Newsletter Mar 22, 2023

Energy bill support pushes UK budget deficit to February record

Britain's government borrowed more than expected in February, official data showed on Tuesday, but finance minister Jeremy Hunt may still hope that falling energy costs and inflation will offer leeway later this year for a pre-election tax cut.

Google launches ChatGPT rival in US and UK

Bard, ChatGPT and other similar artificial intelligence apps churn out essays, poems or computing code on command.

UK's Johnson denies lying over lockdown parties as showdown looms

Britain's former prime minister Boris Johnson said Tuesday he inadvertently misled parliament over the "Partygate" scandal but blamed top aides, ahead of a televised grilling that could determine his political fate.

Cryptoverse: Bitcoin passes the bank stress test

As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven.

Credit Suisse tells Hong Kong clients to 'embrace new reality'

Days after it was rescued in an emergency buyout, Credit Suisse gathered hundreds of clients in an upscale Hong Kong hotel on Tuesday for a glitzy investment conference where they were told to "embrace the new reality".

TikTok CEO says company at 'pivotal' moment as some U.S. lawmakers seek ban

TikTok CEO Shou Zi Chew said the Chinese-owned short video app company faces a pivotal moment as a growing number of U.S.

Goldman Sachs expects commodities supercycle

Goldman Sachs expects a commodities supercycle driven by China and the capital flight from energy markets and investment this month after concerns triggered by the banking sector, the U.S.

EU raids energy drink maker Red Bull in antitrust probe

EU antitrust investigators have raided energy drink maker Red Bull over suspicions it abused its dominance in the wildly popular market, officials said Tuesday.

Google begins opening access to its ChatGPT competitor Bard

Alphabet Inc's Google on Tuesday began the public release of its chatbot Bard, seeking users and feedback to gain ground on Microsoft Corp in a fast-moving race on artificial intelligence technology.

UK food delivery app to axe more than 1,700 jobs

Just Eat Takeaway said its UK division will stop employing its own couriers -- and instead will only use self-employed gig economy workers.

LNG industry's future remains uncertain despite dizzying profits

Global LNG industry to face challenges in the medium-to-long term says IEEFA, predicting that there will be "sustained high global LNG prices and declines in gas consumption in Europe".

Expert reveals steps tech start-ups can take to avoid the financial risks like the SVB collapse

The Silicon Valley Bank collapse proved how important it is for tech start-ups to have measures in place to manage their financial risks, with Charles Fletcher, Partner at Michon De Raya, advising businesses on how they could accomplish this.

Musk sets automated poop emoji response for all press queries

He has now set a poop emoji as an automated response to all press queries after he fired his communications team.

Amazon to lay off 9,000 more workers in second round of job cuts

Tech giant Amazon has decided to cut another 9,000 jobs across its businesses in the latest round of layoffs, according to CEO Andy Jassy.

London police institutionally racist and sexist, report finds

London's Metropolitan Police is institutionally racist, misogynistic and homophobic and unable to police itself, an independent review said on Tuesday, heaping pressure on the Met's new chief to reform Britain's biggest police force.

IMF staff reaches agreement with Ukraine for $15.6 billion program

The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Ukraine for a four-year financing package worth about $15.6 billion, offering funds the country needs as it continues to defend against Russia's invasion.

Microsoft wins dismissal of gamers' suit over $69 billion Activision deal

Microsoft Corp on Monday won dismissal of a private consumer antitrust lawsuit over its $69 billion proposed purchase of "Call of Duty" maker Activision Blizzard Inc, but the plaintiffs were given 20 days to refine their legal challenge.