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The Controversial Bet on AI BookkeepingDespite the collapse of his previous startup, Ian Crosby is taking another shot at building a business out of automating bookkeeping. His new venture, Synthetic, aims to create a fully autonomous AI bookkeeper that can generate accrual-based financials without direct human involvement.The Vision Behind SyntheticSynthetic is designed to revolutionize bookkeeping by eliminating the need for human accountants, a stark contrast to current accounting startups like Xero. Crosby maintains an all-or-nothing approach: "We're not going to release anything that's not fully autonomous. It's that or bust."The startup is currently in the design phase, with Crosby acknowledging that his vision may not yet be technologically possible. The company plans to initially serve only AI and other software startups.The $10 Million InvestmentDespite the challenges and Crosby's troubled past with Bench Accounting, Synthetic has successfully raised $10 million in a Seed funding round led by Khosla Ventures. The round also saw participation from Basis Set Ventures and Shopify CEO Tobias Lütke.This financial backing provides Crosby with the resources to wait for foundational AI models to become more reliable for bookkeeping calculations. "I've raised years of cash, so we can just wait it out," Crosby stated.Learning from Past FailuresKhosla partner Jon Chu defended the investment by explaining his tendency to "run towards controversy a little bit." He cited Parker Conrad's journey from Zenefits to founding Rippling (now valued at $17 billion) as an example of how industry narratives can be misleading.Chu conducted thorough due diligence, speaking with several executives who worked with Crosby after his departure from Bench. According to Chu, they "had fantastic things to say about Ian." This feedback, combined with Crosby's subsequent roles at Shopify and founding of Teal (which was acquired by Mercury), convinced Khosla of his growth potential.The Bench Accounting FalloutCrosby's previous venture, Bench Accounting, famously shut down in 2024 before being "bought for scraps." Crosby maintains he wasn't directly responsible for bringing the company to insolvency, stating he was fired by Bench's board in 2021 after turning down a $250 million acquisition offer from Brex.The board reportedly disagreed with Crosby's strategic direction as the business was bleeding cash, and his executive team was frustrated with his direct leadership style. "He took a big swing, made a few mistakes. That didn't go well," Chu acknowledged about Crosby's tenure at Bench.The Path to Autonomous AI BookkeepingWhile Synthetic's prototype works for a narrow group of users, Crosby remains uncertain how it will scale for a broader customer base. He compared the current state of AI bookkeeping to "a self-driving car that can drive down one street versus the self-driving car that can drive down any street.""We haven't driven down enough streets to know if it's going to crash," Crosby explained, highlighting the technical challenges ahead. Despite these obstacles, the founder remains committed to his vision of a fully automated financial future.

Executive Summary: Labour’s Post‑Brexit CrossroadsTen years after the referendum, the UK remains divided over Brexit, and Labour has suffered a sweeping loss in recent elections across England, Scotland and Wales. Columnist Larry Elliott contends that the party’s indecision—trying to straddle both the pro‑remain and pro‑leave camps—will continue to erode its support unless it adopts a clear, singular approach.Brexit’s Ten‑Year Political Aftermath and Labour’s Recent DefeatThe 2016 vote reshaped British politics, breaking the two‑party duopoly and creating new fault lines. Keir Starmer’s government, elected with a massive majority in 2024, was humbled by a “record defeat” in 2026, losing seats to the Green Party in remain‑leaning areas and to Reform UK in former Brexit strongholds.2019: Conservatives win landslide.2024: Labour secures large parliamentary majority.2026: Labour suffers massive losses in England, Scotland and Wales.Electoral Numbers and Economic Indicators Highlighting the CrisisWhile the article provides limited hard data, several trends are evident:Living standards have been flat‑lining for almost two decades, fueling voter discontent.Growth is expected to slow and inflation to rise as global conflicts in Iran and Lebanon impact the UK economy.The financial services sector, the sole Brexit beneficiary, continues to thrive under a lighter‑touch regulatory regime championed by former Chancellor Jeremy Hunt and current Chancellor Rachel Reeves.Why Labour’s Ambiguous Brexit Strategy Risks Further MarginalisationLabour’s current “middle way” seeks closer EU ties without re‑joining the single market or customs union, while also avoiding a second referendum. This approach, according to Elliott, pleases neither remain voters nor leave supporters, leaving the party without a compelling narrative.The EU remains the UK’s biggest trading partner, and the Greens have captured remain‑leaning voters, while Reform UK has consolidated the Brexit‑loyal electorate. Labour’s failure to present a decisive plan means it cedes ground to both sides.Potential Paths Forward: Re‑embrace Brexit or Rejoin the EUElliott outlines two coherent options:Exploit Brexit freedoms: Use tariffs, subsidies, government procurement and capital controls to rebuild manufacturing, mirroring successful East Asian models.Reverse Brexit: Treat the EU exit as a mistake and campaign for re‑entry, aligning with the economic arguments of remain‑leaning voters.Without committing to one of these routes, Labour risks further electoral erosion as voters seek parties with clear, actionable policies.

