Financial Times Highlights: Energy, Media, and Luxury Racing

Top stories in the Financial Times include TotalEnergies' UK investment threats over the windfall tax, GB News' legal action against Ofcom, LVMH's sponsorship of Formula 1, and the EU's delay of anti-deforestation laws due to trading partner concerns.

TotalEnergies, a leading French oil and gas company, has announced potential investment curbs in the UK, warning of a restructuring of North Sea operations if the UK government moves forward with a windfall tax increase.

GB News, facing regulatory pressure, is challenging the broadcasting watchdog Ofcom in court to prevent sanctions over alleged UK broadcasting code violations, intensifying the ongoing battle in the media landscape.

In a strategic move, luxury goods titan LVMH has inked a sponsorship deal with Formula 1, expanding its influence in the sports sector. Meanwhile, the European Commission plans to delay the implementation of new anti-deforestation rules following apprehensions from trading partners.

(With inputs from agencies.)