Spend

• Women are emerging as a primary growth driver for Asia's live music industry, significantly influencing both attendance and spending across the concert ecosystem. • A study by The Collective, the advisory arm of THE·TEAM, found that 91% of women surveyed in China, Thailand, Japan, Singapore, and Hong Kong are willing to increase their spending on live music. • This spending growth is contingent on brands providing experiences that are more seamless, immersive, and rewarding for female attendees.

• Global tech stocks experienced a significant sell-off on Tuesday, resulting in the Nasdaq index closing 2.2 percent lower. • Investors are reacting to the massive projected capital expenditures required for AI development and the looming prospect of higher interest rates. • This downturn reflects growing market anxiety over whether the high costs of AI infrastructure will yield immediate financial returns.

Airports CEO says letting non-EU passengers skip entry-exit system was only way to avoid peak season travel chaosRome’s airports will have to suspend the EU’s new digital border system for non-EU citizens to avoid a “disaster” during the peak tourism summer months, according to the head of the airports company.Marco Troncone said that allowing passengers to skip the biometric entry-exit system (EES) was the only way of avoiding travel chaos over the summer amid warnings from other European airport officials. Continue reading...

New party dubbed Community Strong Australia follows secret talks about future of community independentsTeal independents Zali Steggall and Allegra Spender have launched a new political party called Community Strong Australia, with the aim of providing a centrist alternative for voters amid the rise of One Nation and the turmoil inside the Coalition.The party will focus on issues including housing affordability, cost of living, climate change, childcare, education, healthcare and social cohesion, according to Steggall, the member for Warringah. Continue reading...

Downing Street figures plan to convince Burnham to revive ‘war bonds’ when he becomes prime ministerDowning Street aides are planning to lobby Andy Burnham during access talks to revive the idea of “war bonds” to pay for higher defence spending when he becomes prime minister, the Guardian understands.Senior No 10 figures want the Treasury to be allowed to borrow more for military spending and will try to convince Burnham to invest beyond the £13.5bn earmarked for the long-awaited Defence Investment Plan (Dip). Continue reading...

• Google's Sean Downey and YouTuber Adam W discussed the surge in creator ad spending during Business Insider's CMO Insider breakfast. • The experts advised marketers to stop attempting to control every word of a campaign, suggesting that relinquishing creative control to creators leads to better results. • This shift matters as brands move away from traditional corporate scripting to leverage the authentic voice and influence of social media personalities.

• Tech stocks triggered a broad market decline as investors grew concerned over the massive capital expenditures of AI companies and rising interest rate expectations. • Alphabet reported a 47% drop in Q1 free cash flow, contributing to a trend where combined hyperscaler AI spending has now surpassed $452 billion. • The sell-off highlights a growing tension between the heavy costs of building AI infrastructure and the uncertain timing of when these investments will generate significant profits.

• Major tech stocks experienced a sudden wave of selling as investors began questioning the long-term sustainability of the artificial intelligence boom. • This downturn follows a massive rally where the wider tech sector saw stock prices more than double from their cyclical lows in 2022. • The sell-off suggests a growing concern that capital was deployed too aggressively into the hardware infrastructure supporting the AI shift.

Bar Standards Board bars Karim Khan from practising in England and Wales, following suspension by ICCKarim Khan, the international criminal court prosecutor, has been suspended from practising as a barrister in England and Wales by the UK’s Bar Standards Board.The move comes less than two weeks after Khan was suspended as ICC chief prosecutor as part of a disciplinary process triggered by sexual abuse allegations against him. Khan has repeatedly denied the claims. Continue reading...

• Simon Taylor reports that the top 1% of U.S. firms are spending $7,449 per employee per month on AI technologies. • This expenditure is approximately 650 times higher than the median spending of $11.38 per employee. • The data highlights a massive investment gap in AI adoption between industry leaders and the broader business landscape.

MP for Tewkesbury understood to have been arrested by Gloucestershire police on Wednesday nightA Liberal Democrat MP has had the whip suspended pending the outcome of a police investigation, a party spokesperson said.Cameron Thomas was arrested by Gloucestershire police on Wednesday night, it is understood. His office has been contacted for comment. Continue reading...

• Ad spend for mobile "short drama" apps in India has experienced an explosive growth of 423%, according to new data from AppsFlyer. • This surge positions the Indian Subcontinent as the primary engine for paid app growth, contrasting with budget cuts seen in North America and Southeast Asia. • The trend highlights a significant shift in global entertainment consumption, as marketers pivot their strategies toward short-form video content in emerging markets.

• Mobile advertising spend across the Indian subcontinent has surged by 423%, primarily driven by a boom in short-form drama content. • Education apps in the region also saw significant growth, with Android user acquisition (UA) ad spend increasing by 184% and paid installs rising 66% year-over-year. • This trend highlights India's growing dominance in the digital entertainment and educational technology sectors.

• President Ferdinand Marcos Jr. announced that the Philippines is open to establishing a Status of Visiting Forces Agreement (SOVFA) with Germany. • This potential agreement would provide a legal framework for German military personnel operating within Philippine territory. • The move signals Manila's intent to diversify its security partnerships and strengthen defense ties with European allies.

