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The UK’s failure to attract investments from electric vehicle start-ups or large battery makers was “concerning”, the chief executive of luxury-car maker Bentley has warned. The government needs to deal with energy costs to spur investment and compete with other countries whose incentives are “an order of magnitude more attractive than the UK”, Adrian Hallmark
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The chief executives of five leading EU tech groups have called for Brussels to amend proposed data-sharing legislation, saying the new rules would force them to give up trade secrets and hand a competitive advantage to China. The intervention by the heads of SAP, Brainlab, Datev, Siemens and Siemens Healthineers — a separate company —
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A Labour government would increase the stamp duty paid by foreign buyers of UK property while also restricting the sale of new-build properties to overseas investors under plans being drawn up for the party’s general election manifesto. Keir Starmer, Labour leader, wants to tackle Britain’s property affordability crisis, which has made it increasingly difficult for
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Powerful artificial intelligence systems can be of enormous benefit to society and help us tackle some of the world’s biggest problems. Machine learning models are already playing a significant role in diagnosing diseases, accelerating scientific research, boosting economic productivity and cutting energy usage by optimising electricity flows on power grids, for example. It would be
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UK human rights groups have accused police of attacking civil liberties after officers arrested dozens of people to prevent disruption during the coronation of King Charles III. The Metropolitan Police said it had made 52 arrests on the day Charles was crowned King, including for “affray, public order offences, breach of the peace and conspiracy
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Russia has started evacuating hundreds of civilians from occupied areas in south-eastern Ukraine, including families with children from a town housing workers at Europe’s largest nuclear power plant, raising fresh concerns about its safety. The evacuations that started over the weekend come as Russian officials accuse Ukraine of stepping up drone strikes on its territory
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US and European companies have blamed disappointing earnings on a slower than expected economic rebound in China, after the country’s sudden reopening from pandemic restrictions prompted over-optimistic growth forecasts. Cosmetics group Estée Lauder was the most high-profile example this week, suffering its sharpest one-day share price fall on record after it cut sales forecasts because
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PwC has launched an independent review of the practices and culture of its Australian unit after the publication of internal emails related to a scandal involving the sharing of confidential government information on planned tax laws. The emails, published by a senate committee, showed how PwC had used confidential information provided by Peter-John Collins, its
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Revolut chief executive Nik Storonsky has blamed recent banking turmoil for the latest delays to the fintech’s long-awaited UK banking licence, claiming the cause of the hold up “is really not us”. Revolut has been locked in discussions with the Financial Conduct Authority and Prudential Regulation Authority about a UK banking licence for more than
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For the past three years, successive shocks have buffeted the UK economy. Covid-19 drove consumers online, office workers to their kitchen tables and older workers into retirement. Energy prices rocketed, while Brexit rewrote the rules of trade and immigration, reshaping the labour market. Yet the latest official data suggests this upheaval has made very little
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Warren Buffett says there would have been “catastrophic” consequences if US regulators had not insured the deposits at Silicon Valley Bank and Signature Bank, as their failures risked sparking a run at lenders across the country. “Even though the FDIC [Federal Deposit Insurance Corporation] limit is $250,000 . . . that is not the way the US is going to
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