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The Chinese leader’s visit to Washington appears to have done nothing to shift the stalemate in bilateral relations Within days, two high-profile Chinese visitors will arrive in the US – envoys of friendship, as Xi Jinping described them when he met Donald Trump at the White House this week. The giant pandas, Ping Ping and […]
Rising cost of 10-year gilt to near 19-year high hikes upfront cost of government investment and limits chancellor’s room for manoeuvreBusiness live – latest updatesInternational bodies warn of rising debt and borrowing risksBurnham stands by claim UK is ‘in hock’ to bond marketsA global sell-off in government bonds has put fresh upward pressure on UK
Global bond sell-off piles new pressure on UK borrowing costs before budget Read More »
Rolling coverage of the latest economic and financial newsAI CEOs say they need to slow the pace of development. But will they?The Guardian view on controlling AI: humanity cannot outsource its survivalThe Financial Times are reporting that Anthropic has told its backers it will be profitable this quarter.This might allay investor concerns about the aggressive
Technology is going to drastically reshape the economy, and it’s within our power to decide what that looks likeThe idea that autonomous, thinking machines may one day destroy property, hierarchy and inequality is as old as western political thought. In Aristotle’s Politics, the philosopher cites a fantasy from the Iliad, in which machines begin to
Economics graduates also appear to be affected as demand for them falls in well-paid roles in financeAI may be warping the job prospects for students in the previously high-demand subjects of computer science and economics, according to a detailed look into the careers of recent UK graduates.Data obtained for the 2027 Guardian University Guide published
AI may be denting computer science graduates’ job prospects, UK data shows Read More »
Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid growth of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for the John Healey before next month’s budget.Figures
UK economy defies forecasts with surprise 0.4% growth in July Read More »
Free AI models that are as good as the investment-hungry US versions will disrupt global markets, and offer Britain a lessonAlmost from the moment it began, the end of the Chinese economic miracle has been much anticipated. Thick and fast, the books have come explaining how it will end badly. Overinvestment. A country wallowing in
With traditional goals such as stability and homeownership feeling out of reach, young people are focused on the presentBy now, we all know the shape of financial nihilism: the throw-your-money-at-anything reaction to the dissolution of the slow, linear path to wealth; the prediction markets, meme stocks, cryptocurrencies and microluxuries growing in its place. We’re left
Andrew Bailey warns G20 members about risk of cyber-disruption spreading ‘across jurisdictions’The Bank of England’s governor, Andrew Bailey, has joined the throng of figures warning about the global risks posed by the most advanced artificial intelligence technology.In a two-page letter sent to international finance ministers and central bank governors as part of his role as
Advanced AI threatens global financial stability, says Bank of England boss Read More »
Move to raise levy on goods made with polysilicon aims to protect domestic US supply chains from China, the major producerDonald Trump has ordered a new 15% tariff on imported products made of polysilicon, an important ingredient in microchip manufacturing that is primarily produced by China.The new tariff, which will take effect on 4 December,
Trump orders new 15% tariff on key material for solar panels and microchips Read More »
