Andrew Bailey warns markets are not ready for the rise (or fall) of AI Markets The governor of the Bank of England and chair of the Financial Stability Board, Andrew Bailey, has warned that countries are unprepared for the consequences of advanced AI and that the wider economy remains vulnerable to a dramatic market correction triggered by a potential slump in AI and tech stocks. Ahead of a G20 meeting [...]
Microsoft ‘back on track’, whilst Meta spending leaves investors ‘nervous’ Tech Microsoft saw strong growth over the last quarter as demand for its AI products continued to climb, while Meta’s rising spending on AI overshadowed record sales and sent its shares lower. The two US tech giants reported quarterly results after the closing bell on Wednesday, offering investors a clear picture of whether billions of dollars [...]
‘Nasty’ chip stock rout plunges Nasdaq into correction territory Markets A global rout in chip stocks plunged the Nasdaq into correction territory on Tuesday just hours after South Korea’s bourse was forced to halt trading, in a sharp change of fortunes for what has been one of the year’s top performing exchanges. New York’s tech-heavy index fell nearly two per cent at the US market [...]
Natwest boss becomes latest City figure caught in AI social media scam July 3, 2026 The boss of Natwest has become the latest City figure to be depicted in an AI scam across social media. Paul Thwaite – the chief executive of the FTSE 100 bank – was posted on X alongside journalist Emily Maitlis in a deepfake picture attempting to create a BBC radio interview. The picture was shared [...]
Book review: The Reverse Centaur’s Guide to Life After AI by Cory Doctorow June 17, 2026 No subject has made me go more hot and cold than AI. Some days, I open Gemini, Claude or ChatGPT, set tough tasks and am dumbstruck by the speed and accuracy of the results. Wow, this is the future, I think to myself. On other days, I ask something simple and they get it all [...]
Salesforce tries to prove AI won’t kill software after brutal sector sell-off May 28, 2026 Salesforce beat Wall Street expectations on Wednesday evening, but the results did little to soothe investor fears that AI could reshape, and potentially undermine, the software industry. The Slack owner reported quarterly revenue of $11.1bn (£8.2bn) during the quarter, up 13 per cent from last year and ahead of analyst expectations, while earnings per share [...]
AI in banks? It’s all marketing and FOMO May 13, 2026 As banks are rush to beef up their AI capacity Samuel Norman recounts the sentiment shared across the industry at a conference in Copenhagen last week. Like all sectors, banks are chasing the promises of AI. The industry is shrugging off growing fears around job losses and rushing to beef up their AI credentials. Last [...]
Big Short guru: Nasdaq about to resemble a ‘bloody car crash’ May 12, 2026 The investment guru depicted in the Big Short has warned that New York’s Nasdaq resembled “the scene of a bloody car crash, minutes before it happens”, accusing Wall St of overinflating the bumper Big Tech earnings that have carried US indexes to a string of all-time highs. Michael Burry, whose decision to bet against the [...]
Big Tech results: Alphabet soars as Meta meta sinks on spending plans April 30, 2026 The four largest AI players reported quarterly earnings simultaneously for the first time on Wednesday, delivering a broadly positive set of results that nonetheless triggered a sharp divergence in after-hours share price moves. Alphabet led the pack, with Google’s parent company posting revenue of $109.9bn (£81.6bn) a 22 per cent rise on the same period [...]
Exclusive: Lloyds in tie-up with Google to build AI agents April 30, 2026 Lloyds Banking Group has formed a tie-up with Google as the financial services giant sets its sight on building its own AI agents, City AM can reveal. The blue-chip lender is leveraging Google Cloud – the tech giant’s suite of computing services – and the bank’s existing Large Language Model to create a new internal [...]