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Did Taylor Swift Impact UK Inflation?
LONDON (AP) — The Bank of England is facing a dilemma about whether to cut interest rates next month after official figures Wednesday showed inflation holding steady at its target against expectations of a modest decline, possibly as a result of Taylor Swift’s Eras Tour. The Office for National Statistics said inflation, as measured by the consumer price index, remained at the bank's 2% target in the year to June. Most economists had predicted a decline to 1.9% as lower domestic energy bills filter through. The statistics agency said the largest upward contribution to the annualized inflation rate came from restaurants and...
Microsoft Faces UK Competition Investigation Over AI Startup Hiring
LONDON (AP) — British regulators opened a preliminary investigation on Tuesday into Microsoft’s hiring of an AI startup’s key staff over concerns that it could thwart competition in the booming artificial intelligence market. The Competition and Markets Authority said its review of the hirings from Inflection AI, including its co-founder and CEO Mustafa Suleyman, turned up “sufficient information” to open an investigation. Microsoft hired Suleyman to head up its consumer artificial intelligence business earlier this year, and brought over several top engineers and researchers. Suleyman co-founded the AI research lab DeepMind, which is now owned by Google, before setting up Inflection and...
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