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Software stock sell-off goes global amid fears over AI-led disruption – business live

ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Economics, Stock Market, Stock markets

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 […]

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Women in tech and finance at higher risk from AI job losses, report says

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‘Mid-career’ females also being sidelined by rigid hiring processes, says City of London CorporationWomen working in tech and financial services are at greater risk of losing their jobs to increased use of AI and automation than their male peers, according to a report that found experienced females were also being sidelined as a result of

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Elon Musk is taking SpaceX’s minority shareholders for a ride | Nils Pratley

Aerospace industry, ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Elon Musk, Energy, Mergers and acquisitions, SpaceX, Technology

Merger with loss-making xAI looks to some investors more like a bailout than a rocket trip to the futureElon Musk merges SpaceX with xAI at $1.25tn valuationTo Elon Musk’s fan club, there is nothing to see apart from more evidence of the great man’s visionary genius. SpaceX, the rocket firm, is buying xAI, the artificial

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Anthropic’s launch of AI legal tool hits shares in European data services firms

ai, AI (Artificial Intelligence), Artificial Intelligence, Business, Pearson, Technology, UK news

Stocks in Pearson, London Stock Exchange Group and Experian plunge amid fears over impact of AIEuropean publishing and legal software companies have suffered sharp declines in their share prices after the US artificial intelligence firm Anthropic announced a tool aimed at companies’ in-house lawyers.The UK publishing group Pearson’s shares fell by 4%, while the information

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Palantir beats Wall Street expectations amid Trump immigration crackdown

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CEO Alex Karp hails ‘iconic’ financial results despite criticism over contracts with ICE and homeland securityPalantir celebrated its latest financial results on Monday, as the tech company blew past Wall Street expectations and continues to prop up the Trump administration’s push to deport immigrants.Palantir has secured millions of dollars in federal contracts amid Trump’s crackdown

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Elon Musk merges SpaceX with xAI at $1.25tn valuation

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Aerospace business and artificial intelligence firm to unite for IPO as world’s most valuable private companyBusiness live – latest updatesElon Musk’s aerospace company SpaceX has acquired his artificial intelligence business xAI, in a $1.25tn (£910bn) merger that consolidates part of Musk’s empire as SpaceX prepares to go public later this year.The two companies announced the

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‘Deepfakes spreading and more AI companions’: seven takeaways from the latest artificial intelligence safety report

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Annual review highlights growing capabilities of AI models, while examining issues from cyber-attacks to job disruptionThe International AI Safety report is an annual survey of technological progress and the risks it is creating across multiple areas, from deepfakes to the jobs market.Commissioned at the 2023 global AI safety summit, it is chaired by the Canadian

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Barnsley rebranded UK’s first ‘tech town’ as US giants join AI push

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Minister announces Microsoft, Cisco and Adobe to help apply AI to local schools, hospitals, GPs and businessesIn 2002 Barnsley toyed with a redesign as a Tuscan hill village as it sought out a brighter post-industrial future. In 2021 it adopted the airily vague slogan “the place of possibilities”. Now it is trying a different image:

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