10 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

15 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

15 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

19 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

20 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

20 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

21 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

21 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

49 h. ago AirPods Pro 3 review: better battery, better noise cancelling, better earbuds

Top Apple buds get upgraded sound, improved fit, live translation and built-in heart rate sensors, but are still unrepairableApple’s extremely popular AirPods Pro Bluetooth earbuds are back for their third generation with a better fit, longer battery life, built-in heart rate sensors and more effective noise cancelling, and look set to be just as ubiquitous as their predecessors.It has been three years since the last model, but the earbuds still come only in white and you really have to squint at the details to spot the difference from the previous two generations. Continue reading...

Politics

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

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

Economics

67 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

69 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

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

6 d. ago Historic UK village with bustling high street and pretty homes is 'finest place to live'

The Black Country village has been rated as one of the top places to live in the UK – and it's easy to see why.

Society

7 d. ago UK can ‘reap the benefits’ of stablecoins in finance, says Bank governor

Andrew Bailey said it would be ‘wrong to be against stablecoins as a matter of principle’.

Economics

7 d. ago Scottish city with renowned architecture and beach rated best place for families to live in UK

A new study analysed UK cities to find the most affordable locations for family housing based on earnings, property costs, and disposable income.

Society

8 d. ago Packaging tax will push up prices for consumers, say industry bosses

The BRC said the packaging tax was a ‘multi-billion pound levy being paid by consumers during a cost-of-living crisis’.

Economics

8 d. ago Keeping rates high for too long ‘could pull inflation below target’

The Bank of England’s Sarah Breeden warned that economic output could also be affected.

Economics

8 d. ago House sales edged up by 2% annually in August – HMRC figures

The market remains sensitive to economic events, housing market experts said.

Politics