Bond market rebuffs US treasury’s plan to buy back $6bn in government debt
The US treasury moved to cut the cost of borrowing on Wednesday only to be swiftly rebuffed by the bond market.
Crime & Courts
Anthropic researchers say AI could cause human extinction by 2030
One researcher who resigned said many in industry believe that without regulation AI could kill off humanity
Air traffic control boss given a week to report after UK flight chaos causes 2,000 cancellations
Government remains confident in under-pressure Martin Rolfe but transport secretary believes glitch was avoidable
Christine Lagarde: The choice facing Europeans
More than two centuries ago, the poet Johann Paul Friedrich Richter described Berlin as “more a part of the world than a city”.[1] History would prove him right.
JP Morgan boss Jamie Dimon warns UK chancellor against bank tax hike
Wall Street CEO holds meeting with John Healey amid speculation over windfall tax on banks in October budget
Flooring firm goes into administration
Birmingham-based Headlam said it had also closed 28 of its 76 trade counters, but that it would continue to trade while a restructuring takes place.
EU unveils ‘buy European’ public procurement rules to counter China
European authorities will be encouraged to buy more domestic goods and services when they spend public money under the EU latest effort to counter China’s economic might.
UK datacentres will create just 25% of jobs predicted by tech sector, analysis finds
Datacentres in the UK will create just a quarter of the jobs predicted by the tech sector, while consuming vast amounts of energy, according to new research.
Oil prices rise above $100 a barrel for first time since July as Iran war escalates
The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.
Supercar maker McLaren to create 1,000 UK jobs as part of £450m tech investment
The British supercar manufacturer McLaren is to create 1,000 jobs in a welcome boost to the UK’s struggling automotive industry.
‘Miserable and impossible’: food scarce in Kyiv as Russia targets supply chains
Stocking up on cured sausages from the half-empty shelves in her local supermarket, Valentyna Sveshnikova is worried about money. The 68-year-old grandmother lives off her small pension and has already noticed the cost …
Burnham urged to tackle inequality with policies including wealth tax
Andy Burnham should tackle inequality in the UK by introducing a wealth tax, universal free personal social care and bringing gas and electricity networks under public ownership, according to a report from more than a d…
US bans Canadian dairy, alcohol and motorcycles as trade war with longtime ally escalates
The measure comes as Canada imposes $20bn in retaliatory tariffs and Canadian prime minister Mark Carney vows to reduce his country’s economic dependence on the US
UK air traffic control problem strands hundreds of thousands of passengers
Hundreds of thousands of air passengers had flights delayed or cancelled after another UK air traffic control technical glitch kept planes grounded for hours on Tuesday.
Putin promised Kim Jong-un to strengthen the partnership between Russia and North Korea
Russian President Vladimir Putin sent a telegram to North Korean leader Kim Jong Un congratulating him on the 78th anniversary of the republic’s founding. In it, he pledged to strengthen the partnership between Moscow a…
Lavrov proposed turning all of Ukraine into a “buffer zone”
Russian Foreign Minister Sergey Lavrov suggested that Ukraine become a “buffer zone” once the conflict ends. This was his response to a question about guarantees that hostilities would not resume in 25 years.
UK to force Apple and Google to block explicit images on children’s smartphones
Apple and Google will be forced to block explicit images on children’s smartphones by law in the UK after talks failed to produce a breakthrough, the government has said.
UK government pays highest interest rate on 30-year bond since 1998
The UK government was forced to pay the highest interest rate for a 30-year bond since 1998 on Tuesday, underlining the fiscal challenges facing the chancellor, John Healey.
EU and Canada plan broad alliance to counter U.S.-China dominance - Bloomberg
An overwhelming victory by a far-right-wing party in a small state in eastern Germany will have major repercussions for Chancellor Friedrich Merz’s coalition.
Premier League clubs face losing lucrative sponsors if unlicensed gambling firms banned
Half of the Premier League’s 20 clubs have sponsorship or advertising deals with unlicensed gambling companies that could be illegal next year under plans being developed by the government.
United Utilities fined nearly £1m after discharging raw sewage along Lancashire coast
United Utilities has been fined nearly £1m after illegally discharging raw sewage along the Lancashire coastline and polluting seaside holiday locations including Blackpool.
Ikea wins right to launch legal action against Belgian far-right party
Ikea has won the right to take legal action against a Belgian far-right political party that parodied the Swedish flatpack furniture firm’s branding in its anti-immigration campaign.
Frank Elderson: Fireside chat
European banks are doing much better than they used to. Their profitability has caught up with that of US banks since the pandemic, and cost-to-income ratios in the EU are now better than in the United States. Asset qua…
Channel 4 to axe about 300 jobs in biggest layoffs in its history
Channel 4 is poised to cut about 300 jobs – about a quarter of its workforce – in the biggest round of layoffs in its 43-year history, as the broadcaster seeks to dramatically cut costs.