Posts

Showing posts from October, 2023

Demis Hassabis: AI must not 'move fast and break things'

Google Deepmind co-founder Demis Hassabis said the AI industry should not adopt the Silicon Valley mantra. from BBC News - Business https://ift.tt/YTPdkCa

'We failed - why our dream eco-business collapsed'

With a big rise in the number of firms going bust, we speak to one couple about why their business folded. from BBC News - Business https://ift.tt/XR0gCIY

Temu adverts banned for sexualising a child and objectifying women

The UK's advertising regulator upheld complaints about five of the online shop's adverts. from BBC News - Business https://ift.tt/Sw9y5i1

CEO Secrets: ‘Pumpkins saved my business but almost squashed me’

Kim Innes founded Humble Crumble, a crumble bakery that’s sold more than half a million sweet treats. from BBC News - Business https://ift.tt/jqDEvcb

Would you drink genetically modified beer?

A growing number of US brewers are now using GM yeast to make their beers. from BBC News - Business https://ift.tt/mDWpCgs

World Bank warns oil prices could reach $150 a barrel

A prolonged conflict in the Middle East would lead to much higher energy prices, the global institution predicts from BBC News - Business https://ift.tt/tTOHB4Z

Court gives Evergrande one last chance to agree debt deal

A judge said the company faces being wound up if it does not come up with a plan by 4 December. from BBC News - Business https://ift.tt/5t4goeF

Petrol retailers should cut price by 5p a litre, RAC says

The motoring body says major fuel retailers should reduce prices to reflect lower wholesale costs. from BBC News - Business https://ift.tt/M1NEAQt

Leasehold law will be in King's Speech, says housing minister

Rachel MacLean says the bill would restore "true homeownership" but Labour says it is "thin gruel". from BBC News - Business https://ift.tt/2Zthioq

Fewer trains to run from London to Manchester

Avanti is to run a reduced service between London to Manchester on Saturdays until the end of the year. from BBC News - Business https://ift.tt/wDuqKm9

Can Rishi Sunak’s big summit save us from AI nightmare?

The BBC's tech editor, Zoe Kleinman, looks ahead to next week's AI Safety Summit, hosted by the UK. from BBC News - Business https://ift.tt/jQfDxaE

Sale of NHS data up to government, says tech boss

The head of Palantir, which is in the running for an NHS contract, says it would not have access to data. from BBC News - Business https://ift.tt/HFfTMuU

UAW strike: Stellantis and union agree pay rise in tentative deal

Stellantis becomes the second US car giant to strike a tentative deal with the United Auto Workers union. from BBC News - Business https://ift.tt/aGmKoS3

China economic reformer Li Keqiang dies at 68

Li Keqiang, once the second most powerful man in China, suffered a sudden heart attack, state media said. from BBC News - Business https://ift.tt/TAXzqae

After a year of Elon Musk, what's next for X?

How the billionaire's purchase of Twitter has changed the platform and what the future may hold. from BBC News - Business https://ift.tt/fRqQmb3

How does China fix the Evergrande mess?

The heavily indebted company has become the poster child of the country's flailing property sector. from BBC News - Business https://ift.tt/R60o5Kn

Student maintenance loans almost entirely used up by rent, report warns

The average cost of university accommodation in England is almost level with the average maintenance loan. from BBC News - Business https://ift.tt/xLkr7wl

AI could worsen cyber-threats, report warns

By 2025 AI could increase cyber-attack risk, and help plan physical attacks, report warns. from BBC News - Business https://ift.tt/i5QaPqz

Watchdog: Ex-NatWest boss breached Nigel Farage's privacy

Former Natwest boss Alison Rose should not have shared information on Nigel Farage, watchdog says. from BBC News - Business https://ift.tt/K5x6jQB

US orders immediate halt to some AI chip exports to China, Nvidia says

The new export rules were due to start in November, but Nvidia says the US sped up their introduction. from BBC News - Business https://ift.tt/ZVyoiRN

