How China cornered the market for clean tech
The country is the biggest supplier of materials vital for the energy transition. That could give it geopolitical leverage
Renewable energy, Electric vehicles
Disney’s ESPN moves into US sports betting with $2bn Penn Entertainment deal
Cable network agrees tie-up with casino and online gambling group that displaces Dave Portnoy’s Barstool Sportsbook
Travel & leisure industry, Mergers & Acquisitions
Rivian raises EV production guidance as supply problems subside
Company reports narrowing loss as volumes forecast to hit 52,000 this year
Electric vehicles
FirstFT: Google and Universal Music discuss deal over AI ‘deepfake’ songs
Also in today’s newsletter, China’s trade falls more than expected and TSMC to build €10bn plant in Germany
Artificial intelligence
Google and Universal Music negotiate deal over AI ‘deepfakes’
New technology that can mimic artists’ voices has been seen as growing threat
Artificial intelligence
UK accounting watchdog looks to tighten audit independence rules
Move to close potential loophole on how much income can be generated from a client
Financial & markets regulation
UK watchdog probes ‘de-banking’ and links to customers’ politics
FCA seeks to establish if practice is widespread in wake of Farage dispute
Financial & markets regulation
Wall Street groups fined $555mn by regulators over messaging violations
Wells Fargo and BNP Paribas among those penalised by SEC and CFTC for record-keeping ‘failures’
Financial & markets regulation
Goldman Sachs’ John Rogers steps down as chief of staff
Influential bank executive dubbed the ‘board whisperer’ by some insiders to hand over role to ex-colleague Russell Horowitz
Investment Banking
Cornish Lithium secures investment from UK Infrastructure Bank
Move boosts Britain’s hopes of creating domestic mining industry for metal vital in electric car transition
Batteries