FT News Briefing

Sunak’s early election gamble

May 23, 2024

09:37

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Rishi Sunak calls for a UK election on July 4th, Nvidia's AI chip sales skyrocket, Adani Group accused of fraud with coal sales, and genetically engineered mosquitoes released in Djibouti to combat malaria.

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Quick takeaways

Rishi Sunak's July 4 election announcement caught stakeholders off guard, showcasing a strategic move amidst challenges.

NVIDIA's impressive 262% revenue growth from AI chips exceeds expectations, driving share price surge and future optimism.

Deep dives

UK Prime Minister Rishi Sunak Calls for Early General Election

UK Prime Minister Rishi Sunak surprised many by announcing an early general election on Thursday, July 4th. This decision caught various political stakeholders off guard, with Sunak keeping his plans hidden until the last minute. The move is seen as an attempt by conservatives to improve their standing amidst challenges. Factors influencing this decision included concerns about the economic outlook and the timing related to immigration actions.

Introduction

3min

Economic and Political Developments with Focus on Adani Group's Fraudulent Coal Scheme

6min

Exploitation in India and Genetic Engineering of Mosquitoes

2min

Rishi Sunak has taken a huge gamble by announcing a July 4 election, record sales of artificial intelligence chips sent Nvidia’s revenue soaring 262 per cent in the past quarter Adani Group passed off low-quality coal as far more expensive cleaner fuel in transactions with an Indian state power utility, according to evidence seen by the Financial Times, and the first batch of genetically engineered non-biting mosquitoes will be released in Djibouti on Thursday.

Mentioned in this podcast:

Rishi Sunak calls July 4 UK election

Nvidia’s revenue beats high expectations as AI chip demand climbs

Federal Reserve officials were open to further US rate rises to quell inflation

Adani suspected of fraud by selling low-grade coal as high-value fuel

Djibouti looks to genetically engineered mosquitoes to quell urban malaria wave

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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