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Wayfair among firms fined millions for misleading sales tactics
Source: BBC Business
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CNBC
Oil prices rise after IEA warns on market constraints; Saudi officials say Aramco facilities attacked
Worries over supply disruptions due to escalating tensions in the Middle East helped to push oil prices higher.
The Guardian
Diesel squeeze expected to continue into 2027 despite Trump’s deal with Russia – business live
Rolling coverage of the latest economic and financial news, including the IMF meeting in Thailand and the IEA’s new oil market report Global financial system is failing developing countries, says Ed Miliband UK government borrowing costs are dropping this morning, which will please John Healey and the IMF alike! The yield, or interest rate, on UK 10-year bonds is down 3.5 basis points to 5.4%, while thirty-year bond yields are 3bps lower at 5.89%. Chancellor John Healey is expected to pay for all new giveaways in this month’s Budget — including a cost-of-living package — with higher taxes or spending cuts rather than more borrowing. People briefed on UK Budget preparations told the FT that the October 28 fiscal package would be “scorecard positive” in 2029-30, the final year of the parliament, meaning that all extra discretionary spending was fully funded. China’s exports, imports, and t
The Guardian
English and Welsh water firms could be forced to return £107m via lower bills
Yorkshire and Thames among providers facing penalties for missing performance targets, but bills could rise elsewhere Business live – latest updates Thames Water, Yorkshire Water and other providers could be forced to cut tens of millions of pounds from household bills after the regulator said they had missed performance targets. Customer bills at Yorkshire Water could fall by £27 on average, while those at Thames could decrease by £7, according to estimates by Ofwat, the regulator of the privatised industry in England and Wales. Continue reading...
CNBC
Bank of America is set to report third-quarter earnings – here’s what the Street expects
The U.S. Treasury Department announced a $1.2 billion penalty against Bank of America on Tuesday.
The Guardian
Nvidia, worth $5.5tn, donates $250m to UK for AI safety research
Pledge spanning five years from world’s most valuable firm comes as concerns about AI agents have risen The $5.5tn (£4.1tn) US chipmaker Nvidia is donating $250m worth of computing power to the UK to support AI safety research. The donation from the world’s most valuable company comes as the UK government confirmed its AI Security Institute, which tests advance AI models, will be able to examine cutting-edge technology developed by companies such as OpenAI, Anthropic and Google before they are released. Continue reading...
The Guardian
AI overlords say they want to democratise their technology. Here’s how | Richard Wilson and Clara Long
A fight over a datacentre in Utah has been a testing ground for citizens’ assemblies, paving the way to oversight What’s your “(p)doom” – the percentage chance that rogue AI will create an existential catastrophe? Judging by their recent warnings, it is rising among tech bosses. On 25 September, OpenAI paused training of its latest frontier models as reports of AI agents going rogue mounted. A day later, Australia’s Senate asked the bosses of OpenAI and Anthropic to appear before an inquiry after rogue OpenAI agents broke into US government websites and an Australian health portal. Both declined. Richard Wilson is the CEO of Iswe Foundation and Clara Long is the co-executive director of the Bloom Project Continue reading...