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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Apple has proposed spending $100mn on an Indonesian manufacturing facility, after the south-east Asian country’s government banned the sale of its latest iPhone over the level of its local investment.The US company has offered to build an accessories and components factory in Bandung, West Java, the industry ministry said in a statement. Apple had initially offered to invest $10mn, it added.Indonesia imposed a ban on iPhone 16 models last month, citing Apple’s failure to meet requirements for 40 per cent local content…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.When regular companies report quarterly earnings, investors peruse them, and the shares move up, down or sideways. When those earnings come from Nvidia, however, the financial world tilts on its axis.The chipmaker’s stock dipped on Wednesday even though it said that revenue and earnings roughly doubled, year on year. The only apparent wrinkle is that its forecast for next quarter’s revenue, at $37.5bn, is barely more than analysts expected, and that earlier in the year, the company was growing even faster. That…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nvidia’s revenue almost doubled from a year ago in the latest show of strength for the chipmaker that has been one of the biggest beneficiaries of the artificial intelligence boom.Revenue for the quarter to the end of October was $35.1bn, a slower pace of growth from the previous quarter but still well above analysts’ expectations for $33.25bn. The company’s revenue guidance for the current quarter was $37.5bn, plus or minus 2 per cent, which met consensus expectations of $37bn. The shares were down…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldThe US Department of Justice is expected to ask a judge to force Google to divest one or more of its core products, including its Chrome browser and Android mobile operating system, among the potential remedies to curb its power over online search.The request, which is due to be filed later on Wednesday, will largely follow a framework outlined in prosecutors’ initial proposal last month, according to a source familiar with discussions between the US states and the DoJ, which…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Being big, technologically advanced and able to serve giant clients is a pretty formidable moat. That’s what has powered shares in giant European software maker SAP over the past year. But the little guy sometimes gets a chance to catch up. Witness Sage, a rare inhabitant of the British tech landscape, whose stock rose by a fifth on strong annual results on Wednesday to reach almost £13bn of market capitalisation. To some extent, this is a relief rally. Sage’s business model — which…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shares in UK software group Sage rose almost a fifth as it reported a jump in annual operating profits, launched a £400mn share buyback and increased its dividend.The FTSE 100 company, which provides accounting and financial software for small and medium-sized enterprises, posted 9 per cent organic revenue growth and a 43 per cent increase in operating profit to £452mn for the year to September.Steve Hare, chief executive, said it had achieved “strong, broad-based revenue growth”, adding that SMEs “remain resilient, despite…

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.ProRata.ai, a US artificial intelligence start-up aiming to bring greater fairness in how media groups are paid for content, has agreed licensing deals with publishers including Daily Mail-owner DMG Media, the Guardian, the Telegraph and Sky News.As part of the deal, which is set to be announced on Wednesday, DMG Media will acquire a stake in ProRata in a funding round that people familiar with the situation said would value the group, which was founded in January, at about $130mn. Nicholas Thompson,…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Klarna should be the kind of story Europe dreams of. A continent without a contender to rival Google, Facebook or Apple has had a rare tech triumph with the Swedish buy now, pay later loan pioneer. The back story of co-founder and chief executive Sebastian Siemiatkowski also speaks to the strengths of, if not Europe, then Sweden. Born in the country to immigrant parents who struggled after they arrived from Poland, Siemiatkowski now runs a company eyeing a big public market debut.The…

Palantir has added more than $23bn to its market capitalisation since Donald Trump was elected US president this month, as investors bet the secretive government contractor will be among the biggest winners of enhanced federal spending on national security, immigration and space exploration.The latest stock rise adds to a blistering rally for Palantir in the past year, with its shares up having almost tripled to $61 per share, giving the company a value of almost $140bn. That surge marked a bigger jump than chipmaker Nvidia in the past 12 months, and pushed Palantir to a larger market cap than Lockheed…

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.The head of the £800mn supercomputer project cancelled by the Labour government has warned the UK risks stifling “science and innovation” by not investing in the advanced technology. Mark Parsons, supercomputing professor at Edinburgh university whose exascale venture had its funding scrapped over the summer, said it would be a “disaster” if the UK did not restart efforts to build next-generation capabilities.“We can’t be a country the scale of Britain without a supercomputer,” he told the Financial Times. “It would block the…