Rural buses: Councils opt for 'on-demand' services in face of cuts

Councils said they could not offer a like-for-like replacement for commercial services that have faced cuts. from BBC News - Business https://ift.tt/TnQMeso

Paedophiles using AI to turn singers and film stars into kids

Charity finds dark web forums sharing thousands of new abuse images made with bespoke AI software. from BBC News - Business https://ift.tt/bXGC8kO

Big banks linked to products with pangolin parts

The companies include UK multinationals such as HSBC, Prudential, and Legal & General. from BBC News - Business https://ift.tt/dZzwabs

Job figures show signs of labour market weakening

The trend suggests businesses are feeling the impact of rising prices and high interest rates. from BBC News - Business https://ift.tt/coNXv65

World shift to clean energy is unstoppable, IEA report says

The world is shifting rapidly to clean energy but still investing too much in fossil fuels, the IEA says. from BBC News - Business https://ift.tt/8U1sR70

Short selling: Don’t be the 'Dumb Money'

Short selling can be risky, but more and more amateur investors are taking it up. from BBC News - Business https://ift.tt/SdXxh6L

Workers on voluntary Real Living Wage see 10% pay rise

The increase in the voluntary pay scheme will benefit more than 460,000 UK workers. from BBC News - Business https://ift.tt/1ayNlVP

Tax cuts will be considered if inflation falls, cabinet minister says

Robert Jenrick says PM Rishi Sunak has the "right priorities" despite his party's by-election losses. from BBC News - Business https://ift.tt/Cb0ZPi8

Does the paper industry need to cut its water usage?

Firms in the sector are using new technologies to reduce the amount of water they require. from BBC News - Business https://ift.tt/21JVRvb

Foxconn: iPhone-maker investigated by Chinese authorities

Chinese state media reports some of the Taiwan-based firm's mainland operations are being investigated. from BBC News - Business https://ift.tt/2vYEOX6

Autumn statement: Government considers help for first-time buyers

The Treasury is understood to be considering extending a low deposit mortgage scheme for a year. from BBC News - Business https://ift.tt/TUGswga

'My business had £1.6m stolen in 20 minutes'

An employee at Steve Wright's firm was tricked into giving thieves access to the company account. from BBC News - Business https://ift.tt/cKM1s2J

Moody's drops negative outlook on UK credit rating

Ratings agency says "predictability has been restored" following last year's mini-Budget. from BBC News - Business https://ift.tt/ELxot7r

Government borrows less than expected in September

Public borrowing was £14.3bn last month, lower than most economists had anticipated. from BBC News - Business https://ift.tt/YHz9V4f

Is AI about to transform the legal profession?

Law firms are increasingly using artificial intelligence systems, but it comes with risks. from BBC News - Business https://ift.tt/tIBK3Zf

Amazon launches humanoid robots to 'free up' staff

The US tech giant is looking at ways it can automate more of its operations. from BBC News - Business https://ift.tt/6wduWa5

BYD: The top electric car maker that is not Tesla

Chinese auto giant BYD is now ahead of Tesla in quarterly production - and second to it in global sales. from BBC News - Business https://ift.tt/XAefwmE

Britishvolt aims to supply batteries to Australian military

New owner, Recharge, hopes to close a deal on the Northumberland site, paving the way to make batteries for export. from BBC News - Business https://ift.tt/UE6AzQb

Irish baby milk factory to close as China birth rate drops

The closure of the plant in Askeaton, County Limerick, will mean more than 500 job losses. from BBC News - Business https://ift.tt/iw63QX8

Pause HS2 land sale, says government big projects adviser

Sir John Armitt tells the BBC the decision to sell the property is a "mistake". from BBC News - Business https://ift.tt/M1pG3LX

