China's DeepSeek has rolled out preview versions of a new flagship artificial intelligence model, calling it its most powerful open-source platform. Bloomberg Intelligence's Robert Lea explains how the Chinese flagship system is hampered in some areas by a lack of access to Nvidia tech but playing to its strengths in others. (Source: Bloomberg)
China's DeepSeek has rolled out preview versions of a new flagship artificial intelligence model, calling it its most powerful open-source platform. Bloomberg Intelligence's Robert Lea explains how the Chinese flagship system is hampered in some areas by a lack of access to Nvidia tech but playing to its strengths in others. (Source: Bloomberg)
Elon Musk is making a career out of defying the market by making risky, outsized bets before the rest of the market wakes up and smells the coffee. Musk is right so many times that arguing against him seems to become a folly in the current market. Tesla (TSLA) helped redefine the electric-vehicle ...
Elon Musk is making a career out of defying the market by making risky, outsized bets before the rest of the market wakes up and smells the coffee. Musk is right so many times that arguing against him seems to become a folly in the current market. Tesla (TSLA) helped redefine the electric-vehicle ...
Families say ‘Ulm 5’ have been detained under extreme prison conditions since arrest last September Five pro-Palestinian activists are due to appear in court over an attack on an Israeli arms company in Germany, in proceedings their families say could become a “show trial”. The Berlin-based activists, who are British, Irish, German and Spanish citizens, have been held in pre-trial detention in sep...
Families say ‘Ulm 5’ have been detained under extreme prison conditions since arrest last September Five pro-Palestinian activists are due to appear in court over an attack on an Israeli arms company in Germany, in proceedings their families say could become a “show trial”. The Berlin-based activists, who are British, Irish, German and Spanish citizens, have been held in pre-trial detention in separate prisons since 8 September. They are alleged to have broken into Elbit Systems, in the city of Ulm in Baden-Württemberg, in the early hours of 8 September, causing hundreds of thousands of euros of damage before calling the police to arrest them. Continue reading...
Engineer and two drivers killed in recent weeks as scarcity of clean water fuels spread of preventable diseases Israeli forces in Gaza killed a water engineer and two drivers who transported water to displaced families over four days in mid-April, exacerbating severe shortages of clean water that are fuelling the spread of preventable disease. Israeli limits on the shipment of soap, washing powder...
Engineer and two drivers killed in recent weeks as scarcity of clean water fuels spread of preventable diseases Israeli forces in Gaza killed a water engineer and two drivers who transported water to displaced families over four days in mid-April, exacerbating severe shortages of clean water that are fuelling the spread of preventable disease. Israeli limits on the shipment of soap, washing powder and other hygiene products into Gaza have also forced prices up, adding to the challenge of keeping clean and avoiding infection in overcrowded shelters and tent encampments. Continue reading...
He shot the YBAs boozing, canoodling – and shaking up the art scene. Now the photographer has found inspiration in some other unruly characters: his lurchers. We join him for walkies in rural Suffolk ‘Finn! Finn! FINN!” Johnnie Shand Kydd is having trouble keeping his inquisitive lurcher in sight. Finn may be an incredibly sweet-natured dog but he’s hard of hearing – and has previous for disappear...
He shot the YBAs boozing, canoodling – and shaking up the art scene. Now the photographer has found inspiration in some other unruly characters: his lurchers. We join him for walkies in rural Suffolk ‘Finn! Finn! FINN!” Johnnie Shand Kydd is having trouble keeping his inquisitive lurcher in sight. Finn may be an incredibly sweet-natured dog but he’s hard of hearing – and has previous for disappearing on this particular walk. At least the photographer has experience in dealing with unruly characters. In the 1990s, he found himself embedded with the Young British Artists, granted free rein to shoot the hedonistic, chaotic and wildly creative art scene that birthed Tracey Emin, Damien Hirst, Sarah Lucas and more. Shot in black and white, these images upended the convention for artists posing in their studios, easels in hand. “I just wasn’t interested in that at all,” says Shand Kydd. Instead, his photographs capture Hirst balancing a tower of hats on his head, Emin in a rubber dinghy with Georgina Starr, a newly pregnant Sam Taylor-Johnson (then Taylor-Wood) and a whole load of partying, boozing and canoodling. Continue reading...