The LeadThe FIFA World Cup 2026 is set to be the biggest tournament in its 96-year history, featuring 48 teams from across six confederations. This expansion brings both opportunities and challenges for the global game. The Event DetailsThe participating nations are divided into 12 groups of four teams each, replacing the previous 32-team, eight-group format. The top two teams in each of the 12 groups, plus the eight best third-placed teams, will advance to the round of 32. From there on, it's a straightforward knockout format, followed by the last-16, quarterfinals, semifinals, and the final. The Data AnalysisAccording to a FIFA release, the World Trade Organization (WTO) estimated that the expanded tournament will produce $80.1bn in gross output, including $30.5bn to the cohost, the United States. FIFA President Gianni Infantino expects to generate $11bn in revenue from the tournament, which will be ploughed back into the game. The Impact AnalysisThe expansion offers more opportunities for smaller nations, with four nations making their debut in North America: Curacao, Cape Verde, Jordan, and Uzbekistan. However, this could also lead to a rise in low-stakes, potentially one-sided match-ups, diluting the intensity and quality of group stage fixtures. The PredictionAs the World Cup continues to evolve, it's clear that the 2026 tournament will be a significant milestone. With more teams and more matches, the competition is expected to be fiercer than ever. However, the short post-tournament recovery window for players could be a challenge, with most top European leagues beginning their 2026-27 season just a month after the World Cup final.

PSG's Fifth Consecutive Ligue 1 CrownBy the time Paris Saint-Germain finally travelled to Lens on Wednesday evening, they had all but wrapped up their fifth consecutive Ligue 1 title. Their six-point advantage, bolstered by a clear lead in goal difference, was already insurmountable with two matches remaining. The match at the Stade Bollaert, though billed as a top-of-the-table clash, had been devalued by its postponement until the midweek before the final day of the campaign.The Controversial Postponement and Its AftermathThe decision to push back the match centered around the league's efforts to improve Ligue 1's European coefficient, following a precedent set in previous seasons. Lens had published a statement in late March arguing against the postponement, railing against the idea that "the 10th highest budget should adapt according to the demands of the most powerful, in the name of interests which seemingly go beyond the domestic scope." By the time they met on Wednesday night, both teams were more invested in preparing for their upcoming finals—Lens aiming for their first Coupe de France title and PSG seeking to retain the Champions League.On-Pitch Performance and Statistical AnalysisA clinical PSG duly wrapped up the league title with a 2-0 win. Khvicha Kvaratskhelia gave the visitors the lead with his 11th goal in 13 matches, having been played through by Ousmane Dembélé. Ibrahim Mbaye came off the bench to seal the result in stoppage time with an emphatic top-corner finish. The hosts managed no fewer than 25 shots but were thwarted at every turn by Matvey Safonov, who has firmly established himself as the No 1 keeper since the turn of the year.Changing Dynamics in French FootballDespite the controversy, PSG's nine-point advantage attests to their status as the best and most consistent team in the league. While their second-choice lineups have struggled domestically, at least one star has always been available to provide the decisive push. Lens, under Pierre Sage, have overseen one of the strongest challenges to PSG's domination, securing second place and a return to the Champions League after three seasons away. The club appears to have a long-term plan in place to challenge at the top more consistently in coming seasons.Future Outlook and Talking PointsThis year's title race deserved a higher-stakes finale, but Lens still have a chance to end their campaign on a high when they meet Nice in the cup final. PSG, meanwhile, finish their league season at Paris FC before their Champions League final in Budapest. Elsewhere, Le Mans' promotion to Ligue 1 was made official, with the league awarding them a 3-0 win after their game at Bastia was called off due to fan misconduct. The club, now owned by a Brazilian consortium that includes Felipe Massa and Novak Djokovic, intends to build a long-term project in the city.

