EasyJet warned over 'misleading' £5.99 cabin bag fee 24 minutes ago Share Save Emer Moreau Business reporter Share Save Getty Images EasyJet said it could not provide evidence to the ASA of £5.99 cabin bags EasyJet has been told to stop claiming that carry-on baggage fees are available "from £5.99", after it failed to provide evidence to the advertising watchdog that passengers can stow luggage in...
EasyJet warned over 'misleading' £5.99 cabin bag fee 24 minutes ago Share Save Emer Moreau Business reporter Share Save Getty Images EasyJet said it could not provide evidence to the ASA of £5.99 cabin bags EasyJet has been told to stop claiming that carry-on baggage fees are available "from £5.99", after it failed to provide evidence to the advertising watchdog that passengers can stow luggage in a cabin at that price. The Advertising Standards Authority (ASA) said customers would assume from EasyJet's wording they could take their bags on flights for £5.99. The claim on EasyJet's website was flagged to the ASA by consumer group Which?, which said airlines often advertise low fares but have additional fees. EasyJet said: "We always aim to provide clear information to our customers on pricing and the purpose of this page was to display factual information on fees and charges to customers. "We always have some large cabin bags available for the lowest price. In light of the ASA's feedback we have made some changes to the page to ensure the information is as clear as possible for consumers. It said the wording on the website was meant to inform customers that £5.99 was the starting point for adding carry-on bags and it was an accurate price on several routes. The airline said the fact there were no bags available for less than that price meant the claim was not misleading. Responding to the complaint from Which?, the ASA said it expected to see evidence that large cabin bags could be booked for £5.99 but EasyJet did not provide this. It said consumers would take the "from £5.99" claim to mean that large cabin bags would be available for that price "across a significant proportion of flight routes and dates". As a result, the watchdog ruled the claim was misleading and told EasyJet not to use that wording in future. EasyJet informed the ASA that the section of its website where this claim appeared was intended for information purposes, not marketing or promotion. The a...
Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares dropped 1.1% during mid-day trading on Tuesday . The stock traded as low as $164.69 and last traded at $165.70. Approximately 26,342,328 shares were traded during trading, a decline of 30% from the average daily volume of 37,553,453 shares. The stock had previously closed at $167.47. Get Palantir Technologies alerts: Sign Up Palanti...
Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares dropped 1.1% during mid-day trading on Tuesday . The stock traded as low as $164.69 and last traded at $165.70. Approximately 26,342,328 shares were traded during trading, a decline of 30% from the average daily volume of 37,553,453 shares. The stock had previously closed at $167.47. Get Palantir Technologies alerts: Sign Up Palantir Technologies News Summary Here are the key news stories impacting Palantir Technologies this week: Analysts Set New Price Targets A number of research firms have issued reports on PLTR. Royal Bank Of Canada upped their target price on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an "underperform" rating in a research report on Tuesday, November 4th. Northland Securities raised their price objective on shares of Palantir Technologies from $14.00 to $18.50 in a research note on Tuesday, November 4th. Cantor Fitzgerald increased their target price on Palantir Technologies from $155.00 to $198.00 and gave the company a "neutral" rating in a research note on Tuesday, November 4th. HSBC lifted their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a "hold" rating in a research report on Wednesday, November 5th. Finally, Bank of America lifted their price objective on Palantir Technologies from $215.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $184.07. Get Our Latest Stock Analysis on Palantir Technologies Palantir Technologies Price Performance The business's 50-day moving average is $176.56 and its two-hundred day moving average is $173.53. The firm has a market cap of $3...
Vulnerable missing out on benefits due to online tool 6 minutes ago Share Save Kevin Peachey Cost of living correspondent Share Save Getty Images Vulnerable people are missing out on benefits because they are being directed to online calculators they cannot use, a charity has said. Many are entitled to financial support but rarely have access to face-to-face advisers to help them claim, according ...
