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London-headquartered bank’s shares slide as it sets aside an extra $300m to cover effects of Middle East conflictBusiness live – latest updatesHSBC has suffered a $1.3bn (£961m) hit to profits, fuelled by the fallout from the US-Israel war on Iran and fraud in the troubled private credit sector.The London-headquartered bank said profits fell 4% in the first three months of the year, dropping $100m to $9.4bn, compared with the same period in 2025. Revenue increased 6% to $18.6bn. Continue reading...

• Anthropic expanded its AI strategy by acquiring AI drug discovery startup Coefficient Bio for approximately $400 million and launching a political action committee to influence AI regulation. • The company is also seeing surging investor demand for its shares amid tightening AI infrastructure supply and growing market appetite. • These moves position Anthropic to shape policy, enter life sciences, and capitalize on demand for leading AI technologies in the US.

US National Park Service lawyers cite materials that will be installed to make ‘heavily fortified’ facilityDonald Trump’s administration is arguing that a judge’s order to halt construction of a $400m White House ballroom creates a security risk for the US president as his team asks a federal appeals court to pause the ruling.In a motion filed on Friday, US National Park Service (NPS) lawyers say that the federal judge’s order to suspend construction of the new facility is “threatening grave national-security harms to the White House, the president and his family, and the president’s staff”. Continue reading...

US president demolished East Wing of White House last year to make way for 90,000-sq-ft projectSign up for the Breaking News US email to get newsletter alerts in your inboxA US judge has halted the construction of Donald Trump’s $400m White House ballroom.The US president demolished the historic East Wing of the White House last year to make way for the project. Continue reading...