Twitter glitch allows CIA informant channel to be hijacked

US spies and informants could have been directed to hostile nations through a CIA mistake made on X. from BBC News - Business https://ift.tt/yAU8vl0

The incredible power of blue LEDs

LEDs dominate lighting systems but their efficiency rests on the tricky production of blue light. from BBC News - Business https://ift.tt/shgIZfS

AirAsia boss Tony Fernandes criticised for half-naked massage photo

Tony Fernandes shared a picture of himself attending a meeting while getting a massage. from BBC News - Business https://ift.tt/Kl1fOrH

No room for tax cuts or spending rises, IFS think tank warns

The think tank warns that "ill-timed" pre election tax cuts could prove "unsustainable". from BBC News - Business https://ift.tt/XEDnjme

French hotel spent €1,500 getting rid of bedbugs

It's crucial to catch a bedbug outbreak early, and firms are turning to tech to achieve this. from BBC News - Business https://ift.tt/uaUj4vH

German chancellor Olaf Scholz could snub British AI summit

The BBC understands the German chancellor may turn down his invitation to the event on 1 November. from BBC News - Business https://ift.tt/m6dhfDZ

Will Sam Bankman-Fried take the stand to save himself?

A long prison sentence hangs over him so the former crypto tycoon may take a gamble and testify. from BBC News - Business https://ift.tt/KRmbYQv

Ten former Tuffnells depots reopen after rescue deal

A total of 12 former Tuffnells delivery depots are back up and running. from BBC News - Business https://ift.tt/Wb32LZo

Australia fines X for failing to crack down on child abuse content

It comes as X's owner Elon Musk had earlier called child safety his number one priority. from BBC News - Business https://ift.tt/xlNWtoV

Charities 'concerned' over lack of progress with Renters Reform Bill

Thirty charities have warned Rishi Sunak not to abandon the bill banning no-fault evictions. from BBC News - Business https://ift.tt/f5Yv9Pp

TikTok says action taken on Israel conflict videos

The social media firm lists what it is doing to tackle misinformation after a warning by the EU. from BBC News - Business https://ift.tt/L10Hxhf

Electric cars drive UK MG sales to more than £1bn

The car maker, owned by a Chinese state-controlled company, says it is in a "very strong position". from BBC News - Business https://ift.tt/gV8CGev

Manchester United: Qatar's Sheikh Jassim withdraws from process to buy club

Qatari banker Sheikh Jassim bin Hamad Al Thani withdraws from the process to buy Manchester United. from BBC News - Business https://ift.tt/um5LqOa

What does TikTok's EGX sponsorship mean for the games industry?

The app's hoping to take on Twitch and YouTube to become the main stop for online video games content. from BBC News - Business https://ift.tt/n2vgYps

Brexit: 'Call us' on trade, says German finance minister Christian Lindner

In a BBC interview, Christian Lindner invites the UK to discuss a closer relationship with the EU. from BBC News - Business https://ift.tt/5JKh1q9

Microsoft Activision: What does deal mean for gamers?

Call of Duty might be an Xbox exclusive one day, but not for at least 15 years. from BBC News - Business https://ift.tt/tSP65zn

Next confirms takeover of Fatface in £115m deal

The retailer has added the clothing chain to the growing list of High Street names it has bought. from BBC News - Business https://ift.tt/RCLN5gl

UK probes using frozen Russian assets for Ukraine defence

Chancellor Jeremy Hunt says "we need to do everything we can" to disrupt Russia's ability to fund the war. from BBC News - Business https://ift.tt/M5Pv9Xt

EU opens investigation into X over alleged disinformation

X, formerly Twitter, is being investigated over the possible spread of terrorist and violent content. from BBC News - Business https://ift.tt/ukAEfHb

UAW auto strike: 8,700 Ford workers in Kentucky down tools

The move is a sharp escalation of the union's ongoing strike against Ford, General Motors and Stellantis. from BBC News - Business https://ift.tt/mMKCAWE