Vulnerable missing out on benefits due to online tool 6 minutes ago Share Save Kevin Peachey Cost of living correspondent Share Save Getty Images Vulnerable people are missing out on benefits because they are being directed to online calculators they cannot use, a charity has said. Many are entitled to financial support but rarely have access to face-to-face advisers to help them claim, according to the Money and Mental Health Policy Institute, leaving an estimated £24m in support unclaimed each year. One woman has told the BBC how her life and home were saved because someone sat down with her and her paperwork for hours. But Helen Fisher, who now runs advice services herself, said she feared people were now being sent to online services that left them confused and missing out when their finances were already severely stretched. "It means they will get into further debt and more and more brown envelopes will come through the door," she said. Helen Fisher Helen, now aged 69, had to give up work to look after her husband, Ken, who had suffered a stroke. The family soon found they were falling behind on payments and were under threat of having their home repossessed. "I was at the end of the road as I could not afford to feed Ken and [daughter] Jemma and to heat our home," she said. "We had bailiffs wanting council tax. The energy was about to be disconnected. I could not afford petrol for the car to take Ken to medical appointments." Helen was contemplating suicide, but it was only when an adviser came to her home to do a comprehensive benefits check that their life was turned around. Gateway to help
Key Points AIP is driving explosive growth for Palantir's commercial business. The company also boasts of long-term revenue visibility for its government business. Despite the tailwinds, the premium valuation exposes the company to significant share price volatility. 10 stocks we like better than Palantir Technologies › Palantir Technologies (NASDAQ: PLTR) is set to report its fourth-quarter fisca...
Key Points AIP is driving explosive growth for Palantir's commercial business. The company also boasts of long-term revenue visibility for its government business. Despite the tailwinds, the premium valuation exposes the company to significant share price volatility. 10 stocks we like better than Palantir Technologies › Palantir Technologies (NASDAQ: PLTR) is set to report its fourth-quarter fiscal 2025 earnings results on Feb. 2. Once known primarily as a data analytics player focused on the government and defense sector, the company is now increasingly viewed as a mission-critical enterprise artificial intelligence (AI) platform with accelerating momentum across both government and commercial clients. But does that shift in narrative make the stock a buy now? Let's find out. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Image source: Getty Images. AIP catalyst Palantir's Artificial Intelligence Platform (AIP) and its highly effective go-to-market strategy are proving to be the most important growth engines. In the third quarter, U.S. commercial revenues increased 121% year over year to $397 million. This was driven by the rapid adoption of AIP by both existing and new customers, not only for isolated use cases but also for C-suite-led enterprise-wide transformations. The company's AIP Bootcamps enable clients to deploy AIP in real-world production-grade use cases within a few days, thereby shortening sales cycles. Palantir also stands to benefit from the rapid evolution of agentic AI capabilities within AIP, including AI FDE and AI Hivemind. An AI FDE development agent autonomously connects to various data sources, integrates and transforms data, creates ontologies (a framework that helps relate enterprise physical assets to digital twins or counterparts), and builds applications for enterprises at exceptionally high speed and productivity le...
Key Points The biggest beneficiaries of the AI revolution so far have been semiconductor and cloud computing stocks. Wall Street sees massive upside in AI's deployment in digital advertising. Meta Platforms has quietly built a $60 billion AI advertising empire that no one is talking about. 10 stocks we like better than Meta Platforms › Prior to the artificial intelligence (AI) revolution, the tril...
Key Points The biggest beneficiaries of the AI revolution so far have been semiconductor and cloud computing stocks. Wall Street sees massive upside in AI's deployment in digital advertising. Meta Platforms has quietly built a $60 billion AI advertising empire that no one is talking about. 10 stocks we like better than Meta Platforms › Prior to the artificial intelligence (AI) revolution, the trillion-dollar club only had three members: Apple, Microsoft, and Alphabet. Since OpenAI released ChatGPT to the world and forever changed the technology landscape, several more companies have achieved trillion-dollar status. While semiconductor stocks have become some of the most influential contributors to the AI boom, Wall Street has its eyes on another platform as the next big opportunity. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » Let's dig into how Meta Platforms (NASDAQ: META) is quietly leading the AI supercycle and assess why the company is poised to continue disrupting its big tech counterparts. How is Meta deploying AI? Meta's peers have ambitious AI road maps -- promising to revolutionize society through autonomous systems and humanoid robots. While the upside from these moonshots is enormous, physical AI applications remain years -- if not decades -- away from commercial deployment if they are successful at all. Meta is taking a drastically different approach. The company has one of the clearest ways to showcase how AI is already making a positive impact on its business. Meta Advantage+ is redefining how companies and consumers interact with digital ads. While this might sound a little mundane, Meta's results since launching this product are so good they are almost impossible to believe. Why is Meta Advantage+ such a game changer? The biggest challenge for advertisers is accurately analyzing which types of campaigns different consumer demo...
