Latest Developments

Europe
BBC Business

AI giant Anthropic plans to sell shares in US as valuation nears $1tn

Artificial intelligence (AI) firm Anthropic has revealed its plans to go public in the US, a move which would allow people to buy and sell its shares on the stock market. The company behind chatbot Claude said on Monday it had filed paperwork with the US authorities in order to make an initial public offering (IPO) this year. Anthropic said the price and number of shares to be offered "have not yet been set". The firm's stock market plans, coming alongside those of Elon Musk's SpaceX, is set to show whether investor appetite matches the soaring valuations of AI companies. Anthropic, founded just five years ago, recently raised money from private investors that valued the company at more than $965bn (£717bn), ahead of OpenAI's most recent valuation of $852bn. Anthropic chief executive Dario Amodei created the firm after leaving OpenAI, where he had worked for several years, over disagreements with its chief executive Sam Altman. The two firms have since become fierce rivals in the AI world, developing similar technology and fighting for the attention and spending of users and corporate customers. Altman told CNBC on Monday that, while his company did intend to go public, it was in no rush to do so. Should OpenAI's listing happen, the US capital markets are poised to see an historic level of investment in just a handful of companies. SpaceX alone is expected to break stock market records with its target valuation, but the potential value of Anthropic and OpenAI are not far behind. Meanwhile, Google's owner Alphabet has revealed plans to raise $80bn to spend on AI. Matt Britzman, senior equity analyst at Hargreaves Lansdown, said the announcement was "a clear sign that the AI arms race is moving into a more capital-hungry phase".

AI giant Anthropic plans to sell shares in US as valuation nears $1tn
Europe
BBC Business

King told me Post Office scandal was 'dreadful', says oldest victim

The oldest surviving victim of the Post Office scandal has said the King told her it was a "dreadful thing" and "should never have happened". The 93-year-old said she asked His Majesty to talk to the prime minister about ensuring those responsible for hundreds of sub-postmasters being wrongfully prosecuted would be investigated by the police and brought to justice. She described meeting the monarch and receiving the honour as "lovely", adding she "never ever dreamt that this would happen". "The reason that I'm here is very sad and I don't forget that. All the heart ache of the families that this has destroyed, the heart ache of children left with nothing, that still hurts, it'll always hurt," she added. Mrs Brown was one of hundreds of sub-postmasters wrongly accused of stealing or false accounting between 1999 and 2015 after a faulty IT system called Horizon made it look like money was missing from branch accounts. The scandal has been described as one of the widest miscarriages of justice in the British legal history. The pensioner was forced out of her County Durham Post Office in 2003 - despite her late husband Oswall having paid more than £50,000 of their savings to cover non-existent shortfalls. They had run the branch together since 1985. Mrs Brown was appointed Officer of the Order of the British Empire (OBE) for her services to justice after campaigning for sub-postmasters affected by the scandal. "I said to him...would you tell your prime minister and your ministers that justice has no cost...There is no cost to justice. Doesn't matter what it costs, justice must be done," she added. Last week, police chiefs warned the criminal investigation into the Post Office scandal could be delayed by five years unless they received millions of pounds in extra funding. The commander leading the national police inquiry, Stephen Clayman, said the size of the investigation team would need to double to meet its current timeline of submitting files for potential prosecutions by late next year or early 2028. A government spokesperson said the scandal was "an appalling injustice" and that it was "considering requests for further funding".

King told me Post Office scandal was 'dreadful', says oldest victim
Asia-Pacific
Nikkei Asia

Indonesia's GoTo cofounder calls Chromebook graft charges 'illusion' of law

Nadiem Makarim, who presented his defense statement on June 2, said prosecutors "forced" connections between Chromebook procurement and Google's investment in Gojek, the company he founded before serving as Indonesia's education minister. (Photo by Mira Maruto) JAKARTA -- Nadiem Makarim, former education minister and the founder of Indonesian ride-hailing company Gojek, on Tuesday suggested his graft prosecution was a personal vendetta and accused prosecutors of "poor" understanding of technology and business, resulting in their demand that he be jailed for 27 years.

