Good morning from the Financial Times. Today is Thursday, June 3rd, and this is your FT News Briefing.

Grab your popcorn. AMC had another wild day on the stock market and cyber attacks are rattling the insurance industry and raising costs.

Plus, we'll look at Naomi Osaka's decision to walk away from the French Open and what it says about athletes and the media.

Ultimately, it speaks to Naomi's power. She's this popular new generation athlete who can sort of turn the world on its head.

I've marked Filipino and here's the news you need to start your day.

The latest ransomware attack is rippling into geopolitics. The world's largest meat processor, JBS, said a cyber attack on its North

American and Australian systems, disrupted animal slaughtering, and halted work for thousands of employees.

Now, the US suspects the hackers are a Russian criminal gang. So yesterday, the White House said, US President Joe Biden will

rebuke Russian President Vladimir Putin when the two leaders meet later this month.

The cyber heist is part of a surge in ransomware attacks that's also upending the insurance market.

The FT also reports that increasing severity and frequency of attacks is ratcheting up the cost of cyber insurance.

These are policies that reimburse companies for a lost business, ransom repayments, and data recovery costs.

Insurance are also becoming more vigilant about company controls and if a company has too little security, one

insurer said it might not provide coverage at all.

There was action and there was drama in the stock market yesterday and retail investors played a

starring role. One of their favorite chairs or meme stocks, as they're called, is in the US cinema

chain AMC. And yesterday, AMC decided to embrace individual investors and harness their enthusiasm.

It announced an offer of free popcorn to investors who signed up on a website.

And the share price won gangbusters. As the FT's US investment reporter Madison Darby Shire, she says

retail or amateur individual investors are really important to AMC. They own 80% of the company shares.

And AMC doesn't just want them to buy stock. And by offering popcorn as an incentivizer,

they're really trying to harness this new and expanded amount of retail investors that are

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