Nvidia’s chief executive hailed a new era of computing in which “everyone is a programmer”, as the world’s most valuable semiconductor group unveiled a new supercomputer platform to stay at the forefront of the artificial intelligence revolution. Jensen Huang warned in a speech in Taiwan that the traditional tech industry would not keep pace with
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Singaporean state investor Temasek cut the pay of staff responsible for its failed $275mn investment in FTX, Sam Bankman-Fried’s cryptocurrency exchange that collapsed last year. Temasek, one of the world’s largest investors, said it was “disappointed” with the investment and the “negative impact on our reputation”, after it was criticised for backing the start-up. The
Spain’s prime minister Pedro Sánchez has called a snap general election in July after his Socialist party suffered a resounding defeat in local and regional elections on Sunday. Sánchez made the surprise announcement on Monday morning as the conservative People’s party was still celebrating its huge electoral gains across the country. The PP will need
Counting had not even concluded in Turkey’s run-off election on Sunday evening when President Recep Tayyip Erdoğan climbed atop a bus in his hometown of Istanbul to declare victory. “We will be together to the grave,” Erdoğan proclaimed to booming applause before flying to Ankara, the capital city, to deliver a formal victory speech to
Asian equities were broadly higher and US stock futures rose on Monday after US president Joe Biden struck a deal with Republican House Speaker Kevin McCarthy that would raise the US debt ceiling and prevent an unprecedented default in early June. Japan’s benchmark Topix stock index and Australia’s S&P/ASX 200 both rose about 1 per
When Wing-sun Chan left the social and political upheaval of Hong Kong for the outskirts of Manchester two years ago, he embodied several trends at once. Like many in this new diaspora, the 39-year-old father of two was drawn to a leafy northern suburb known for its strong education system. He also prioritised integration into
The writer is chief investment officer of asset & wealth management at Goldman Sachs Once a decade or so, real property values experience a sizeable reset, typically driven by factors related to overbuilding, interest rate movements, dislocation in capital markets or downturns in broader economic conditions. The outbreak of the Covid-19 pandemic in early 2020
More than a decade after the closure of the News of the World — and almost twenty years since the offences in question — newspapers have been pulled once more into court over phone-hacking claims. But this time, executives from three newspaper groups are facing a new and potentially more implacable opponent in Prince Harry,
Corporate distress caused by inflation and rising interest rates is set to spread from smaller to larger UK companies, according to recovery specialists Begbies Traynor and FRP Advisory. Ric Traynor, executive chair of Begbies Traynor, said smaller businesses had so far dominated rising levels of insolvencies and driven the number of liquidations above pre-pandemic levels.
For Anna Li, this year has been the worst she can remember for finding a job in China — harder even than during the pandemic. “I’ve been applying for jobs for half a year. I’m really exhausted but I’ve not received an offer yet,” the 25-year-old graduate in the country’s wealthy eastern Shandong province said,
Japan, declares tourist after tourist, investor after investor, is red hot. The yen is tumbling, the shopping is amazing, the stock market is flying, the sushi is cheap. It is also, perhaps, the only place in the world right now where you can buy a globally successful $20bn company for free. And glorious though that
Tens of thousands of public and private sector pension plans would be pooled into “GB superfunds” with assets of up to £500bn each under “extremely radical” proposals to unleash tens of billions for UK business growth. The measures set out in a report from the Tony Blair Institute are aimed at reversing years of capital
Spain’s conservative People’s party inflicted a resounding defeat on the ruling Socialist party in local and regional elections on Sunday, but despite its big gains the PP will need the support of the hard-right Vox party to govern in many areas. The vote in 12 regions and more than 8,000 municipalities was a crucial test
Turkey’s president Recep Tayyip Erdoğan was leading rival Kemal Kılıçdaroğlu in Sunday’s pivotal run-off election, according to early returns published by state media, placing him on course to extend his rule into a third decade. Erdoğan had secured about 53 per cent of the vote, compared with 48 per cent for Kılıçdaroğlu, according to calculations
The writer oversees the Human Rights Foundation’s combating kleptocracy programme A year ago, with a new administration rising in Washington, it was clear that the US had taken the lead in the transatlantic fight against kleptocracy. But over the past few months, London has begun laying a blueprint to regain that pole position, and started
Mike Lynch, the billionaire founder of UK software group Autonomy, has used around $50mn worth of shares in British cyber security group Darktrace to pay for his bail as he awaits trial for fraud in the US. The British entrepreneur, who was extradited to the US earlier this month, has posted around 14.6mn shares in
Republican House Speaker Kevin McCarthy on Sunday was trying to contain a revolt from rightwing lawmakers opposed to his debt agreement with President Joe Biden, as both sides moved to sell their parties on a deal to prevent a looming US default. McCarthy defended the pact ahead of a high-stakes vote expected on Wednesday in
The UK government is drawing up plans for supermarkets to voluntarily cap the price of staples, in an effort to ease the burden of rocketing food costs on consumers. Steve Barclay, health secretary, confirmed on Sunday that ministers were in talks with retailers about how to “address the very real concerns” many households harbour about
“Brexit has failed.” This is now the view of Nigel Farage, the man who arguably bears more responsibility for the UK’s decision to leave the EU than anybody else. He is right, not because the Tories messed it up, as he thinks, but because it was bound to go wrong. The question is why the
Russian forces pounded Ukraine’s capital Kyiv overnight in what local officials described as the largest kamikaze drone attack since Moscow launched its full-scale invasion of the country 15 months ago. Officials said Ukraine’s air defence systems had downed 52 of the 54 incoming drones launched against Ukrainian targets in the early hours of Sunday, with
The author is a senior fellow at the German Marshall Fund of the United States Basic moral values and historical precedent demand that the defeated aggressor should pay for the war in Ukraine. Some advocates argue that reparations should start immediately by seizing an alleged $300bn of Russian government assets frozen in western financial institutions.