Musk names veteran banker Anthony Armstrong as xAI finance chief, FT says

Elon Musk has appointed former Morgan Stanley banker, Armstrong, as the new CFO of xAI, signaling a strategic move to strengthen the company's financial leadership. This appointment is significant as it reflects Musk's commitment to enhancing xAI's operational efficiency and financial management, which could lead to innovative advancements in artificial intelligence.

Elon Musk has appointed Anthony Armstrong, a former banker at Morgan Stanley, as the new CFO of xAI. This move is significant as it brings experienced financial management to both the AI group and the social media platform X, potentially enhancing their operational efficiency and strategic growth. Armstrong's expertise could play a crucial role in navigating the financial landscape of these innovative ventures.

Tan Su Shan, the CEO of DBS, has been recognized as Fortune's most powerful woman in Asia for 2025, marking a significant achievement in the finance and tech sectors. This accolade not only highlights her leadership in Southeast Asia's largest bank but also underscores the growing influence of women in high-ranking positions within traditionally male-dominated industries. Her recognition is a testament to the progress being made towards gender equality in leadership roles.

Elon Musk's xAI is making a significant investment in Memphis with its ambitious 'Colossus' data centers, aiming to gain an edge in the competitive AI landscape. However, this move has sparked a debate in the community due to the substantial power and water requirements these facilities demand. As the tech industry races to innovate, the implications of such developments on local resources and infrastructure are crucial to consider.

Shell's US executive has expressed concerns that President Trump's decision to halt wind energy projects is detrimental to investment in renewable energy. This move could slow down the progress of clean energy initiatives, which are crucial for combating climate change and transitioning to sustainable energy sources. The implications of this decision may hinder the growth of the wind energy sector and affect job creation in the industry.

The FTSE 100 is set to decline for a second consecutive day as investors react to ongoing economic concerns. This drop reflects broader market trends and uncertainty surrounding the UK's economic outlook, which could impact investment decisions and consumer confidence. Understanding these fluctuations is crucial for stakeholders looking to navigate the current financial landscape.

PayPal's CEO has announced that India's Unified Payments Interface (UPI) will be the first onboard payments system partner for its platform. This partnership is significant as it highlights PayPal's commitment to expanding its services in India, a rapidly growing market for digital payments. By integrating UPI, PayPal aims to enhance user experience and streamline transactions, making it easier for consumers and businesses alike to engage in digital commerce.

The Japanese yen has fallen to a two-month low amid growing concerns surrounding the upcoming elections in Japan. This decline reflects investor anxiety about potential political instability and its impact on the economy. As the election approaches, market participants are closely watching how the results could influence monetary policy and economic recovery, making this situation significant for both local and global markets.

Jefferies has downgraded UPM-Kymmene's stock rating to 'Hold' due to a perceived lack of catalysts for growth. This decision reflects concerns about the company's future performance and could impact investor confidence. Downgrades like this can lead to decreased stock prices and may influence market sentiment, making it crucial for UPM-Kymmene to address these concerns to regain investor trust.

Gold prices have surged to record highs nearing $4,000 per ounce, driven by rising global political uncertainty. This spike is significant as it reflects investors' growing demand for safe-haven assets amid economic instability, making gold a key player in financial markets. Such trends can influence investment strategies and economic forecasts, highlighting the importance of gold in times of crisis.

Authorities are currently evacuating remaining trekkers near Mount Everest due to adverse weather conditions. This situation is critical as it ensures the safety of those still in the area, highlighting the importance of timely rescue operations in extreme environments. The evacuation reflects the ongoing challenges faced by adventurers in the region, especially during unpredictable weather.