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Reform UK leader Nigel Farage has proposed that all foreign prisoners are sent to serve their sentences abroad in order to scrap Labour’s early release scheme.Farage said his party was exploring options with third countries over renting prison spaces, including El Salvador, which he said Reform chairman Lee Anderson would visit soon for initial talks.Reform said removing foreign nationals from the prison estate, as well as building emergency “Nightingale” prisons, would enable changes to be made to sentencing laws so that serious criminals serve out their full terms.Labour said Reform had “no serious answers to the Tory prisons crisis and…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Revolut has been awarded a full banking licence by French authorities, accelerating Europe’s biggest fintech’s push on the continent.The London-headquartered company on Monday said the authorisation had been obtained after an assessment by the French banking regulator, the ACPR, and the European Central Bank. The permit is a key step in Revolut’s expansion plans, which are being closely monitored by European watchdogs who last year restricted its ability to launch new products. Over the past year, the fintech has pledged to invest…

Many blogs are written by industry leaders, but some academics are also jumping on the bandwagon. Helen Qu, an AI researcher from the Flatiron Institute, came to hate the unrewarding grind of conference submissions so much that she has decided to publish her research only on her new blog (she’s currently working on using game theory to prevent AI from acting subversively). One long-running blog, called the AI Alignment Forum, is written by a wide community of researchers, including many academics, who are concerned with how to make AI safe and beneficial to humanity. Instead of peer review, the AI…

OpenAI CEO Sam Altman speaks to journalists after meeting with House Minority Leader Hakeem Jeffries on Capitol Hill in Washington, June 3, 2026.Brendan Smialowski | AFP | Getty ImagesA group of House Democrats is calling for the leaders of OpenAI, Anthropic and other major AI companies to testify before Congress following a spate of hacking incidents that the lawmakers say “have serious implications for Americans’ safety and security.””Unfortunately, Congress has so far completely failed to respond to the threats posed by AI development,” the lawmakers wrote to House Speaker Mike Johnson, R-La., in a letter, a copy of which was…

Taiwan Semiconductor Manufacturing Co. (TSMC) signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, Jan. 2, 2026. Michael Nagle | Bloomberg | Getty ImagesTaiwan Semiconductor Manufacturing Co. (TSMC) on Monday reported a big sales jump for July, as demand for its AI-related chips continued to strengthen.TSMC, the world’s biggest chip manufacturer, reported revenue for July of 467.58 billion new Taiwan dollars ($14.5 billion), up 44.7% year-on-year.Investors are closely scrutinizing Big Tech spending and return on investment, as the sector continues to funnel unprecedented amounts of capital into building out AI infrastructure, including…

Hirun | Istock | Getty ImagesOver the past two weeks, OpenAI, Anthropic and Meta all revealed that their AI models went rogue during routine security testing. In explaining what happened, the companies each mentioned the same small Israeli startup: Irregular. Founded three years ago and based in Tel Aviv, Irregular is a niche player in artificial intelligence, backed with $80 million from Sequoia and Redpoint Ventures and valued last year at $450 million. Its technology serves as a sort of cybersecurity test bed for AI models. With the leading models becoming ever more powerful, their ability to act in malicious…

Subscriptions will be easier to cancel and companies will be compelled to make it clear when contracts auto-renew at a higher price, Andy Burnham has announced.The prime minister is also planning to outlaw shops from falsely claiming products previously retailed at much lower prices to advertise supposed deals, which he said tricks shoppers into thinking they are getting better value on purchases.Burnham will bring forward a package of changes announced under his predecessor Sir Keir Starmer to end so-called subscription traps and a crackdown on “pretend prices”.Shadow chancellor Mel Stride branded the measures “reheated” and said the prime minister “has…

Shares of Australia’s Sunrise Energy Metals jumped as much as 29% on Monday after the rare earth miner secured a $400 million investment in long-term debt financing from the U.S. to support the development of the world’s first primary mine for scandium. The Trump administration’s backing for Sunrise comes as major economies seek to shore up supplies of rare earths as part of a push to break China’s long-held mineral dominance. The U.S. Department of War said Friday that its Office of Strategic Capital (OSC) announced a conditional loan commitment to Sunrise to support the company’s plans to develop a…

TOPSHOT – This picture shows ships sailing near the Strait of Hormuz off the eastern coast of the United Arab Emirates at Khor Fakkan on July 13, 2026. Afp | Getty ImagesThe U.S. military redirected 20 more commercial vessels away from Iranian ports last week under its naval blockade, signaling no let-up in maritime pressure as a deal to reopen the Strait of Hormuz stayed out of reach.U.S. Central Command said American forces had redirected 55 commercial vessels as of Sunday, up from 35 as of Aug. 2. American forces have also disabled 2 ships and boarded 2 to endure…

The ExxonMobil and Chevron company logos are displayed on the floor of the New York Stock Exchange during morning trading on July 24, 2026 in New York City. Michael M. Santiago | Getty ImagesBig Oil enjoyed a blockbuster profit windfall in the second quarter. A key question now is whether the industry will use this cash bonanza to reward shareholders, strengthen balance sheets or invest for the future — all while trying to avoid a growing political backlash. The five supermajors, comprising Exxon Mobil, Chevron, BP, Shell and TotalEnergies, generated a whopping $48 billion profit in the April to June…