Business
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UK government borrowing costs have risen sharply, causing concern. The 30-year gilt yield reached 5.57% before settling at 5.54%, while 10-year yields increased to 4.7%. Traders fear persistent inflation, influencing interest rates and impacting fiscal strategy.
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UK consumer confidence in the economy has significantly declined. Over the past year, consumer confidence has fallen by 31 points, with 56% of people believing the economy will worsen. Pensioners remain the most pessimistic group, reflecting ongoing financial challenges.
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AI-enabled European stocks fell sharply after major model launches. Market anxiety rose amid valuation concerns as investors questioned whether these companies can maintain their edge.
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PwC UK unveils traffic-light dashboard to monitor office attendance. The tool uses data from badge swipes and Wi-Fi to flag low attendance, linking it to bonuses and reviews, while allowing exceptions for sickness and personal needs. Employees can view their own compliance levels in real time.
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HMRC confirms AI use in monitoring taxpayers’ social media accounts. The tax authority employs AI tools for analysing online posts in criminal tax fraud cases, raising concerns among MPs about potential errors due to automated systems.
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US tariffs on gold bars drive futures to record high. Gold futures surged as the US imposed steep tariffs on one-kilo gold imports, impacting Switzerland’s bullion trade. The tariffs are part of a broader trade policy affecting global markets.
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Insurance generates data at an extraordinary scale every day. But for all its analytical muscle, most insurers remain constrained by legacy systems and siloed data environments. Rory Yates, Global Head of Strategy at EIS, argues that industry growth requires reimagining how data is managed, shared, and operationalised.
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Bank of England cuts rates, but inflation remains a threat. The narrow vote and latest projections signal a longer period of above-target inflation, with the Bank’s policymakers split and business leaders now facing a more uncertain path to normalisation.
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China’s exports rose sharply in July, surprising many market watchers. Businesses accelerated shipments ahead of a new US tariff deadline, driving a sharp rise in exports and a 4.1% increase in imports. Southeast Asia absorbed more Chinese goods as trade shifted amid ongoing tensions between Washington and Beijing.
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ASAPP launches new controls to balance AI and human oversight. The GenerativeAgent update gives companies more ways to monitor, test, and guide AI.
