Rolling coverage of the latest economic and financial newsIn the insurance world, Zurich appears to have won its battle to aquire smaller rival Beazley after increasing its offer price.The two companies have told the City this morning they’ve reached “agreement in principle” on the key financial terms of a possible recommended cash offer, which values Beazley at £8bn.“There’s this notion that the tool in the software industry is in decline, and will be replaced by AI … It is the most illogical thing in the world, and time will prove itself,”“If you were a human or robot, artificial, general robotics, would you use tools or reinvent tools? The answer, obviously, is to use tools … That’s why the latest breakthroughs in AI are about tool use, because the tools are designed to be explicit.” Continue reading…