‘What happens in Paris doesn’t stay in Paris!’ Wall Street fears ‘doom loop’ as ‘France is veering toward a full-blown civil crisis’

Good morning. On Fortune’s radar today:

Anthropic recruiting for White House lobbying effort for 2028 cycle.

Trump: No more war until after the midterms.

Wall Street fears ‘doom loop’ as ‘France is veering toward a full-blown civil crisis.’

Schneider chairman defends $22.6 billion PTC deal.

Lack of air conditioning could wipe 2.6% off global GDP.

How much you need to retire comfortably in every U.S. state: See the list here.

Anthropic launching a ‘presidential engagement’ effort for 2028 election cycle

Anthropic is setting up a “presidential engagement” program ahead of the 2028 elections, building an in-house team that will work directly with U.S. presidential candidates from both parties on AI issues, help Anthropic’s leadership set political strategy, and run the company’s political funding program.

The effort—which is taking shape before the November midterm elections and an impending initial public offering that could value Anthropic at as much as $2 trillion—underscores the extent to which government policy, and the support of the White House in particular, have become critical to the AI industry, Fortune’s Emily Forlini reports.

OpenAI annualised revenues $20bn less than previously signalled - FT

Anthropic's new plan to protect critical infrastructure - Axios

OpenAI defends decision to fire researchers: ‘These decisions were not about raising safety concerns or speaking out’ - CNBC

Trump rules out further combat in Iran until after elections

The U.S. will not restart its war against Iran until after the midterms, President Trump said last night on social media: “We are having productive discussions with the Islamic Republic of Iran. … we will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd.”

Nonetheless, the Pentagon is sending three more aircraft carriers to the region, “a massive assembly of force,” according to the NYT, and presenting Trump with a range of plans for major combat operations.

The president is hesitant, the NYT said: “Mr. Trump has repeatedly decided not to relaunch heavy combat operations against Iran. And the U.S. military response to Iran has been more muted in recent weeks, despite Iran’s escalating attacks on oil tankers.”

Iran and Houthis Try to Regain Upper Hand in Hormuz With Spate of New Attacks - WSJ

American Oil Refiners Are Printing Money as Wars Shrink Global Energy Supplies - WSJ

The Big Mac Dilemma: Can McDonald's Fix Sales? | Fortune Daily

Disney offered a 13-year-old $2 million to sing in The Lion King—his mom took $100k plus royalties instead. He’s still getting paid 32 years later - Orianna Rosa Royle

‘The gap was not the awareness’: The company phishing trainings you loathe aren’t enough when nearly 1 in 4 security pros say their MFA is optional - Tatiana Sataua

‘You decided to evade them’: Former HSBC banker ‘clearly in a financial position to pay’ banned from finance for dodging $7,800 in fares - Catherina Gioino

Sweden’s startups will raise $5 billion in 2026. Our secret sauce is 150 years old - Jan Larsson

Gwynne Shotwell’s $300 million SpaceX pledge to Trump Accounts shows billionaires a tax-smart way to........

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