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Finance

UK economy grows by 0.7% in third quarter despite high oil prices

ONS also says GDP rose 0.2% month on month in September, in a boost to the chancellor, John Healey The UK economy grew by 0.7% in the third quarter, as expected by City analysts, confirming that consumers and businesses remained resilient despite high oil and gas prices. The Office for National Statistics said a jump in the cost of petrol, diesel and natural gas prices following the re-escalation of the conflict in the Middle East played an important role in restricting economic growth in the three months to the end of September. Continue reading...

The Guardian
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Finance

Nvidia board reportedly meeting to decide CEO Jensen Huang’s future as chip giant’s share price plunges – follow live

This live blog is now paused – but you can read the latest report on Nvidia and Jensen Huang’s future as CEO here Too big – and too well-connected – to sack? Huang does not enjoy the supercharged voting rights that are par for the course elsewhere – his shareholding is a plain vanilla 3.6%. On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate governance wonks outside the US. Continue reading...

The Guardian
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Military

Fewer hours and higher wages – or more burnout and surveillance: employers told to prepare for AI

Workplace relations minister Amanda Rishworth launches best practice guide on AI adoption after Qantas and Canva job cuts Entry-level jobs will be the first to be automated due to AI, but it could mean fewer hours and higher wages for ordinary workers – or make jobs tougher with more burnout and workplace surveillance - the government has warned employers. While major companies like Qantas and Canva slash their workforces in restructures spurred by AI changes, workplace relations minister Amanda Rishworth said employers must give workers “a clear plan” about how automation could affect their j

The Guardian
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