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UK homepage

Nvidia unveils powerful chip in push to extend dominance in AI market (4 hours old)

Chief executive Jensen Huang claims Blackwell GPUs are substantially faster than its market-leading AI hardware

Hippocratic hits $500mn valuation as tech investors seek new bets in AI (6 hours old)

One-year-old healthcare start-up gains investment from venture groups including General Catalyst and Andreessen Horowitz

Chinese and western scientists identify ‘red lines’ on AI risks (16 hours old)

Top experts warn existential threat from AI requires collaboration akin to cold war efforts to avoid nuclear war

Quit-Tok: why young workers are refusing to leave their job quietly (1 day old)

Videos of people resigning or being made redundant are going viral on social media in bid for workplace transparency

Protectionism is running amok in the US (13 hours old)

President Biden risks undermining sound economic policy and support for a key ally if he blocks the Nippon Steel deal

Britain’s levelling up agenda is failing to deliver (10 hours old)

The next government must close the gap between rhetoric and reality

Biden warns Netanyahu that assault on Rafah would be ‘a mistake’ (8 hours old)

Israeli prime minister agrees to send delegation to Washington with alternative plan for Gaza

Israel raids Gaza’s biggest hospital (21 hours old)

Thousands of people have taken refuge in al-Shifa medical complex

Bank of Japan ends era of negative interest rates (59 minutes old)

Central bank becomes world’s last to unwind ultra-loose monetary policy after signs of lasting end to decades of deflation

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Business | The Guardian

P&O Ferries has paid some crew less than half UK minimum wage (12 hours old)

Company is using legal loophole UK government promised to close two years ago, Guardian analysis suggestsP&O Ferries, which controversially sacked about 800 workers in 2022, has paid some crew members less than half the UK minimum wage thanks to an ongoing legal loophole the British government promised to close two years ago.Agency workers at the company, which is owned by the Dubai-based DP World, have in some cases been earning about £4.87 an hour – even lower than the £5.15 an hour the company suggested was its lowest pay rate – an analysis of recent payslips conducted by the Guardian and I[...]

Rachel Reeves: Treasury will ‘hardwire’ growth into tax and spending decisions (6 hours old)

Shadow chancellor to outline plans to shake up department after Labour election victoryThe Treasury under a Labour government would “hardwire” raising Britain’s growth rate into its budget tax and spending decisions as part of plans to shake up Whitehall’s most powerful department, Rachel Reeves is to announce.The shadow chancellor will use a lecture in London on Tuesday to say that a decade of national renewal must start with “day one” reform after a Labour election victory to make growth more pivotal to the Treasury’s work. Continue reading...

Unions condemn Tata Steel decision to shut Port Talbot coke ovens early (12 hours old)

Unite calls for strike action after firm had previously said closure of blast furnaces would happen by end of yearTata Steel has abruptly announced it will cease operations of coke ovens at its Port Talbot plant in south Wales, a move condemned by one union as a “massive blow”.The steelmaker, owned by the Indian conglomerate Tata, said it had made the decision after a “deterioration of operational stability”. The move is likely to impact about 200 workers, but the immediate impact remains uncertain. Continue reading...

£58bn plan to rewire Great Britain expected to spark tensions along route (4 hours old)

‘High-capacity electrical spine’ to run onshore from north-east Scotland to north-west EnglandA £58bn plan to rewire Great Britain’s electricity grid to connect up new windfarms off the coast of Scotland is expected to trigger tensions with communities along the route.National Grid’s electricity system operator (ESO) has mapped out power “motorways” across Great Britain to allow for the biggest investment since the 1960s. Continue reading...

‘Sneaky’ fees add up to 25% to UK music ticket prices, says Which? (4 hours old)

Consumer body calls for a crackdown on ‘bewildering’ range of extra charges at big ticketing sitesLive music fans are losing out because of an array of “sneaky” fees that can add up to 25% to the cost of concert and festival tickets, research from the consumer body Which? has found.With booking open for big summer gigs, the lobby group has called for a crackdown on the “bewildering” range of extra charges that some of the UK’s biggest ticketing websites impose. Continue reading...

UK watchdogs say they will take action against ‘threatening’ debt collectors (17 hours old)

Joint letter from regulators targets finance and utility sectors for volume and tone of correspondence to vulnerable customersRecord 6.7m people in UK are in financial difficulty, warns charityUK regulators are warning they will take “robust action” against firms that are putting consumers’ mental health at risk by using threatening tones and inundating already-vulnerable borrowers with letters, calls and emails, about their debts.Watchdogs have published a joint letter, calling on companies to improve their debt collection practices, after identifying shortcomings across the financial service[...]

