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UK’s OnlyFans tops $3bn valuation amid talks to sell stake to US investor

Adult video platform to sell minority stake to increase stability after death of its founder Leonid RadvinskyBusiness live – latest updatesOnlyFans, the UK adult video platform, is in talks to sell a minority stake to a US investor that will value the business at more than $3bn (£2.2bn).The London-based company is in advanced talks to

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Co-founder Reed Hastings to step down from Netflix board

Chair’s decision to not seek re-election in June ‘not as a result of any disagreement’, company says in SEC filingReed Hastings, the Netflix chair, is leaving the streaming service he co-founded 29 years ago as the company regains its footing after it lost its $72bn deal for Warner Bros Discovery.In a letter to investors released

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Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool

Release of new Claude model, so far been limited to US firms, will expand to British institutions in coming daysBritish banks will be given access in the next week to a powerful AI tool that was deemed too dangerous to be released to the public, as a series of senior finance figures warned over its

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Starmer tells social media firms in No 10 meeting ‘things can’t go on like this’

PM summons senior figures from Meta, TikTok, Google and X and says social media is ‘putting our children at risk’Keir Starmer has told social media bosses “things can’t go on like this” in a Downing Street meeting over internet safety.The prime minister summoned senior figures at Meta, TikTok, Google and X to No 10 on

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AI is destroying jobs – and the energy crisis could make that much worse | Larry Elliott

Every wave of new tech has come with a doomsday scenario. But governments just aren’t planning a human response on the scale required The transition to a world of artificial intelligence has given a whole new meaning to the concept that capitalism can only renew itself through creative destruction. This is the idea that clapped-out

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Shares in Allbirds surge after maker of wool sneakers announces pivot to AI

Rebrand as NewBird AI sent shares up 582% in bizarre and rapid turnaround for firm that had fallen on hard timesAllbirds, the maker of minimalist wool sneakers beloved by Silicon Valley, announced on Wednesday that it is leaving shoes behind and pivoting to artificial intelligence. The new focus and rebrand as “NewBird AI” sent the

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