Target

• The European Union has proposed a new sovereignty package designed to reduce its strategic dependence on non-EU suppliers for critical technologies, including semiconductors, AI, and cloud computing. • Key measures include the creation of Experience and Acceleration Centres to coordinate AI adoption across member states and the implementation of a framework to assess cloud and AI sovereignty. • The initiative emphasizes the "Open Source Strategy," which aims to increase the availability of European-made alternatives for cybersecurity, internet technologies, and data-centre projects.

• Anthropic released a new report detailing how artificial intelligence is providing hackers with increasingly sophisticated tools to execute cyber attacks. • The analysis highlights that smartphones have become primary targets as AI enables more complex methods for malware development and mass data exfiltration. • To combat these threats, Anthropic has developed and deployed specific cyber safeguards within its most capable models to detect and block malicious activities.

• Qatar has formally condemned Iranian attacks on civilian targets in Bahrain and Kuwait, labeling the actions a "grave violation" of national sovereignty. • The State asserts that these strikes breach the 1949 Geneva Conventions and international humanitarian law, specifically the principles prohibiting indiscriminate attacks on civilians. • This diplomatic response highlights the regional instability caused by unprovoked aggression and the urgent need to protect non-combatants from the consequences of armed conflict.

IPO could raise up to $75bn, giving SpaceX market value of $1.77tn as it sets up Musk for extraordinary wealthElon Musk’s SpaceX is looking to raise $75bn (£55bn) from its blockbuster stock market listing next week as the rocket company aims for the largest initial public offering ever.If the stock market launch – primed for 12 June – goes as planned, founder Musk, the world’s wealthiest person, could make history as the first trillionaire. Continue reading...

• The European Commission has proposed the Cloud and AI Development Act and Chips Act 2.0 to reduce the EU's reliance on U.S. Big Tech firms. • These new laws aim to tighten data control within critical sectors and advance the bloc's strategic goal of technological sovereignty. • The initiative is designed to close the competitive gap between Europe and its primary technological rivals, the United States and China.

• The European Commission proposed new laws on Wednesday aimed at strengthening domestic cloud, AI, and semiconductor industries to reduce dependence on U.S. Big Tech. • This strategic "made-in-Europe" drive comes despite criticism from the U.S. government regarding the European Union's ongoing regulatory crackdowns on American technology firms. • The initiative matters as the EU seeks technological sovereignty and aims to foster a competitive internal market against giants like Microsoft, Google, Amazon, Meta, and Apple.

• The interagency Development Budget Coordination Committee (DBCC) has revised its macroeconomic growth targets to account for the economic impact of the war in the Middle East. • This follows a previous downward revision in December triggered by a slump in growth linked to a massive flood control project scandal. • The adjustment reflects the government's need to align fiscal expectations with volatile geopolitical conditions and internal governance issues.

• The European Commission has proposed the Cloud and AI Development Act, which introduces sovereignty tiers for cloud providers to reduce reliance on U.S. tech dominance. • Major U.S. firms, including Amazon, Google, and Microsoft, face potential hurdles in securing sensitive government data contracts due to conflicts with the U.S. Cloud Act. • The legislation aims to triple the EU's data center capacity and prioritize the use of EU-developed hardware and software within strategic sectors.

• The European Commission has introduced a new digital sovereignty package aimed at reducing the EU's dependence on large global technology companies. • The initiative shifts focus from mere regulation toward an industrial policy, featuring a Cloud and AI Development Act, a Chips Act 2.0, and a new open-source strategy. • These measures are designed to strengthen European technology capacity, specifically within critical infrastructure and public procurement processes.

• The European Commission has unveiled a comprehensive new package of measures aimed at enhancing the European Union's technological sovereignty. • A central component is the new Cloud and AI Development Act, which seeks to streamline the deployment of data centers across the EU. • The initiative introduces a single, EU-wide framework to assess and ensure cloud and AI sovereignty, reducing fragmentation across member states.

Advertisements for non-existent jobs aim to draw in people with access to classified or sensitive informationChinese spies are targeting UK government and military staff on job websites including LinkedIn to try to get access to classified or sensitive information, MI5 has warned.A bulletin has been released by the Five Eyes powers – the UK, US, Australia, Canada and New Zealand – highlighting an “aggressive” online recruitment strategy where spies for Beijing military intelligence pose as workers acting on behalf of private businesses or thinktanks.Security clearance holders, especially those who specialise in defence, foreign affairs and security and intelligence.Military personnel, including those stationed in the Indo-Pacific region, who have knowledge of regional capabilities and general activities.People with either indirect or peripheral access to government information, including academics, journalists, freelance writers, thinktank employees, or anyone with links to the defence, security, policy and economic sectors. Continue reading...

