Anthropic's flagship model, Fable 5, looks set to return as early as next week, after the Trump administration moved closer to lifting the national security restrictions that pulled it offline earlier this month. The shutdown left developers and businesses scrambling — proof that even the most advanced AI tools now live and die by political decisions, not just product quality. Anthropic is reportedly working with US officials on a more formal review process for future frontier releases. That's the real story here: AI's biggest players are no longer just building models, they're building relationships with Washington.

The must read articles that are moving the business landscape today.

GameStop says it's pressing ahead with its $56 billion bid for eBay, even after the marketplace turned it down flat. CEO Ryan Cohen argues a combined company would finally give Amazon real competition, and says a detailed strategic plan is coming soon. The retailer also raised its 2026 earnings forecast, sending shares higher after hours. This matters because hostile bids rarely succeed without leverage — and right now, GameStop's leverage is just confidence.

Australia is proposing to double the maximum fine for platforms that let under-16s slip through its social media ban, pushing penalties up to A$99 million. The eSafety regulator would also get new powers to demand proof platforms are actually enforcing the rule. The move follows findings that plenty of under-16s are still getting through. For platforms operating in Australia, "good enough" compliance just got a lot more expensive.

The US has expanded its import ban to cover older telecoms and surveillance gear from Huawei, ZTE, Hytera, Hikvision and Dahua, with the FCC citing national security risks to critical infrastructure. The new restrictions kick in early July and build on a year-long string of similar moves. For US companies still running this older equipment, the clock just started on an expensive replacement job.

New Fed Chair Kevin Warsh is heading into two early tests of his leadership: a looming Supreme Court ruling on whether presidents can remove Fed governors, and his debut on the world stage at the European Central Bank's conference in Portugal. Warsh has already signalled he'll offer less forward guidance than his predecessors, betting markets can handle reading the data themselves. Investors hate surprises, so this is a real test of nerve — his and theirs.

The one story from the archives worth remembering today, so you can spot the pattern before everyone else does.

A year ago, Nvidia capped a five-day winning streak by hitting fresh record highs, pushing its market cap to roughly $3.8 trillion and overtaking Microsoft and Apple as the world's most valuable company. The stock had clawed back from a rough start to 2025, when tariff fears and China export controls knocked it down. It's a reminder that today's AI access fights — like the one keeping Fable 5 offline — carry real financial stakes, not just technical ones. Funny how the AI story never really changes, just the name on the marquee

The one piece of business jargon demystified today, so you can nod along with confidence.

What it means: This is when a company tries to buy another one even though the target's board has said no thanks. Instead of walking away, the buyer can go around the board — appealing directly to shareholders, or just publicly pressuring management until they cave. GameStop's eBay pursuit is a textbook example: rejected once, but not backing down.