Key Points An activist investor isn't pleased with the real estate specialist's strategy. It criticized its approach in a blistering letter to its board of directors. 10 stocks we like better than CoStar Group › CoStar Group (NASDAQ: CSGP), the owner of familiar real estate websites Apartments.com and Homes.com, eked out a slight win on the stock exchange Tuesday. On news that an activist investor...
Key Points An activist investor isn't pleased with the real estate specialist's strategy. It criticized its approach in a blistering letter to its board of directors. 10 stocks we like better than CoStar Group › CoStar Group (NASDAQ: CSGP), the owner of familiar real estate websites Apartments.com and Homes.com, eked out a slight win on the stock exchange Tuesday. On news that an activist investor is trying to influence company governance, investors bid the stock up by 0.6% on the day. This edged past the S&P 500 index's 0.4% gain. Third point makes a point That activist is hedge fund Third Point, headed by well-known veteran investor Daniel Loeb. On Tuesday morning, the firm sent a letter to CoStar's board of directors, urging major changes at the company. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » In a letter made public by Third Point, the hedge fund's management said it will propose several new directors to the board. It also said CoStar should take "immediate action" to improve its operations, including considering strategic alternatives for Homes.com and its associated residential real estate businesses. Third Point pointed the finger of blame squarely at CoStar's current leadership. It sharply criticized "the weak board oversight, misalignment of management incentives, and disastrous capital allocation policies that allowed CEO Andy Florance to sink billions of shareholder dollars into an ill-conceived and hopelessly executed strategy to build an online classifieds business in the residential real estate (RRE) industry." Proxy battle, round 1 Pulling no punches, Third Point added that CoStar's stock price has declined 27% over the past five years, while the S&P 500 index's total return was 94%. As of early Tuesday evening, CoStar has not publicly responded to the letter. This is the start of a proxy fight for control and influence, and judging by the market's reaction,...
In Ravinder Sajwan ’s early Silicon Valley career, he blew through his $3,000 monthly credit card limit every two days hustling on a series of tech startups. “We had no money,” said Sajwan, speaking of his first attempts at building businesses in the 1990s. “I would call the card company, say, ‘I’m really sorry, I think I messed up,’ and then got 20 credit cards. At one point, I had 65 credit card...
In Ravinder Sajwan ’s early Silicon Valley career, he blew through his $3,000 monthly credit card limit every two days hustling on a series of tech startups. “We had no money,” said Sajwan, speaking of his first attempts at building businesses in the 1990s. “I would call the card company, say, ‘I’m really sorry, I think I messed up,’ and then got 20 credit cards. At one point, I had 65 credit cards doing just this.” With last month’s Singapore listing of UltraGreen.ai Ltd. , a company that sells fluorescent dye used in surgical imaging, the chief executive officer has struck gold. The $400 million initial public offering — the city-state’s biggest primary listing in eight years outside of real estate — handed Sajwan’s family a stake of $1.2 billion through their Renew Group Pte., according to filings reviewed by the Bloomberg Billionaires Index for the first time. Renew has a majority stake of more than 60% in UltraGreen. While Sajwan runs the company, he has no direct stakes in it, according to filings. Instead, his sister Indu Rawat and her husband, Mahipal Singh Rawat, are the ultimate beneficiaries of the windfall through a little-known entity called The Saul Trust, the filings show. That entity invests globally in a variety of assets via Singapore-based Renew, of which Sajwan is CEO. Indu and Mahipal run a Hindu monastery, or ashram, in India called Hanslok that was founded by Mahipal’s father. Entities linked to the two have registered addresses in Singapore, as does Indu, who holds a permanent resident status in the city-state, according to filings. Indu and Mahipal did not respond to written requests for comment. Profitable Niche UltraGreen’s dye, paired with a handheld camera, allows surgeons to observe blood flows in their patients. That niche but critical component of surgery had been dominated by companies such as Michigan-based Stryker Corp. and Japan’s Daiichi Sankyo Co. before UltraGreen’s ascent. About a decade ago, Sajwan bought a firm producing the...