In today’s newsletter: An argument about money has also spotlighted questions about Britain’s place in the world and the changing face of warfareGood morning. What conflict has raged longer than the hundred years war? The fight between the Ministry of Defence and the Treasury over defence spending.I’d love to claim this as my own, but avoid patter theft this early in the day. So I’ll credit my colleague Dan Sabbagh, the Guardian’s defence and security editor, who spoke to me ahead of this week’s G7 meeting, in France, where Keir Starmer arrived yesterday for what could be his final international summit. The prime minister can anticipate candid discussions about international partnerships in conflicts in Ukraine and the Middle East, both of which may soon demand increased involvement from the British military.Middle East | Donald Trump has declared that the strait of Hormuz will be “completely open” from Friday, as western leaders gathering at the G7 summit in Évian-les-Bains battled to prevent the fragile US deal with Iran from almost immediately unravelling.UK politics | Political hatred and division in the UK is probably worse now than during the Brexit referendum, when Jo Cox was murdered, says Kim Leadbeater, Cox’s sister who is now also a Labour MP.Crime | A schoolteacher described as a “serial manipulator and a serial liar” has been found guilty of sexually abusing and murdering a baby he and his partner had adopted.Environment | Half of the world’s children are exposed to at least three overlapping climate hazards threatening their health, education and survival, according to a Unicef report.US news | Eight people are presumed dead after a B-52 bomber crashed shortly after takeoff on Monday morning at a US air force base in California’s Mojave Desert, officials said. Continue reading...

• Hong Kong businesses have surpassed the global average in AI spending, focusing primarily on creating safe testing environments for the technology. • In contrast, mainland Chinese firms are aggressively integrating AI directly into their workforces to reshape daily operational workflows. • The findings come from the latest research conducted by DLA Piper, highlighting a strategic divergence in how different regions approach AI deployment.

Starmer ‘can’t sack him or let him resign’, says ally of Dan Jarvis after predecessor’s resignation The new defence secretary is to revisit a controversial plan for funding the armed forces and may return to demand more cash from the Treasury, allies have said.Multiple government sources said Dan Jarvis would look to “reprioritise” aspects of the defence investment plan (Dip), which was delayed until July after the resignation of John Healey following a disagreement over its funding. Continue reading...

• Anthropic has suspended its newly released Claude Fable 5 and Mythos 5 AI models following urgent concerns regarding cybersecurity and hacking risks. • The European Union, which gained access to Mythos in June, is currently assessing the situation after the suspension of these tools. • The incident has prompted the European Commission to emphasize the necessity of "technological sovereignty" to reduce the 27-nation bloc's reliance on American and Asian AI technologies.

Lisa Nandy says discussions are taking place about how to ‘keep this country safe’ after John Healey’s resignationUK politics live – latest updatesCabinet ministers have been asked to look for more money in their departments to fund an increase in defence spending after the resignation of the former defence secretary John Healey.The culture secretary, Lisa Nandy, told the BBC that her department was among those still in conversations with the Treasury about finding further sums for defence. Healey resigned last week over a far smaller than expected settlement for the defence investment plan (Dip). Continue reading...

• European companies are increasing their security spending to protect autonomous AI agents, treating these tools as privileged users to mitigate access risks. • The surge in demand for identity security tools is being driven by upcoming regulatory deadlines and a broader corporate understanding of cybersecurity risks. • Joe Turner, VP of Research at CONTEXT, describes this trend as a meaningful shift in how businesses approach the protection of their digital infrastructure.

• Major equity indexes rebounded on Thursday, recovering from sharp losses experienced during the previous trading session. • The recovery was driven largely by gains in tech stocks and investor indifference toward President Donald Trump's warning that the U.S. "will be hitting Iran" tonight. • This bounce back suggests that market participants are currently downplaying geopolitical tensions and specific corporate concerns, such as Oracle's data-center spending.

Minister accuses Starmer of being ‘unable to commit the resources to defend the country at this time of rising threats’• UK politics live – latest updatesThe defence secretary, John Healey, has resigned over the government’s defence spending plans.The long-awaited defence investment plan (DIP) was expected to be published imminently, but in a letter to the prime minister, Keir Starmer, Healey said it fell “well short of what is required for defence and the country at this dangerous time”. Continue reading...

Peptides join melatonin, cannabis and weight loss medications as priority concerns. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Nick Visser with the main action.A non-profit organisation that runs a helpline for young people says there is little sign of a dip in cyberbullying or image-based abuse in the six months since teenagers under 16 have been banned from social media. More coming up. Continue reading...

Khan, a prominent British lawyer, has repeatedly denied the allegations which first emerged in 2024The chief prosecutor of the international criminal court, Karim Khan, has been suspended after a disciplinary process triggered by sexual abuse allegations against him reached a conclusion.The ICC’s governing body announced the decision on Monday evening after its executive committee voted to refer the proceedings against Khan to a special session of the court’s member states for them to consider his future. Continue reading...

• IBM reports that AI spending is projected to surge from under 15% of total IT budgets in 2025 to nearly 25% by 2027. • Security and compliance concerns are the primary obstacles to scaling, with nearly 59% of respondents identifying these as top barriers. • The study highlights operational instability, noting that surveyed organizations experienced an average of 54 AI agent incidents requiring human intervention over the past year.

• Technology spending in Europe is projected to reach USD $1.3 trillion by 2026, driven largely by a surge in infrastructure investments. • Businesses are aggressively expanding data centers to support the growing demands of artificial intelligence integration. • An Omdia AI Maturity Survey reveals that 71% of organizations in Western Europe now support the concept of national AI sovereignty.