Category: Business

Lisa Cook says growing prevalence of so-called basis trades makes markets ‘more vulnerable to stress’ Source link

Law enforcement agency raids two sites in West Yorkshire and London as it appeals for information The Serious Fraud Office (SFO) has arrested two men as it launched an investigation into a suspected £20m cryptocurrency fraud. The law enforcement agency raided two sites in West Yorkshire and London as it appealed for information about $28m (£21.4m) invested into a cryptocurrency scheme called Basis Markets. Continue reading… Source link

The private capital firm has cancelled a planned merger between two affiliates that lend to middle-market companies Source link

Lack of spare cash among under-25s feeds slide in sales with annual profits to be at lower end of expectations Unemployment among young people in the UK is hitting sales growth and profits at JD Sports, the owner of the trainer and sportwear chain has said, amid warnings about the high number of under-25s not in work, education or training. The UK was the worst-performing market for JD Group, which also owns Blacks, Go Outdoors and a number of US and European sports chains. Continue reading… Source link

US media group shocks sports rights market with European football push Source link

We want to hear people’s experiences with the rise of ‘warm spaces’ in the UK Bitter Arctic air has swept across the UK this month, causing winter to arrive early for millions of people, with temperatures in some places plunging below zero. On 1 October the energy price cap rose 2% to £1,755 for a typical annual dual-fuel bill in Great Britain. That was on top of existing debt to energy suppliers of £4.4bn in June, according to Ofgem – which should “ring alarm bells” for lawmakers, said a coordinator at the End Fuel Poverty Coalition. Continue reading… Source…

Despite record expansion and growing ambition in the continent, the US is surging ahead again Source link

Proposed changes to AI Act would make it easier for tech firms to use personal data to train models without consent The European Commission has been accused of “a massive rollback” of the EU’s digital rules after announcing proposals to delay central parts of the Artificial Intelligence Act and water down its landmark data protection regulation. If agreed, the changes would make it easier for tech firms to use personal data to train AI models without asking for consent, and try to end “cookie banner fatigue” by reducing the number times internet users have to give their permission to…

Just asking Source link

Proposed legal case understood to allege that app has breached data protection law varying driver pay rates Uber has been hit with legal demands to stop using its artificial intelligence driven pay systems, which have been blamed for significantly reducing the incomes of the ride hailing app’s drivers. A letter before action – sent to the US company by the non-profit foundation, Worker Info Exchange (WIE), on Wednesday – is understood to allege that the ride hailing app has breached European data protection law by varying driver pay rates through its controversial algorithm. Continue reading… Source link

It turns out that some people prefer AI interviewers and medical advice from chatbots Source link

Government has officially announced ban on reselling for profit, described by minister as ‘no-brainer’ Last May, in a dimly lit basement beneath London’s South Bank, the UK’s most prolific ticket touts gathered to discuss Labour’s plan to effectively put them out of business. One seasoned ticket “trader” pleaded with colleagues to help fund a war chest to lobby against the party’s election manifesto pledge to ban reselling tickets for profit. Continue reading… Source link

Recent breakthroughs in developing methane pyrolysis are a sign the fuel will have a role in decarbonising industry Source link

Students at the University of Staffordshire have said they feel ‘robbed’ after a course they hoped would launch their digital careers turned out to be taught in large part by AI. A recorded meeting shows student James confronting a lecturer about using slides generated by AI to teach a coding module. ‘I do not want to be taught by GPT,’ said the student. This year, the university uploaded a policy statement to the course website appearing to justify the use of AI, laying out ‘a framework for academic professionals leveraging AI automation’ in scholarly work and teaching ‘We could…

US multinational cites Nasdaq’s ‘technology-forward’ approach as reason for moving listing Source link

Could you keep the markets calm and your MPs happy as you pull the economic levers to deliver a budget? On 26 November, Rachel Reeves will deliver this year’s budget to parliament. As in all years, the chancellor has to strike a balance between: Raising the money needed to fund the services that voters demand. Keeping taxes at levels that are acceptable to voters. Persuading the government’s creditors in the bond markets that it will continue to be able to pay its debts. Continue reading… Source link

Xi Jinping’s government is seeking to create bigger financial players Source link

One reader reveals that a man she trusted to make investments for her in bitcoin vanished with her money, in response to an article on romance scams Re your article (‘I opened up like a giant elevator’: the seven sly, savage stages of a £100,000 romance scam, 11 November), in January 2017 I met a man who was both charming and entertaining. He knew all about bitcoin cryptocurrency and told me why I should invest in it. In fact, he said: “I will add you to my portfolio, then you will get more for your investment because wealthy people…

Deteriorating, Bob! Source link

After Republicans were trounced in this month’s votes, the administration has launched a slapdash, ill-conceived campaign When running for president last year, Donald Trump wooed and wowed voters by vowing to reduce prices “starting on day one”. But once he was inaugurated, he seemed to pay precious little attention to prices and affordability. All that changed, however, when inflation-weary voters thrashed Trump and the GOP on election day this month – within days, the Trump administration launched a slapdash effort to focus on affordability. Unfortunately, the campaign is a hot mess: a pile of absurdity, contradictions, magical thinking, scapegoating…

Shoemaker and three of its employees targeted by prosecutors in latest case against Italian luxury industry Source link