(RTTNews) - The Singapore stock market bounced higher again on Tuesday, one day after snapping the two-day winning streak in which it had gathered more than 80 points or 1.7 percent. Now at a fresh record closing high, the Straits Times Index sits just above the 4,920-point plateau although it may head south again on Wednesday. The global forecast for the Asian markets suggests mild upside, booste...
(RTTNews) - The Singapore stock market bounced higher again on Tuesday, one day after snapping the two-day winning streak in which it had gathered more than 80 points or 1.7 percent. Now at a fresh record closing high, the Straits Times Index sits just above the 4,920-point plateau although it may head south again on Wednesday. The global forecast for the Asian markets suggests mild upside, boosted by gains from the oil, gold and technology sectors. The European and U.S. markets were mixed to higher and the overbought Asian bourses may see mild upside - although they may see profit taking later in the day. The STI finished sharply higher on Tuesday following gains from the financial shares, property stocks and industrial issues. For the day, the index improved 62.09 points or 1.28 percent to finish at the daily high of 4,923.02 after trading as low as 4,880.60. Among the actives, CapitaLand Ascendas REIT slipped 0.35 percent, while CapitaLand Integrated Commercial Trust fell 0.42 percent, CapitaLand Investment strengthened 1.64 percent, City Developments soared 2.94 percent, DBS Group rallied 1.68 percent, Genting Singapore advanced 0.69 percent, Hongkong Land jumped 1.69 percent, Keppel DC REIT lost 0.45 percent, Keppel Ltd improved 0.64 percent, Mapletree Industrial Trust added 0.48 percent, Mapletree Logistics Trust vaulted 1.48 percent, Oversea-Chinese Banking Corporation accelerated 1.81 percent, SATS perked 0.26 percent, Seatrium Limited shed 0.48 percent, SembCorp Industries sank 0.50 percent, Singapore Airlines dropped 0.93 percent, Singapore Exchange expanded 1.09 percent, Singapore Technologies Engineering gained 0.43 percent, SingTel spiked 2.91 percent, Thai Beverage climbed 1.05 percent, United Overseas Bank eased 0.13 percent, UOL Group skyrocketed 8.02 percent, Wilmar International surged 4.48 percent, Yangzijiang Shipbuilding rose 0.30 percent and DFI Retail Group, Mapletree Pan Asia Commercial Trust, Frasers Logistics & Commercial Trust and Frasers ...
A French court has found a former senator guilty of drugging a female lawmaker with ecstasy with intent to sexually assault her. Joël Guerriau, 68, was sentenced to four years in prison on Tuesday, of which 18 months must be behind bars. The high-profile trial of the former senator comes months after France was stunned by a case that saw Frenchman Dominique Pelicot jailed for 20 years for repeated...
A French court has found a former senator guilty of drugging a female lawmaker with ecstasy with intent to sexually assault her. Joël Guerriau, 68, was sentenced to four years in prison on Tuesday, of which 18 months must be behind bars. The high-profile trial of the former senator comes months after France was stunned by a case that saw Frenchman Dominique Pelicot jailed for 20 years for repeatedly drugging his then-wife so he and dozens of strangers could rape her. National Assembly MP Sandrine Josso said shortly after Tuesday’s verdict that it was a “huge relief”. Guerriau’s lawyers said he would appeal. French prosecutors had sought a four-year prison sentence for the former senator, who described the drugging of his friend of 10 years in November 2023 as an accident and called himself an “idiot”. Guerriau, who has denied any sexual motivation against Josso, resigned from the upper house in October. He was expelled from the centre-right Horizons party soon after. On Monday, a visibly distressed Josso, 50, said she thought she would die after going to see Guerriau at his apartment in the French capital’s chic 6th district. She told the Paris court that she had gone to see Guerriau “with a light heart to celebrate his re-election. As the evening went on, I discovered an attacker.” She was the only guest at his Paris home that evening, and after he poured her a glass of champagne in the kitchen, she noted it tasted sweet and sticky. “I thought maybe it was a bad champagne. Then he insisted that we toast again. I found that odd,” she said in court. Josso described soon feeling unwell with a racing heartrate, and she left hurriedly before going to hospital. A toxicology report revealed a high dose of the drug in her blood. Ecstasy was also found at Guerriau’s flat. Her lawyer, Arnaud Godefroy, said the lawmaker has struggled with the consequences of what had happened to her. Godefroy said Josso had taken six months off work, during she had “physical treatment, psycho...
