Writing the summary…
Trump makes it clear his power is becoming entwined with AI
Source: The Guardian
Original reporting
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The Guardian
IMF chief warns energy shock, public debt and AI boom threaten global growth – business live
Kristalina Georgieva’s warning comes as Brent crude rises above $101 a barrel Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. The UK housing market has come to a standstill, ahead of the introduction of the government’s Your First Home scheme targeted at first-time buyers. While the market overall has been fairly subdued, property prices have so far proved resilient during a period of higher mortgage rates, which has been driven by changing expectations around the future path of Base Rate. That’s mirrored in wider economic data, with household spending holding up better than many expected despite energy and other cost pressures arising from the Middle East conflict. Whether that picture continues is likely to depend on how confident consumers feel that the latest cost‑of‑living pressures will prove temporary. Confidence has long
CNBC
Why AI is both the hope and the hazard for world leaders, according to IMF chief Georgieva
Kristalina Georgieva warns that the technology lifting growth hopes is also pushing up inflation and yields, just as public debt levels rose.
CNBC
Oil rises as concerns over Houthi attacks on Saudi Arabia eclipse supply recovery
Iran's move to step up attacks on tankers which are transiting through the Strait of Hormuz has also led to renewed worries over oil supplies among traders.
CNBC
Singapore's Temasek warns of the ‘biggest risk’ facing markets right now
Unwinding of the artificial intelligence trade poses the biggest risk to markets, according to Singapore state-owned investment giant Temasek.
CNBC
India’s central bank hikes rates for the first time since 2023 as inflation risks build
HSBC and Goldman Sachs expect the RBI to raise interest rates in December as well.
The Guardian
O2 signs record £200m deal to keep London venue’s naming rights
Exclusive: 10-year sponsorship extension at a 50% premium on last agreement crowns bonanza year for live venue O2 has struck a record £200m deal to retain the naming rights to the London venue the O2 in what is thought to be the largest renewal of its kind in UK history. The 10-year agreement will extend O2’s relationship until at least 2038. It cements the sponsorship as the second longest-running UK stadium naming rights deal after Arsenal’s partnership for the football club’s London ground, Continue reading...