AI will affect 40% of jobs and aggravate inequality, according to the IMF.
Kristalina Georgieva, managing director of the IMF, warns that “in most scenarios, AI will likely worsen overall inequality”. Ms Georgieva goes on to say that governments should address the “troubling trend” to “prevent technology from further stoking social tensions”. The…
Oil prices soar as US and UK strike over Red Sea raids.
Brent crude reached $80 per barrel for the first time this year, as Iran-backed rebels threatened to retaliate against Western military action. While the price has risen, it remains below the highs hit when Russia invaded Ukraine. However, the UK…
Elon Musk demands that Disney’s CEO be sacked over an ad squabble.
“Walt Disney is turning in his grave over what Bob has done to his company,” Musk wrote in a series of tweets directed at the media behemoth. It comes only a week after he warned businesses that participated in an…
The travel company is considering exiting the London Stock Exchange.
Some shareholders had questioned whether the company’s UK listing was “optimal and advantageous,” according to the holiday behemoth. The decision would be another blow to London’s desirability as a base for large corporations, with numerous electing to list on foreign…
After a profit warning, Dr. Martens stock drops sharply.
It was first popular in the 1960s. The well-known brand said that doing business in the US has become harder lately and that two of its main wholesalers have cut back on sales. Global earnings for the company dropped by…
Elon Musk unleashes a vulgar attack against X advertising.
Elon Musk has lambasted advertisers who have abandoned X in a profanity-laced rant, claiming that they will ruin the social networking site. He accused firms that have joined an ad boycott of the platform formerly known as Twitter of attempting…
The first transatlantic flight utilizing only renewable fuels takes off.
It will take off at 11:30 a.m. GMT from London’s Heathrow airport to New York’s JFK airport, operated by Virgin Atlantic. Airlines regard the journey, which is partially funded by the government, as evidence that a greener way of flying…
Sunak hails the £29.5 billion ‘vote of confidence’ from international firms.
Rishi Sunak praised the anticipated £29.5 billion in additional investment as a “huge vote of confidence” in the UK economy. The Autumn Statement last week featured some steps to stimulate more company investment. However, it occurred against a backdrop of…
Nissan will spearhead a £2 billion investment in a UK electric car manufacturing.
The Japanese company will manufacture electric Qashqai and Juke models at the plant, in addition to the next generation of the electric Leaf, which is now manufactured there. The plan might directly help 6,000 people and many more across the…
After tax cuts, public services face austerity measures.
According to the Institute for Fiscal Studies and the Resolution Foundation, the chancellor’s ideas will cost billions of dollars at the expense of public services. From 2010 to 19 following the financial catastrophe, coalition and Conservative governments slashed state spending…
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