Musk’s OpenAI Bid: Billionaire Bust-Up Begins!

The summary: In a classic billionaire showdown, Musk’s lowball bid for OpenAI, Altman’s cheeky rejection, and grand AI funding promises (with questionable wallets) all boil down to one thing—who’s really steering the future of artificial intelligence, and who’s just along for the drama.

The details:

• Sam Altman gave Elon Musk's $97.4bn takeover bid for OpenAI a firm "no thanks"—but cheekily countered with an offer to buy Twitter for $9.74bn instead.

• Musk, who co-founded OpenAI but left in 2018, claims the company has strayed from its mission, while Altman insists profit-making is necessary to fund AI development.

• Skepticism abounds: Musk’s own AI ambitions raise eyebrows, and his bid is well below OpenAI’s rumoured $300bn valuation—yet his lawyer says they’d consider going higher.

• Meanwhile, OpenAI joins forces with Oracle and others on a $500bn AI project, touted by Trump as historic—though Musk questions whether they even have the money.

Why it matters: Elon Musk trying to buy OpenAI is less about saving humanity and more about settling old scores—like a billionaire soap opera with AI at stake. Sam Altman’s rejection (and cheeky Twitter dig) highlights the power struggle at the heart of the AI boom, where ideology and profit collide. Meanwhile, with trillion-dollar infrastructure projects being announced faster than they can be funded, the real question is who’s actually shaping the future of AI—and who’s just making noise.

Trade War 2.0? Europe Sharpening Its Claws

The summary: Trump’s latest tariff threat has the EU and UK bracing for a trade scrap, with leaders ready to retaliate faster than you can say “import duties”—because nothing says economic genius like making everything more expensive for everyone.

The details:

• Trump’s tariff tantrum is back—this time, a 25% slap on steel and aluminium imports, prompting the EU to sharpen its retaliation toolkit. Brussels isn’t waiting for a formal letter to remind Washington that trade wars have two sides.

• The EU, with German and French leaders leading the charge, warns that tariffs are economic self-sabotage. “You tax us, we tax you,” says Scholz, while Macron is ready for another tariff showdown, déjà vu style.

• Europe still remembers the last round—Harleys, bourbon, and jeans got the tariff treatment in response. If Trump fires first, expect a swift and stylish EU counterstrike.

• The UK, meanwhile, is playing it cool but cautious. With £400m in steel exports on the line, UK Steel calls potential tariffs a “devastating blow.” Starmer’s team is watching closely, ready to react.

Why it matters: Trump’s tariff threats could spark another transatlantic trade spat, hitting European and UK industries just as they’re trying to stay competitive. If Brussels and Washington start slapping duties on each other’s exports, expect everything from German cars to American bourbon to get pricier—not exactly a win for consumers. And with inflation still lurking, adding fuel to the economic fire with a tit-for-tat tariff war feels about as clever as setting fire to your own wallet.

Cult Mia’s £4.5m Boost Disrupts Fashion

The summary: Cult Mia’s £4.5m seed funding and impressive growth are shaking up luxury fashion with a curated, sustainable twist, making it the go-to platform for independent designers and conscious consumers alike.

The details:

• Cult Mia has bagged £4.5m in seed funding, with backers including Fuel Ventures and H&M Group Ventures—proof that shaking up luxury fashion with independent designers is a winning bet.

• The online marketplace isn’t just growing; it’s soaring—191% net revenue growth, a 146% surge in customers, and a higher average order value than Farfetch and Net-a-Porter. Not too shabby.

• Exclusivity is the name of the game, with only 10% of designer applicants making the cut, leading to 400+ curated brands from 46 countries and a near-flawless 98% retention rate.

• More than just style, Cult Mia is all about sustainability—championing ethical fashion and responsible production while redefining luxury shopping for a new generation of conscious consumers.

Why it matters: When a startup secures millions and outperforms industry giants, it’s not just selling clothes—it’s rewriting the rules of luxury fashion. Cult Mia’s explosive growth, ruthless curation, and sustainability-first approach signal that the future of high-end retail belongs to the bold, the ethical, and the independent. With investors lining up and customers spending big, the old guard of luxury fashion might want to start taking notes.

Trending stories

Subsidies halved for controversial Drax power station

City of London seizes dockless e-bikes in Lime and Forest crackdown

Lidl lifts pay ahead of minimum wage rise

BP to target shareholder returns as firm plans fundamental reset