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Stay informed with free updatesSimply sign up to the Hedge funds myFT Digest — delivered directly to your inbox.Billionaire Michael Platt’s BlueCrest Capital has warned the UK is “no longer a serious contender” as a place to do business after losing a £200mn legal battle with tax authorities. The Supreme Court on Wednesday unanimously dismissed an appeal by the investment firm, which had been battling HMRC’s attempts to tax its partners as employees since 2022.The appeal centred on the interpretation of legislation on the taxation of salaried members and its application to some members of BlueCrest Capital Management, which was…

A new United Nations report warns that the development of artificial intelligence may exacerbate global inequality and proposes a shared framework for how to responsibly develop AI, as adoption and investment into the technology accelerates unevenly across the world.“Access to AI tools alone does not produce equal benefit,” the report states. “Countries that rely on foreign models, cloud infrastructure and data pipelines may gain access to AI while losing practical control over its standards, safeguards and local fit.”The sweeping analysis from the independent international scientific panel on AI, established by the UN general assembly last year as “the first global…

By Nwafor Sunday Polycarp, Online News Editor ABUJA — The African Democratic Congress (ADC) and the Nigeria Democratic Congress (NDC) have confirmed the submission of their presidential tickets to the Independent National Electoral Commission (INEC) nomination portal ahead of the 2027 general election. ADC National Publicity Secretary, Bolaji Abdullahi, announced on Wednesday that the party had successfully uploaded the names and particulars of its presidential candidate, Atiku Abubakar, and vice-presidential candidate, Rotimi Amaechi. In a post on his X handle, Abdullahi described the submission as another milestone in the party’s preparations for the 2027 elections. “We are pleased to announce…

The Nyesom Wike faction of the Peoples Democratic Party (PDP) in Kwara State has unveiled former Secretary of the Christian Association of Nigeria (CAN), Cornelius Fawenu, as the running mate of its governorship candidate, Kawu Agaka, for the 2027 election. This is contained in a statement issued in Ilorin on Wednesday by the party’s publicity secretary, Olusegun Adewara. According to the statement, Mr Agaka communicated his decision to nominate Mr Fawenu as his preferred running mate in a letter to the party’s state chairman after concluding consultations with party stakeholders. The PDP said the choice of the cleric reflected its…

At least two people died on Wednesday during massive celebrations in Mexico City as the national team advanced to the next round at the World Cup, according to the local government. A 19-year-old woman and a 44-year-old man died of asphyxiation, according to the city’s health ministry. Authorities have not confirmed the death of a third person, reported by local media. The celebrations came after Mexico beat Ecuador to record their first World Cup knockout win since 1986, sending the co-hosts into the round of 16. More than a million people gathered in the streets of Mexico City, mainly around…

David Chase, the seven-time Emmy winner and showrunner of HBO series The Sopranos, is set to be a key speaker at the upcoming edition of the Karlovy Vary’s Industry Days program, the industry strand of the Karlovy Vary International Film Festival.  Further speakers this year include Bad Sisters writer-actress-producer Sharon Horgan, Succession director and cinematographer Andrij Parekh, Riff Raff Entertainment’s Ben Jackson and Katie Sinclair, Nomadland producer Mollye Asher, The Hurt Locker producer Greg Shapiro and Debbie McWilliams, the legendary casting director who has spent decades casting James Bond films.  Chase will participate in an on-stage conversation at Karlovy Vary on July 8 where he will reflect on…

Sunday Aborisade in Abuja The Zenith Labour Party (ZLP) yesterday unveiled former All Progressives Congress (APC) chieftain and academic, Professor Festus Uwakhemen Asikhia, as its candidate for the Federal Capital Territory (FCT) Senatorial seat for the 2027 general election. The candidate pledged to pursue legislative reforms aimed at improving gover-nance, eliminating multiple taxation, and strengthening democratic institutions in the nation’s capital. At the unveiling ceremony in Abuja, the party’s National Chairman, Dan Nwanyanwu, expressed confidence in Asikhia’s candidacy, describing him as a politician with integrity and the capacity to effectively represent FCT residents in the National Assembly. Nwanyanwu said the ZLP…

The Nigeria Alumni Chapter of the China Europe International Business School (CEIBS) has urged Nigerian business leaders to embrace executive education that combines global business perspectives with local realities, arguing that such exposure is increasingly important as China’s economic footprint across Africa continues to expand. The call was made on Saturday during the induction of the CEIBS Nigeria Alumni Chapter and the launch of its website in Lagos, where business executives, entrepreneurs, alumni, and graduates of the school’s programmes gathered to discuss leadership and business development. Speaking at the event, Executive Director of CEIBS Africa, Professor Gordon Adomdza, said executive…

Gold prices fell further on Wednesday, after the precious metal closed its worst quarter in 13 years in three months to the end of June. Gold futures began the second half of 2026 on the backfoot, sliding 1.24% in early trade to $3,989.00. Spot prices were also lower, falling 0.82% at $3,974.51.Having spiked at an all-time high of $5,586.20 on Jan. 29, bullion has since plunged as investors turn negative on the non-yielding asset’s prospects in a potentially higher rate environment.About 16% was wiped off gold in the three-month period ended June 30 — its worst quarter since the second…

As one of France’s hottest days on record unfolded on 23 June, exasperated people painted white chalk on their windows to screen out the sun. Paris’s Eiffel Tower closed early.And in the town of Ergué-Gabéric, in Brittany, the punishing temperatures – around 40C – were too much for one electric transformer.The chunky metal box malfunctioned, initially leaving more than 100,000 people without power.It was a “heat related” incident, according to local authorities, external. Videos posted to social media appeared to show a plume of smoke rising from the stricken transformer. A spokeswoman for power company RTE confirmed to the BBC…