Elon Musk said Tesla would move “immediately” to hold a shareholder vote to switch the electric carmaker’s state of incorporation to Texas after a court in Delaware voided his $56 billion pay package. The billionaire said the public vote in a poll he posted on X was “unequivocally in favour of Texas!”. In the poll […]
The UK’s Investment Association (IA) has warned investors about the risks of using ‘trading bots’ to make investment decisions. Speaking to the BBC John Allan, head of innovation and operations at the IA said investors should be more cautious about using AI. “Investment is something that’s very serious, it affects people and their long-term life […]
Microsoft beat Wall Street’s forecasts for second-quarter revenue as new artificial intelligence features helped to attract customers to its Cloud and Windows services. Revenue rose by 18 per cent to a record $62 billion in the three months to the end of December compared with an average estimate from analysts of $61.12 billion. Revenue at […]
A venture capital firm backed by Sir Richard Branson has raised $250 million to invest in technology businesses in Britain, the United States and the Nordic region. The fund will base its global headquarters in London and has brought in Lord Browne of Madingley, the former BP chief executive, David Miliband, the former foreign secretary, […]
Post-Brexit controls on food, plant and animal imports to Britain from the EU have come into force. Health certificates will now be required on EU goods ranging from cut flowers, to fresh produce including meat, fruit and vegetables. Some industry bodies raised concerns the rules could cause delays and push up costs, but others said […]
HSBC has been fined £57.4m by the Bank of England for “serious failings” over its measures to protect customer deposits. The bank failed to accurately identify deposits eligible for Britain’s Financial Services Compensation Scheme, the Bank’s Prudential Regulation Authority (PRA) said. Under the scheme, customer deposits are protected up to the value of £85,000. HSBC […]
Amazon is scrapping its planned takeover of vacuum maker iRobot following opposition from EU competition authorities. The companies said in a joint statement that they were “disappointed” but there was no clear regulatory path for the purchase of the Roomba maker. First announced in 2022, the deal would have been one of Amazon’s largest ever […]
Leaders from the fintech industry gathered in Parliament last night to discuss the challenges and opportunities of the increased use of Artificial Intelligence (AI) in businesses across the UK. Speaking at the Parliament Street think tank’s Artificial Intelligence Summit on Monday night, hosted by Dean Russell MP for Watford and chaired by Steven George-Hilley of […]
The government’s decision to scrap VAT-free shopping for tourists is costing the economy £11.1 billion in lost GDP and deterring about two million foreign visitors each year, according to an analysis by the Centre for Economics and Business Research (CEBR). The number of tourists coming to the UK still remains around one million visitors short […]
Train drivers will keep striking to “raise the profile” of their dispute after half a decade without a pay rise, the Aslef union has warned, before another week of rolling strikes across England. Aslef’s general secretary, Mick Whelan, has said he believes that the government will make renewed efforts to see train companies use controversial […]