Happy Monday. So last week the SpaceX IPO meant that Elon Musk became the first trillionaire in history. But how much is trillion, really? Well here’s a fun breakdown for you using time:

A trillion seconds ago, this lovely island of ours was still connected to mainland Europe, since sea levels hadn’t swallowed up the Doggerland landmass yet.

But to make you feel wealthier, unless you have debts worth over half a trillion, the second richest person in the world, Larry Page, has a net worth far closer to you than he does to Elon Musk.

Notable UK earnings this week: Bellway (BWY), Berkley Group Holidings (BKG).

Notable US earnings this week: Jabil (JBL), CarMax (KMX), Accenture (ACN), Kroger (KR).

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🏗️ McAlpine set to be replaced at £4bn gigafactory construction in Somerset. Read more

🌊 BP hand out new drilling contract to Noble on UK Continental Shelf. Read more

🛫 11 chosen for £2bn Gatwick airport upgrade. Read more

Economy contracted in April
The UK economy has taken a small but unwelcome step backwards, with official figures showing output fell by 0.1% in April as fuel prices jumped on the back of the Iran war. For a country already well acquainted with grim-faced receipts at the petrol pump, this was hardly a surprise of the cheerful, bunting-and-picnic variety.

The Office for National Statistics said gross domestic product, the broad measure of everything the economy produces, dipped last month after a stronger-than-expected start to the conflict period. Over the three months from February to April, however, the economy still grew by 0.7% — the fifth straight quarter-style run of growth, so not exactly the end of the world, though it’s hardly a victory parade down Whitehall either.

April’s weakness was driven mainly by a 0.2% fall in services, which make up the lion’s share of the economy. Construction managed a modest 0.1% rise, while production was flat, suggesting that Britain’s economic engine is still ticking over, just with a rather spluttering exhaust note.

US takeover for Tate & Lyle
U.S. ingredients maker Ingredion is in talks to take over London-listed Tate & Lyle in a deal valuing the British firm at about £2.74 billion ($3.7 billion), sending Tate & Lyle’s shares up 55% on Thursday. Not exactly a quiet day at the office then — more of a full-blown sugar rush, with investors reaching for the calculator rather than the biscuit tin.

If the deal goes through, it could create a food and beverage ingredients heavyweight worth more than $10 billion, neatly tapping into the world’s ongoing obsession with low-calorie drinks, healthier diets and all things plant-based. In other words, while consumers are trying to cut back on sugar, the companies behind the sweet stuff are busy making sure they don’t get left out in the cold — because apparently even self-control needs an industrial supply chain.

Tate & Lyle, which supplies ingredients to firms including Unilever and Nestlé, has been under pressure from weaker U.S. bakery demand, softer European pricing and higher costs. Earlier this year it also bought U.S.-based CP Kelco, adding plant-based products such as pectin and speciality gums — proof, if proof were needed, that the ingredients trade now involves citrus peel and seaweed as much as it does anything Aunt Bessie would recognise.

Face value
Cambridgeshire Police will bring live facial recognition back to Peterborough on 19 June, after its first outing scanned 34,000 faces and helped arrest two wanted men. Officers say matches are checked by humans and most data is swiftly deleted, though privacy concerns remain. At roughly £6,000 a deployment, Big Brother is apparently renting by the day.

Scrolling showdown
The White House has urged Britain not to ban social media for under-16s, warning it could unfairly burden US tech firms. The Govt. is also currently battling the always watching your screen feature about to come in and Westminster, however, looks ready to tighten the parental controls: Culture Secretary Lisa Nandy says platforms have had “more than enough time” to make their products safe, with possible plans including age bans, curfews and limits on addictive features.

The politics is less neatly filtered. Conservatives broadly support a ban, while campaigner Ian Russell, whose daughter Molly died after viewing harmful content online, fears a rushed policy could do more harm than good. Everyone agrees children need protection; nobody agrees whether the answer is prohibition, regulation, or simply taking the charger away.

