Author: Jaxon Bennett

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Uber has appointed its first chief operating officer since 2019, as chief executive Dara Khosrowshahi shakes up senior leadership and loosens his grip on the ride-hailing company. Andrew Macdonald, Uber’s head of mobility, has been appointed president and chief operating officer with immediate effect, according to public filings. He will be the company’s second-in-command, responsible for overseeing the mobility and food delivery sides of the business. Macdonald, who joined Uber in 2012 and is known by colleagues as Mac, will report directly…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump has put a $175bn price tag on the development of a “Golden Dome” missile defence shield, promising the project would be “operational” by the end of his term.The so-called Golden Dome — whose name is a nod to the renowned “Iron Dome” shielding Israel — will be completed in two-and-a-half to three years, the US president said in an announcement from the Oval Office. The tax and budget bill before Congress includes $25bn to “help construction get under…

Stay informed with free updatesSimply sign up to the Cyber Security myFT Digest — delivered directly to your inbox.WhatsApp won a $168mn jury verdict in a case against NSO Group, the Israeli maker of Pegasus spyware, for exploiting a weakness in the encrypted messaging platform and selling it to clients who used it to surveil journalists, activists and political dissidents. The case in a California federal court is the first time that a manufacturer of spyware has been held responsible for violating the technical sanctity of the platforms that operate on modern smartphones. It threatens an emerging industry based on…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Data intelligence group Palantir shook off concerns that US defence spending cuts could harm its sales of military software to the federal government, boosting its 2025 outlook after reporting forecast-beating results.The Denver, Colorado-based company lifted its revenue growth guidance for the year to 36 per cent, surpassing Wall Street’s expectation for a 31 per cent increase, and boosted its outlook for several other financial metrics.This followed a first quarter in which the group reported a 39 per cent year-on-year jump in revenues…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The United Arab Emirates aims to use AI to help write new legislation and review and amend existing laws, in the Gulf state’s most radical attempt to harness a technology into which it has poured billions.The plan for what state media called “AI-driven regulation” goes further than anything seen elsewhere, AI researchers said, while noting that details were scant. Other governments are trying to use AI to become more efficient, from summarising bills to improving public service delivery, but not to actively…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.US product design software company Figma has filed for an initial public offering that will test investor appetite for tech listings as Donald Trump’s tariffs roil global financial markets.Figma on Tuesday said it had confidentially submitted a draft registration statement with the US Securities and Exchange Commission, paving the way for an IPO. Market volatility unleashed by the president’s fast-changing tariffs policies has chilled the market for new US listings that many bankers had expected to explode back to life under a Republican…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.By most metrics of a start-up ecosystem, Silicon Valley comes out on top. It produces more “unicorns”, sucks in more investment, wins higher valuations and attracts the best talent, and has done so broadly uninterrupted since the 1980s.So it is surprising that research from King’s Business School in London argues that south-east Asia’s tech scene could achieve greater success by following innovation strategies from Japan or South Korea.Despite its dominance, Silicon Valley’s zero-sum approach — where disruptive start-ups challenge and replace incumbents…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldPresident Donald Trump has suggested he could cut tariffs on Chinese goods if Beijing allows ByteDance, the Chinese owner of TikTok, to divest the hugely popular video sharing app to avoid a ban in the US.“We have a situation with TikTok where China will probably say we’ll approve a deal, but will you do something on the tariffs,” Trump said aboard Air Force One. “The tariffs give us great power to negotiate.”The comments came one day after Trump imposed “reciprocal”…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Intel’s new chief executive has promised a major “culture change” at the US semiconductor group, saying he will prioritise attracting talent, building relationships with customers and slashing bureaucracy. Speaking at a company conference in Las Vegas on Monday, Lip-Bu Tan also said Donald Trump’s administration is prepared to help Intel as the federal government seeks to maintain US semiconductor leadership.Tan, a longtime investor in the sector and former CEO of chip software company Cadence, was appointed to lead Intel earlier in March.…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Google parent Alphabet is in talks to buy cyber security start-up Wiz for about $30bn, setting the stage for the biggest acquisition in the search giant’s history, according to people familiar with the matter. Alphabet held talks over a $23bn acquisition of Wiz last year, although the negotiations collapsed after some of the cyber security company’s directors and investors became worried about antitrust hurdles. Alphabet had now returned with a bid of more than $30bn, a person said. The new round of…