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Updates
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Breaking news: HSBC has named its current chief financial officer Georges Elhedery as its next CEO, replacing Noel Quinn from September 2 https://on.ft.com/4d3B6Z9
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The billionaire has said the companies will move as a response to new gender identity laws in California, dealing a blow to Silicon Valley amid Musk's long-running dispute with governor Gavin Newsom. https://on.ft.com/4d0cDUH
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Microsoft is hiring key talent from start-up Inflection AI – and it has led the UK competition watchdog to launch an inquiry as concerns rise about dealmaking in the AI industry. However, Microsoft maintains that the Inflection deal ‘should not be treated as a merger’. https://on.ft.com/3W7VJwx
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Arkady Volozh is one of only two prominent Russian businessmen to condemn Moscow’s invasion of Ukraine. Now he’s trying to salvage his tech group Yandex’s former international operations by launching an AI venture in Europe mostly staffed with the company’s former employees.
Yandex founder to build AI business in Europe after Russia exit
ft.com
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Donald Trump’s running mate opposes abortion and aid to Ukraine, and says he would not have certified the results of the 2020 vote. https://on.ft.com/3y7H0tp
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Do you always catch a cold just as you clock off for holiday? Here's why and what you can do to stop it. Register with FT Edit to read for free.
The odd and embarrassing causes of leisure sickness
ft.com
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Southern Water made a loss of more than £210mn last year — and wants its customers to foot the bill. So why the huge bonuses for its bosses? Register with FT Edit to read for free.
Southern Water pays chief £183,000 bonus after proposing 73% rise in customer bills
ft.com
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The IMF’s chief economist has said that officials 'should be ready for more bumps in the road' as they wrestle to get inflation back to their 2% goals. The concerns have come as the Federal Reserve and the Bank of England consider rate cuts. https://on.ft.com/464cNrZ