In a matter of weeks, Donald Trump was hit with two giant penalties from two civil trials in New York – $83m for defamation against the writer E Jean Carroll and $354.9m for inflating the value of his assets on government financial statements. The verdicts combined will cost him some $438m, and that’s only part … Read more
Major technology companies signed a pact Friday to voluntarily adopt âreasonable precautionsâ to prevent artificial intelligence tools from being used to disrupt democratic elections around the world. Executives from Adobe, Amazon, Google, IBM, Meta, Microsoft, OpenAI and TikTok gathered at the Munich Security Conference to announce a new framework for how they respond to AI-generated … Read more
“We’re on the up!” claimed the Daily Express about the British economy on Thursday . Sorry, loyal Conservative cheerleaders, but exactly the reverse is true. Instead of being on the up, we’re on the slide. On Thursday, the Office for National Statistics announced that the UK is in fact in recession, with a 0.3% drop … Read more
Retailers in Great Britain enjoyed the strongest rebound in monthly sales in almost three years in January as people returned to the shops after a slump in Christmas shopping. Sales rose by 3.4% last month, the biggest monthly increase since April 2021, as all retail sectors except clothing stores experienced gains, providing welcome relief after … Read more
A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Carl Icahn won his push for seats on JetBlue Airways’ board of directors, according to a statement from the airline Friday, days after disclosing a nearly 10% stake … Read more
After months of rumour, the giant Indian conglomerate Tata has announced a plan for 2,800 job cuts at the UK’s largest remaining steelworks in Port Talbot, the closure of its blast furnaces and, with it, a large chunk of the UK’s capacity to produce its own crude steel. The country risks making the same economic … Read more
NatWest made its biggest annual profit last year since the 2007 financial crisis, helped by high interest rates, as the bank confirmed the interim boss, Paul Thwaite, would permanently take over as its chief executive before a public sale of its government-owned shares. The UK lender – which is still 35% government-owned – said pre-tax … Read more
Bordered by the Red Sea and the Mediterranean, Egypt is a country blessed with many miles of coastline, and its resorts have long been tourist favourites. But in a country in which the divide between rich and poor has always been stark, Egyptâs recent economic woes have had a seismic effect on society â and … Read more
The owner of the Hinkley Point C power plant has taken a near â¬13bn hit after delays and cost overruns to the vast nuclear project, which have triggered international political tensions. Franceâs EDF Energy said it had taken a â¬12.9bn (£11bn) impairment charge on the project, weeks after it blamed inflation, Covid and Brexit for … Read more
âRome is now the city of luxury hotels,â said Giuseppe Botrugno as he served his loyal crowd of lunchtime customers, mostly office workers who pile into the humble bar and eatery for affordable, no-nonsense Roman fare. âThere is one opposite, one around the corner, and another planned next door to that one,â added Botrugno, who … Read more
