Reeves to say cuts to City red tape will bring trickle-down benefits to households
JP Morgan chief defends independence of Fed chair amid Trump attacks
The boss of JP Morgan Chase, Jamie Dimon, has defended the “absolutely critical” independence of the Federal Reserve chair, as Donald Trump continues to demand immediate cuts in interest rates.The US treasury secretary, Scott Bessent, said on Tuesday that a formal process for choosing a successor to the Fed chair, Jerome Powell, had already begun – despite the fact that his term does not end until next May.Trump has repeatedly criticised Powell, calling him “very dumb” and a “major loser”, and urging him to slash interest rates. The president posted a handwritten note to Powell on social media last week, saying: “You have cost the USA a fortune and continue to do so. You should lower the rate – by a lot!”Powell has said in turn that rate cuts have been delayed by Trump’s tariff policies, which many policymakers fear will boost inflation
BAE Systems says it is ‘confident’ of receiving orders for Typhoon jets
The British weapons manufacturer BAE Systems has said it is confident of receiving further export orders for the Typhoon fighter jet, a development that would secure the future of several hundred jobs at its factory in Lancashire.The company is hoping for as many as 150 more orders for the jet, with up to two-thirds of those expected to be assembled in the UK. It comes after Unite, a union representing manufacturing workers, raised concerns over the future of the assembly line at Warton.Richard Hamilton, who leads work on the Typhoon for BAE Systems, said he was “really confident” of future orders, with Turkey, Qatar and Saudi Arabia the likely buyers.FTSE 100 manufacturer BAE Systems is the UK’s dominant defence maker, producing weapons ranging from tanks, to warships and nuclear submarines, as well as fighter jets
Elon Musk’s Grok chatbot melts down – and then wins a military contract
Hello, and welcome to TechScape. This week, Elon Musk’s X, formerly Twitter, saw its artificial intelligence chatbot Grok go Nazi. Then its CEO resigned. In the past three years of Musk’s ownership of the social network, it feels like X has weathered at least one public crisis per week, more often multiple.Last week, Musk’s artificial intelligence firm, xAI, saw its flagship chatbot Grok declare itself a super-Nazi, referring to itself as “MechaHitler”
AI chatbot ‘MechaHitler’ could be making content considered violent extremism, expert witness tells X v eSafety case
The chatbot embedded in Elon Musk’s X that referred to itself as “MechaHitler” and made antisemitic comments last week could be considered terrorism or violent extremism content, an Australian tribunal has heard.But an expert witness for X has argued a large language model cannot be ascribed intent, only the user.xAI, Musk’s artificial intelligence firm, last week apologised for the comments made by its Grok chatbot over a 16-hour period, which it attributed to “deprecated code” that made Grok susceptible to existing X user posts, “including when such posts contained extremist views”.Sign up for Guardian Australia’s breaking news emailThe outburst came into focus at an administrative review tribunal hearing on Tuesday where X is challenging a notice issued by the eSafety commissioner, Julie Inman Grant, in March last year asking the platform to explain how it is taking action against terrorism and violent extremism (TVE) material.X’s expert witness, RMIT economics professor Chris Berg, provided evidence to the case that it was an error to assume a large language model can produce such content, because it is the intent of the user prompting the large language model that is critical in defining what can be considered terrorism and violent extremism content
Future British & Irish Lions tour of France on the agenda at Melbourne summit
A British & Irish Lions tour of France could move a step closer next week when executives hold talks over “a new business model” in Melbourne before the second Test of the series against Australia.Abdel Benazzi, the vice-president of the French federation (FFR), held informal discussions with Lions executives in Dublin before the warm-up match against Argentina, and he will travel to Australia next week to further press his nation’s claims of facing the touring side again, having previously done so in 1989. France have emerged as leading contenders to face the Lions in a warm-up match before the tour of New Zealand in 2029 and, according to Benazzi, could also fulfil the same role before the inaugural women’s tour in 2027, also to New Zealand.More recently, however, there has been a groundswell of support for a tour of France, with leading Top 14 sides such as Toulouse and Bordeaux offering the prospect of competitive warm-up matches before a mouthwatering series against Les Bleus in contrast to the currently one-sided tour of Australia. The former Wales scrum-half Mike Phillips last week became the most recent former Lion to throw his weight behind the prospect, suggesting a tour of France would be a “gamechanger”
Cherished champion and statesman: Usyk focuses on Ukraine before titles
On Monday afternoon, in central London, Oleksandr Usyk looked resplendent on an open-topped black bus as he prepared to send loaded messages to Daniel Dubois, Vladimir Putin and Donald Trump. High in the air he held three fingers on his right hand to signify his intention to become a three-time undisputed world champion. It was a typical sporting gesture and underlined his determination to defeat Dubois at Wembley Stadium on Saturday night and follow his earlier achievements in winning all the belts as a cruiserweight and then, last year, becoming the first boxer to unify the world heavyweight division this century.Usyk remains the WBA, WBC and WBO champion but boxing politics forced him to vacate his IBF title soon after he beat Tyson Fury in their magnificent first world title unification fight 14 months ago in Riyadh. He looks ready now for the dangerous challenge of Dubois, the new IBF champion, but Usyk’s arrival in London was a timely reminder of the far more significant role he plays in Ukraine
UK ex-Middle East minister accused of transparency rule breach over Bahrain advisory role
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Is Reform UK a radical party or a home for ‘disgruntled former Conservatives’, asks James Cleverly
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Resident doctors’ strikes would be gift to Nigel Farage, warns Wes Streeting
UK politics: Tories’ energy policy shows they are ‘anti-science, anti-jobs, anti-future’ Miliband tells MPs – as it happened