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Business

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Finance

The Guardian view on the AI backlash: American voters want a say in their future | Editorial

Tech stocks have lost trillions while voters have rejected the industry’s political champions. The billionaire-led boom is facing a democratic reckoning This week’s midterms showed that the political bill for the AI boom is falling due. The Democratic sweep intensified fears over runaway spending, mounting debt and resistance to datacentres, sending tech shares tumbling. On Thursday Wall Street suffered its worst day since the pandemic as $3.2tn was wiped from markets. Anthropic, developer of the Claude chatbot, is hoping to float within the next fortnight for $1.5tn (£1.1tn), but it may not n

The Guardian
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Finance

Further bomb threats disrupt at least another 18 flights across Europe

Media organisations in Ireland and UK also affected as apparently coordinated effort to cause chaos continues A fresh wave of bomb threats disrupted air traffic across Europe on Friday but the affected aircraft landed safely and searches revealed no explosive devices. The latest alerts affected at least 18 flights to or from Bulgaria, Cyprus, Czechia, France, Hungary, Italy, Portugal, Romania and the UK. Continue reading...

The Guardian
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Finance

UK dairy farmers face further pressure as milk processor cuts prices

Freshways lowers price paid to producers by 7p a litre, prompting warnings confidence in the sector is ‘at rock bottom’ “Milk is leaving the farm at a loss,” says dairy farmer Ian Harvey, as he warns confidence in the sector is “at rock bottom”. Most of the UK’s dairy producers were already being paid less for their milk than it costs to produce it after a year of volatile farmgate milk prices, combined with the impact of the summer’s drought and soaring costs of vital fuel and fertiliser triggered by the conflict in Iran. Continue reading...

The Guardian
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Finance

US tech stock rout: is the AI bubble bursting?

After Thursday’s share price plunge on Wall Street, could the volatility be the start of a huge market meltdown? Global financial markets have been thrown into a tailspin as investors bet on an AI slowdown after the US midterm elections. This is not the first time stock markets have wobbled in recent months due to concerns over a tech bubble. But could this volatility be the start of a huge market meltdown? Continue reading...

The Guardian
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Finance

EU charges TikTok with failing to protect users’ mental health

Regulator’s initial ruling says algorithm ‘can be harmful’ and led young and vulnerable viewers ‘down rabbit holes they can’t easily escape’ TikTok has been charged by the European Commission with failing to protect users’ mental health by exposing them to a relentless stream of content that risks worsening eating disorders and anxiety in a case that strikes at its business model. Issuing a preliminary ruling on Friday, the EU regulator said TikTok’s algorithm “can be harmful” and was leading young and vulnerable users “down rabbit holes they cannot easily escape from”. Continue reading...

The Guardian
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