The king faces possibly his most important ever speech and a thin-skinned president, in the shadow of the Sussexes and the Epstein scandal. What could go wrong? On his high-stakes four-day state visit to the US, King Charles will have to walk a diplomatic tightrope as the guest of an erratic Donald Trump against the backdrop of Iran and security concerns after Saturday night’s shooting at the Whit...
The king faces possibly his most important ever speech and a thin-skinned president, in the shadow of the Sussexes and the Epstein scandal. What could go wrong? On his high-stakes four-day state visit to the US, King Charles will have to walk a diplomatic tightrope as the guest of an erratic Donald Trump against the backdrop of Iran and security concerns after Saturday night’s shooting at the White House correspondents’ dinner . Many challenges lie ahead as he takes up his UK government-decreed task to “reaffirm and renew” bilateral ties amid a worsening “special relationship” on the 250th anniversary of American independence. Continue reading...
Project that tested traces of illicit drugs in wastewater also found higher use during Eurovision song contest Traces of illicit drugs in wastewater in England show spikes in usage during bank holiday weekends, heatwaves and sports events, while the Eurovision song contest ranks as one of the most drug-fuelled nights of the year. Tests at water treatment plants across the country found clear patte...
Project that tested traces of illicit drugs in wastewater also found higher use during Eurovision song contest Traces of illicit drugs in wastewater in England show spikes in usage during bank holiday weekends, heatwaves and sports events, while the Eurovision song contest ranks as one of the most drug-fuelled nights of the year. Tests at water treatment plants across the country found clear patterns in drug taking through the week and changing seasons, and revealed particularly high levels of cocaine and ketamine use compared with other European countries. Continue reading...
Exclusive: Health Foundation says Britain is ‘going backwards’ compared with most other rich countries Findings on healthy life expectancy in UK shed light on its deteriorating health People in the UK are spending fewer years in good health than a decade ago, prompting concern that the population’s health is “going backwards”. The sharp decline in Britain’s healthy life expectancy, the amount of t...
Exclusive: Health Foundation says Britain is ‘going backwards’ compared with most other rich countries Findings on healthy life expectancy in UK shed light on its deteriorating health People in the UK are spending fewer years in good health than a decade ago, prompting concern that the population’s health is “going backwards”. The sharp decline in Britain’s healthy life expectancy, the amount of time someone spends free of illness or disability, is in sharp contrast to its recent rise in most other rich countries globally. Continue reading...
Inaudible infrasound from old pipes and ventilation systems may affect how people feel, research indicates For believers in the paranormal , unsettling sensations brought on by old buildings can be a sinister hint of loitering spirits. But new research points to a more mundane explanation: inaudible sounds from aged pipes and boilers. Scientists investigated the impact of infrasound on a group of ...
Inaudible infrasound from old pipes and ventilation systems may affect how people feel, research indicates For believers in the paranormal , unsettling sensations brought on by old buildings can be a sinister hint of loitering spirits. But new research points to a more mundane explanation: inaudible sounds from aged pipes and boilers. Scientists investigated the impact of infrasound on a group of volunteers and found that even though it was beyond the range of human hearing, people were more irritable and levels of cortisol, the stress hormone, rose when the sound was switched on. Continue reading...
Metric gives fuller picture than life expectancy, which is simply how long people live, says Health Foundation People in UK spend fewer years in good health than a decade ago, study finds The obesity crisis, the record 2.8 million working-age Britons too sick to do so and the rising prevalence of mental illness are sobering reminders that the UK population’s health is not good. But even for those ...
Metric gives fuller picture than life expectancy, which is simply how long people live, says Health Foundation People in UK spend fewer years in good health than a decade ago, study finds The obesity crisis, the record 2.8 million working-age Britons too sick to do so and the rising prevalence of mental illness are sobering reminders that the UK population’s health is not good. But even for those familiar with this troubling situation, the Health Foundation’s analysis of the latest Office for National Statistics figures on healthy life expectancy sheds uncomfortable new light on the country’s poor and deteriorating health. Continue reading...
How close are we to the sci-fi vision of autonomous humanoid robots? I visited 11 companies in five Chinese cities to find out By Chang Che. Read by Vincent Lai Continue reading...
