9 h. ago Footsie and gold soar to record highs as investors shrug off Bank of England's AI 'correction' warning

On a record-breaking day on financial markets, the FTSE 100 rose 0.7%, or 65.29 points to an all-time high of 9548.87, while bullion hit $4,059 an ounce.

Events

14 h. ago ALEX BRUMMER: The signs of a global financial crash are everywhere. Gold's hit record prices... we'd be wise to prepare for catastrophe

About a quarter of a century ago, when I was researching a profile of the Bank of England, I was invited to tour its vast vaults.

Events

14 h. ago Inflation target provides clear benchmark, says Bank of England chief economist

The target has helped to anchor longer-term inflation expectations, Huw Pill said in a speech.

Economics

16 h. ago IMF and BoE warn AI boom risks ‘abrupt’ stock market correction

Kristalina Georgieva and UK financial stability watchdog say valuations are closing in on dotcom bubble levels

Events

18 h. ago Bank of England warns of risk of AI market correction; gold hits new $4,000 an ounce record – business live

Soaring tech valuations could drop amid potentially ‘disappointing’ progress on AI, central bank says; gold has doubled in two years and extends 50% rally so far this yearPeter Hargreaves, the billionaire co-founder of Hargreaves Lansdown, is retiring from the UK’s largest personal investment site, seven months after its £5.4bn acquisition by private equity firms. Hargreaves, 79, who set up the business in 1981 in the back bedroom of his house in Clifton with Stephen Lansdown, is handing his board position to his son Robert and said this “marks a proud new chapter in the family legacy”. His firm pioneered “DIY” investments, allowing people to invest directly in shares via its website without costly financial advisers.The Bristol-based company said he had rejoined the board earlier this year to “provide continuity and support through a period of change” following its takeover by a private equity consortium of Jersey-based buyout giant CVC Capital Partners, Sweden’s Nordic Capital and...

Events

19 h. ago Bank of England warns of growing risk that AI bubble could burst

Possibility of ‘sharp market correction has increased’, says Bank’s financial policy committee Business live – latest updatesThe Bank of England has warned there is a growing risk of a “sudden correction” in global markets as it raised concerns about soaring valuations of leading AI tech companies.Policymakers said there were also threats of a “sharp repricing of US dollar assets” if the Federal Reserve lost credibility in the eyes of global investors. It comes as Donald Trump’s continues to attack the US central bank and threaten its independence. Continue reading...

Events

19 h. ago Bank of England warns growing risk AI bubble could burst; gold hits new $4,000 an ounce record – business live

Soaring tech valuations could drop amid potentially ‘disappointing’ progress on AI, central bank says; gold has doubled in two years and extends 50% rally so far this yearPeter Hargreaves, the billionaire co-founder of Hargreaves Lansdown, is retiring from the UK’s largest personal investment site, seven months after its £5.4bn acquisition by private equity firms. Hargreaves, 79, who set up the business in 1981 in the back bedroom of his house in Clifton with Stephen Lansdown, is handing his board position to his son Robert and said this “marks a proud new chapter in the family legacy”. His firm pioneered “DIY” investments, allowing people to invest directly in shares via its website without costly financial advisers.The Bristol-based company said he had rejoined the board earlier this year to “provide continuity and support through a period of change” following its takeover by a private equity consortium of Jersey-based buyout giant CVC Capital Partners, Sweden’s Nordic Capital and...

Events

20 h. ago AI firms vulnerable to sharp drop in valuations, Bank of England warns

The risk of a ‘sharp correction’ in the financial markets has increased, the Bank’s Financial Policy Committee said.

Events

20 h. ago Bank of England sounds alarm over AI tech bubble and warns of 'sharp market correction'

The Bank of England has sounded the alarm over the risk of an AI bubble in financial markets that threatens to send shock waves across the globe.

Events

39 h. ago EU plan to match Trump steel tariffs spurs ‘existential threat’ to UK steel industry

Alarm sounds over plan in Brussels to double import tariff to 50% with four-fifths of UK exports heading to EuropeThe EU has announced it will match Donald Trump’s steel tariffs, doubling levies on imports to 50% in a move condemned as “an existential threat” to the industry in the UK.With 80% of British exports going to the EU, the change poses the UK steel industry’s biggest ever crisis, according to the lobby group representing the sector. Continue reading...

