‘Plenty more pain ahead’: Is the AI bubble bursting? City Talk Global markets are turning red after the blue sweep in the US midterms. Saxo Market’s Neil Wilson asks whether the time has finally come for the AI bubble to burst. Extraordinary market action yesterday. The selling pressure that had been building in AI stocks for weeks finally blew the bloody doors off. The trigger? The Democrats’ [...]
‘The blood is in the streets’: Nasdaq plunges as US midterms rattle SpaceX and Nvidia Markets The Nasdaq index was plunging into the red on Thursday after the US midterms rattled AI-related stocks including Nvidia, Oracle and SpaceX. The tech-heavy index, which tracks 100 of the largest non-financial companies, sank more than five per cent to around 24,416 points. Chipmakers Nvidia and Broadcom each helped lead losses down eight and nine [...]
Global markets cheer to ‘gridlock’ after Democrats sweep US midterms Markets Global stocks rallied after the Democratic party swept the US midterm elections settings the country up for political “gridlock”. Democrats flipped control of both the House of Representatives and Senate, handing the party greater domestic control over US policy and introducing a major blocker to President Donald Trump’s agenda. In the US, a bill must [...]
UK ‘risks losing quantum champions’ without government backing November 3, 2026 Britain risks losing its remaining homegrown quantum computing companies to overseas rivals within two years unless ministers step up investment and prioritise British tech, the boss of Universal Quantum has warned. Sebastian Weidt, chief executive and co-founder of the Sussex-based quantum startup, told City AM that the government’s decisions over the coming months would determine [...]
Tech giants face tougher Ofcom demands after High Court ruling November 2, 2026 Meta, Tiktok and X will face a tougher battle resisting Ofcom’s demands for online safety data after the High Court ruled that tech giants must provide detailed evidence of compliance costs in order to challenge the regulator’s requests. The judgment, handed down on Friday, strengthens Ofcom’s ability to demand information from social media platforms even [...]
UK cyber consulting set for explosive growth after wave of AI attacks November 2, 2026 British cyber consulting is poised for an explosion in growth as boardroom paranoia over AI and hacking fuels demand for external expertise, research has suggested. The UK’s cybersecurity consulting market is expected to have grown about 17 per cent to £2.2bn this year, up from 9.8 per cent in 2025, according to Source Global Research. [...]
As it happened: FTSE 100 reverses losses as oil drops to $105 November 2, 2026 Welcome to City AM‘s FTSE 100 liveblog. It’s a new week in the City and global markets are gearing up for a chain of big events. Chief among them is the US midterms, which could have a major impact on the ongoing conflict in the Middle East that has sent the price of oil soaring. [...]
Meta and Tiktok lose High Court battle against Ofcom’s regulatory data demands October 30, 2026 The High Court has upheld the media watchdog Ofcom’s powers to harvest retroactive safety data from tech giants. In February, Ofcom issued formal information notices to major tech platforms, including Meta, Tiktok, and X, requiring them to share detailed data on content and user exposure to harmful material under the Online Safety Act. Meta, Tiktok, [...]
As it happened: FTSE 100 loses steam; oil up as US considers Iran strikes October 30, 2026 Welcome to City AM‘s FTSE 100 liveblog. It’s Friday morning and stocks are set to open higher. Oil prices are on the march this morning, up above $112 per barrel after dropping on Thursday afternoon. This follows news that a senior US commander has briefed Trump on his options for resuming its assault on Iran [...]
Healey’s grid pledge faces test as data centre pipeline stalls October 29, 2026 John Healey’s Budget pledge to fast-track electricity connections for British data centres faces an immediate test, as new research shows only 13 per cent of planned capacity is under construction. The Chancellor announced a new Data Centre Covenant on Wednesday, offering strategically important projects priority access to Britain’s electricity grid in exchange for commitments on [...]