World’s largest solar manufacturer to cut one-third of workforce (14 hours old)

China’s Longi looks to slash costs as renewable energy sector faces tough headwinds from inflationThe world’s largest solar manufacturer has slashed nearly a third of its workforce after a cost-cutting drive that included telling staff to only print in black and white fell short and as a chill ripples through the renewable energy sector.China’s Longi is to cut as much as 30% of its workforce, in an acceleration of cost reductions that began late last year, Bloomberg reported. Continue reading...

Criminal fraud trial of UK tech tycoon Mike Lynch to begin (12 hours old)

Co-founder of Autonomy charged with 16 counts of wire fraud, securities fraud and conspiracy in 2011 sale of company to HPA British technology tycoon once lauded as “Britain’s Bill Gates” was the “driving force” behind a “massive” years-long fraud, prosecutors alleged, as his criminal trial got under way in San Francisco on Monday.Prosecutors said Mike Lynch, co-founder of the UK software company Autonomy, ruled the firm “with an iron fist” before its blockbuster takeover by Hewlett-Packard in 2011. Continue reading...

EasyJet joins calls for UK government to help fund hydrogen-powered flight (13 hours old)

Carrier says technology could be a reality by end of the next decade, as it launches a base in BirminghamEasyJet has joined aerospace manufacturers in urging the government to help fund hydrogen-powered flight, as the carrier launched an operation out of Birmingham airport – its first new UK base since 2012.The airline, along with companies including Airbus, Rolls-Royce and GKN, said hydrogen planes could be a reality by the end of the next decade, setting out a detailed roadmap to change the sector. Continue reading...

UK heat pump rollout criticised as too slow by public spending watchdog (22 hours old)

Installations must speed up 11-fold as advisers say latest changes to scheme likely to make 2028 target even harderThe public spending watchdog has criticised the slow pace of the government’s heat pump rollout just days after ministers postponed an important scheme designed to increase the rate of installations.A report by the National Audit Office (NAO) has found that heat pump installations would need to accelerate 11-fold if the government is to reach its target for 600,000 heat pumps installed in homes every year by 2028. Continue reading...

Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024

Telecoms

Telecoms groups reroute Red Sea internet traffic after Houthi attacks (3 days old [16/03/24])

Companies act after reports that submarine cables were cut by an anchor from a sunken ship

Vodafone to sell Italian business to Swisscom for €8bn (3 days old [15/03/24])

UK telecoms group pledges to return €4bn to shareholders after ‘final step’ in reshaping of European operations

Activist investors’ cosy deals with boards deserve greater scrutiny (5 days old [13/03/24])

Lawsuit in Crown Castle/Elliott case highlights how other parties are taking an interest in fine print of settlements

French prosecutors probe corruption allegations linked to telecoms group Altice  (10 days old [08/03/24])

Investigation follows arrest of co-founder Armando Pereira in Portugal last year

How private equity is behind the latest loss from London’s stock market (13 days old [05/03/24])

Nasdaq-listed Viavi has turned to Silver Lake for investment to back its £1bn deal to buy Spirent

UK telecoms specialist Spirent agrees to £1bn takeover offer from US rival (13 days old [05/03/24])

Deal would remove another UK-listed business from London market

Margherita Della Valle, the woman trying to turn Vodafone around (16 days old [02/03/24])

The Italian CEO is determined to hive off significant parts of the telecoms giant while also changing its internal culture

Directors’ Deals: BT’s new chief builds stake (17 days old [01/03/24])

Telecoms group faces multiple challenges

South Africa’s MTN warns of 90% hit to profits from naira devaluation (17 days old [01/03/24])

Mobile multinational says removal of currency peg from its Nigerian unit has increased cost of doing business

Elliott Management named in suit blasting ‘sweetheart’ activist deal (19 days old [28/02/24])

Co-founder of telecoms group Crown Castle criticises agreement to offer board seat to powerful hedge fund

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Technology sector

Nvidia unveils powerful chip in push to extend dominance in AI market (4 hours old)

Chief executive Jensen Huang claims Blackwell GPUs are substantially faster than its market-leading AI hardware

Hippocratic hits $500mn valuation as tech investors seek new bets in AI (6 hours old)

One-year-old healthcare start-up gains investment from venture groups including General Catalyst and Andreessen Horowitz

Autonomy founder Mike Lynch called ‘driving force’ of ‘massive fraud’ in US trial  (8 hours old)

UK tech entrepreneur finally faces a US jury after years of legal wrangling

Chinese and western scientists identify ‘red lines’ on AI risks (16 hours old)

Top experts warn existential threat from AI requires collaboration akin to cold war efforts to avoid nuclear war

Trust in AI to fix Japan’s worker shortage, says top recruiter (1 day old)

Job agency chief warns that while the latest tech tools are producing more candidates, public mistrust is hindering progress

Mike Lynch goes on trial in US over Silicon Valley’s ‘largest fraud’ (1 day old)

Autonomy founder faces charges of falsifying accounts before HP bought his software company in 2011

Reddit IPO reveals the reality check for Silicon Valley  (2 days old [16/03/24])

Companies and their backers are starting to show more signs of acceptance of valuation cuts in ‘down round’ financing

The battle over TikTok  (3 days old [15/03/24])

US Congress took a first step this week to forcing the app’s Chinese owner to sell it off. Can the company fight back?