Schools and NHS caterers ‘must stop’ antibiotic overuse

Health and animal welfare campaigners say the overuse of antibiotics by UK farmers should be banned. from BBC News - Business https://ift.tt/EQlAvLb

World Bank criticises UK for cutting aid to poorest

The World Bank says cuts to foreign aid are being felt at a time of higher poverty levels. from BBC News - Business https://ift.tt/9wRXDAP

Nearly half a billion small tech items thrown away

Electrical items such as vapes, fans, cables and USB sticks can all be recycled from BBC News - Business https://ift.tt/NCUdOpP

Safe Hands: Fraud inquiry launched into collapsed funeral firm

Safe Hands went into administration last year with thousands of people likely to lose money they set aside. from BBC News - Business https://ift.tt/0kMqeNG

Jewish parents told to delete social media apps

Some schools have suggested parents delete apps such as TikTok and Instagram due to the violent content circulating. from BBC News - Business https://ift.tt/MIoAjhz

British Airways suspends Israel flights after plane U-turns

A BA flight was diverted back to the UK amid security concerns, not long before it was due to land. from BBC News - Business https://ift.tt/5Qe6L1y

Next set to buy rival brand Fat Face in latest High Street buy

High Street chain Next is understood to be close to buying rival fashion chain Fat Face. from BBC News - Business https://ift.tt/OCMmLkh

EU warns Elon Musk 'disinformation' is spreading on X after Hamas attack

The EU has written to Elon Musk warning him that the platform is being used to spread illegal content. from BBC News - Business https://ift.tt/wryEjJf

Clubs promoting NFTs pose 'risk' to fans, MPs warn

A committee of MPs say artists and sport clubs' reputations are at risk if they promote NFTs. from BBC News - Business https://ift.tt/VjAbB8s

Warm weather delays early Christmas food sales

The unusually mild weather has led to fewer people buying Christmas puddings and seasonal biscuits. from BBC News - Business https://ift.tt/LmlMKSV

Technology festival's sock that detect Alzheimer's signs

The socks, which can detect the early signs of the condition, are among innovations on show in Bristol. from BBC News - Business https://ift.tt/Sv5PgCx

IMF says UK faces five more years of high interest rates

The UK is expected to have the highest inflation of the US, France, Germany, Canada, Italy and Japan. from BBC News - Business https://ift.tt/CygGrQK

Metro Bank has a limited future, claims co-founder

Anthony Thomson says the bank's strategy of continuing to focus on High Street branches is "flawed". from BBC News - Business https://ift.tt/zkRZOMi

'I pawned my wedding rings for £200 to pay my bills'

The use of pawnbrokers went up by 25% in a year during the cost of living crisis, figures suggest. from BBC News - Business https://ift.tt/zPSXrRZ

California requires companies to report carbon emissions

Big companies like Apple will have to state how much climate-warming carbon they put in the air. from BBC News - Business https://ift.tt/D4CA2Fs

The hunt for a new way to tackle clothing waste

Scientists in the US are trying to find enzymes or bacteria that will decompose manmade fibres. from BBC News - Business https://ift.tt/WZ7Qfk3

Nobel economics prize awarded to Claudia Goldin for work on gender pay gap

American Claudia Goldin is only the third woman to receive the prestigious economics prize. from BBC News - Business https://ift.tt/GaFvI5D

My landlord wanted to put the rent up 35% despite cap

Catherine Sheldon says she is now having to leave the property, with nowhere else to go that she can afford. from BBC News - Business https://ift.tt/6wqs5R3

Oil prices rally on fear of Middle East supply disruptions

West Texas Intermediate and Brent crude prices jumped by 4% in Asian trading. from BBC News - Business https://ift.tt/DwK53mZ

Labour's Rachel Reeves to set out plan to recover Covid fraud billions

An anti-corruption commissioner would target £7.2bn lost to fraud, the shadow chancellor will say. from BBC News - Business https://ift.tt/qByDXU9

