Finally, in economic news, the Bank of England has cut its base rate to 4%, providing some relief to borrowers after years of high interest rates. However, with inflation still running at 3.6% in June and the job market showing signs of fragility, the central bank has suggested that further reductions are unlikely before 2026. […]
Bank of England Holds Firm on Rates Read More »
Liberty Steel’s Speciality Steel UK division, employing around 1,500 people in South Yorkshire, is on the brink of major restructuring. Owner Sanjeev Gupta is pushing forward with a last-ditch plan to save the business, with a court hearing set to play a key role in the company’s future. His proposal involves a pre-pack administration deal
Liberty Steel in Crisis Talks Read More »
A United States senator has announced an investigation into chatbots from Meta, the parent company of Facebook, Instagram, and WhatsApp. He wants clarification about conversations between children and chatbots powered by advanced artificial intelligence. Meta allegedly explicitly allowed its AI chatbots to have “romantic or sensual” conversations with children, Reuters reported this week. Republican Senator
US Investigation Into ‘Sensual’ Conversations Between Meta Bots and Children Read More »
Brussels plans to free up trillions of euros in European household savings by encouraging people to invest in stocks. The European Union is using Sweden as an example. The plan, which aims to stimulate the economy and increase household wealth, is expected to be presented shortly. It should also expand financing options for businesses. According
Brussels Wants Households to Invest Their Savings Read More »
Air Canada will resume its flights later today after being directed by the Canadian government to end a strike. All striking cabin crew members must return to work by 7:00 PM UK time. This weekend, Air Canada flight attendants went on strike over a pay dispute, causing the Canadian airline to cancel numerous flights. As
Air Canada Ends Strike After Canadian Government Intervention Read More »
The Israeli economy unexpectedly shrank in the past quarter, mainly because the twelve-day war with Iran in June brought business to a virtual standstill. Gross domestic product fell by 3.5 percent year-on-year, the Israel Central Bureau of Statistics reported Sunday. This is significantly lower than the average growth forecast of 0.2 percent among economists. On
Israeli Economy Shrinks Due to War With Iran Read More »
In a report to the US Securities and Exchange Commission (SEC), Kodak writes that there are “doubts about the company’s ability to continue operating.” The 133-year-old photo company has been struggling to make a profit for some time. You know Kodak (if you’re not too young, that is) as the iconic photography company that made
Photo Company Kodak Warns of Bankruptcy Read More »
