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Finance

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Finance

Britons stockpiling water and food tins but not panic buying, figures show

Shoppers appear to have taken government’s Be Ready campaign seriously, retail analysts say Business live – latest updates British shoppers have been stocking up on essentials such as bottled water, tinned goods and hand sanitiser, but did not panic buy after the government advised people to prepare for emergencies, shopping data has shown. Sales of essentials jumped in the 10 days after the government launched its Be Ready campaign, which encourages households to prepare for up to three days in the event of disruption to essential services from incidents such as cyber-attacks or extreme weath

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Finance

Author Jojo Moyes among UK travellers at risk of EU ban amid digital border system glitches

Errors in entry and exit records leave some Britons wrongly flagged as having overstayed post-Brexit 90-day limit EU sues IBM and two European firms over entry/exit border system The writer Jojo Moyes is facing a two-year EU travel ban and €10,000 (£8,300) fine because of glitches with the bloc’s digital security controls. She is one of a number of UK travellers who say their trips to the EU have not been properly recorded since the introduction of the EU digital entry and exit system (EES). Continue reading...

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Finance

EU manufacturers could give up on competing with China by 2030, warns commerce chief

Jens Eskelund says Europe may need to allow its companies to become part of Chinese firms’ supply chains Europe’s manufacturers could give up on attempting to compete with their Chinese counterparts by the end of the decade if current trends continue amid fears over mass job losses, the head of the European Union Chamber of Commerce in China has warned. In a case of “if you can’t beat them, join them”, Jens Eskelund said European companies operating in China were now thinking “Made in China for China” could be replaced by a philosophy of “Made in China for the world”. Continue reading...

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Finance

Silicon Valley and Trump rally behind Nvidia CEO after his affair with alleged Chinese spy

Elon Musk and other finance moguls defend Jensen Huang after he admitted to the affair, as Trump says FBI ‘is looking into it’ Nvidia’s board needs to do some succession planning – sharpish Donald Trump, Elon Musk and prominent finance moguls have expressed their support for embattled Nvidia CEO Jensen Huang, as the head of the world’s most valuable chip company faces an internal investigation over a romantic relationship with an alleged Chinese spy. Trump said he has spoken to Huang on Monday as the scandal reverberated across Silicon Valley and the Nvidia CEO faced an uncertain future. Conti

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Finance

Jensen Huang’s image has been shattered. Could he be pushed out at Nvidia?

Huang built Nvidia as a family business but after the co-founder had an affair with an alleged Chinese spy, its board faces a difficult decision For more than 30 years, Jensen Huang has been the seemingly unshakable public face of Nvidia. He co-founded the company as a young engineer in 1993 and oversaw its growth into a multitrillion dollar chipmaker and bellwether of the AI industry at large. He’s also made it a family business. His children, Madison and Spencer, have taken leadership roles at the firm. While not a company executive, his wife, Lori Mills Huang, leads the family foundation wh

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Finance

The French fridge hacks were relatively unsophisticated. An AI-enabled attack would raise the stakes

‘Not particularly complex’ defrosting hack has been attributed to Iran, with presumption it is linked to others across Europe Iranian hackers like to send a message. In 2023 a state-backed group interrupted TV streaming services in the United Arab Emirates to broadcast a deepfake report on the war in Gaza. In the same year, hackers affiliated with Iran displayed the slogan “down with Israel” on the screens of water-control equipment made by an Israeli firm. Continue reading...

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Finance

Boeing to cut about 5% of its commercial plane workforce

Company will cut jobs through a mix of layoffs and attrition as it moderates the pace of ramping up jet production Boeing will cut about 5% of its commercial plane workforce as it moderates the pace of ramping up jet production, the company said on Monday. The company will eliminate the posts through a mix of layoffs and attrition because of a slower ramp-up to “provide our factories and supply chain partners additional time to achieve stability”, said a message to employees from Boeing commercial chief Stephanie Pope. Continue reading...

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Finance

The Guardian view on Jensen Huang’s affair: why did Trump ignore the warnings? | Editorial

The AI chip boss’s actions raise urgent questions about corporate influence, national security and the US president’s willingness to listen to intelligence warnings It could be the plot of a spy thriller. One of the most powerful figures in the AI revolution admitted to having an affair with a Chinese businesswomen said to have passed intelligence to Beijing. When Donald Trump was briefed about the Nvidia co-founder Jensen Huang’s liaisons with Alice Huang, he took no action. Perhaps he thought only marriage vows had been broken. Or perhaps Mr Trump was willing to overlook the conduct of a fri

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Finance

High fossil fuel prices spread inflation ‘like a cancer’, UN climate chief tells Cop31

Simon Stiell makes opening address at summit in Turkey, where talks are under way about speeding up shift to electrification A global fossil fuel price crisis is “spreading inflation like a cancer” around the planet, the UN’s climate chief, Simon Stiell, told the opening plenary of critical UN climate talks in Turkey. Stiell joined Cop31 hosts Turkey and Australia, which is leading the negotiations, in promoting renewable energy and a new electrification goal as an optimistic alternative to a planet still tied to oil, coal and gas. Continue reading...

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