Tesla boss Elon Musk says shareholder votes on a record-breaking payout to the multi-billionaire and a plan to move the firm’s legal headquarters to Texas are “currently passing by wide margins”. Tesla shareholders have been voting on several proposals, including one that could confirm a pay deal for Mr Musk, that was worth $56bn (£43.8bn)
A British bank that escaped prosecution for money laundering carried out billions of dollars of transactions for funders of terrorist groups, US court papers allege. Standard Chartered, one of the UK’s largest banks, avoided prosecution by the US Department of Justice after Lord Cameron’s government intervened on its behalf in 2012. New documents filed to
People spending less, doctors’ strikes and a fall in school attendance dragged the UK into recession at the end of last year, official figures show. The economy shrank by a larger than expected 0.3% between October and December, after it had already contracted between July and September. The UK is in recession if it fails
Japan has unexpectedly fallen into a recession after its economy shrank for two quarters in a row. The country’s gross domestic product (GDP) contracted by a worse-than-expected 0.4% in the last three months of 2023, compared to a year earlier. It came after the economy shrank by 3.3% in the previous quarter. The figures from
Procter & Gamble has said sales of high-end SK-II skincare brands fell 34% between October and December. Procter & Gamble has reported that sales of its high-end SK-II skincare brand fell by 34% between October and December, which the firm’s executives attributed to anti-Japanese sentiment in addition to China’s slow recovery12. Last year, Japan began releasing treated radioactive water from
Netflix sign-ups boomed at the end of last year as customers prodded by the firm’s crackdown on password-sharing created their accounts. Netflix’s crackdown on password-sharing led to a surge in sign-ups at the end of last year, with the streaming giant adding more than 13.1 million subscriptions in the three months ended in December, the most for
Six people have been arrested on suspicion of a plot to disrupt the London Stock Exchange. The Met Police said information suggested activists from the Palestine Action group were intending to target the exchange on Monday. The force said it was believed those involved were planning to cause damage and “lock on” to stop the
Inflation is at risk of rising again, according to a leading economist, following attacks on ships using a vital trade route through the Red Sea. Mohamed El-Erian said while disruption to shipments was not as severe as during Covid, he warned it would push up prices and hit economic growth. Several shipping firms have stopped
Artificial intelligence is set to affect nearly 40% of all jobs, according to a new analysis by the International Monetary Fund (IMF). IMF’s managing director Kristalina Georgieva says “in most scenarios, AI will likely worsen overall inequality”. Ms Georgieva adds that policymakers should address the “troubling trend” to “prevent the technology from further stoking social tensions”. The
Comic book writer David Crownson is fearful that artificial intelligence (AI) is “going to put a lot of people out of work” in his industry. “With studios and big-name publishers looking for ways to save money and cut corners, they will no doubt use AI technology,” he says. As the growth of AI surged to