Indonesia's GoTo cofounder calls Chromebook graft charges 'illusion' of law
China / Asia
South China Morning Post

Bangladesh faces further measles risk due to lack of vaccinations, travel

Biman MukherjiPublished: 10:10pm, 2 Jun 2026The measles outbreak in Bangladesh is one of its deadliest health crises in decades, as experts warned that the lack of measures to increase vaccinations and enhance immunisation across the country could lead to a further spike in cases.There were over 60,000 suspected cases of measles, and nearly 600 people have died from the disease since mid-March, according to media reports. The outbreak has been particularly severe among malnourished children and communities with limited access to health services. Local health officials have partnered with their UN counterparts to launch an emergency response to combat measles. However, gaps in vaccination coverage, with an interim administration in power until February, have raised concerns that the disease could spread further. Health experts say the surge is due to local authorities not prioritising the elimination of measles, with the highly contagious disease largely preventable through two vaccine doses as recommended by the World Health Organization. According to a report on the measles situation in Bangladesh by the WHO in April, the disease can affect individuals of all ages and is a leading cause of death among young children around the world. A usually “mild or moderately severe disease”, measles could, however, cause complications such as pneumonia, diarrhoea, blindness, and death, the WHO said.

Bangladesh faces further measles risk due to lack of vaccinations, travel
China / Asia
South China Morning Post

Can China’s caesium-from-brine tech cut reliance on Canadian, Australian ores?

Zhang Tongin BeijingPublished: 10:00pm, 2 Jun 2026Updated: 10:08pm, 2 Jun 2026Chinese researchers have developed an environmentally friendly method to extract caesium from brine, a process they say could boost China’s supply of the strategic resource. Caesium, a rare metal, is a critical strategic resource used in satellite atomic clocks, missile thermal imaging sensors and advanced speciality glass. China and the United States are the top consumers of caesium, yet both rely heavily on imports. It is primarily found in the Earth’s crustal ores as well as salt lake brines and seawater. Known commercial deposits include the Tanco mine in Canada, the Bikita mine in Zimbabwe, the Karibib project in Namibia and the Sinclair deposit in Australia. China’s state-owned Sinomine Resources controls the Tanco and Bikita operations but domestic caesium reserves – while considerable – are mostly locked in brine that is difficult to process. Only a fraction exist as caesium ores, and most are low-grade associated minerals. The caesium present in salt lake brine poses two major challenges: its concentration is relatively low, and the brine contains high levels of sodium, potassium, magnesium, calcium and rubidium ions, which interfere with caesium separation. A team led by Zhou Yongquan of the Qinghai Institute of Salt Lakes, Chinese Academy of Sciences, has proposed a stable and efficient method to extract caesium from salt lakes, a breakthrough that could help diversify China’s industrial supply chain. The team’s findings have been published in the peer-reviewed Chemical Engineering Journal. The team developed a sieve-like mechanism to trap caesium, creating a material that selectively acts like a magnet for caesium ions. When brine is passed through a column packed with this material, caesium ions are “sieved” out. Moreover, the material can be repeatedly reused.

Can China’s caesium-from-brine tech cut reliance on Canadian, Australian ores?
China / Asia
South China Morning Post

Summer campaign to mark 50th anniversary of international dragon boat races

Kristen CheungPublished: 9:41pm, 2 Jun 2026The Hong Kong Tourism Board will launch a 13-day summer campaign featuring citywide discounts and events to mark the 50th anniversary of the international dragon boat races at the Tsim Sha Tsui waterfront, in a bid to attract more overnight visitors. To welcome the summer travel season, the board announced on Tuesday that its “Hong Kong Summer Fun” campaign would open with the Sun Life Hong Kong International Dragon Boat Races, running from June 19 to July 1. The board’s chairman, Peter Lam Kin-ngok, said the promotion would leverage mega-events to boost peak summer tourism. “We aim to attract more overnight visitors to Hong Kong and boost consumption across more sectors,” he said. The programme will feature cultural workshops, traditional performances and a food lane at Salisbury Garden and along the Avenue of Stars. Visitors can also experience interactive attractions, including themed photo spots, virtual-reality dragon boat paddling and a dedicated race broadcast zone.

Summer campaign to mark 50th anniversary of international dragon boat races
North America
CNBC

