The Bank of England will examine the financial stability risks posed by artificial intelligence in an effort to keep regulators’ eyes open to the technology’s threats. Andrew Bailey said policymakers were “learning at speed” about the impact of AI on the economy and financial sector, leading regulators to expand their remit to include technology from […]
The UK’s energy supply could require more than £900 billion in capital expenditure to achieve net zero by 2050, opening up a significant opportunity for public and private capital in enabling a successful transition, according to a new report published by NatWest and Boston Consulting Group (BCG) today. Signalling the scale of investment needed, NatWest […]
Support from UK Export Finance means that British firms have secured contracts to upgrade critical infrastructure in Benguela Province and protect the region against future flooding. The UK government has issued guarantees which secure Standard Chartered Bank to arrange financing for a €415 million contract between exporter Innovo Group and Angola The largest-ever sovereign transaction […]
The boardroom veteran Rupert Soames is to become the next president of the CBI, the business lobby group that is trying to recover from an existential workplace misconduct scandal. Soames, 64, will begin to take on the role early next year before formally replacing Brian McBride, 68, after members vote on the appointment at the […]
More than 200,000 pensioners were left out of pocket by a total of £1.3bn last year and many will never be repaid because of lax record keeping, according to parliament’s spending watchdog. Computer errors at the Department for Work and Pensions (DWP) meant 165,000 also missed out on £1.2bn in the previous year, the public […]
Job vacancies in the American economy fell to their lowest level in more than two years, helping cool the labour market and raising expectations of interest rate cuts in the world’s largest economy. Official figures from the Labour Department showed there was a drop in job openings from 9.35 million to 8.73 million in October, […]
Amazon and Google have complained to the UK’s competition regulator that their rival, Microsoft, uses practices that restrict customer choice in the £7.5 billion cloud computing market. In their written submissions to the Competition and Markets Authority, which is investigating the lucrative cloud computing market, the two companies accused their fellow technology giant of using […]
British car manufacturers are to be given a three-year reprieve from Brexit tariffs on electric vehicle exports to the EU, hours after new figures showed sales of battery-powered vehicles fell by almost a fifth last month. The European Commission signalled yesterday that it would delay imposing a 10 per cent tax on the exports of […]
The UK Chancellor has disagreed with claims that the UK economy has a ‘broken leg’ but instead says is has a ‘sprained ankle’ as he blames Brexit for sparking half a decade of instability leading to ‘incredibly challenging times’, voiced at an event hosted by the Resolution Foundation thinktank and London School of Economics’ Centre […]
New research shows that despite the fact that UK entrepreneurs generate £950bn in annual revenue, entrepreneurs in the most innovative regions are struggling to access the funding they need to grow. The number of patents being granted by the UK Intellectual Property Office across the UK reflects the quantity of new and innovative products and […]