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Zelenskyy praises 'real leaders' in Europe, as his strained relationship with Trump overshadows EU summit
Source: CNBC
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The Guardian
Bank shares drop as John Healey prepares to raise taxes on the banking sector in the budget – business live
Rolling coverage of the latest economic and financial news John Healey poised to raise taxes on banks in budget Elsewhere in the markets today, South Korea’s Kospi share index has recorded its biggest weekly loss since October 2008, down 14.5% this week. Although the Kospi did rise today (+2%), it was still a bad week for technology stocks – as investors worried about the borrowing, spending commitments and future profitability of AI companies. The reality is that while companies embraced AI aggressively as it first emerged, now they are figuring out how to use it effectively while keeping AI costs under control. A slowing, more careful, path towards corporate adoption has been missed by the market which remained wildly frothy about valuations. “A UK bank tax risk is now a base case. If it is confirmed on 28 October, it’ll be the size and timing that will be key. If Healey does go ahead,
BBC Business2 outlets
Banks expect to be hit with higher taxes in Budget
Senior banking executives have told the BBC they expect to be "on the menu" in the chancellor's Budget tax later this month.
The Guardian
Ofgem could force energy suppliers to pay rivals if they lure customers with cheaper deals
Regulator for Great Britain weighs up reintroducing market stabilisation charge to prevent firms going bust Energy suppliers could be forced to pay a charge to rivals if they lure customers with cheaper deals, as the industry regulator for Great Britain attempts to prevent suppliers going bust this winter. Ofgem has published a consultation on a proposal to reintroduce the market stabilisation charge (MSC), which aims to prevent suppliers failing if there is customer exodus, as it frets over the impact of sharp swings in energy prices linked to the conflict in the Middle East. Continue reading...
CNBC
SpaceX policy manager set to testify as part of NYC Council AI safety investigation
SpaceX is sending its head of global government affairs for AI, Gabriela Castillo Madrid, to testify before the New York City Council.
CNBC
Trump says he won't use nuclear weapons or send ground troops to Iran
Trump said he would not use nuclear weapons against Iran or send ground troops as the U.S. reportedly weighs new strike options.
The Guardian
AI threatens democracy. But we are not powerless: here’s how to fight back | Carine Fouteau
Tech platforms pillage public-interest journalism for profit. But we have leverage as they sow the seeds of their own downfall Carine Fouteau is president and publishing director of the French investigative news outlet Mediapart Big tech companies pose an immeasurable threat: socially, politically, militarily and ecologically. They are also causing a profound crisis of information. The tools they design now serve as weapons of mass destruction against democracy. There is so much at stake that an urgent and broad mobilisation is required. From the harvesting of personal data and the weaponisation of public opinion, to the destruction of jobs, the infringement of civil liberties and environmental damage, ordinary citizens are the main victims of this predatory economy – an economy with an agenda that aligns with the interests of the planet’s most authoritarian and reactionary states. Carin