We can’t base artificial intelligence laws off of the risks we only imagine to be real June 21, 2023 We’ve heard endless calls to ‘do something’ on artificial intelligence, but politicians are still basing their thinking on the risks they assume to be real, not the ones we know about, writes James Boyd-Wallis. Last week, Rishi Sunak said he wants to balance safety and innovation to realise the potential of artificial intelligence. But to [...]
The Bank of England risked our economy by believing a Peter Pan myth on inflation June 21, 2023 The Bank of England is failing to predict or control the high rate of inflation because ultimately, no one believes in its ability to correctly predict the course of the economy, writes Paul Ormerod
EP: 209 Royal Ascot – Thursday June 20, 2023 It’s Gold Cup Day at Royal Ascot when the best of the stayers line up to run over the famous two and a half mile trip. The Group 2 Ribblesdale Stakes for fillies is another feature on Thursday’s Royal Ascot card. Jockey Oisín Murphy rides the well supported Coltrane in the Group 1 and joins [...]
The Punter Summary Podcast 22 June June 20, 2023 Here’s your chance to discover all of City AM racing editor Bill Esdaile’s best tips for Gold Cup Day on Thursday at Royal Ascot in a short summary episode of ‘The Punter Podcast’ alongside Chris Barnett. The full preview is also available on the City AM website. The Punter ‘The Punter’ has been City AM’s [...]
Badenoch slammed for ignoring Brexit realities and telling UK firms global trade ‘isn’t too tough’ June 20, 2023 Kemi Badenoch has been criticised by business groups for trying to “shift the blame” after she told British businesses that international trade “isn’t too tough”. The business and international trade secretary said today that the UK has “too many negative tropes about how difficult it all is”. Speaking at the launch of the first e-commerce [...]
Iran supply glut could weigh down oil prices, predict experts June 20, 2023 An unexpected influx of oil supplies from Iran could help further weigh down prices, amid a market downturn from China.
LDI funds withstanding pressure in gilt market as BoE turns attention to shadow banks June 20, 2023 Liability driven investment funds (LDIs) have maintained “high levels of resilience” despite recent volatility in the gilt market, the Bank of England’s Jonathan Hall said today. Hall, an external member of the Bank’s Financial Policy Committee (FPC) said that recent moves in gilt yields had been “significant” as investors reassessed the likelihood of further rate [...]
Peloton: Wheels come off for bike maker as UK losses widen to £210m June 20, 2023 Peloton’s UK arm has struggled to keep up the momentum of its pandemic success, with the group posting widening losses as sales of the luxury exercise bike fall significantly from their lockdown peak. In its most recent financial results in the year to June 2022, the American brand’s British division said sales contracted 13 per [...]
FTSE 100 close: Interest rate concerns linger as NatWest heads lower June 20, 2023 London’s FTSE 100 struggled for gains today as investors took a cautious approach before the Bank of England’s expected 13th straight interest rate rise on Thursday. The capital’s premier index shed 0.25 per cent to close at 7,569.30 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Westfield’s bailed on San Francisco, but it won’t in London, say experts June 20, 2023 Westfield will hand back the keys to its flagship San Francisco mall following nearly two decades of ownership after it was battered by crime and the exit of its 350,000 ft flagship Nordstrom site. In recent years, the shopping centre’s occupancy level plummeted dramatically to around 55 per cent, with a host of household-name retailers [...]
