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US president demands compensation for damage incurred by US, complicating standoff with TehranNvidia ⁠has partnered with six major Wall Street financial institutions to raise ⁠more than $500bn (£370bn) capital for artificial intelligence infrastructure.The Nvidia chief executive, Jensen Huang, said on X that the company has ⁠the option to backstop up to $125bn, or 25% of the potential deals. Continue reading...

Apollo, BlackRock, Goldman Sachs and KKR among those working with chipmaker to fund infrastructureNvidia ⁠has partnered with six major Wall Street financial institutions to raise ⁠more than $500bn (£370bn) capital for artificial intelligence infrastructure.The Nvidia chief executive, Jensen Huang, said on X that the company has ⁠the option to backstop up to $125bn, or 25% of the potential deals. Continue reading...

No, Amazon, I do not want to buy another version of the thing I just bought, or any other random object I don’t recognise or understandWe live, as I’m sure someone’s chief growth officer has recently boasted on an earnings call, in a golden age for data capture. Jeff Bezos knows what I buy, read and watch; Mark Zuckerberg will be aware that I recently sold a car transport box for a medium-sized dog. I’ve been ruthlessly conditioned into clicking Accept All Cookies every time I want to

Two senior engineers are leaving company to launch startup amid fears Google is falling behind in AI raceSir Demis Hassabis is stepping down as chief executive of Google DeepMind, in a leadership overhaul of the UK-based AI research lab.Hassabis, a Nobel prize recipient, is leavi

CEO’s pay packet surges to £791,000 as union says public ‘sick of obscene pay’ and bosses ‘feathering own nests’Wessex Water awarded its chief executive an above-inflation pay increase even as the company was banned from paying bonuses because of sewage spills, it has emerged.Ruth Jefferson received a 14% base salary increase in October, from £590,000 to £670,000, before other benefits, according to accounts published this month. It was far above the 3.5% given to workers, and put her

Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad supportBusiness live – latest updatesThe chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany.Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives,

Ursula von der Leyen’s commitment comes after panel of experts calls for restriction for under-13sThe European Commission president, Ursula von der Leyen, has pledged an EU-wide social media ban for children after an expert group called for restrictions for those under 13.“It is clear we need age-appropriate restrictions to platforms,” von der Leyen told reporters after the publication of a report on child safety online. Continue reading...

Outsourcing firm counts cost of failures that left retired UK civil servants without an income for monthsCapita has revealed that the bill for cleaning up its mess at the crisis-hit Civil Service Pension Scheme could wipe up to £40m off annual profits – a day after its chief executive apologised to MPs for a “very poor service”.The company had faced a grilling at a Commons committee hearing on Wednesday, with its chief executive Adolfo Hernandez repeatedly apologising for failures that

Airports have had to use gazebos to shield passengers from sun as they wait to be processed, says Alexander ZinellThe boss of 14 Greek airports has called for a serious overhaul of the EU’s new border checks, after being forced to erect gazebos for passengers to cope with queues.The chief executive of Fraport Greece, Alexander Zinell, joined a growing chorus of critics calling out “fundamental flaws” in the entry-exit system (EES), which requires non-EU passengers to have their fingerp

Ethics and integrity commission chief says overhaul is crucial to help restore trust in standardsAll lobbying of government ministers, aides and senior officials should be publicly declared – from WhatsApp chats to party conference meetings – in a fundamental shake-up of transparency laws, the government’s ethics watchdog has said.A review led by Doug Chalmers, the head of the ethics and integrity commission, has called for a new register to highlight who is lobbying, which policies th

How to hit the 3.5% of GDP spending promise made to Nato would be a matter for the next prime minister, MPs toldThe Treasury has as yet carried out no analysis of the trade-offs necessary for the UK to hit the 3.5% of GDP defence spending promise made to Nato, the department’s chief secretary has said.Under robust questioning in a joint session of the Treasury and defence committees on Wednesday, Lucy Rigby repeatedly said funding additional defence spending would be a matter for “the