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From India and Africa to Europe, countries not yet in the AI supply chain risk mass job losses, losing the tax revenue needed to deal with the tech’s falloutThe San Francisco Bay Area is in the midst of an AI frenzy that makes the California gold rush of the mid-19th century look like a scavenger […]
Will the AI economy create a permanent underclass? Read More »
Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The economics of the AI boom are back in focus today, after Google’s parent company Alphabet said it plans to raise up to $80bn in equity to fund its vast AI
Alphabet to raise $80bn from share sales to fund AI spending splurge – business live Read More »
The former PM’s essay rightly calls for a coherent economic plan, but then sets too much store by AI – and a worldview stuck in the pastTony Blair is right. Labour has made some big and avoidable mistakes since it came to power nearly two years ago. Keir Starmer had a strategy for winning the
At any given time, technology does two things to employment: It replaces traditional jobs, and it creates new lines of work. Machines replace farmers, but enable, say, aeronautical engineers to exist. So, if tech creates new jobs, who gets them? How well do they pay? How long do new jobs remain new, before they become
Technology usually creates jobs for young, skilled workers. Will AI do the same? Read More »
‘He’s having a great time with his new 47% equity,’ one entrepreneur jokes, warning that some startups may leave Australia behindGet our breaking news email, free app or daily news podcastTech entrepreneurs have mocked the government’s capital gains tax changes by posting AI-generated photos of Anthony Albanese as their “new founder” and warning that increased
MIT master’s student Sunshine Jiang ’25 and Rupert Li ’24 are recipients of this year’s Knight-Hennessy Scholarship. Now in its ninth year, the highly competitive scholarship provides up to three years of financial support for graduate studies at Stanford University. Sunshine Jiang ’25Sunshine Jiang, from Hangzhou, China, graduated from MIT in 2025 with a bachelor’s degree
Two from MIT named 2026 Knight-Hennessy Scholars Read More »
Rolling coverage of the latest economic and financial newsShares in athletic apparel and footwear company Adidas have jumped by almost 1.75% in early trading after three of its athletes shone at the London Marathon yesterday.Sabastian Sawe and Yomif Kejelcha both smashed the two-hour barrier in the men’s marathon race, and Tigist Assefa set a women-only
Drivers face dilemma of driving more or cutting back – and support from ride-share giants decried as ‘slap in the face’Drivers for Uber and Lyft across the US are spending hundreds more dollars on fuel each month after the US-Israel war on Iran triggered a sharp rise in oil prices.Support offered by the ride-hailing companies
‘I don’t want to waste the gas’: Uber and Lyft drivers reeling as fuel prices soar Read More »
Industry with business model not yet firmly established and investments financed by huge debts is particularly at riskDonald Trump’s most immediate concern in demanding Iran reopen the strait of Hormuz may be rocketing US gasoline prices, but if the conflict drags on, higher energy costs will be felt far beyond the pumps.Systemically higher power prices
The sense of support and community was palpable when Sojun Park, a postdoc at the MIT Center for International Studies (CIS), delivered a recent presentation on The Global Diffusion of AI Technologies and Its Political Drivers. The event, part of the CIS Global Research and Policy Seminar, filled the venue with audience members from across MIT. “My work
Advancing international trade research and finding community Read More »
