42 h. ago Tech giants beat quarterly expectations as Trump’s tariffs hit the sector

What’s new in AI – from effects on job market to Meta’s new app and ChatGPT changes – and a look at Musk’s first termHello, and welcome to TechScape. I’m your host, Blake Montgomery, and this week in tech news: Trump’s tariffs hit tech companies that move physical goods more than their digital-only counterparts. Two stories about AI’s effect on the labor market paint a murky picture. Meta released a standalone AI app, a product it claims already has a billion users through enforced omnipresence. OpenAI dialed back an obsequious version of ChatGPT. And we look back at Elon Musk’s first term. Continue reading...

Politics

43 h. ago FTSE 100 ends record run of gains as UK and US rates decisions loom

The index had been on a winning streak for more than two weeks.

Politics

62 h. ago Did Donald Trump delay GTA 6? All we know as wild internet theory circulates

Now we have GTA 6's second trailer, but some fans are a little concerned that the re-election of President of the US, Donald Trump, might cause further delay to the game beyond its May 2026 release

Politics

64 h. ago UK's FTSE 100 flat as investors assess Trump's latest tariffs ahead of Fed

UK's FTSE 100 flat as investors assess Trump's latest tariffs ahead of Fed  Reuters

Economics

5 d. ago Tech oligarchs are gambling our future on a fantasy | Adam Becker

Musk and Bezos are the heirs to a quasi-religious belief in tech salvation. The rest of us are stuck in the real worldIt’s tempting to believe that tech billionaires’ embrace of Donald Trump and the far right is a sudden rupture with the usual political ideology of Silicon Valley. Op-eds in the New York Times and elsewhere have made this case. Even Marc Andreessen, one of the billionaires in question, claims that this is what happened – he said that it was a change in the Democratic arty that pushed him and his fellow oligarchs into the arms of the GOP.Yet this is a serious misunderstanding of the situation. There wasn’t a sudden shift in the politics of tech – it was a homecoming. While it’s true that Silicon Valley has long supported Democratic candidates for political office – and that rank-and-file tech workers still vote overwhelmingly for Democrats – the fundamental ideology underpinning the culture of Silicon Valley’s venture capitalists and CEOs has always had a far-right li...

Politics

6 d. ago Wall Street and European markets finish week on a high after US jobs report

FTSE 100 records its longest winning streak as Washington releases better-than-expected hiring figuresMarkets on both sides of the Atlantic rose on Friday after hiring in the US slowed less than expected in April, offering a glimmer of hope that the world’s largest economy was in a better-than-feared position to withstand the fallout from Donald Trump’s tariffs.On Wall Street the S&P 500 was up 1.5% and the Dow Jones rose 1.3% by early afternoon on Friday, while European markets closed sharply higher after official figures showed the US workforce grew by 177,000 last month. Continue reading...

Politics

6 d. ago FTSE 100 seals longest ever winning streak amid recovery from April tariff shock

London’s blue-chip index has risen for 15 consecutive days, the longest stretch in the green it has ever seen.

Events

7 d. ago Stock markets gain as China ‘evaluates’ offer of US trade talks – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 gains on hopes of US-China trade thaw; Shell profits drop 28% to $5.5bnCommodities companies are among the best performers on stock markets this morning.They would be among the best placed to benefit from the US backing down in its trade war with China. The FTSE 100 has a lot of Europe’s big mining listings, and they are leading the way on Friday. Continue reading...

Economics

7 d. ago Shell profits fall as big oil faces slump in prices; UK cuts NatWest stake below 2% – business live

Live, rolling coverage of business, economics and financial markets as FTSE 100 oil company profits drop 28% to $5.5bnStock markets have gained across Europe, as investors welcomed signs of a possible thaw in the trade war between the US and China.Germany’s Dax gained 1.2% in the early trades, while France’s Cac 40 was up 1.4% – after both were closed over the May Day bank holiday. The Stoxx 600 index, which tracks big companies across Europe, rose by 0.9%. The FTSE 100 was up 0.9%.“The US has recently taken the initiative on many occasions to convey information to China through relevant parties, saying it hopes to talk with China,” the statement said, adding that Beijing was “evaluating this”.“Attempting to use talks as a pretext to engage in coercion and extortion would not work,” it said.This optimism has continued overnight after China’s Ministry of Commerce said that it’s evaluating trade talks with the US. The ministry said this comes as “the US has recently sent messages to C...

