City will be shaken up by AI – so we asked ChatGPT for an equities strategy February 1, 2023 Artificial intelligence and machine learning is set to transform trading over the next three years, a JP Morgan survey shows, as traders anticipate the potential for new technologies to shake up trading floors. Over half of traders surveyed in JP Morgan’s eTrading survey predicted that AI and machine learning will be the most influential technology [...]
Darktrace shares slide to record low after short seller alleges accounting errors January 31, 2023 Darktrace shares crashed to a record low today after a short seller alleged that accounting errors had been made by the British-American cybersecurity firm. New York asset management firm Quintessential Capital Management (QCM) published a damning report today alleging dubious marketing, sales and accounting tactics were used to inflate the company’s value before it was [...]
Tesco buys Paperchase brand but over 800 jobs remain at risk January 31, 2023 Tesco has purchased the brand and intellectual property of Paperchase, the supermarket has confirmed, after the embattled stationary company collapsed into administration this morning. However, it has not acquired the chain’s 106 physical stores across the UK and Ireland, leaving 820 jobs at risk. The supermarket will now sell its products in its UK stores. [...]
Samsung committed to investing in semiconductors despite crash in demand for consumer gadgets January 31, 2023 Samsung Electronics will continue investing in the production of computer chips, despite profits from sales of the computer component sinking to their lowest since 2009. The world’s largest chipmaker reported £178bn (270bn won) in fourth-quarter semiconductor earnings on Tuesday, down from 8.83 trillion won from the same period last year. Samsung said demand has significantly [...]
Delays at Dover and Eurostar trains cancelled as French workers strike again January 31, 2023 Ferry operators today warned customers to expect delays on services between Dover and Calais as France is hit by nationwide strikes for the second time in less than two weeks. Hundreds of thousands of workers – including train drivers, teachers and port workers – have laid down tools against the French government’s decision to raise [...]
Tesco’s management shake up places 2,100 jobs at risk January 31, 2023 Tesco is looking to reduce the number of managers in its large shops and close hot deli counters, placing up to 2,100 jobs at risk, the UK’s largest supermarket chain announced today. Tesco, which operates over 2,000 shops, will close its remaining hot deli counters in stores from February 26, having previously removed the majority [...]
Bitcoin and rest of crypto in the red as investors await interest rate decision January 31, 2023 Bitcoin is trading at $22,845 this morning, down by around 2% over 24 hours, while Ethereum - at $1,573 - is in the red by 2.9%.
Walkout Wednesday: The London bus and train services affected by this week’s strikes January 31, 2023 Hundreds of thousands of workers will go on strike in separate disputes over pay, jobs and conditions in what will be the biggest day of industrial action in more than a decade. Teachers, university lecturers, train drivers, civil servants, bus drivers and security guards in seven trade unions will stop work on the same day. [...]
UK unemployment figures could be three times higher than official figures with an ‘army of missing workers’ not accounted for – report January 31, 2023 The UK’s unemployment rate could be three times higher than government figures show due to widespread “hidden unemployment,” a report has warned. Official figures published by the UK’s Office for National Statistics (ONS) show there are just 1.2m unemployed people in Britain, leading to an unemployment rate of 3.7 per cent. However, the Centre for [...]
Strength in numbers, when we look and sound the same, we tend to also think the same January 31, 2023 | Sponsored Consensus is great for comfort (familiarity). However, be it legacy (group) thinking in an industry sector, or the blind spots that often come from being the incumbent, consensus is most definitely not great for voicing change, surfacing new ideas, driving innovation. Rory Sutherland talks about this from a Behaviour Psychology viewpoint. In the transport sector [...]