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The European parliament is preparing tough new measures over the use of artificial intelligence, including forcing chatbot makers to reveal if they use copyrighted material, as the EU edges towards enacting the world’s most restrictive regime on the development of AI. MEPs in Brussels are close to agreeing a set of proposals to form part
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European stocks extended their gains on Friday as US economic data spurred investor hopes that domestic interest rates would peak in coming months. The region-wide Stoxx 600 rose 0.3 per cent, Germany’s Dax 0.3 per cent and the UK’s FTSE 100 rose 0.2 per cent. France’s Cac 40 pushed on to a record high, up
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It was nearly a decade ago when Intel, then the undisputed leader in global semiconductor manufacturing, made a fateful decision. A new technology, extreme lithography, was offering a way to pack more computing power on to the silicon wafers from which tiny chips, essential for widely used products like smartphones and PCs, are cut. Using
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For about as long as countries have been having recessions, one pattern has consistently appeared in the jobs data: when the economy contracts, employment falls faster and further among men than women and the male employment rate takes longer to recover. In fact, in some instances female employment doesn’t even fall, merely experiencing a slowdown
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Boeing said on Thursday that a production issue will affect its ability to deliver a “significant” number of 737 Max jets, potentially exacerbating aircraft shortages for airlines around the world. The aerospace manufacturer said a supplier had used a “non-standard” process when installing two fittings in the fuselage of certain models of the narrow-body jet,
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The FBI arrested a 21-year-old member of the Massachusetts Air National Guard as part of an investigation into the leak of highly classified US intelligence documents. Attorney-general Merrick Garland identified the suspect as Jack Teixeira in a brief statement to reporters on Thursday. “FBI agents took Teixeira into custody earlier this afternoon without incident,” Garland
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ExxonMobil paid its chief executive $36mn last year, a 52 per cent increase from 2021 and more than double his 2020 pay after Russia’s war with Ukraine led to record profits for oil companies and a windfall for their top executives. The US oil major awarded Darren Woods $25mn in stock last year, up from
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Fox News goes on trial on Monday over some of its anchors’ and correspondents’ suggestions that voting-machine-maker Dominion helped fix the last US presidential election for Joe Biden. The Delaware judge has already made one major ruling: “None of the statements relating to Dominion about the 2020 election are true.” Now Dominion needs only prove
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By now the US Treasury market’s unnerving fragility back in 2020 has been pretty comprehensively dissected. But the Office of Financial Research last week published an interesting new take on one of the freakiest financial mishaps of the past decade. For people blissfully unaware of what happened, in March 2020 Treasuries went from being an
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In October 2020, Zambia, struggling from an economic and financial crisis compounded by the Covid-19 pandemic, first missed an interest payment on its international bonds. Two and a half years later it remains in limbo, unable to resolve the default on most of its $31.6bn debts. That an impoverished and vulnerable country has for so
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The writer is an FT contributing editor There is a clickbait argument that because the Federal Reserve has raised US interest rates so far and so fast, small banks — which provide almost 70 per cent of commercial real estate lending — are likely to see significant defaults, and when those loans go bad they
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We’re a curious bunch, us Brits. We boast two of the most revered and envied universities in the world, Oxford and Cambridge, which have educated huge numbers of global leaders, scientists and cultural figures, and produced all sorts of historically significant discoveries, theories and inventions. And yet calling someone “Oxbridge-educated”, in this country, is often seen
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