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Share values of property services firms tumble over fears of AI disruption

about 4 hours ago
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Shares in commercial property services companies have tumbled, in the latest sell-off driven by fears over disruption from artificial intelligence.After steep declines on Wall Street, European stocks in the sector were hit on Thursday.The estate agent Savills’ shares fell 7.5% in London, while the serviced office provider International Workplace Group, which owns the Regus brand, lost 9%.The UK’s two biggest property developers, British Land and Landsec, dropped 2.

6% and 2.4% respectively.On Wall Street, property service firms fell for a second consecutive day.CBRE shares plunged 12.5%, Jones Lang LaSalle lost nearly 11% and Cushman & Wakefield fell 9.

1%, after even sharper declines on Wednesday.Commercial property stocks have become the latest sector to be hammered by fears over the impact of rapid advances in AI, as the sell-off spread from legal software, publishing, analytics and data companies last week to insurance firms, price comparison sites and wealth managers this week.The share declines were sparked by AI firms such as Anthropic, the company behind the chatbot Claude, releasing new tools, although there was limited news on Thursday, leading analysts to argue that the sell-off was overdone.AI has the potential to automate a wide range of office-based tasks and could lead to swathes of job losses.There are also concerns among investors that demand for offices could fall, in a blow to property companies.

Jade Rahmani, commercial real estate analyst at New York-headquartered Keefe, Bruyette & Woods, said: “We believe investors are rotating out of high-fee, labour-intensive business models viewed as potentially vulnerable to AI-driven disruption,”However, he believes that the sell-off “may overstate the immediate risk to complex deal-making, even as the long-term AI impact remains a ‘wait-and-see’”,Dallas-based CBRE on Thursday reported fourth-quarter revenue of $11,6bn (£8,5bn), up 12%, and core earnings per share of $2.

73, above analysts’ estimates.In 2025, revenues rose by 13% to $40.6bn.The real estate services firm forecast 2026 profit above Wall Street estimates, on the back of strong momentum in leasing and facilities management, as the number of datacentres rapidly expands and billions of dollars flow into AI infrastructure.CBRE’s chief executive, Bob Sulentic, believes AI will benefit the business in the long run, with its transaction and investment work “most protected” from disruption.

“Clients engage CBRE to plan and execute complex transactions because of our creativity, strategic thinking, negotiating skills, deep base of market knowledge and broad relationships,” he said.“None of this seems likely to be replaced by AI in the foreseeable future.”
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Jon Stewart calls Maga backlash to Bad Bunny’s Super Bowl show ‘actually pathetic’

Late-night hosts addressed the performative Maga outrage over Bad Bunny’s Super Bowl half-time show.Jon Stewart returned to his Monday night Daily Show post fired up about the Super Bowl, and particularly the outrage from conservative pundits such as Megyn Kelly and Benny Johnson over Bad Bunny’s half-time show, which he performed, as usual entirely in Spanish.Stewart played numerous clips of Fox News hosts et al complaining that they couldn’t understand the Spanish, then cut to a clip of Turning Point USA “All-American Halftime Show” headliner, Kid Rock, singing his hit Bawitdaba, with its gibberish chorus.The host then tore into the rightwing talking point that Bad Bunny’s half-time show, whose overarching theme was pan-American unity, was not “unifying” because it was in Spanish. “Why the fuck is it the Super Bowl Halftime entertainer’s job to unify the country? Is that their job?” he fumed

2 days ago
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Eternal Sunshine of the Spotless Mind was never a love story. It was a warning

Eternal Sunshine of the Spotless Mind is a film about the gap between what we think we can control and what happens when reality hits. Over the years, many critics and fans have celebrated Michel Gondry’s film as a tender-hearted love story. But a rewatch might reveal that Gondry’s second collaboration with postmodern American screenwriter Charlie Kaufman is much closer to another, twistier genre: hard sci-fi.By now, the story of Eternal Sunshine is familiar. Depressed introvert Joel (Jim Carrey) meets Clementine (Kate Winslet), whose box-dyed hair colour and moods change as often as the weather