New Anthropic AI pulled from market for being too powerful
Anthropic has yanked its powerful Fable 5 model after the US government ordered the company to cut off access to all foreign nationals — a move that rather takes “global collaboration” and kicks it down the stairs. The Trump administration said it was acting under “national security authorities”, instructing Anthropic to suspend access to Fable 5 and Mythos 5 for any foreign national, including staff, wherever they happen to be on planet Earth.

The company said customer access to the models had been “abruptly” disabled to comply with the directive, while other Anthropic models remain available.

Anthropic says it was not given specific details about the government’s concerns, but believes the move stems from a misunderstanding over a narrow “jailbreak” — the sort of security-bypassing trick that sounds like something from a decent heist film, except with more keyboards and fewer trench coats. Before release, Anthropic had already described Mythos, the base model behind Fable 5, as “too powerful”, warning it had an exceptional ability to find software vulnerabilities.

That is precisely why 50 companies were given access in advance, to test their own systems for weaknesses before the public got their hands on it. Three days ago, Anthropic released Fable 5, a heavily guarded version of Mythos, and benchmark tests said it was the most capable public AI model available. In other words: the machine turned up, passed the exam, and immediately made everyone else look like they’d forgotten their pencil cases.

UFC fight on White House lawn despite last minute legal challenges
The UFC’s novelty fight night at the White House went ahead last night after a US judge rejected a federal lawsuit trying to knock it off course. The event, UFC Freedom 250, took place on the South Lawn on Sunday — Donald Trump’s 80th birthday, because apparently subtlety has packed its bags and left Washington.

The timing is not exactly shy and retiring. The card is being billed as part of America’s 250th anniversary celebrations, while critics argued it was a “profound misuse” of a sacred national site for private gain. A federal judge, though, decided the challenge had come in late and with too little evidence of harm — rather like turning up to a pub quiz after the final round and asking for a crack at the trophy.

Judge Amit P. Mehta said the plaintiffs had not shown any irreparable damage or aesthetic injury if the bouts went ahead, noting the event had been public knowledge for nearly a year. Back in Old Blighty we hope this paves the way for a game of rounders outside number 10 Downing Street.

Domain drain
US authorities have seized 13 web domains allegedly posing as consulting firms to lure current and former government or military staff into sharing sensitive information with suspected Chinese agents. Beijing called the claims fabricated; Washington called it virtual espionage with a LinkedIn-shaped fishing net.

Crypto comeback
More than £8.5m linked to fugitive “Cryptoqueen” Ruja Ignatova will be returned to Germany for OneCoin victim compensation. Guernsey investigators traced the proceeds through trusts and two Kensington properties — proving even crypto cash occasionally leaves muddy footprints.

Artificial un-itillegence
A Derbyshire police officer has been removed from frontline duties while claims are investigated that AI was used to “create evidence” in several cases. Courts and defence teams are being contacted, making “the computer made it up” rather more serious than a dodgy homework excuse.

Betting on the boss
Prediction market Kalshi will ask some users where they work before allowing wagers on events vulnerable to insider trading. The aim is to stop employees, politicians and officials betting with privileged knowledge — because forecasting the future is one thing; reading tomorrow’s memo is quite another.

Ceilings and citizens
Switzerland is voting on whether to cap its population at 10 million, with supporters blaming immigration for strained housing, transport and services. Opponents warn the limit could worsen labour shortages and threaten agreements with the EU. It is a national debate about overcrowding, ageing and identity — essentially, whether Switzerland can put a “house full” sign on the Alps.

Floor planning
A Chinese buyer paid for a 34th-floor flat, only to discover four years later that the building stopped at 32. The cut-price property came with limited legal rights, and although arbitration ordered the developer to refund him, much of the money remains unpaid. Proof that getting on the housing ladder is difficult when the top two rungs are imaginary.

Drone and dusted
Former South Korean president Yoon Suk Yeol has received another 30-year sentence after a court ruled he sent drones into North Korea to provoke a crisis and support his later martial-law bid. Already serving life for insurrection, Yoon was found to have increased the risk of conflict for political ends — a remarkably dangerous way to manufacture a distraction.