Key Points Nuclear power is a growth industry driven by the needs of all the data centers we've already built. Cameco is well-positioned as the second-largest uranium producer in the world. The company is enjoying a revenue growth trend, and tariff carve-outs for Canadian energy products will help it along. 10 stocks we like better than Cameco › Many in the financial media have expressed concerns ...
Key Points Nuclear power is a growth industry driven by the needs of all the data centers we've already built. Cameco is well-positioned as the second-largest uranium producer in the world. The company is enjoying a revenue growth trend, and tariff carve-outs for Canadian energy products will help it along. 10 stocks we like better than Cameco › Many in the financial media have expressed concerns over an artificial intelligence (AI) bubble, and it's no wonder why. AI stocks have been on a seriously big and incredibly fast run over the past couple of years. The parallels to the dot-com crash are easy to draw. Both that event and the current AI bull market centered on incredible new technologies that promise to change the way we live and work. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » While the internet has already done that, and AI certainly has the potential to do the same, possible over-speculation and billions of dollars pouring into AI have cast doubts on the short-term viability of AI investment. Fortunately, you can protect yourself from any potential AI bubble popping while still capturing some gains if the bull market in AI continues. Canada's Cameco (NYSE: CCJ) is the way to do it. Power with the intensity of ten thousand suns Cameco, as a uranium miner, is integral to powering AI's energy needs. But even without AI, focus on alternative energy and the shortcomings of other low-carbon alternatives like wind and solar is seeing many countries giving nuclear another look. The United States is no exception. The Department of Energy has set a goal to triple America's nuclear capacity by 2050. The U.S. is already the world's largest nuclear energy generator by volume, but it only makes up about 21% of the country's total energy output. All of America's 94 operating nuclear reactors need uranium. So will the 10 planned Westinghouse reactors the government pledged $80 billi...
Seven out of 10 mothers in the UK feel overloaded and almost half have a mental health issue such as anxiety or depression, new research has revealed. The survey of mothers’ experiences in 12 European countries also found that most of those in Britain still do the majority of household tasks and caregiving work alone, and that the UK was among the worst for motherhood disadvantaging a woman’s care...
Seven out of 10 mothers in the UK feel overloaded and almost half have a mental health issue such as anxiety or depression, new research has revealed. The survey of mothers’ experiences in 12 European countries also found that most of those in Britain still do the majority of household tasks and caregiving work alone, and that the UK was among the worst for motherhood disadvantaging a woman’s career. The grim picture that emerged from the report, by the pan-European campaign group Make Mothers Matter, prompted calls for GPs and NHS maternity and health visiting services to routinely ask mothers about their mental wellbeing and provide much more help to those who need it. Make Mothers Matter surveyed 800 mothers in each of 12 European countries about the psychological impact of giving birth and dealing with the pressures of motherhood. It found that: 71% of UK mothers feel overloaded – 4% more than the 67% European average 47% of UK mothers suffer from mental health issues, including burnout, compared with 50% in Europe as a whole 31% of UK respondents felt motherhood had a negative effect on their career, higher than the 27% average, with Ireland the highest on 36% However, it also found some measures by which mothers in the UK find it easier to balance work and caring. For example, 11% said their partner did not take paternity leave – far lower than the 25% average across the 12 countries. And while 32% in Britain said their role is not recognised by society, the average across Europe was 41%. The 12 countries were the UK, Ireland, Belgium, Germany, France, Italy, Spain, Poland, the Czech Republic, Portugal, Sweden and Slovakia. Prof Alain Gregoire, a perinatal psychiatrist and honorary president of the Maternal Mental Alliance UK, said that, despite improvements in NHS care in recent years, too many mothers were left “suffering in silence”. “Much of the suffering maternal mental ill-health causes goes undetected, despite mothers’ repeated contact with maternity st...
