Google owner Alphabet to sell $80bn in stock to fund AI spending spree
Posted on Tuesday June 02, 2026

Markets take note as world’s biggest equity fundraiser bids to garner more money than three biggest-ever IPOs combined

• Business live – latest updates

• Kenneth Rogoff: will AI create a permanent underclass?

Google’s parent company, Alphabet, has said it plans to raise up to $80bn (£59bn) in equity to fund its vast artificial intelligence infrastructure investments, raising further questions over the economics of the AI boom.

The move, the largest equity fundraising ever according to analysts, includes a $10bn share sale to the US investment group Berkshire Hathaway, which was led until last year by Warren Buffett.

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Zero-hours contracts: ministers’ detailed plans for UK ban criticised by firms and unions
Posted on Tuesday June 02, 2026

Government says it would prefer workers to be guaranteed between eight and 20 hours a week based on regular hours

• Business live – latest updates

Ministers are facing criticism from unions and employers after laying out details of plans for a guaranteed regular working week as part of a ban on zero-hours contracts.

Under rules poised to come into force next year, employers will have to offer staff, including agency workers, a contract that guarantees a minimum number of hours each week based on their regular working hours.

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BP backs Amanda Blanc to lead search for new chair despite investor concerns
Posted on Tuesday June 02, 2026

Senior independent director to handle process again after Albert Manifold’s shock departure last week

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BP has backed Amanda Blanc to lead its search for a new chair for a second time, shrugging off investor concerns over her role at the company after the shock departure of its chair last week.

Some shareholders have voiced concerns over Blanc, the senior independent director at the British oil company, running the process again after Albert Manifold’s short stint as chair.

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Orbán’s oligarchs on edge as Hungary poised to launch wealth tax
Posted on Tuesday June 02, 2026

New PM Péter Magyar calls policy a sign of ‘social justice’ after years of political loyalty being rewarded with economic opportunity

In a dimly lit television studio, one of Hungary’s richest men is on the verge of tears. It is early May, weeks after the general election that ended Viktor Orbán’s 16-year grip on power, and the advertising mogul Gyula Balásy has an announcement to make.

Balásy tells the interviewer that he has just surrendered his businesses to the state, along with a chunk of his private savings. He has even brought along a notarised deed – a legal document setting out the change of ownership.

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Hackers trick Meta AI support bot to infiltrate Obama White House Instagram account
Posted on Monday June 01, 2026

Breach of high-profile accounts raises concerns about reliance on AI for security measures such as passwords

Hackers used Meta’s AI-powered support chatbot to infiltrate high-profile Instagram accounts, the company has confirmed, saying it resolved the problem after researchers exposed it.

The targets ranged from Barack Obama’s White House account to the beauty retailer Sephora and the US Space Force chief master sergeant, John Bentivegna, according to reporting from 404 Media. Everyday users complained of similar hijackings on Reddit and X over the weekend.

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Google owner Alphabet to sell $80bn in stock to fund AI spending spree
Posted on Tuesday June 02, 2026

Markets take note as world’s biggest equity fundraiser bids to garner more money than three biggest-ever IPOs combined

• Business live – latest updates

• Kenneth Rogoff: will AI create a permanent underclass?

Google’s parent company, Alphabet, has said it plans to raise up to $80bn (£59bn) in equity to fund its vast artificial intelligence infrastructure investments, raising further questions over the economics of the AI boom.

The move, the largest equity fundraising ever according to analysts, includes a $10bn share sale to the US investment group Berkshire Hathaway, which was led until last year by Warren Buffett.

Read more...

Fulham confirm Marco Silva is leaving as head coach amid Benfica interest
Posted on Tuesday June 02, 2026

• Silva had been in charge at Fulham for five years

• Benfica poised to lose José Mourinho for Madrid job

Fulham have announced that Marco Silva is leaving after five years as their head coach. The Portuguese is wanted by Benfica, who are poised to lose José Mourinho to Real Madrid.

“Fulham and Marco were an excellent fit for five seasons, but change is inevitable in this game, and we’ve accordingly prepared for this moment,” Fulham’s owner, Shahid Khan, said.

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Zverev swats aside teenager Jódar as elusive grand slam title inches closer
Posted on Tuesday June 02, 2026

• World No 2 wins quarter-final 7-6 (3), 6-1, 6-3

• Zverev will face Mensik or Fonseca in semi-final

Alexander Zverev took another step towards winning his elusive grand slam title as he held off a rapid start from the breakout teenage star Rafael Jódar to return to the semi-finals of the French Open with a 7-6 (3), 6-1, 6-3.

The past few weeks have had little precedent in the recent history of men’s tennis, with so many of the top players suffering early upsets in Paris. As the dust has begun to settle on the early losses to Jannik Sinner and Novak Djokovic, the second seed Zverev has emerged as the player most likely to win the title.

This report will update later

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