Mideast AI Chips Frenzy, 5% Defense Spending, Milan’s ‘Svuota Londra’ Bet

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions — and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region.

(2) President Donald Trump and Saudi Crown Prince Mohammed bin Salman touted a pledge for $1 trillion in commercial deals in Riyadh on Tuesday, a staggering figure that doesn’t quite stand up to scrutiny.

(3) President Donald Trump said a luxury jet being offered by the government of Qatar would be used as a temporary Air Force One, indicating an intention to accept a gift that has sparked ethical and security concerns in Washington.

(4) It's only been 6 weeks since the UK's non-dom tax regime ended. It gave wealthy individuals favourable tax treatment for overseas earnings. Now Italy is proving an early winner in the race to attract wealthy investors from the UK.

(5) NATO allies have started cobbling together an agreement to significantly boost defense spending in a way that may assuage US President Donald Trump’s demand to spend 5% of economic output on the military.

(6) The UK and EU are in the toughest stage of talks to agree a common security pact, Defence Secretary John Healey said, as the government seeks to secure access to European spending programs for British firms.

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