Breaking News: Major Developments in Business, Solar Energy, and Tech

Top stories from the Financial Times include Rheinmetall's revenue shortfall, EU's funding block on Chinese solar parts, Elon Musk's SEC settlement, and Peter Thiel's investment in a wave-powered data centre. These events highlight significant shifts in finance, technology, and international trade.

In today's top stories from the Financial Times, Rheinmetall, a German arms manufacturer, reported a disappointing first-quarter revenue, falling short of expectations despite increased European defense budgets. This highlights ongoing challenges in translating budget boosts into actual profits.

Meanwhile, the European Union has made a significant move by blocking public funds for key Chinese technology providers in the solar energy sector, citing security concerns. This decision could have substantial implications for the solar energy industry and international trade relations.

In other news, Elon Musk's trust has agreed to a $1.5 million settlement to resolve an SEC lawsuit over non-disclosure of Twitter stakes, a fraction of the alleged gains. Additionally, tech entrepreneur Peter Thiel is backing a $140 million investment in Panthalassa, a venture aiming to innovate floating data centers powered by wave energy.