Economics

7 d. ago Microsoft wins Big Tech’s first earnings battle since Trump’s tariffs

Apple and Amazon lose out as trade war threatens to hit hardware and ecommerce hardest

Politics

7 d. ago Apple to report quarterly earnings amid Trump trade policy chaos

Trump said consumer electronics will be exempted from his soaring tariffs on China but it is unclear for how longInvestors have their eyes on Apple as it prepares to report financial results of the second quarter of the fiscal year on Thursday. The tech giant has been working to calm nervous analysts after Donald Trump levied sweeping tariffs on countries around the world that are likely to complicate supply chains for consumer electronics. Since the beginning of the year, Apple’s stock has slumped 16%.In anticipation of its earnings report, the company’s stock notched up slightly on Wednesday. Analysts are predicting a positive quarter for Apple with an average revenue estimate of $94.56bn, up 4.2% over last year, and earnings of $1.62 per share, up 5.8%. The company, worth $3.2tn, has beaten Wall Street’s expectations for the previous four quarters. Continue reading...

Events

7 d. ago Profits up, stocks down and angry calls: Tech giants playing nice with Trump hasn’t translated to a windfall

In the first 100 days of Trump’s second term, the president has presided over a chaotic and turbulent economy

Politics

8 d. ago Trump tariffs cause fastest slump in British factory export orders in five years – business live

Live, rolling coverage of business, economics and financial markets as UK manufacturers report falling export orders and China signals openness to US trade talks Fhaheen Khan, senior economist at Make UK, a lobby group for British manufacturing, said:UK manufacturers are caught in the eye of a perfect storm, with rising costs and international trade uncertainty undermining growth prospects. While actual changes in trade have been limited, the unpredictability, particularly around US tariff policy, is doing significant damage and paralysing decision makers. Many firms are delaying major investment decisions until greater clarity emerges, while being forced in the meantime to cut costs through redundancies while pushing through price increases.This has left manufacturing experiencing its most severe slowdown in years, with the UK at a competitive disadvantage compared to our European peers who are weathering current challenges relatively better. As a result, it is now vital that gover...

Politics

8 d. ago China hints at openness to trade talks with US; Tesla denies board search for Musk successor – business live

Live, rolling coverage of business, economics and financial markets as Chinese state-controlled social media says US has approached China for trade talksLloyds Banking Group has reported a 7% drop in pre-tax profit to £1.5bn in its first quarter, and is bracing for the ripple effect from Trump’s tariffs on its balance sheet.The high street bank said that it has set aside £309m to account for possible bad debts, compared with previous guidance of £274m, as it added a £35m net charge to prepare for the possible impact on the economic outlook from President Trump’s tariffs.The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue.Yuyuan Tantian is not among China’s most authoritative state media outlets. The Global Times, which is owned by the newspaper of the governing Communist Party, People’s Daily, has often been first to report China’s next steps in trade disagreements over the past few years.Guo Jiakun, a spokesperson fo...

Politics

8 d. ago Tesla denies board search for Elon Musk’s successor; Trump tariffs to slash growth, says Bank of Japan – business live

Live, rolling coverage of business, economics and financial markets as US electric carmaker says report board is looking for next Tesla boss is ‘absolutely false’National Grid, the FTSE 100 company that owns the UK’s electricity network, has appointed Shell oil executive Zoë Yujnovich as chief executive after the retirement of John Pettigrew.Yujnovich was until recently working at FTSE 100 oil company Shell, where she was director of integrated gas and upstream (oil production) and a member of the executive committee. She previously led the Iron Ore company of Canada, part of Rio Tinto.I firmly believe in the vital function energy companies play in driving change and creating value. On both sides of the Atlantic National Grid has an essential role to play in making energy secure, affordable and reliable for our customers and communities. I’m excited about leading National Grid as it delivers on the growth opportunities ahead. Continue reading...

Economics

8 d. ago Wall Street falls while FTSE 100 regains losses after US economy shrinks

The American economy contracted by 0.3% in the first three months of the year amid Donald Trump’s threats of sweeping trade tariffs.

Economics

9 d. ago Barclays profits surge 19 per cent as bank braces itself for global trade war

The UK banking giant increased provisions for loans expected to turn sour, largely driven by £74 million put by for ‘elevated US macroeconomic uncertainty’

Economics

9 d. ago Drugs giant GSK ‘well positioned’ to absorb potential US tariffs

It came as the FTSE 100 giant revealed a rise in sales as weakness in its vaccine division was offset by growth in speciality medicines.

Events

9 d. ago Trump and Vance are 'billionaires and tech bros' putting 'all

The author of Conclave, Robert Harris has slammed Donald Trump and US Vice President JD Dunce for their 'all-out assault on everything that the Christian message is'

Politics

9 d. ago UK stocks buoyed as ‘optimism’ enters markets amid raft of company earnings

The FTSE 100 rose 46.12 points, or 0.55%, to close at 8,463.46.

Politics