Defence Minister Condemns Yamal’s Flag GestureIsrael Katz, Israel’s defence minister, blasted Lamine Yamal after the 18‑year‑old waved a large Palestinian flag from an open‑top bus during Barcelona’s victory parade, labeling the act as "inciting hate" while Israeli forces combat Hamas.Flag Wave During Barcelona Victory ParadeThe flag was displayed on Monday, May 12, 2026, as Barcelona celebrated clinching the Spanish league title. Yamal posted photos of himself holding the flag on Instagram, sparking immediate backlash from Israeli officials.Scale of Public Turnout and Political BackdropApproximately 750,000 spectators lined the streets for the parade, according to local authorities.The Gaza conflict has already claimed more than 72,000 Palestinian lives, fueling worldwide criticism of Israel.Spain is one of five nations boycotting this year’s Eurovision Song Contest in protest of Israel’s participation.Repercussions Across Sports and International RelationsThe incident adds to a growing pattern of sports‑related protests, from disrupted cycling events in the Spanish Vuelta to calls for boycotts of Israeli‑backed teams. It highlights the increasing pressure on athletes to navigate geopolitical tensions while representing their clubs and countries.What Lies Ahead for Yamal and Spanish FootballYamal is slated to feature for Spain at the 2026 World Cup in North America. How the Spanish federation and sponsors respond could set a precedent for handling political expression on the field, potentially influencing future disciplinary policies across European football.

The Lead US President Donald Trump and Chinese leader Xi Jinping discussed the Strait of Hormuz, a critical waterway for global energy supplies, as tensions between the US and Iran escalate. Strait of Hormuz Tensions The Strait of Hormuz has been at the center of rising tensions between the US and Iran, with Tehran nearly closing the waterway since the US-Israeli war on Iran began in late February. The closure has disrupted global energy supplies and raised fuel prices. Key Developments Trump and Xi had a 'good' meeting, agreeing that the Strait of Hormuz 'must remain open to support the free flow of energy'. China opposes the militarization of the strait and any effort to charge a toll for its use. A Chinese tanker transited through the strait on Wednesday, according to shipping data. Escalating Incidents A ship anchored off the United Arab Emirates was seized and taken toward Iran, while another vessel was attacked and sank in renewed escalation on shipping near the strait. Iran's Stance Iran's judiciary spokesperson Asghar Jahangir said the capture of 'US tankers' violating Iranian regulations was being carried out under domestic and international law. Iranian officials reiterated their stance that the waterway will be open for commercial vessels if they cooperate with Tehran's naval authorities. Future Outlook The US and Iran are no closer to agreeing to a peace deal, with Washington seeking Tehran's enriched uranium and Tehran wanting a lifting of sanctions and recognition of its sovereignty over the Strait of Hormuz.