Metro Bank strikes deal to shore up balance sheet

A £325m cash injection, as well as refinancing £600m of debt, will enable it to keep expanding, it says. from BBC News - Business https://ift.tt/xeXBV6t

Nevada lithium mine leads to 'green colonialism' accusations

The rush to mine lithium for car batteries is dividing environmental and native American communities. from BBC News - Business https://ift.tt/5seFMfr

Wilko: End of a fabulous ride for shop that sold it all

Workers and shoppers tell us what they'll miss about the brand as the final stores close. from BBC News - Business https://ift.tt/mJgdqCa

Car workers strike not expanded as concession made

The United Auto Workers union will continue action but says it is making progress with firms. from BBC News - Business https://ift.tt/5zAxapY

US jobs growth much faster than expected

The number of jobs added to the US economy last month was almost double the amount forecast. from BBC News - Business https://ift.tt/iPrQ3To

What's going on at Metro Bank?

Bosses say there are no concerns about its finances after reports it was looking to raise millions. from BBC News - Business https://ift.tt/QfWOjJR

Evergrande: The rise and fall of the property giant's billionaire founder

Hui Ka Yan, the founder of a crisis-hit Chinese property giant, is under police surveillance. from BBC News - Business https://ift.tt/Uexb61V

How Ghana's central bank lost $5bn in one year

The country's economic crisis has sparked protests and led to calls for the bank's boss to resign. from BBC News - Business https://ift.tt/F2egR3v

Taylor Swift tour film tops $100m in advance ticket sales

The film of the Eras tour is due to be released in cinemas in more than 100 countries next Friday. from BBC News - Business https://ift.tt/bIPXhWs

HS2 will not go to Euston without private funds

The government has scaled back plans for Euston station and is hoping for private investment. from BBC News - Business https://ift.tt/SFerBab

South East water firms have highest complaint rates - report

Southern Water is the most complained about provider in the country, with Thames Water second. from BBC News - Business https://ift.tt/9eBvUy5

Electric car sales to private buyers fall sharply

No incentives for consumers to buy electric has affected sales, but overall the car market is growing. from BBC News - Business https://ift.tt/OkIjdDn

HS2: No new compensation for 'pain' of people affected by scrapped rail route

There will be no new money for displaced people and firms along the scrapped route, the government says. from BBC News - Business https://ift.tt/yrYn9b3

Metro Bank shares plunge on fund raising reports

The bank's shares plunged 23% in early trading, after several newspapers reported it needed to raise £600m. from BBC News - Business https://ift.tt/kNTuF63

Amazon and Microsoft to face cloud computing competition probe

The competition watchdog is investigating the tech giants' cloud computing dominance. from BBC News - Business https://ift.tt/pvSJknc

Right to own a car in Singapore can cost £87,000

The city-state introduced a 10-year certificate of entitlement system in 1990 as an anti-congestion measure. from BBC News - Business https://ift.tt/GdMnpu7

Renting: Average home now has 25 tenants wanting to view

When a property goes up for rent there are typically 25 people competing for a viewing, Rightmove says. from BBC News - Business https://ift.tt/on8MLwS

Sam Bankman-Fried's FTX crypto fraud trial opens in NY

The former crypto billionaire is accused of "one of the biggest financial frauds in US history". from BBC News - Business https://ift.tt/hErKdaH

MrBeast and BBC stars used in deepfake scam videos

Fraudsters have manipulated images of the popular YouTuber and two journalists to dupe viewers. from BBC News - Business https://ift.tt/mj8R5lp

HS2 West Midlands-Manchester line to be scrapped

Rishi Sunak is expected to set out alternative projects in his Conservative Party conference speech. from BBC News - Business https://ift.tt/Z78o3fm

Tesco doing all it can to lower prices, boss says

The pace of price rises will continue to ease this year, says chief of UK's biggest supermarket. from BBC News - Business https://ift.tt/anw0Od3

