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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 […]
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
Shares in Allbirds surge after maker of wool sneakers announces pivot to AI Read More »
Elon Musk’s aerospace to AI company will host summer event to try to convince buyers it is worth $2tnBusiness live – latest updatesSpaceX will kick off the marketing for its highly anticipated stock exchange debut by hosting an event in June for 1,500 retail investors, as executives set out to convince buyers that the aerospace-to-artificial-intelligence
The poster child of the AI boom, valued at $850bn, needs to show strategic discipline after ‘casting its net too wide’ If OpenAI is going to float this year, it has to get serious about its business model. The wow factor around the US company – the poster child of an AI industry boom that
If OpenAI is to float on the stock market this year, it needs to start turning a profit Read More »
Investors are shifting toward physical assets that are partially insulated from disruption, says Goldman SachsInvestors have a new mantra as they prepare for AI to shake up the global economy – the Halo trade.Interest in Halo – short for “heavy assets, low obsolescence” – has risen as investors seek out companies with tangible, productive assets,
Investment in AI-resistant ‘Halo’ companies helps push UK and EU markets to record highs Read More »
Scenario posted on Substack envisages a near-future in which autonomous systems upend the entire US economyUS stock markets have been hit by a further wave of AI jitters, this time from yet another viral – and completely speculative – warning about the impact of the technology on the world’s largest economy.The latest foreboding is from
‘A feedback loop with no brake’: how an AI doomsday report has rattled markets Read More »
Opinions are divided about the potential impact of artificial intelligence as the response to a recent viral essay showsUK ad agencies undergo their biggest exodus of staff as AI threatens industryThe message from investors to the software, wealth management, legal services and logistics industries this month has been clear: AI is coming for your business.The
AI is indeed coming – but there is also evidence to allay investor fears Read More »
SemiCab platform by Algorhythm, previously considered a ‘penny stock’, sparks ‘category 5 paranoia’ across sectorShares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.A new tool launched by Algorhythm, a former maker of in-car karaoke systems turned
Shares in trucking and logistics firms plunge after AI freight tool launch Read More »
But, after second day of Wall Street falls, analysts say sell-off ‘may overstate AI’s immediate risk to complex deal-making’Shares in commercial property services companies have tumbled, in the latest sell-off driven by fears over disruption from artificial intelligence.After steep declines on Wall Street, European stocks in the sector were hit on Thursday. Continue reading…
Share values of property services firms tumble over fears of AI disruption Read More »
Drop comes as AI firm Altruist launches service that helps advisers create personalised tax strategiesBusiness live – latest updatesWealth managers and price comparison sites have become the latest companies to be hit by fears that their businesses will be disrupted by new artificial intelligence innovations.Shares in UK wealth management firms tumbled on Wednesday morning, after
UK wealth manager and price comparison site shares fall amid AI fears Read More »