The Diplomatic Opening in BeijingOne day into US President Donald Trump's visit to China for trade talks, both he and Chinese President Xi Jinping have exchanged toasts at a state banquet at the Great Hall of the People in Beijing, and hailed their relationship as the world's most "consequential". On Thursday, following a visit to the Temple of Heaven, a 600-year-old landmark in the Chinese capital, Xi spoke of a "shared US-China future", while also warning that failure to handle this bond would create a "very dangerous situation"."We must make it work and never mess it up," he said.The Personal Diplomacy Between LeadersThe US president described his Chinese counterpart as "my friend" in his opening remarks at the state banquet that Xi hosted for the American leader. "We are going to have a fantastic future together. I have such respect for China, for the job you've done. You are a great leader," he told Xi.Trump also invited Xi and First Lady Peng Liyuan to pay a return visit to the White House on September 24. For his part, the Chinese president said he was "very happy" to meet Trump in Beijing at a time of "historic turbulence" when "the world stands at a new crossroads".Xi posed a series of questions to the US president: "Can we join hands to address global challenges and inject greater stability into the world? Can we uphold the wellbeing of our respective peoples and the shared future of humanity, working together to create a bright future for our bilateral relationship?"China's reception underscored how highly Xi regards this visit. Trump was welcomed at the Great Hall of the People, the seat of power in China, "the equivalent of the White House and all other important centres of power combined". Additionally, Vice President Han Zheng greeted Trump at the airport when he landed in Beijing on Wednesday, making him the highest-ranking Chinese official to ever welcome a US president.Strategic Framework for Bilateral RelationsXi and Trump agreed to frame their relationship as "constructive, strategic and stable" in a new positioning that is intended to guide US-China ties for the next three years and beyond, according to a Chinese Foreign Ministry statement about talks between the two.Trump said the relationship between the two countries went back to the founding of the US, noting that the early American traders who visited China were described, by the Chinese, as "the new people". Today, he said, the two countries' bilateral ties were among "the most consequential" in the world.The Chinese president said the two countries should become partners, rather than rivals, adding that "mutual respect is key to stable China-US ties". "I have always believed that the common interests between China and the US outweigh the differences," Xi said. "Let 2026 be a historic and landmark year for Sino-US relations to carry on the past and open up the future."Trade and Economic NegotiationsTrump and Xi discussed trade, with Xi saying that China's door of opportunity will open wider. What this means is not explicitly clear yet, but Trump will be hoping it includes a Chinese pledge to buy US soya beans, beef and aircraft. Officials in the Trump administration also hope to move towards setting up a Board of Trade with China to manage commercial disputes between the two countries.Xi also met with US business leaders who have accompanied Trump on this trip on Thursday. The US and China entered a tariff threat standoff last year, with each side imposing retaliatory tariffs on each other's exports. China also restricted exports of some rare-earth metals, which are crucial for technology manufacturing, in April. Later in the year, it announced plans to restrict several others. Those later plans are on pause since a truce was agreed between the two presidents in October last year on the sidelines of the APEC summit in South Korea.In return for China's agreement to pause restrictions on rare-earth metal exports, Trump dropped a threat of 100 percent tariffs on Chinese goods.The Taiwan ChallengeThe Taiwanese government maintains that the self-governing island of 23 million people is a sovereign state. During the meeting on Thursday, Xi reportedly warned Trump that the issue of Taiwan – which China regards as its own territory – could lead to conflict between Washington and Beijing if it is not handled carefully.However, Taiwan was not mentioned in a joint statement following the meeting, and Trump notably ignored a question from reporters about his stance on Taiwan. This is a tricky issue for the US. While the US government officially acknowledges that China views Taiwan as part of its territory, it does not explicitly state whether or not it agrees with that stance.The US formally severed official diplomatic ties with Taiwan – also known as the Republic of China – decades ago, but remains committed under the 1979 Taiwan Relations Act to supporting the defence of the self-governing democracy. That law has enabled Washington to supply Taiwan with billions of dollars' worth of weapons and to deepen cooperation in areas such as military training and intelligence sharing, moves Beijing regards as meddling in its internal affairs.Xi has told Trump that the "Taiwan question is the most important issue in China-US relations", Chinese Foreign Ministry spokesperson Mao Ning posted on X on Thursday. "If it is handled properly, the bilateral relationship will enjoy overall stability. Otherwise, the two countries will have clashes and even conflicts, putting the entire relationship in great jeopardy," she wrote.Taiwan's Foreign Ministry released a statement saying that China is "currently the sole risk to regional peace and stability", after Xi warned Trump. "Beijing has no right to make any claims on behalf of Taiwan internationally," the statement added.Global Security CooperationThe US-Israel war on Iran, which entered its 76th day on Thursday, also came up in the meeting between Trump and Xi. In their joint statement, Trump and Xi agreed that the Strait of Hormuz must remain open and Iran should never have nuclear weapons.US officials have previously said that they might need China's help in convincing Iran to open the Strait of Hormuz. But analysts say Beijing will want concessions from the US, likely regarding Taiwan, in exchange for any aid in resolving the crisis.Future Outlook for US-China RelationsTrump and Xi may meet again on at least two other occasions this year – the Asia-Pacific Economic Cooperation (APEC) leaders' meeting, in Shenzhen, China, in November; and the Group of 20 (G20) summit in Miami, Florida in the US in December. It would be unprecedented for the US president to travel to China twice in one year.The tone set during these initial talks suggests both sides recognize the importance of managing their complex relationship carefully. Xi's warning about not "messing it up" indicates the high stakes involved, while Trump's personal approach and emphasis on friendship suggests he may be seeking a personal channel for diplomacy alongside official channels.As both nations navigate differences on trade, Taiwan, and global security issues, the framework they've established as "constructive, strategic and stable" will be tested in the coming months. The frequency of their planned meetings suggests both sides understand the need for constant communication to prevent misunderstandings that could escalate into conflict.

