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Andrew Bailey warns that US will not be able to achieve its ambitions aloneThe Bank of England governor has called for international cooperation to tackle growing AI threats, warning that the US and Trump administration would not be able to achieve their ambitions alone.Andrew Bailey’s comments come weeks after the US president, Donald Trump, temporarily banned foreigners from using Anthropic’s powerful Claude Mythos model. Continue reading...

Donald Trump’s tariff threat recasts Brazil’s attempt to protect its democracy as unfair commercial practice – and gives Bolsonarism a Washington stageLast June, Brazil’s supreme court responded to the online lies that helped fuel Jair Bolsonaro’s failed far-right coup attempt in 2023. It ruled that social media platforms could be held liable for some users’ posts, forcing firms such as Elon Musk’s X and Mark Zuckerberg’s Meta to remove hate speech and anti-democratic content. A month

BBPA wants content definition for beer to be considered alcohol free to be changed from 0.05% to 0.5%Pubs and brewers are being prevented from capitalising on Britons’ record-breaking thirst for alcohol-free beer because of over-strict regulation, a trade body has warned.More than 64m pints of low- and no-alcohol beer is forecast to be sold over the summer, an increase of 8m compared with 2025, the British Beer and Pub Association (BBPA) said, citing the figures as proof that the categ

Robust action is needed to protect European industries from unfair competition. The alternative is social strife amid growing insecurityAccording to a recent analysis, China enjoys a surplus in its manufactured goods trade with the European Union that is roughly equivalent to Italy’s national income. That trade disparity, it is estimated, continues to grow by about 30% each year. The stark implication, according to a paper from Centre for European Reform, is that Europe, with Germany i

Asian shares tumble with South Korea’s Kospi down nearly 10%Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.It’s a gloomy start to the week as attacks between the US and Iran in the Gulf continue. Tehran said it had closed the strait of Hormuz, while Donald Trump insisted the key shipping passage remained open and US officials said 20 ships were escorted through the waterway in the past 24 hours.For now, we remain hopeful that

Premium cherry-on-the-vine are poised to take top spot in Britain’s £1bn-a-year tomato marketFor a long time the classic round, red tomato has dominated British salads and sandwiches, but its supremacy is coming under threat as sales of rainbow colours and the upmarket rival “cherry on the vine” take off.“Non-red tomatoes” sales are up 21% this year, a growth rate that far exceeds the overall market, according to Paul Faulkner, of Evesham Vale Growers. Continue reading...

These financiers want to remodel the UK into a form that suits them – one that could threaten to erode the barriers between crime and businessThis coming Tuesday, the government’s representation of the people bill comes back to the House of Commons for its third reading. It bundles up a multitude of measures, including an extension of the franchise to 16- and 17-year-olds and welcome changes to voter registration. But thanks to the continuing furore around Nigel Farage and his extremel

Weather cycle threatens harvests worldwide, adding to inflation already fuelled by the Iran warEconomists are warning that a “super” El Niño weather cycle this year could cause a severe shock to global food prices lasting into 2028.As the Iran war pushes up world food prices to the highest level in three years, economists said supply chains faced “two shocks at once” stoked by extreme weather linked to global heating. Continue reading...

Direct oversight of ‘critical third parties’ such as Oracle and Microsoft given to ensure resilient cyber-defences and help safeguard UK economyThe Bank of England has been handed powers to regulate important tech firms including Amazon and Google from next week, amid fears that system failures could threaten financial stability and harm consumers.From Monday, the Bank and fellow City regulator the Financial Conduct Authority (FCA) will be in charge of ensuring that four large-scale pr

MPs demand publication of full report that outlines catastrophic consequences amid concerns for food securityMembers of parliament have demanded full publication of an explosive report by the UK’s spy leaders that found the collapse of ecosystems overseas would have catastrophic consequences for the UK’s national security, warning that the UK has “no future” if the findings are not urgently acted on.Despite growing concerns for the UK’s food security, likely to be worsened by the third

They suck up energy and water, and blast out heat. Just who is better off from all this investment – aside from tech bros?The two great existential threats of our time – the climate crisis and AI – come hurtling together in the explosion of datacentres across Australia and around the world.You can hardly avoid hearing about them these days, either with awed reverence of the promised benefits to humankind or with fear and anger given the implications for the climate, inflation, jobs and