Farage Beats Binface, 2001 US Debt Cost Record, Weather Forecasting Drones

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Nigel Farage is returning to Parliament after winning an election designed to turn the page on questions over his personal finances that saw the Reform UK leader go head-to-head against a satirical candidate dressed as a trash can.

(2) The US government sold 30-year bonds at the highest interest rate in a quarter century, a testament to investors’ demand for greater compensation to finance the nation’s growing deficit.

(3) UK Prime Minister Andy Burnham faces a dilemma over how to cut the cost of living while rebalancing business taxes toward larger companies. Hitting some bigger firms might cause them to pass prices onto consumers.

(4) OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, according to people familiar with the matter, roughly doubling its run rate from the end of 2025 and bolstering the company’s plans for a Wall Street debut.

(5) Poland said its security services prevented the assassination of a US citizen originally from Ukraine that was ordered by Russian intelligence.

(6) An unusually powerful El Niño is raising the odds that 2026 will surpass 2024 as the world’s hottest year on record, and regardless, 2027 is expected to set a new high, according to a monthly analysis of global weather data by Berkeley Earth, a nonprofit research group.

(7) Heat wave warnings are still in place in much of Europe today, although the peak in temperatures has now passed in France and the UK. The more frequent extreme weather events are pushing forecasters into using new technologies.

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