• ServiceNow (NOW) shares surged 9% following an endorsement from Nvidia regarding the future of AI-driven enterprise software. • The company has set an ambitious financial target to exceed $30 billion in subscription revenue by the year 2030. • This growth is driven by a combination of strong fundamental business performance and increasing optimism surrounding AI integration.

US says it struck Iranian military sites at the weekend, as Iran targets an airbase used by the US to attack southern IranGood morning, Martin Belam here. I will be popping into your inbox writing First Thing regularly for the next little while. Here are today’s main stories …Is this the end of the ceasefire, then? The US and Iran have sporadically exchanged strikes since their ceasefire took effect in early April, as negotiations aimed at a more durable agreement drag on. A similar exchange occurred last Thursday. The war launched by the US and Israel on 28 February has killed thousands of people – mainly in Iran and Lebanon – and caused global economic pain by pushing up energy prices.What was Comey accused of? Comey, who was indicted in North Carolina in April, faces up to 10 years in prison for a photo of seashells arranged to read “86 47.” Prosecutors allege the post constituted a threat against Donald Trump, the 47th US president. Comey denies the allegation. Continue reading...

Attacks reported in Kuwait – home to a US military base – and around the strait of Hormuz in latest exchange of fire as peace negotiations continueMiddle East live – latest updatesThe US said it struck Iranian military sites at the weekend and Iran’s Revolutionary Guard said on Monday it had targeted a US base in response, the latest in a series of exchanges amid negotiations to end the three-month-old war.The strikes on Iran’s Gulf coast were in response to “aggressive Iranian actions that included the shootdown of a US MQ-1 drone that was operating over international waters”, the US military’s central command (Centcom) said on X. Continue reading...

Social housing landlords to be able to evict perpetrators, while right-to-buy tenancy requirements to riseSocial housing landlords will be able to evict domestic abuse perpetrators under a new bill, which will also increase the tenancy required before residents qualify for the right-to-buy scheme from three to 10 years in England.The government said the bill, which will be debated in the House of Lords on Monday, would fix “the long-term decline in social housing” and offer new protections for social tenants who were subjected to domestic abuse. Continue reading...

Proposal requires Rene Haas to steer US-listed British company to ‘exceptional growth metrics’ The chief executive of Arm is in line for a pay package that would make him a billionaire if he hits targets to turn the British microchip giant into the UK’s first trillion-dollar company.Arm, which is listed in New York but retains its global headquarters in Cambridge, has proposed a pay scheme for Rene Haas in which he will receive generous annual share awards plus a maximum bonus of $800m if he can hit certain “exceptional growth metrics”. Continue reading...

• Defense experts are warning that future military conflicts will be decided by the speed at which targeting data is generated to deliver long-range effects. • This shift emphasizes a move toward rapid, automated targeting cycles to maintain a competitive edge in high-intensity warfare. • The trend signals a critical need for defense infrastructure to integrate AI and real-time data processing to reduce the time between detection and engagement.

• The United Nations has asserted that 100% of the Gaza Strip belongs to Palestinians, directly opposing plans by Israeli Prime Minister Benjamin Netanyahu to establish Israeli control over 70% of the territory. • This diplomatic clash occurs amid high regional tensions, with Iran and Hezbollah closely monitoring the situation for any signs of further escalation. • The UN's stance serves as an attempt to establish clear diplomatic parameters to prevent an expansion of the conflict that could involve additional regional actors.

• Major EU economies, including Germany and Italy, are currently on track to miss their legally-binding 2030 greenhouse gas emissions reduction targets. • A report by the Italian Institute for Environmental Protection and Research (ISPRA) cites critical failures in Italy's transportation decarbonization and production efficiency as primary obstacles. • In contrast, Spain is positioned to exceed its 32% emissions reduction goal, supported by a renewable energy mix that reached 75% of its electricity supply in 2025.

Anne Keast-Butler will also warn of narrowing window to stay ahead of China in ‘new era of radical uncertainty’Russia is relentlessly targeting Britain’s infrastructure and democracy while there is only a narrowing technological window to stay ahead of a fast-developing China, the head of the spy agency GCHQ will warn in a lecture on Wednesday.Anne Keast-Butler, giving an inaugural annual lecture, will say that the UK is caught in a “new era of radical uncertainty” and that “the risk of miscalculation” is as high as she has ever seen it as hacker attacks from the two states continue. Continue reading...