Senior officials indicated favorability toward Paramount Skydance to acquire Warner Bros Discovery Senior White House officials have discussed internally their preference for Paramount Skydance to acquire Warner Bros Discovery in recent weeks, and one official has discussed potential programming changes at CNN with Larry Ellison, the largest shareholder of Paramount. The discussions, according to people familiar with the matter, comes as Paramount portrays itself as the best bid for Warner Bros Discovery, after it announced last month it was open to offers, because it would have an easier time getting through regulatory review. Continue reading… Source link

The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times Source link

Organisers claimed proposed ban on reselling tickets for more than face value would dent investment in facilities Business live – latest updates Wimbledon will be given an exemption from the clampdown on ticket resales for its “debenture” tickets, in what would be a victory for the organisers of the annual tennis tournament. The championship organisers, the All England Lawn Tennis Club (AELTC), had previously said ministers’ proposed ban on reselling tickets for more than face value would prevent it from being able to reinvest debenture proceeds in maintenance of its facilities. Continue reading… Source link

Also in today’s newsletter, the battle for control of Warner Bros Discovery, and the year’s best fiction Source link

Lords say culture department has mishandled process and suggest CMA or Cabinet Office oversee new auction The government has been urged to take control of the sale of the Telegraph through an auction run by a body such as the UK competition regulator or the Cabinet Office. Peers called on the culture secretary, Lisa Nandy, to wrest the sale process from RedBird IMI, which is majority funded by the United Arab Emirates, in questions put to Labour minister Fiona Twycross in the House of Lords on Wednesday. Continue reading… Source link

Lendlease and Canada’s biggest pension fund consider offloading 900 apartments in Elephant Park development Source link

Officials are reportedly taking their time on US president’s long-promised chips plan to avoid a rupture with China US officials are privately saying that they might not levy long-promised semiconductor tariffs soon, potentially delaying a centerpiece of Donald Trump’s economic agenda. Officials relayed these messages over the last several days to stakeholders in the government and private industry, according to two people with direct knowledge of the matter and a third person briefed on the conversations. A fourth person following the matter also said the administration was taking a more cautious approach to avoid provoking China. The discussions have…

Markets climb as chipmaker shrugs off bubble concerns Source link

Plans for 39 grass courts were given approval in 2024 Pressure has led to judicial review of that decision Wimbledon’s battle to build 39 new grass courts on a nearby golf course has taken a fresh twist after local residents were granted permission to take a judicial review case to the court of appeal. Last year the All England Club (AELTC) was given approval by Jules Pipe, the London deputy mayor for planning and regeneration, to build the courts on what used to be Wimbledon Park Golf Club – a decision that was then endorsed in the high court…

Increased capital target and €1.15bn share buyback plan comes after setbacks from US litigation Source link

The benchmark index hit a record in October but then quickly shed about 7%. And despite a Nvidia-fuelled tech rally, Australia isn’t out of the woods yet Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Global share markets – including in Australia – were plunging before the world’s biggest company, US chip maker Nvidia, reported a soaring profit and upbeat outlook, soothing jittery traders. Yet the results will spark further discussion on whether the market optimism around artificial intelligence is justified. But is it a bubble getting…

Eurotunnel said expected tripling of levy makes planned freight investments untenable Source link

Exclusive: Trade agreement means UK is subject to some food labelling rules, with vote on vegetarian food terms this week Calling plant-based food veggie “burgers” or “sausages” may be banned in the UK under the new trade agreement with the EU, the Guardian understands. The Labour government secured a new sanitary and phytosanitary (SPS) agreement with the EU earlier this year, which allows British businesses to sell products including some burgers and sausages in the EU for the first time since Brexit. Continue reading… Source link

Regulator asks UK broadcaster if misleading ‘Panorama’ clip was aired in US Source link

Imposing a 1% levy on the super-rich isn’t a policy, it’s pantomime. Tackling inequality in Britain will require much more far-reaching changes By this time next week you will be digesting the budget, you lucky thing. Yet even before Rachel Reeves has commended a single damn thing to the house, her efforts have been written off as a “shambles”, from a “chaotic” government that is Labour in name alone. Which begs the question: what is the leftwing alternative? Because there is one, on which agreement stretches from Labour backbenchers to many of their opponent MPs and far beyond. Whether…

Wording used by Michael Prescott was itself an edit of Trump’s actual words Source link

Where better to source what you need for the season than the places with a reputation for making it? From fizz and food to fine art, here’s our festive shopping guide Stock up on festive fizz with a trip to the heart of Kent’s flourishing wine region. Start the tastings at Simpsons’ wine estate, 10 minutes’ drive from Canterbury, then head to Domaine Evremond, Taittinger’s UK vineyard, where its first release, Classic Cuvée Edition I, is available at the Cellar Door shop. Nearby, the medieval village of Chilham makes an ideal stop for lunch at the Woolpack Inn. Back…

Singapore’s slung Source link

Lisa Brankin says new levies could discourage switch to EVs amid reports chancellor mulling pay-per-mile charge Business live – latest updates The boss of Ford UK has warned Rachel Reeves against increasing taxes on electric vehicles in next week’s budget, saying it could discourage drivers from making the switch away from petrol and diesel cars. Lisa Brankin, the managing director of Ford UK, said it was “certainly not the right time” to introduce new levies on EVs, amid reports that the chancellor could implement a new pay-per-mile charge on electric vehicles (EVs) from 2028. Continue reading… Source link