Old is M Night Shyamalan at his best: ambitious, abrasive and surprisingly poignant


Tech shares slide after SoftBank sells Nvidia stake; UK interest rate cut expected in December – as it happened
Several economists are predicting the Bank of England could cut interest rates as soon as December, following this morning’s weak jobs report.And looking further ahead, the money markets are now indicating they expect 65 basis points of BoE rate cuts by the end of next year, up from 55 bps on Monday. That means two quarter-point cuts by December 2026 are fully priced in, with a third now more likely.Suren Thiru, economics director at ICAEW (the Institute of Chartered Accountants in England and Wales), reckons the odds of a rate cut next month have risen, now that unemployment has jumped to 5% and wage growth has slowed.“These figures suggest that the UK’s labour market is suffering from pre-Budget jitters, as businesses already weakened by April’s rise in national insurance look to cut recruitment further in anticipation of another difficult Budget

SoftBank sells stake in Nvidia for $5.8bn as it doubles down on OpenAI bets
The Japanese technology investor SoftBank intensified the debate about valuations in the artificial intelligence world on Tuesday by revealing it had sold its stake in the chipmaker Nvidia.In its latest quarterly results, SoftBank showed it had sold its shares in Nvidia for $5.8bn (£4.4bn) in October, as it doubles down on its bets on OpenAI, the group behind the ChatGPT chatbot. It also reported that second-quarter net profit more than doubled to 2

‘You can’t spend your whole life trying to stop a McDonald’s’: how the fast-food chain keeps opening new Australian stores
When a McDonald’s representative appeared before a local council in Melbourne on Monday night to defend its plan for a new 24-hour store in the area, he tried to reassure locals the proposal was “modest and efficient”.Despite that, Darebin city council listened to impassioned submissions – including a petition of more than 11,000 signatures – and voted 6-3 to reject the plan to open an outlet on trendy High Street in the inner-north suburb of Northcote.What comes next? As some Darebin councillors noted before voting, the rejection of the McDonald’s sets the council up for a potential costly legal confrontation should the company appeal against the decision in the Victorian civil and administrative tribunal (Vcat). McDonald’s has confirmed it intends “to pursue all available avenues to progress this site”.McDonald’s – which has more Australian restaurants than any other fast-food company apart from Subway – has been foiled before, tried again and, in many cases, succeeded

UK grocery price inflation slows as retailers launch pre-Christmas promotions
The pace of grocery inflation in Britain slowed last month as retailers ramped up promotions before Christmas, providing a little relief for consumers bracing for further tax rises in this month’s budget.Grocery inflation stood at 4.7% in the four weeks to 2 November, easing from 5.2% in the previous four weeks, according to figures from Worldpanel by Numerator, formerly known as Kantar.Official data published last month showed overall UK inflation held steady at 3

UK unemployment rises to 5%, the highest level in four years
The UK unemployment rate has risen by more than expected to reach its highest level in four years, fuelling expectations of a Bank of England interest rate cut after Rachel Reeves’s budget.With under three weeks to go before the chancellor’s tax and spending statement, figures from the Office for National Statistics (ONS) show the headline unemployment rate rose to 5.0% in the three months to the end of September, up from 4.8% in the previous quarter.City economists had forecast an increase to 4

Rising unemployment could affect budget, interest rates, pay and more
There are significant implications from the latest unemployment figures showing a rise from 4.8% in August to 5.0% in September, not least for the 1.8 million people it directly affects.Rachel Reeves will be mulling over how to avoid depressing the economy and putting even more people out of work while raising tens of billions of pounds in extra tax in her upcoming budget

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