A two-year-old has become the holder of two Guinness World Records by becoming the youngest person to perform a pair of trick shots in snooker. Manchester toddler Jude Owens successfully performed a pool bank shot at two years and 302 days old on 12 October last year. The spectacle followed the child completing a snooker double pot just five weeks beforehand, when he was two years and 261 days old...
A two-year-old has become the holder of two Guinness World Records by becoming the youngest person to perform a pair of trick shots in snooker. Manchester toddler Jude Owens successfully performed a pool bank shot at two years and 302 days old on 12 October last year. The spectacle followed the child completing a snooker double pot just five weeks beforehand, when he was two years and 261 days old. The achievements make Jude officially the youngest person ever to perform both trick shots, as well as being one of the youngest double record holders in Guinness World Records history. Jude’s father, Luke Owens, first noticed his son’s natural ability at home, where snooker quickly became the toddler’s favourite hobby. Jude Owens attempting a snooker shot. He said: “I think I realised once he put the cue through his fingers and it was dead natural the way he did it.” Owens said that he would use bar stools for his son to reach the table given his height, but that the family now uses a stool they originally used while cooking. He added: “I think for me, Jude’s achieved quite a lot in such a short space of time. But for him to achieve not just one, but two world records, it’s probably the pinnacle moment. How do you even beat that in life?” View image in fullscreen Jude Owens is one of the youngest double record holders in Guinness World Records history. Photograph: GWR/PA The authority on world records said that Jude was given a special walk-out entrance at the 2025 UK Championship and that he was the youngest-known person to have a sponsorship in the sport. Owens said: “I started playing when I was 10 and obviously Jude started playing when he was two. But I’d say Jude’s got a lot more natural ability than myself.” When asked who would win in a snooker match between him and his father, Jude replied confidently: “Me.” Jude’s family said he was a devoted Manchester United fan and “obsessed” with Bruno Fernandes. The editor-in-chief of Guinness World Records, Craig Glenday,...
A cryptocurrency company advised by George Osborne has been banned from showing a set of adverts that suggested using its services could be a solution to the cost of living crisis. Coinbase, which appointed the former Conservative chancellor to chair its global advisory council last year, has been told by the UK’s advertising watchdog that its adverts were “irresponsible” and “trivialised the risk...
A cryptocurrency company advised by George Osborne has been banned from showing a set of adverts that suggested using its services could be a solution to the cost of living crisis. Coinbase, which appointed the former Conservative chancellor to chair its global advisory council last year, has been told by the UK’s advertising watchdog that its adverts were “irresponsible” and “trivialised the risks of cryptocurrency”. The adverts from the US crypto exchange include a sarcastic two-minute video showing people singing “everything is just fine, everything is grand” as their home falls into a state of disrepair and suffers a power cut, while outside Britons cheerfully dance through streets littered with rats and piles of overflowing bin bags. As the ad progresses, a shopper faces rising prices for fish fingers in a supermarket, white-collar workers lose their jobs, a sewage pipe bursts and rubbish falls from the sky. The clip ends with large text saying: “If everything’s fine, don’t change anything”, before being replaced with the Coinbase logo. The company, which was founded in 2012, provides a platform for people to buy and sell various cryptocurrencies. The Advertising Standards Authority (ASA) said the advertising campaign, which launched in August, implied that using Coinbase could be an alternative to the financial concerns associated with the cost of living, and so trivialised the risks associated with investing in cryptocurrencies. “We considered that using humour to reference serious financial concerns, alongside a cue to ‘change’, risked presenting complex, high-risk financial products as an easy or obvious response to those concerns,” it said. Osborne was appointed in December to run Coinbase’s global advisory council to assist with the company’s lobbying in the UK and EU, having already been an adviser to the company for the past two years. The company’s chief policy officer at the time said Osborne would play an “active role in helping us with policymakers ...