Chat apps have conquered office life — is that a good thing? (3 days old [15/03/24])

Slack may have lost its lustre but messaging in the workplace isn’t going anywhere

Apple reaches $490mn settlement over Tim Cook’s China demand comments (3 days old [15/03/24])

Investors claimed chief executive misled them during an earnings call in 2018

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

BBC News

New chapter ahead, Reeves promises business (4 hours old)

At a key lecture in the City of London, the shadow chancellor will also vow to reform the Treasury.

Energy grid needs £60bn upgrade to hit green target (4 hours old)

New undersea cables and power lines could add up to £30 a year to energy bills, a new plan suggests.

Japan rates hiked as its inflation wish comes true (33 minutes old)

The move marks the first time the country's central bank has raised interest rates for 17 years.

JD Sports ad attracts motorbike safety complaints (4 hours old)

The retailer has come under fire for an advert showing motorcyclists wearing trainers and doing wheelies.

Nvidia unveils latest artificial intelligence chip (2 hours old)

The firm has benefited from the AI boom, making it the third-most valuable company in the US.

How Temu is shaking up the world of online shopping (4 hours old)

Despite controversy China's Temu is becoming a global online shopping force.

Evergrande and its founder accused of $78bn fraud (3 hours old)

Former billionaire Hui Ka Yan has been fined and faces being banned from the financial market for life.

Is TikTok really a danger to the West? (4 hours old)

Calls in the US for a ban on TikTok have reignited the global debate about its cyber-security risks.

Tata shutting down ovens over stability concerns (11 hours old)

Steel unions say they have known of concerns about the condition of the coke ovens for some time.

Fraud trial of British tech tycoon begins in US (8 hours old)

Autonomy founder Mike Lynch is accused of fraudulently inflating the value of his software firm.

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UK equities

The British Isa is a welcome step back to the future (5 days old [14/03/24])

Rebooting the UK stock market after decades of decline will need a wide range of measures but every little helps

Fintech may not be the spark that fires up London’s IPO market (7 days old [11/03/24])

The prospects for successful public offerings this year or even next seem slim

Do we really need another Isa allowance? (12 days old [06/03/24])

The chancellor’s effort to boost investment in UK companies simply adds to the savings vehicle’s complexity

‘British Isa’ aims to boost ailing equities (12 days old [06/03/24])

Chancellor to allow £5,000 to be invested tax-free in London-listed companies as he flags summer NatWest retail share sale

An empty Budget for the City (12 days old [06/03/24])

‘Inconsequential, parochial and mildly protectionist’

London’s pound shop of global markets still has options for bargain hunters (12 days old [06/03/24])

UK investors ponder domestic market’s enduring discount as US markets soar again

UK groups need to pay executives more, says LSEG chief ahead of bumper new package (18 days old [29/02/24])

Exchange group has proposed 76% increase to David Schwimmer’s pay deal

St James’s Place shares fall 30% as it takes £426mn provision for client refunds (19 days old [28/02/24])

UK wealth manager under fire from regulators over fee structure

Investments that get my vote in this election year (19 days old [28/02/24])

Don’t be distracted by thoughts of who might get into power

Three markets, three highs (20 days old [27/02/24])

What’s powering the new highs in so many markets?

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Opinion

India’s painful venture capital crunch (4 hours old)

After a rush to put money into private companies, the flow of funding has contracted sharply

Britain’s levelling up agenda is failing to deliver (10 hours old)

The next government must close the gap between rhetoric and reality

Reckitt’s baby formula woes will stoke calls for a break-up (11 hours old)

Enfamil judgment against the group marks just the latest in a long series of mis-steps

Direct Line needs a better plan to see off Ageas (12 hours old)

UK car insurer needs to show it has overcome pricing problems if it is to deter Belgium group

Biden needs to increase the pressure on Netanyahu (13 hours old)

Supporting Israel and supporting the country’s prime minister are not the same thing

How to help Ukraine prevail (13 hours old)

The international community must step up its support from sanctions to reconstruction

Protectionism is running amok in the US (13 hours old)

President Biden risks undermining sound economic policy and support for a key ally if he blocks the Nippon Steel deal

Why US credit card investors are shrugging off surging delinquencies (15 hours old)

Returns on equity are far higher than those elsewhere in the banking sector

Choose garden furniture that will look fantastic whatever the weather (15 hours old)

‘I’ve started to think we need an upgrade — perhaps it will help entice me out of doors while the days are bleak’

This Nissan-Honda team will struggle to match EV rivals (19 hours old)

Gap with Toyota is set to widen and low-priced Chinese electric cars are a threat

© Copyright The Financial Times Ltd 2024. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Ipswich