TikTok: Social media app halts online shopping service in Indonesia

The country's government banned social media platforms from selling goods to protect physical stores. from BBC News - Business https://ift.tt/ADSCyk3

Petrol prices rise for fourth month in a row - RAC

The RAC claims drivers are being overcharged for petrol but retailers say they have higher costs. from BBC News - Business https://ift.tt/R7e5Z23

Sam Bankman-Fried: Trial of 'Crypto King' begins

The former crypto billionaire is accused of "one of the biggest financial frauds in US history". from BBC News - Business https://ift.tt/EpX1Lbg

Abercrombie & Fitch launches investigation into ex-CEO sexual misconduct claims

It comes after a BBC investigation reported allegations that Mike Jeffries exploited men for sex at events he hosted. from BBC News - Business https://ift.tt/cKSuLO0

Easy life: Band says easyJet owner suing over name

Easy life says they are "certain" it has never affected the easyGroup's business. from BBC News - Business https://ift.tt/a0u1PyX

Greggs says sales up by more than fifth in latest quarter

The chain, which opened its first shop in 1951, has opened 144 new stores in the last year. from BBC News - Business https://ift.tt/fOY1rJX

Evergrande: Shares in crisis-hit property giant jump in market return

The embattled Chinese property giant's shares were suspended from trading on Thursday. from BBC News - Business https://ift.tt/Hth8ZpI

Defiant Trump turns up at $250m New York fraud trial to blast 'scam'

The ex-president lambasts a case that could see him lose control of Trump Tower and other properties. from BBC News - Business https://ift.tt/EVdQLuY

House buyers look to adapt to higher mortgage rates

House prices fall but some young buyers are considering smaller homes and longer-term loans, surveys suggest. from BBC News - Business https://ift.tt/1Nv2quo

John Lewis boss Dame Sharon White to step down after five years

Dame Sharon White will leave at the end of her term, make her the shortest-serving chair in the retailer's history. from BBC News - Business https://ift.tt/k1CQRrU

China Belt and Road: Indonesia opens Whoosh high-speed railway

The project under Belt and Road links the capital Jakarta with the economic hub of Bandung. from BBC News - Business https://ift.tt/6loHcbd

Jeremy Hunt to confirm national living wage to rise to £11 an hour

The move will affect two million of the lowest-paid workers, the chancellor will tell the Tory conference. from BBC News - Business https://ift.tt/3QHU1GJ

Golden Week: Budget travel takes off in China

A sluggish economy forces young Chinese to travel cheaply for this year's holiday. from BBC News - Business https://ift.tt/gWvGIcL

Aukus: UK defence giant BAE Systems wins £3.95bn submarine contract

The deal will provide decades of work at BAE Systems' shipyard in Barrow-in-Furness, Cumbria. from BBC News - Business https://ift.tt/pvc073M

Water bills may rise if Ofwat approves new plans

Water companies want to invest £96bn in ambitious project that will see bills rise for customers from BBC News - Business https://ift.tt/VALgWfJ

First class stamp price rises to £1.25

The price rise comes as Royal Mail seeks to cover higher delivery costs while letter numbers fall. from BBC News - Business https://ift.tt/8y5LNMI

Rishi Sunak refuses to commit to pre-election tax cuts

The PM says his focus is easing living costs, amid Tory unrest on day one of the party's conference. from BBC News - Business https://ift.tt/QZYaGM9

HS2: Rishi Sunak refuses to commit to Manchester link

The prime minister again refuses to say if high speed rail link will run from Birmingham to Manchester. from BBC News - Business https://ift.tt/4OWmJyb

Iceland boss quits Tories labelling party 'out of touch'

Richard Walker had tried to become a Tory MP but has quit the party on the eve of the annual conference. from BBC News - Business https://ift.tt/Pct3Rym