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The outlook gets better and better at Rolls-Royce

With fingers in various highly lucrative pies, maybe the firm becoming LSE’s most valuable isn’t as fanciful as it seems Tufan Erginbilgiç, the chief executive of Rolls-Royce, seemed to be getting ahead himself when he said a year ago that the engine-maker had the potential to become the most valuable company on the London Stock […]

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Crackdown on claims companies sending spam car finance texts

Officials raided homes and businesses and seized laptops, phones and paperwork in clampdown on nuisance firmsLaptops, mobile phones and documents have been seized after officials carried out search warrants in a crackdown on claims companies plaguing people with spam text messages about the car finance mis-selling scandal.On Wednesday the UK’s Information Commissioner’s Office (ICO) executed

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Lloyds Bank to cut £2bn in costs as part of AI-powered strategy

Chief executive says the four-year plan will lead to greater efficiency but gives no details of potential job lossesBusiness live – latest updatesLloyds Banking Group will cut another £2bn of costs as part of a four-year plan under which its chief executive will use new tech and AI to drive growth.Charlie Nunn said the strategy,

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Meta misses earnings forecasts after Zuckerberg media push to promote AI

Stock tumbles nearly 8% after weaker-than-expected results, despite CEO’s blitz to tout positive effects of AIMark Zuckerberg’s media spree touting the positive effects of artificial intelligence did little to cushion the blow of Meta’s second-quarter earnings, which sent its stock tumbling on Wednesday.In a Wall Street Journal op-ed published on Tuesday, the Meta chief executive

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Rogue OpenAI agent that hacked startup tried to attack other firms

ChatGPT developer says activity by autonomous tool was not at severity or scale of what occurred at Hugging FaceOpenAI has revealed that a cyber-attack carried out by a rogue AI agent had more than one victim.The ChatGPT developer said the agent – an autonomous tool that can carry out sequences of commands without human help

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Shares in Asian chip firms plunge further as AI sell-off continues

Drop comes after South Korean company SK Hynix’s results undershot investors’ expectationsBusiness live – latest updatesShares in companies linked to AI have plunged further after disappointing results from the South Korean chipmaker SK Hynix, sending the country’s stock market tumbling for the second day in a row.Seoul’s Kospi index, which is dominated by semiconductor manufacturers,

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Datacentre projects could face fees for grid access to ease connection queue, Ofgem says

Energy regulator’s plan would mean upfront fees or financial security via letters of credit, bonds or cash depositsDatacentre projects in Britain will be forced to put down significant upfront fees to secure an energy connection under proposals to ease an electricity grid logjam.Ofgem, the sector watchdog, said there were 315 datacentres currently queueing to connect

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