How close are we to the sci-fi vision of autonomous humanoid robots? I visited 11 companies in five Chinese cities to find out By Chang Che. Read by Vincent Lai Continue reading...
He found roaring success on Broadway with Torch Song Trilogy, then appeared in blockbusters Mrs Doubtfire and Independence Day. But notoriety had a cost. The 73-year-old stage legend talks recovery, grief and why he’s taking aim at Trump I hear Harvey Fierstein’s inimitable rasp as soon as I enter Cotton Candy Fabrics quilt store in Connecticut. The walls are lined with vibrant fabrics and colourf...
He found roaring success on Broadway with Torch Song Trilogy, then appeared in blockbusters Mrs Doubtfire and Independence Day. But notoriety had a cost. The 73-year-old stage legend talks recovery, grief and why he’s taking aim at Trump I hear Harvey Fierstein’s inimitable rasp as soon as I enter Cotton Candy Fabrics quilt store in Connecticut. The walls are lined with vibrant fabrics and colourful quilts hang from the ceiling. On any given day you’ll probably find the 73-year-old five-time Tony winner here, among a chatty cast of crafty women and gay men. Fierstein took up quilting in 2009, partly inspired, he says, by his enjoyment of the cable TV show Simply Quilts, but also because of the Names Project Aids Memorial Quilt . It was to be displayed in Washington DC, and he wanted to make panels for two of his close friends who had died of the disease. He has been prolific ever since. He shows me photos of his creations on his phone: an LGBTQ+ rights quilt featuring pink triangles, yellow stars of David – the “Jewish badge” – and Nazi-saluting skeletons; Fierstein with his two dogs; some horny, phallic trees he dreamed about; and an even hornier nude portrait of a young man (an Amazon delivery driver, apparently). Continue reading...
Most evenings, Mohamed Ismail would sit at his local ‘ahwa , one of the small, no-frills coffee shops that are the cornerstone of social life in Cairo. He would smoke shisha and play chess with friends often until 2 or even 3 a.m., with the streets of Egypt’s capital still busy with crowds shopping, snacking and chatting. Then came the Iran war. After energy prices soared , businesses were forced ...
Most evenings, Mohamed Ismail would sit at his local ‘ahwa , one of the small, no-frills coffee shops that are the cornerstone of social life in Cairo. He would smoke shisha and play chess with friends often until 2 or even 3 a.m., with the streets of Egypt’s capital still busy with crowds shopping, snacking and chatting. Then came the Iran war. After energy prices soared , businesses were forced to close earlier to curb electricity use , dimming the lights on Cairo’s storied nocturnal activity. When the authorities announced on Sunday that the monthlong measures were easing, Ismail rejoiced. “May God preserve this blessing, and may the government not change its mind and return again to the early closing time,” the 78-year-old retiree said, sitting in an ‘ahwa enjoying tea with fresh mint and chewing roasted seeds. “It was a difficult, depressing period.” The government curfew for shutting down and switching off had forced residents of the 1,000-year-old metropolis to squeeze in their after-work socializing, initially by 9 p.m. and then 11 p.m. While that might already have seemed late to call it a day in the US or Europe, it upended the lives of Cairenes and cast a dark, eerie calm over the largest city in the Middle East and Africa. With prices still high for a country that relies on imports, the expectation was that Egypt would extend its effort to reduce energy use in the hospitality industry. But Egypt’s cabinet said in a statement that outlets would be able to close as normal from later this week. Local television later said cafés and restaurants would have to shut now at 1 a.m. rather than 11 p.m. Some used to be open around the clock. In places like Korba, a square in Cairo’s east whose distinctive cream-toned buildings date from the early 20th century, a vibrant middle-class area known for its gold stores turned into a ghost town. The chic cafés, family-run clothes stores and shawarma joints lining the Art Deco-styled arcades were required to pull down thei...
Former Bank of England Chief Economist Andy Haldane joins Merryn Somerset Webb to unpack why the UK may feel poorer, more fragile and seemingly out of options — despite sitting on untapped wealth and world-class innovation. From tough fiscal trade-offs and rising taxes to the surprising strength of private balance sheets, he argues the UK’s problems may be serious — but they’re far from unsolvable...