There are roughly 370,000 nuclear bunkers in Switzerland, a legacy of the Cold War that are now rarely used. One of them, though, is a hive of activity. Every week, more than a ton of gold is hauled in to the high-security vault, owned by crypto giant Tether Holdings SA , which is now the world’s largest known hoard of bullion outside of banks and nation states. Over the past year, Tether has quie...
There are roughly 370,000 nuclear bunkers in Switzerland, a legacy of the Cold War that are now rarely used. One of them, though, is a hive of activity. Every week, more than a ton of gold is hauled in to the high-security vault, owned by crypto giant Tether Holdings SA , which is now the world’s largest known hoard of bullion outside of banks and nation states. Over the past year, Tether has quietly become one of the biggest players in the global gold market — the embodiment of a meeting of the crypto and gold worlds whose shared distrust of government debt is a major factor behind the surge in prices to never-before-seen highs above $5,100 an ounce. And yet relatively little is known about its inner workings, or its gold strategy. When two of the most senior gold traders quit leading bullion bank HSBC Holdings Plc last year, the industry was abuzz with gossip about where they would head next; few guessed that the answer was Tether . In an interview with Bloomberg, chief executive Paolo Ardoino described the company’s role in the gold market as similar to that of a central bank, and predicted that Washington’s geopolitical rivals would launch a gold-backed alternative to the dollar. He revealed that it plans to keep ploughing its enormous profits into gold, while also beginning to compete with banks in trading the metal. “We are soon becoming basically one of the biggest, let’s say, gold central banks in the world,” he said. Even in these historic times for the gold market, Tether’s activities stand out. It has rapidly stepped up its purchases, buying over 70 tons of gold over the course of last year for its reserves and its own gold stablecoin, according to a Bloomberg calculation. That’s more than was reported by almost any single central bank: only Poland, which added 102 tons to its reserves, made larger declared purchases. It is also more than was bought by any but the three largest exchange-traded funds, which represent the collective activity of tens of thou...
AI boom will produce victors and carnage, tech boss warns 25 minutes ago Share Save Faisal Islam , Economics editor and Oliver Smith , Business reporter Share Save AI is going to "change everything", says Cisco boss Chuck Robbins Winners will emerge from the Artificial Intelligence (AI) boom, but there will be "carnage along the way", the boss of a US tech giant has warned. Chuck Robbins, chairman...
AI boom will produce victors and carnage, tech boss warns 25 minutes ago Share Save Faisal Islam , Economics editor and Oliver Smith , Business reporter Share Save AI is going to "change everything", says Cisco boss Chuck Robbins Winners will emerge from the Artificial Intelligence (AI) boom, but there will be "carnage along the way", the boss of a US tech giant has warned. Chuck Robbins, chairman and chief executive of Cisco Systems, told the BBC the technology will be "bigger than the internet", but the current market is probably a bubble and some companies "won't make it". Cisco, one of the world's leading technology companies, is behind some of the critical IT infrastructure enabling day-to-day use of AI. Robbins said some jobs will be changed, or even "eliminated", by AI, particularly in areas like customer services where companies will need "fewer people", but urged workers to embrace, not fear, the technology. His comments follow a series of warnings over the recent surge in investment in AI, with some claiming the sector amounts to a bubble set to burst, rocking markets and bankrupting companies. The BBC has been told of similar concerns by leading figures in finance and tech. JPMorgan Chase boss Jamie Dimon said some of the money invested in AI would "probably be lost", while Google parent company Alphabet's chief executive Sundar Pichai said there was some "irrationality" in the AI boom. Sceptics compare the supposed bubble to the dotcom boom and bust of the late 90s. Cisco was the world's most valuable company in the year 2000, but saw its value fall by 80% when the dotcom bubble burst. It has since rebuilt, and now partners with firms such as Nvidia, providing the essential infrastructure underpinning AI. Despite having £1.3bn in orders in the current quarter alone, Robbins is alive to comparisons with the dotcom collapse. "There's been a lot of discussion about: 'Is this a bubble?'. And the answer is probably yes, but we had a bubble in 2000 with the in...