The Lead A new round of negotiations between Israel and Lebanon will take place on Thursday and Friday to save a fragile ceasefire – repeatedly ignored by Israel – which is set to expire on Saturday. The Event Details The process has deeply divided Lebanon, a country which does not recognise Israel, with President Joseph Aoun and Prime Minister Nawaf Salam supporting direct negotiations. Hezbollah and their allies, including Parliament Speaker Nabih Berri, prefer indirect talks. Some of the same officials who attended the previous negotiations will be at the third round – including the US ambassador to Israel Mike Huckabee – with diplomatic and military representation from both sides expected, according to Lebanese media. The Key Players Involved Lebanon is set to be led by Simon Karam, a Lebanese diplomat appointed by Aoun, while Lebanon’s ambassador to the US, Nada Hamadeh Moawad and Deputy Chief of Mission Wissam Boutros, who were both in previous meetings, will also likely attend. A new addition to the negotiators’ list will be Lebanon’s Military Attache to Washington, General Oliver Hakme. Israel’s ambassador to Washington, Yechiel Leiter, will be joined by Brigadier General Amichai Levin, head of the Israeli army’s Strategic Division, and Deputy Advisor to Israel’s National Security Council, Yossi Draznin. The Impact Analysis The country is divided over the prospect of direct negotiations, all the way up to the governmental level. “The country’s president, prime minister and speaker of parliament – all hailing from different religious sects according to Lebanon’s confessional system – cannot agree upon a framework, or even an ultimate objective to the talks,” Souhayb Jawhar, a Lebanese journalist and analyst, wrote for the Middle East Council on Global Affairs. Analysts say that ultimately, Israel is trying to use its power and influence in order to force Lebanon to bend towards its regional goals and interests. The Prediction Israel is expected to reject the proposal of a ceasefire as wants to continue attacks on Hezbollah assets in Lebanon, resulting in four children killed or injured a day since another ostensible truce was declared on April 16. It also seeks the disarmament of Hezbollah, while some Israeli officials are seeking the annexation of southern Lebanon.

Escalation of Israeli Airstrikes in Southern LebanonIsrael launched a series of air raids targeting the Ezzedine residential project in Srifa, killing two people. The Israeli army also announced attacks on alleged Hezbollah infrastructure across multiple southern towns and issued forced‑evacuation orders for Libbaya, Sahmar, Taffahata, Kafr Malek, Yohmor (Bekaa), Ain Tineh, Houmin al‑Fawqa and Mazraat Sina. Additional strikes hit a vocational school near Breqa and Zrarieh and the town of Ain al‑Tineh in the Western Bekaa. Casualties and Displacement Figures Since March2 civilians killed in the latest Srifa strike.1 person injured near the vocational school raid.At least 2,896 people killed in Israeli attacks since the conflict resumed in early March, according to Lebanon’s Ministry of Public Health.Multiple towns ordered to evacuate, displacing hundreds of residents. Implications for US‑Brokered Ceasefire NegotiationsThe intensified bombardment comes as representatives from Israel and Lebanon are slated to meet in Washington, D.C., to discuss extending a ceasefire set to expire on Sunday. Lebanese officials note that Hezbollah, which is not present at the talks, views any direct dialogue as capitulation. The heightened violence fuels domestic criticism in Lebanon and adds pressure on both sides to secure tangible concessions before the ceasefire deadline. Outlook for the Washington Talks and Regional StabilityAnalysts warn that if the current wave of strikes continues, the United States may face a tougher negotiating environment, with Hezbollah potentially rejecting any agreement that does not guarantee a full Israeli withdrawal and reconstruction. Conversely, sustained Israeli pressure could compel Lebanese authorities to concede to a limited ceasefire extension. The next few days will likely determine whether diplomatic engagement can outpace the escalating military dynamics.