Former Bank of England Chief Economist Andy Haldane joins Merryn Somerset Webb to unpack why the UK may feel poorer, more fragile and seemingly out of options — despite sitting on untapped wealth and world-class innovation. From tough fiscal trade-offs and rising taxes to the surprising strength of private balance sheets, he argues the UK’s problems may be serious — but they’re far from unsolvable. The big question: can policymakers unlock growth before patience and confidence run out? (Source: Bloomberg)
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Chip stocks have gained 47% since March 30. The US and Iran didn’t negotiate this weekend. Futures say crude will be above $80 per barrel at year’s end. Kevin Warsh looks guaranteed to be the next Fed chairman. The Powell investigation is dropped, and Sen. Tillis withdrew his opposition . AND: Tips on ...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Chip stocks have gained 47% since March 30. The US and Iran didn’t negotiate this weekend. Futures say crude will be above $80 per barrel at year’s end. Kevin Warsh looks guaranteed to be the next Fed chairman. The Powell investigation is dropped, and Sen. Tillis withdrew his opposition . AND: Tips on survival from some other Sox . Silicon Rally Whatever your view on the likely outcome in Iran, or the polarization in the US that saw a gunman try to storm a glitzy dinner attended by President Donald Trump at a Washington hotel, the artificial intelligence boom can make your opinion irrelevant. The stock market is at all-time highs, powered by an extraordinary rally for semiconductor stocks. The Philadelphia Stock Exchange Semiconductors index, universally known as the SOX, has gained 47% in the 18 trading days since the broader stock market perceived a thaw in the Iranian position . It has advanced in every one of those days, the longest string of wins in its history: That might seem crazy, but chipmakers are the prime and immediate beneficiaries of the AI boom as companies building data centers or large language models have to start by buying chips. Over the last month, expectations for the sector’s earnings this year have rocketed: It’s just as well that there is so much optimism on earnings, because valuations have surged to new highs. The price/earnings ratio for the SOX, based on the last 12 months’ earnings per share, is now at a nosebleed 60 times: If we use the forward-looking p/e, incorporating the latest more bullish forecasts, it doesn’t look so extreme. But the multiple that investors are prepared to pay of sales makes clear that this is almost wholly dependent on massive margin expansion . The chip providers are expected to be able to ask whatever price they want from the hyperscaler companies racing to dominate AI, with all that increase feeding through to p...
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Poland’s finance minister is campaigning to unlock new European sources of defense funding to avoid further straining the budget. Andrzej Domanski told Bloomberg News that even as Poland’s budget deficit ballooned to an unsustainable 7.3% of economic output last year, defense spending is and will remain Warsaw’s top priority, propelling the government to look for additional funding abroad. The fin...
Poland’s finance minister is campaigning to unlock new European sources of defense funding to avoid further straining the budget. Andrzej Domanski told Bloomberg News that even as Poland’s budget deficit ballooned to an unsustainable 7.3% of economic output last year, defense spending is and will remain Warsaw’s top priority, propelling the government to look for additional funding abroad. The finance minister and his counterparts from three Baltic states agreed in Vilnius on Friday to cooperate more closely in the area of military funding. This could include lobbying the European Union for more aid as well as seeking low-cost loans from beyond the bloc. “We are building a big wide coalition because we need fresh money, new resources,” Domanski said in an interview on the sidelines of a conference in the Lithuanian capital. “Our defense spending is massive. That’s why we need more European solidarity and new tools.” Poland is already the largest beneficiary of the EU’s €150 billion ($176 billion) loans-for-weapons program, known as Security Action for Europe. Domanski said SAFE was a “step in the right direction,” but that his country’s security predicament required additional instruments. Poland along with Lithuania, Latvia, Estonia will jointly work to tap more sources of defense funding. Furthermore, Domanski told the FT last week that he’s in talks over a joint financing and procurement initiative led by the Netherlands, the UK and Finland known as the Multilateral Defense Mechanism. Budget Bind Poland’s $1 trillion economy is regarded as one of the EU’s most vulnerable following Russia’s full-scale invasion of Ukraine in 2022. The country already spends about 5% of its economic output on defense, close to the biggest share among NATO members. The country’s air defenses already faced their major test in September when about 20 Russian drones entered Polish airspace, prompting the alliance to shoot them down. Warsaw is in a bind as its defense drive has been acco...