Politics

43 h. ago Experts on how to talk with kids about violence in the news: ‘No topic is off limits’

The Guardian spoke with therapists, media experts and journalists about helping kids process bad news and develop healthy media habitsWhen rightwing commentator Charlie Kirk was killed last month, footage of his shooting spread rapidly across social media. Today, anyone with a smartphone can access gruesome videos and images – as well as troves of misinformation. Though some experts have been sounding the alarm about the potential harm of smartphones on children and teen’s mental health, the fact is most young people still have access to phones – and the often disturbing content that flows out of them.The Guardian spoke with seven experts on how best to speak with kids about upsetting content and news, at what age to start those conversations – and what to avoid.Anya Kamenetz, journalist and publisher of The Golden Hour newsletterEugene Beresin, MD, psychiatrist and executive director of the Clay Center for Young Healthy Minds at Massachusetts general hospitalTara Conley, assistant ...

Events

43 h. ago How do you talk to kids about violence in the news? We asked experts

The Guardian spoke with therapists, media experts and journalists about helping kids process bad news and develop healthy media habitsWhen rightwing commentator Charlie Kirk was killed last month, footage of his shooting spread rapidly across social media. Today, anyone with a smartphone can access gruesome videos and images – as well as troves of misinformation. Though some experts have been sounding the alarm about the potential harm of smartphones on children and teen’s mental health, the fact is most young people still have access to phones – and the often disturbing content that flows out of them.The Guardian spoke with seven experts on how best to speak with kids about upsetting content and news, at what age to start those conversations – and what to avoid.Anya Kamenetz, journalist and publisher of The Golden Hour newsletterEugene Beresin, MD, psychiatrist and executive director of the Clay Center for Young Healthy Minds at Massachusetts general hospitalTara Conley, assistant ...

Events

61 h. ago Bank governor says UK innovation needs ‘supportive’ investment environment

Andrew Bailey was speaking at a summit in Edinburgh on Monday.

Economics

66 h. ago Fund managers urge Bank of England to scrap debt sales as gilt yields soar

Fund managers have urged the Bank to scrap its multi-billion debt sell-off, which they warn is unnecessarily burdening taxpayers and worsening the UK's fiscal woes.

Economics

68 h. ago UK’s construction slump eases despite prolonged stretch of job cutting

Construction work has been falling since the beginning of the year, according to the PMI surveys.

Society

2 d. ago Popular Next baby clothing is urgently recalled over ‘choking hazard’ as brand ‘truly sorry’

A SELECTION of luxury baby clothing has been urgently recalled over choking fears. The alarm was sounded after it was discovered that there was an issue with the poppers on nine Jojo Maman Bébé garments. Next has apologized for the blunder and has urged customers to return the products immediately. The faulty clothing includes a...

Politics

4 d. ago The rise of digital money poses significant challenges for regulators

Bank of England is at crossroads over the use of crytocurrencies and establishing a financial framework for transactionsThere are those among us who like the idea of swiping and tapping their way through life, armed with a lifetime of digital information as they enter buildings, book online appointments and take train rides to work.Others are not so keen, fearing that big brother databases chock full of personal details will one day control their movements, if that is not happening already. Continue reading...

Politics

5 d. ago Bank governor warns of risks of cutting regulation in bid for growth

Andrew Bailey said in a speech in Amsterdam he can see evidence that there is a ‘risk of history showing signs of repeating itself’.

Events

5 d. ago Wetherspoon's warns inflation will rise this winter after its energy and labour costs soar

Pub giant JD Wetherspoon sounded the alarm over the price of a pint and a meal, with new subsidies for nuclear power set to drive businesses' energy costs even higher.

Events

6 d. ago Short seller Jim Chanos predicts more First Brands fiascos in private credit

Investor famed for spotting Enron fraud sounds alarm on Wall Street’s booming debt machine

Economics