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Updates
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Fees at the five largest investment banks — Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America and Citigroup — were up 40% from a year earlier in what bankers said were the 'early innings' of sustained recovery. https://on.ft.com/3W647N8
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PwC China told partners to 'stay calm' in a recent email seen by the FT, as more than 20 mainland-listed companies switched firms. https://on.ft.com/3LtHtJO
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Breaking news: UK inflation held steady at 2% in June, slightly above expectations https://on.ft.com/3ScegXg
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The former president said if elected he would let Powell serve out his term if the central bank chief was 'doing the right thing'. https://on.ft.com/4bIlARn
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Breaking news: HSBC has named its current chief financial officer Georges Elhedery as its next CEO, replacing Noel Quinn from September 2 https://on.ft.com/4d3B6Z9
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Microsoft is hiring key talent from start-up Inflection AI – and it has led the UK competition watchdog to launch an inquiry as concerns rise about dealmaking in the AI industry. However, Microsoft maintains that the Inflection deal ‘should not be treated as a merger’.
Microsoft’s hiring of Inflection AI staff probed by UK regulator
ft.com
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The billionaire has said the companies will move as a response to new gender identity laws in California, dealing a blow to Silicon Valley amid Musk's long-running dispute with governor Gavin Newsom. https://on.ft.com/4d0cDUH
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Microsoft is hiring key talent from start-up Inflection AI – and it has led the UK competition watchdog to launch an inquiry as concerns rise about dealmaking in the AI industry. However, Microsoft maintains that the Inflection deal ‘should not be treated as a merger’. https://on.ft.com/3W7VJwx
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Arkady Volozh is one of only two prominent Russian businessmen to condemn Moscow’s invasion of Ukraine. Now he’s trying to salvage his tech group Yandex’s former international operations by launching an AI venture in Europe mostly staffed with the company’s former employees.
Yandex founder to build AI business in Europe after Russia exit
ft.com