7 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 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

16 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

16 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

18 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

37 h. ago Gold suddenly surges to record high as investors fear the US economy is in trouble

The record-setting price could help Americans sell their precious goods at a pawn shop. But it's a sign of broader economic fears.

Economics

2 w. ago Labour must heed Scots donor's advice and rethink strategy on taxes

Lord Haughey's warning that Labour can not make the same mistakes is correct, says Record View.

Politics