2 days ago
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Actor Catherine O’Hara died of a blood clot in her lungs, death certificate says

Catherine O’Hara, the Emmy-winning actor and beloved star of the series Schitt’s Creek and the 1990 hit movie Home Alone, died from a blood clot in her lungs, her death certificate revealed Monday.The death certificate released by the Los Angeles county medical examiner’s office also listed rectal cancer as an underlying cause.The Canadian-born performer was rushed to the hospital on 30 January after having difficulty breathing at her home in the ritzy Brentwood neighborhood of Los Angeles.The 71-year-old, who starred in Beetlejuice and more recently in Apple TV’s Hollywood satire show The Studio, was declared dead a short time later.The actor’s death sent shock waves through Hollywood with tributes pouring in from past co-stars – including Schitt’s Creek creators Eugene and Dan Levy, Beetlejuice’s Michael Keaton and Home Alone’s Macaulay Culkin

3 days ago
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‘We recorded it in a kitchen!’ How China Crisis made Black Man Ray

Ed and I had just come off a long tour of Europe and North America supporting Simple Minds and needed a break. I immersed myself in music-making with a synth, drum machine and a four-track Tascam Portastudio. I was very inspired by Brian Eno. I’d seen the words “found sounds” on his album credits. The notion that any sound could be included in a recording struck me as magical

3 days ago
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Super Bowl: Bad Bunny, the ads and everything but the football – as it happened

Well, I could not tell you a thing about that game – I’ve heard that it was a boring outcome for a boring match-up – but it does not matter: the real winner tonight was Bad Bunny, who delivered a raucous, intricate and wildly ambitious half-time show that exceeded already sky-high expectations. With the world watching and many in the US government actively rooting against him (you can guess who took to Truth Social already), the Puerto Rican artist born Benito Antonio Martínez Ocasio thoroughly stomped on the haters with an exuberant 13-minute show that both honored his roots and championed an expansive view of American unity.It’s hard to overstate how much pressure Bad Bunny was under, as the first all Spanish-language half-time performer at a time when the US government is profiling Spanish speakers for its brutal immigration enforcement campaign. But Benito made the whole affair feel light as a feather, from the sugar cane fields to the bodegas to the rollicking casita party to a full-on real wedding (and surprise duet with Latino pop trailblazer Ricky Martin). Truly, this set was exquisite

4 days ago
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Perth festival 2026: Swan River bursts to life with a stunning trail of stories and light

From dazzling light installations to unexpected conversations on pop-up phones, Perth festival has opened with a timely celebration of culture and communityGet our weekend culture and lifestyle emailAs families gather for sunset at Perth’s Kings Park, a giant golden orb glows on the horizon, shooting ribbons of light into the night sky.“It looks like an upside down jellyfish!” a child shouts gleefully, gazing up at this mysterious beacon. Others watch from park benches or drift slowly around its base, as a gentle wash of sound spills from its centre. The work is called Karla Bidi, translating to “fire trail” in Noongar: a light and sound installation that draws on the ancient practice of lighting campfires along the Derbarl Yerrigan (Swan River), which marks the opening of this year’s Perth festival.Featuring 11 installations stretching from Mandoon (Guildford) to Walyalup (Fremantle), Karla Bidi lights a path between communities along the river – a trail of gathering places that recalls how these banks have always been a place for story and connection

4 days ago
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Jim Ratcliffe apologises for ‘choice of language’ after saying immigrants ‘colonising’ UK

about 5 hours ago
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To revive manufacturing we must first change attitudes towards labour | Letter

about 5 hours ago
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How to deal with the “Claude crash”: Relx should keep buying back shares, then buy more | Nils Pratley

about 3 hours ago
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Share values of property services firms tumble over fears of AI disruption

about 4 hours ago
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Winter Olympics: Chloe Kim goes for gold in women’s snowboard halfpipe – live

about 2 hours ago
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Winter Olympics 2026: Ukrainian athlete kicked out over helmet tribute, Lollobrigida claims dramatic speed skating gold – live

about 2 hours ago