• Indonesia is launching a new digital data platform designed to help regional governments map export potential and expand their access to global markets. • To counter global geopolitical uncertainty, the government is aggressively pursuing trade agreements, including the ratification of Comprehensive Economic Partnership Agreements (CEPA). • These strategic partnerships specifically target expanding trade relations with Canada, Peru, and several African nations.

Research shows cost of crime for each affected business was on average £83,000 in past yearNine in 10 retailers based in rural locations have been victims of crime in the past 12 months, according to research, underlining the widespread impact of the rise in shoplifting and theft even in more remote parts of the UK.Rural retailers include farm shops as well as stores selling machinery and other equipment. The financial cost of crime for each affected retailer was on average £83,000 during the past year, according to a survey carried out by the commercial insurer NFU Mutual. Meanwhile, one in 20 victims said crime had cost them more than half a million pounds. Continue reading...

• Arsenal are reportedly targeting a move for Bournemouth's Eli Junior Kroupi following the player's role in helping the club secure a Premier League title win. • In other football news, Mikel Arteta is expected to become one of the Premier League's highest-paid managers after agreeing to a lucrative new contract. • Additional reports indicate that Enzo Maresca has started working behind the scenes at Manchester City, while Hansi Flick is keen for Marcus Rashford to remain at his club.

Estimates suggest £1bn a year is laundered through high street businesses, with some connected to tax evasion, drugs and counterfeit goods“Dodgy” retail outlets such as vape stores, barbers, mini-marts and sweet shops suspected of being used to launder £1bn of criminal money will be targeted by a new specialist unit, the government has said.A £20m National Crime Agency cell will run and coordinate investigations and raids into businesses suspected of acting as fronts for gangsters, the Home Office said. The NCA and police forces in Greater Manchester, the West ­Midlands, Kent and Essex will recruit 75 officers to boost the effort. Continue reading...

Outcry follows release of previously secret documents naming Wollongong suburb as preferred east coast Aukus baseAs Aukus spending and delays blow out, will Australia’s nuclear submarines ever materialise?Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastA labour union has expressed alarm about newly released documents that reveal Port Kembla to be a preferred Australian base for nuclear-powered submarines, saying it would “place a massive target on our backs”.The South Coast Labour Council has warned federal and state politicians of “political fallout” should they proceed with “surrendering Port Kembla to Trump’s Navy” as an Aukus base. Continue reading...

As Keir Starmer endures a slow ousting as PM, former Labour leader Corbyn recalls his own expulsion and looks at the runners and riders“Yeah, I do feel [sorry for him],” said Jeremy Corbyn, with only a little hesitation. “On a personal level it must be devastating. It is a horrible feeling. You suddenly realise that this person doesn’t trust you at all and really doesn’t wish you well at all, and you suddenly realise that any trust that was there actually disappears.”There are few in politics who have had the experience of being the subject of a Labour party-style coup, the British equivalent of being dragged from your office to be put up against a wall. Letters of resignations from so-called political friends, condemnatory statements on social media, all dripped out for maximum effect with the end goal of pushing the target, once the subject of standing ovations and gushing plaudits, out on their tail. Continue reading...

Port Kembla residents will likely resist base due to risk of nuclear accident and potential as target for ‘military adversaries’, documents stateGet our breaking news email, free app or daily news podcastA proposed nuclear submarine base in Port Kembla “could be a target for Australian military adversaries”, previously secret New South Wales government documents have revealed.The documents, prepared by the NSW cabinet office and premier’s department, identify Port Kembla – 75km south of Sydney – as the preferred east coast base for Australia’s proposed nuclear submarine fleet. No site has been announced, but speculation has focused on Brisbane, Newcastle and Port Kembla. Continue reading...

Army supported by Russian mercenaries launches airstrikes after offensive by coalition of Islamist extremists and Tuareg separatistsMali’s armed forces, supported by Russian mercenaries, have launched airstrikes targeting a rebel alliance of Islamist extremists and Tuareg separatists as the ruling junta struggles to maintain its hold on power in the unstable west African country.Earlier this week warplanes targeted the key northern town of Kidal, which was lost when the rebels launched a surprise offensive across much of Mali in late April. Continue reading...