UK long-term borrowing costs dip from 28-year high after Starmer allies back PM – business live

UK government borrowing costs are still elevated as noon approaches, but not quite as high as they were.Bond yields have dipped back after Keir Starmer told the cabinet he was not resigning.After that meeting, several cabinet ministers including Peter Kyle, the business secretary, Liz Kendall, the technology secretary, and housing secretary Steve Reed told reporters they were supporting Starmer.The 30-year bond yield is now up 9 basis points at 5.76%, having hit a new 28-year high of 5

UK borrowing costs hit highest since 1998 amid Starmer uncertainty

Long-term UK borrowing costs have soared to the highest level in almost three decades amid fears about a change of Labour leadership, before dropping back as cabinet ministers rallied around Keir Starmer.With investors worried about potential changes to Labour’s tax and spending plans, the yield – in effect the interest rate – on 30-year government bonds jumped 11 basis points on Tuesday morning to 5.794%, the highest since May 1998.Yields later fell back slightly, after the prime minister told a cabinet meeting on Tuesday morning that he would not resign and that the process for a leadership challenge had not been triggered. Shortly before the meeting, Miatta Fahnbulleh became the first minister to resign since Labour’s significant losses at last week’s local and devolved elections, calling on Starmer to quit

Trump heads to China to spread the gospel of American tech while emulating Xi Jinping on AI

Donald Trump is heading to China this week. If his guest list is any clue, he wants to discuss technology with Xi Jinping, though perhaps after the war in Iran.On Monday, news broke that outgoing Apple CEO, Tim Cook, as well as SpaceX and Tesla CEO, Elon Musk, would join the US president. Other guests from the tech sphere include Meta’s recently appointed president, Dina Powell McCormick; Sanjay Mehrotra, CEO of computer memory maker Micron; Chuck Robbins, CEO of longtime telecom giant Cisco; and Cristiano Amon, CEO of semiconductor maker Qualcomm, according to a White House official.Jensen Huang, Nvidia’s CEO – who is close to Trump but criticized the US’s limitations on chip sales to China in an April interview, saying that he didn’t want a “loser mentality” to cost the US its edge in AI – will not be joining the president

Texas accuses Netflix of spying on children in new lawsuit

Texas sued Netflix on Monday, accusing the streaming company of spying on children and designing its platform to be addictive.Ken Paxton, the Texas attorney general, said Netflix has for years falsely represented to consumers that it did not collect or share user data, when it actually tracked and sold viewers’ habits and preferences to commercial data brokers and advertising technology companies, making billions of dollars a year.The Los Gatos, California-based company was also accused of quietly using “dark patterns” to keep users watching, including an autoplay feature that starts a new show when a different show ends. Netflix did not immediately respond to requests for comment.Texas’s complaint follows a spate of lawsuits targeting tech companies over features that the plaintiffs have said are addictive and dangerous to children

Bryson DeChambeau could give up golf for YouTube in his athletic prime. Is he right?

The two-time major champion has mused about life as a full-time streamer. But sport should be more than just a platform to grow an athlete’s brandGolf: a feeder sport for aspiring YouTubers? When Bryson DeChambeau, faced with the expiry of his LIV Golf contract at the end of this year and the implosion, possibly even sooner, of the now Saudi-less LIV Golf, mused last week that he might give up life on tour to focus on his YouTube channel, most professional golf watchers scoffed. This was just a bluff, a move to gain leverage as DeChambeau, like every other LIV player, contemplates an uncertain future and negotiates the fraught path back to the PGA Tour.“I think, from my perspective, I’d love to grow my YouTube channel three times, maybe even more,” DeChambeau said. “I’d love to do a bunch of dubbing in different languages, giving the world more reason to watch YouTube

The Breakdown | Frontrunners’ defeats hint at twists and turns to come in Prem Rugby finale

There are small but significant moments in every league campaign. Until the weekend it was widely assumed that Northampton and Bath, the two frontrunners in the English Prem, were all but nailed on for home semi-finals and, by extension, would almost certainly meet in the grand final at Allianz Stadium in Twickenham on 20 June.That could still happen but, suddenly, others are entering the chat. Not only did Saints and Bath lose at the weekend but both were well beaten, 41-17 by Leicester and 35-12 by Exeter respectively. Bath, including their Champions Cup semi-final in Bordeaux, have lost three games on the trot