Business Spotify raises price of premium subscription service July 25, 2023 Spotify is raising the price of its ad-free premium service in more than 50 countries, including the US, UK and Ireland. The music-streaming company, which has more than 200m Premium…
Business COVID culture tsar Mendoza lined up to head Historic England July 24, 2023 A Conservative peer who played a key role in establishing the Culture Recovery Fund during the ravages of the pandemic is being lined up as the next chair of Historic…
Business Credit Suisse handed record £87m fine by Bank of England July 24, 2023 Credit Suisse has been fined a record £87m by the Bank of England for “extremely serious” risk management failures. The bank, which was subject to a forced takeover by Swiss…
Business BBC apologises to Nigel Farage for inaccurate report on bank account closure July 24, 2023 The BBC has issued an apology to Nigel Farage over a story on the closure of his Coutts bank account, “which turned out not to be accurate”. In a statement,…
Business Elon Musk reveals rebranding of Twitter – and what he wants us to now call a tweet July 24, 2023 Elon Musk has unveiled a rebranding of Twitter with a large X logo. The company’s chief executive Linda Yaccarino “tweeted” an image of the apparent new logo beamed on the…
Business Google testing if AI can write news – but insists it won’t replace journalists July 20, 2023 Google is testing whether artificial intelligence (AI) can be used to write news articles – but insists it won’t replace journalists. A spokesperson for the search giant said it was…
Business Tesla unveils new-look Cybertruck – four years after embarrassing gaffe at launch presentation July 20, 2023 Tesla has shared a new look of its upcoming Cybertruck vehicle – almost four years after it was announced. The unusual looking electric pick-up truck, first unveiled back in 2019,…
Business Facebook owner Meta announces its rival to ChatGPT will be free to use July 19, 2023 The owner of Facebook has announced plans to make its version of the artificial intelligence technology behind ChatGPT free for researchers and companies to use. The latest version of Meta’s…
Business Jaguar Land Rover investment in electric vehicle battery plant in UK ‘very welcome’ July 18, 2023 A decision by Jaguar Land Rover (JLR) to invest in electric vehicle battery production in the UK is “very welcome”, a Labour MP has said. Darren Jones, chair of the…
Business UK gas storage capacity a tenth of some neighbours July 18, 2023 The UK’s gas storage is “materially behind” Europe, the chief executive of British Gas owner Centrica has said. Chris O’Shea said there was a need to expand gas storage and…
Business Why young people and renters are among the worst hit by rising prices July 14, 2023 Young adults and renters are some of the groups of people worst hit by rising prices as official figures show around 1 in 20 said they’d run out of food…
Business National debt could hit 300% of GDP by 2070s after ‘rapid succession of shocks’ July 13, 2023 The UK’s national debt could hit 300% of GDP by the 2070s because of the string of major challenges still facing national governments after a “rapid succession of shocks”, according…
Business King’s coronation weighs on economy as output contracts by 0.1% in May July 13, 2023 The economy contracted in May as the additional public holiday for the King’s coronation weighed on output, according to official figures. Data from the Office for National Statistics (ONS) showed…
Business Elon Musk launches long-awaited AI start-up in a bid to rival ChatGPT July 12, 2023 Elon Musk has launched his long-awaited artificial intelligence start-up xAI in a bid to build an alternative to ChatGPT. The Twitter owner has brought in a team of engineers from…
Business Google creates AI with same level of accuracy and bias as doctors July 12, 2023 Artificial intelligence produces misinformation when asked to answer medical questions, but there is scope for it to be fine tuned to assist doctors, a new study has found. Researchers at…
Business Food prices forecast to fall as Bank of England predict lower energy costs this year July 10, 2023 The Bank of England is reiterating its forecast that inflation will fall over the rest of the year, with governor Andrew Bailey saying it will fall “markedly”. The rate of…
Business China risks falling further behind US in AI race with ‘heavy-handed’ regulation July 7, 2023 An Artificial Intelligence show in China is like a glimpse into the future. Indeed, Shanghai has been inundated this week with the industry’s brightest and best for the annual World…
Business A severe money market shift signals worse to come for personal and public finances July 6, 2023 Money markets have begun to price in a Bank of England interest rate of 6.5%. The interest rate on ten year government bonds (the gilt yield as it’s sometimes called)…
Business Elon Musk v Mark Zuckerberg: Is a cage fight really happening? July 4, 2023 The gloves are (about to be) off: Elon Musk and Mark Zuckerberg show no signs of backing down from their commitment to a supposed cage fight. Rumours of a fight…
Business Food inflation is starting to fall, says Sainsbury’s boss July 4, 2023 Food inflation is “starting to fall”, Sainsbury’s has said, as the retailer saw sales boosted by bank holidays and warmer weather. The UK’s second largest supermarket said on Tuesday it…