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UK economy grows by 0.4% in second quarter as some businesses helped by World Cup and hot weather – business live
Live, rolling coverage of business, economics and financial markets as GDP rises in June despite Iran war after stagnating in MayEuropean stock markets have opened. The FTSE 100 i…
Britain's scorched fields mean a food crisis – and the government is ignoring the one measure that would help | George Monbiot
This summer’s extreme weather and wars in Iran and Ukraine have made our need for food stockpiles more pressing than everWhen a business makes long-term plans, they call it pruden…
UK economic growth slows down as Iran war pushes up energy prices
GDP expanded by 0.4% in three months to June, down from 0.6% in the first quarter, says ONSEconomic growth slowed in the second quarter of the year, as the disruption unleashed by…
The Philippines needs ‘power of all sorts’ to build energy security following a nationwide crisis, says Prime Infra CEO Guillaume Lucci
“What we need is more energy of all sorts, not only more renewable energy,” Lucci tells Fortune at the firm’s headquarters in Pasay City, Manila.
India fuels worldwide jump in planned coal production
Rise in new mine proposals, mainly in states of Odisha and Jharkhand, comes despite plateau in global demandEnough new coalmining projects were proposed last year to increase glob…
Victims of road crime feel ‘forgotten by system’, official review finds
Many of those affected in England and Wales think offences are not treated with the seriousness they deserve, says commissionerBereaved families or seriously injured victims of ro…
Boomers v millennials: how have different generations reacted to falling house prices? | Fiona Katauskas
Some people are more invested than othersSee more of Fiona Katauskas’s cartoons here Continue reading...
San Francisco-area estate sells for $70m in sign of AI-fueled wealth explosion
New owner is said to be involved in AI industry, as new class of multimillionaires is entering the real estate raceA luxury Lake Como-inspired estate in the San Francisco Bay Area…
Canva was the rare startup that grew fast and made money—then AI costs slashed its growth forecast by a third
An analyst said AI is breaking SaaS’s “secret sauce”, and Canva and its competitor, Figma, just became the latest proof
Nearly a dozen firms are already paying up to $100,000 per month for early access Trump’s Truth Social posts
The release of Truth API has raised concerns about insider trading among economists and legal experts.
Japan and the U.S. just spent billions to try to save the yen. Why is it already losing ground?
Economists point out that the U.S.-Japan intervention—as significant as it may be—doesn’t tackle the underlying reasons behind the yen’s weakness.
Jerry Buss made the Lakers Hollywood. Bob Iger and Josh Kushner reportedly bought the show for record-breaking $12.5 billion, up 21% in just 14 months
The pair are buying the team from Mark Walter, who paid $10 billion for it just over a year ago, and someone who Magic Johnson once said would own the team for decades.
CIOs and CTOs spent years lauding AI. Now, with costs rising, they’re putting limits on how it’s used
After making AI tools widely accessible for employees, leaders are putting caps on usage and retraining staff to understand small and cheaper models can often do the job.
Nvidia found a new way to keep the AI boom funded: your retirement money
A $500 billion Wall Street push could route insurance and pension capital into GPU-backed infrastructure as Big Tech leans harder on debt.
Gates Foundation’s $540 million gift to science comes as the federal government pulls back on funding
The historic gift to a University of Washington research institute lands as the federal government retreats from funding science.
The majority of U.S. employers say they plan to increase hiring this year—these are the top roles they’re looking to fill
After years of job market hell, around two-thirds of U.S. employers are now planning to hire again—they’re looking for marketers, HR and tech workers.
Sam Altman thinks working at Goldman Sachs ‘sounds unbelievably terrible now’ and admits he was ‘peer pressured’ into accepting an internship there
Two decades after his application to the bank, OpenAI is recruiting Wall Street veterans and teaching AI to do the work of junior bankers.
Billionaire Michael Saylor says Elon Musk is wrong about AI making money irrelevant: ‘Everybody doesn’t get their own private jet’
Elon Musk says AI will make money disappear. But crypto billionaire Michael Saylor says he’s wrong for one key reason: ‘We're status-oriented animals’
Norway $2.3 trillion fund posts best quarter since 2020
The fund returned 11.5% in the second quarter—the best result since 2020.
Blackstone strikes $1.8 billion deal for Air Canada division
Blackstone and a group of Canadian pension funds will acquire a 25% stake in Air Canada's loyalty program.
AI agents aren’t legally responsible for any harm that they cause, experts say. So who is?
Following Australia’s first reported automated hacking accident, experts warn deployers – and possibly developers – of AI agents could be held liable for the actions of their bots…
Meet Google DeepMind’s chief AI exec—she started out detasseling corn in Indiana for around $1 an hour at 14: ‘I grew up in really humble beginnings’
Google DeepMind’s Lila Ibrahim had no AI pedigree—she started out with a $1 cornfield job, immigrant parents, and a habit of taking risks others missed.
Panama canal fees soar due to Iran war and El Niño as ship ‘pays $4m to jump queue’
Falling water levels linked to weather system are expected to limit number of slots to transit shipping laneCommercial ships travelling through the Panama canal are facing a rise …
Live facial recognition cameras to be used on UK’s busiest shopping street
Sadiq Khan has indicated the technology will be deployed on London’s Oxford Street despite human rights concernsThe Metropolitan police are understood to be planning to use live f…