shareholders vote on his controversial pay package – with major implications for the billionaire and his company.
- Updated
- Trisha Thadani
Upbeat markets price in rate cut as US inflation eases
US President Joe Biden welcomed the news of falling inflation but said more needed to be done to reduce the cost of living.
- Updated
- Matthew Cranston
- Analysis
- US election
Why Republicans wanted a Hunter Biden acquittal
Republicans aren’t relishing the opportunity to extract political mileage from the conviction of the president’s son. Now they can’t claim Department of Justice bias.
- Jonathan Swan, Maggie Haberman and Michael Gold
The Trump trade hawk who is plotting from jail
Peter Navarro has a dark vision of the global economy. In a Trump 2 presidency which he may shortly be able to put into action.
- The Economist
Hunter Biden found guilty of lying in gun trial
Joe Biden’s son was found to have lied about his drug use to illegally buy a gun, making him the first child of a sitting US president to be convicted of a crime.
- Updated
- Tom Hals and Jack Queen
Joe Biden cuts Trump’s lead on handling of US economy
An FT-Michigan Ross poll also finds the Democratic president edging ahead of the Republican among older voters.
- Lauren Fedor and Eva Xiao
US adds far more jobs than expected in sign of economic health
US employers added a vigorous 272,000 jobs in May, as the economy showed resilience that will prove a boost to President Joe Biden.
- Updated
- Christopher Rugaber
UK tech tycoon Lynch cleared of HP fraud charges in $16.5b deal
Entrepreneur Mike Lynch had been extradited to the United States to face a criminal trial over the sale to HP in 2011, ending a mammoth legal saga.
- Updated
- Rachel Graf
Trump ally Steve Bannon ordered to prison
The ideological champion of the former US president’s MAGA movement was convicted of contempt of Congress.
- Andrew Goudsward
President Trump ‘would unleash inflation across America’
Larry Summers and other economists believe the Republican’s trade and economic policies would drive mortgage rates above 10 per cent.
- Ronald Brownstein
US clears way for antitrust inquiries on Nvidia, Microsoft and OpenAI
The Justice Department will take the lead in investigating whether the behaviour of Nvidia, the biggest maker of AI chips, has violated antitrust laws.
- David McCabe
Global investors pull $60b from ESG funds
Sustainably focused equity funds suffered major cash outflows globally in 2024 because of poor performance and scandals, the first sustained exodus.
- Patrick Temple-West and Will Schmitt
- Opinion
- US election
Why Trump, and not Hunter Biden, is trashing America’s courts
Treating the rule of law as a partisan issue is the mark of a corroded political culture.
- Edward Luce
Biden imposes sweeping measures to bar migrants at Mexican border
The new restrictions are expected to trigger legal challenges from immigrant and civil rights groups who have criticised Biden for adopting Trump-like policies.
- Ted Hesson and Mica Rosenberg