Audemars Piguet's watch prices remain stable after controversial Swatch collab

When the famed luxury watch brand Audemars Piguet announced a collaboration with Swatch last month, some Audemars collectors feared the worst. Rapper DDG said he would sell his $180,000 Audemars Piguet if the collaboration grew too big and cheapened the brand. Members of the self-appointed horology community warned that one of the "Holy Trinity" of watch brands, famed for innovative complications, or features, and designs, had gone plastic. Yet a few weeks after the launch of the AP-Swatch Royal Pop collection, AP prices have held steady on the secondary market. Despite predictions of a collapse in Audemars Piguet's brand value and exclusivity, experts say AP is still AP. "There has been no discernible impact on AP prices from the launch," said Hamza Masood, head of partnerships at WatchCharts, which tracks secondary values for all major AP models. It's early, of course, but Masood said Royal Pop, the collection of brightly colored watches on lanyards, is part of AP's longer-term strategy of attracting the next generation of collectors. AP's signature Royal Oak watches typically retail for more than $50,000 and have a multiyear waiting list. Royal Pop makes the brand accessible to younger buyers and more women. "Fundamentally, everybody recognizes that this does not really eat into AP equity in any real, meaningful way," Masood said. "The product is not diluting the Royal Oak collector experience, because it's not even designed to be a wristwatch." After a speculative bubble in luxury watches during the pandemic, the luxury watch market plunged in 2022 and is only now starting to stabilize. WatchCharts' AP Index — comprising the top 30 models from the brand — is down about 40% from its peak in 2022. Rolex and Patek Philippe, the other two of the "Big Three" luxury watchmakers, are also down from their peaks. In the first quarter, AP's secondary prices were up 2%, compared with an increase of 1.7% for Rolex and 3% for Patek, according to WatchCharts. AP's inventory is aging more than that of its peers, suggesting a larger mismatch between demand and supply. "AP has [so far] not seen the same level of market recovery as the other two members of the Big Three," Masood said. Still, he said the Royal Pop gave AP something even money can rarely buy: cultural buzz on social media and digital news. The burst of attention will spark interest among teens and 20-somethings, who one day will be able to afford a Royal Oak.

Audemars Piguet's watch prices remain stable after controversial Swatch collab
Europe
BBC Business

Post Office scandal victim dedicates OBE to 'sub-postmasters we have lost'

Betty Brown, the oldest surviving victim of the Post Office Horizon IT scandal, will receive an OBE at Windsor Castle today. Brown was one of hundreds of sub-postmasters wrongly accused of stealing, and was forced out of her County Durham branch in 2003 - despite her and her late husband spending more than £50,000 of their savings to make good on losses which didn't exist. The award "won't be a Betty Brown medal," the former sub-postmaster said, but will be for "all the sub postmasters that we have lost". The Horizon IT system was responsible for more than 900 sub-postmasters being wrongfully prosecuted because of it providing incorrect information. Thousands were forced to make up for the alleged losses at their branches across the UK. More than a billion pounds has been paid out in compensation to victims of the scandal, according to the government. Some shoppers have been trying to resell a new line of watches priced at £335 each for up to £16,000. BBC UK editor Ed Thomas confronts a shopkeeper secretly filmed selling cannabis and cocaine to one of our researchers. The BBC's Emma Simpson explains why fizzy drinks, salad and meat could be affected by the Gulf conflict. From fuel to mortgages, the BBC looks at how oil and gas prices could push up the cost of living. Emma Soames rejected Nigel Farage's statement that the currency change was "wokery". The Bank governor criticised emails between Peter Mandelson and Jeffrey Epstein during the financial crisis. In the lead up to the Chancellor delivering her Budget, the Office for Budget Responsibility published their report early in error.

Post Office scandal victim dedicates OBE to 'sub-postmasters we have lost'
Europe
BBC Business

Steph Curry signs with Chinese brand after Under Armour split

Golden State Warriors superstar Stephen Curry says he has signed an endorsement deal with Chinese sportswear giant Li-Ning. The 38-year-old has been free to sign with a retail partner for his line of shoes and sports wear since ending a 12-year deal with US activewear firm Under Armour last year. Curry and Li-Ning will collaborate on new products and on plans to launch his signature chain of shops in the US and China. The value of the deal was not immediately disclosed. Signing Curry marks a major step in Li-Ning's push to become an international brand, alongside other Chinese sportswear labels like Anta. The partnership is a "landmark victory" for Li-Ning, showing that Chinese sportswear brands can compete with global giants like Nike and Adidas to sign top players, said Linda Yu from marketing agency Red Ant Asia. Endorsement deals are the "lifeline of sportswear brands" and a name like Steph Curry can help Li-Ning to establish itself in markets like the US, Yu said. In a video posted on his business website Thirty Ink, Curry said the partnership will help Li-Ning expand in the US. It has more than 7,000 shops across Asia. Li-Ning told the BBC it will work with Curry to promote sports culture as well as develop products across a range of categories, starting with golf and basketball. The deal is Curry's first collaboration with a Chinese brand. He partnered with Nike at the start of his career before moving to Under Armour. He joins a growing list of NBA stars that have signed with Chinese brands, including Dwayne Wade and Jimmy Butler with Li-Ning and Klay Thompson and Kyrie Irving, who are partnered with Anta. Anta, which used to make shoes for international brands, has led a global push by buying the rights to Western firms like Fila. This year, it also bought a key stake in Puma, pledging to help the firm grow in China. Many Western brands have been keen to gain a foothold in China, but face intense competition from local manufacturers offering cheaper goods. Demand in China has also slowed due to low domestic spending.

Steph Curry signs with Chinese brand after Under Armour split