OPEC raises oil demand forecast as markets tighten and China reopens February 14, 2023 OPEC has hiked its forecast for global oil demand this year, its first upward revision for months, in its latest market report.
Reining in ChatGPT: AI tech titans must navigate a regulatory maze to thrive in the UK and beyond February 14, 2023 As ChatGPT continues to amaze, and Alphabet and others try to follow suit, Jess Jones explores some of the legal and regulatory challenges facing AI tech, and what they mean for the UK’s ambition to become a science superpower. “The genie is out of the bottle – and it’s hard to imagine how it goes [...]
Arm China lays off dozens of staff as restrictions hit demand February 11, 2023 SoftBank Group Corp’s chip technology firm Arm Ltd’s China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set up a public listing for Arm this year. The China market has been a major source [...]
A naughty midnight swim at the top of The Shard? That’s Valentine’s Day sorted February 9, 2023 Let’s get this clear: Valentine’s Day is a commercialised hellscape. A disastrous day ruled by anxiety for those of us not in couples. If you’re not smooching your partner in a twee restaurant, making valiant waiters interrupt you to take your order, does Valentine’s Day even exist? It’s not that I mind romance, I just [...]
Ignore the re-heated Thatcherism but listen to Truss: we need a growth plan February 9, 2023 Liz Truss has played a blame-game for her failures. But her diagnosis was right - Britain is failing to touch the sides of America's plan for growth. On this front, at least, Rishi Sunak needs to listen, writes Josh Williams.
Ashmore profits plunge by half to £53.8m as spooked investors pull out of emerging markets February 8, 2023 Ashmore’s profits plunged during the first six months of its financial year, with the emerging markets asset manager blaming extreme market turbulence for investors’ decision to pull their cash. The London-listed asset manager notched up pre-tax profits of £53.8m in the six months to the end of December, a fall of 54 per cent on [...]
Is the metaverse immune to CBDCs? February 7, 2023 Dr Chris Kacher weighs up the pros and cons of CBDCs, and wonders if the metaverse can escape their reach with the aid of Web3.
Safety first as Volvo’s EV UK sales accelerate, but shares still take a hit February 3, 2023 The UK remains a key market for automaker Volvo, along with Italy and Belgium where its models shifted faster than anywhere else. The Swedish carmaker, which is majority owned by China’s Zhejiang Geely Holding Group, said its global sales were up two per cent last month to 48,520, from the same period last year but [...]
Oil set for second week of losses as investors await Chinese rebound in demand February 3, 2023 Oil is on course for a second straight week of losses, with investors hoping for clearer signs of fuel demand recovering in China.
Government must support semiconductor sector with funds to ward off overseas buyers, says Pragmatic boss January 31, 2023 It is cheaper to produce semiconductors “anywhere else in the world” compared to the UK, warned Pragmatic boss Scott White.