Tech entrepreneurs and investors who claim to have left California to avoid a proposed ‘billionaire tax’ should expect an intrusive residency audit to test whether they still have to pay the 5% levy. ft.trib.al/0qV2HvP

Breaking news: SpaceX has slipped below its listing price of $135 per share, extending a slide that has erased $800bn from the value of Elon Musk’s conglomerate since a peak shortly after its record public offering. ft.trib.al/4mZw67D

'This dazzling, imperfect film is Christopher Nolan’s Odyssey to the core.' Tap here to read Danny Leigh's ★★★★☆ review: ft.trib.al/PRDgxri

Colleagues of Shabana Mahmood confirmed that the home secretary has discussed policy issues with Andy Burnham this month, mainly covering home affairs but also the economy. ft.trib.al/3IDEVw9

World Cup semi-final rekindles rivalry fuelled by Falklands dispute and fierce clashes on the pitch. ft.trib.al/onPjk5f

Payments start-up Stripe and private equity group Advent International have launched a joint bid to acquire New York-listed PayPal in a deal that would value the company at about $53bn ft.trib.al/Lerlq0o

Good morning, New York. While you were sleeping, this was the most-read story ft.trib.al/BgzevG8

Actor Sam Neill, who has died aged 78, was famous to international audiences as palaeontologist Alan Grant in the Jurassic Park films: ft.trib.al/YfwsUNf

Ministers have clashed with Big Tech platforms over plans to crack down on social media use, with executives at the US groups arguing that young people will also be restricted from valuable resources for learning and communication with friends and family ft.trib.al/EzJO2tf

FT Exclusive: Brussels has allowed Kyiv to use part of a €6bn tranche to purchase critical items in short supply in Europe — a move that highlights China’s role in supplying both sides in the Russia-Ukraine conflict. ft.trib.al/tXCw4MR

The US president’s gamble on resuming hostilities raises the prospect that the conflict in the Middle East will overshadow his second term. ft.trib.al/x1Ytek1

Good morning, Asia. While you were sleeping, one of our most-read stories was about the shift in the billionaire’s personal charity plans after revelations about the Microsoft co-founder’s ties to Jeffrey Epstein. ft.trib.al/BmaqCNN

The Trump administration's national security strategy, released last year, called for 'cultivating resistance' to Europe's current trajectory. ft.trib.al/OAjxSFu

Opinion: A fractious opposition is doing everything it can to spurn an open goal. ft.trib.al/oc2420f

A recent study challenges assumptions that young people are driving the weak demand and falling sales plaguing the global drinks industry. ft.trib.al/VgFdFMS

The money Trump owed the writer had been sitting in a government account as the US president appealed against the verdict and judgment. A federal judge ordered the funds, plus interest, to be transferred to Carroll after the US Supreme Court declined to take up his appeal. ft.trib.al/1uK4Esi

New York will ban construction of new data centres of more than 50 megawatts — a typical data centre is at least 100MW — for a period of one year, stopping new permit applications and pausing outstanding ones, said governor Kathy Hochul. ft.trib.al/WZC79ES

The Mexican food chain, which said it would offer the same menu in Mexico as in the US, is betting that its offering will stand out in the country that inspired its cuisine. ft.trib.al/XT9DuvU

The omission of the Gates Foundation follows a series of revelations about Bill Gates’ ties to Jeffrey Epstein. ft.trib.al/ujSiQ6Y

Breaking news: US inflation fell sharply to 3.5% in June as lower oil prices helped tame a surge in costs for Americans ft.trib.al/KMUA2Q8

Breaking news: JPMorgan Chase has reported a 41% increase in profits for the second quarter, boosted by improvements at its investment banking and trading divisions as well as gains from its stake in Visa. Follow for live updates: ft.trib.al/9SAy1yV

NM Rothschild & Sons, the UK investment banking arm of Rothschild & Co, reported an 18% drop in pre-tax profits to £84.9mn in 2025 despite an increase in revenues, according to accounts filed at Companies House ft.trib.al/metjxDs

Britons flying to Gibraltar from the UK will have to go through the EU’s contentious new electronic border system from this week, as the after-effects of Brexit finally reach the territory ft.trib.al/AMAserR

US small-cap stocks are bucking years of underperformance to enjoy their best year since 2003, helped by AI spending, tax changes and low valuations. ft.trib.al/97zbvwk

The US president’s $10bn complaint over his leaked tax information was brought for the ‘improper purpose’ of legitimising a legally dubious deal, a US judge said in a ruling. ft.trib.al/LROIgEW

New Prime Minister Péter Magyar described Hungary's president Tamás Sulyok as a Viktor Orbán 'puppet' who carried out the illiberal leader's agenda until he was ousted in April. ft.trib.al/f9mYtW9

How can a region with 5% of the world’s population be so good? I’ve been on a life-long journey to find out, writes Simon Kuper. ft.trib.al/rNcqyfJ

Donald Trump said the US will reinstate its naval blockade of Iran and charge ships a 20% fee on cargo passing through the Strait of Hormuz. ft.trib.al/Ax9ETpf

Opinion: The US president has a genius for alienating existing and potential allies. ft.trib.al/IYibHFz

FT Exclusive: DP World is planning to build a new port and a container terminal on the United Arab Emirates’ east coast that would reduce Dubai’s dependence on its flagship Jebel Ali hub and bypass the Strait of Hormuz. ft.trib.al/5qcQIrM