The UK fell into recession during the final three months of last year, official figures show, after the economy shrank by more than expected. Gross domestic product (GDP) – a key measure of economic activity – dropped by 0.3% between October and December. That follows a fall between July and September. The UK is considered…
Elon Musk says he has moved the legal home of his rocket company SpaceX from the US state of Delaware to Texas. Two weeks ago, Mr Musk said electric carmaker Tesla’s shareholders will vote on making the same move. His brain-chip implant firm, Neuralink, has also relocated its legal home to Nevada. Last month, a…
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…
Elon Musk’s X, formerly Twitter, granted subscription perks to designated terrorist groups and others barred from operating in the US, according to campaigners. The Tech Transparency Project (TTP) found X had granted blue check marks to accounts tied to Hezbollah members, among others. For $8 (£6.40) a month, a tick allows longer posts and better…
Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of sales in recent days to more than $4bn ($3.2bn). The technology giant said in regulatory filings that its founder has now sold 24 million shares this month. Mr Bezos, who is Amazon’s executive chair, last sold Amazon shares in…
The Body Shop’s UK business has entered administration, potentially putting up to 2,000 jobs at risk. The retailer’s shops will remain open as usual while the administrators try to save the UK firm. Restructuring firm FRP, which has been appointed as the administrator, said it would now consider all options to find a way forward…
UK chip designer Arm Holdings has seen its stock market value almost double in less than a week as investors bet on the artificial intelligence (AI) boom. The Cambridge-based company reported financial results last Wednesday that showed demand for AI-related technology is boosting its sales. Chips designed by Arm already power almost every smartphone in…
At his home in Denmark Casper Nielsen retrieves a package from the fridge and prepares to inject his next dose. “So this is Wegovy, you take it four times a month,” says the 45-year-old. “Before, I thought, ‘maybe I’m not getting to be 60, maybe I’m not seeing my grandkids’. “But now I’m looking at…
It was March 2022. The Russian rouble crashed, the value in London of corporate giants Gazprom and Sberbank fell 97%. Queues began to form at cash machines in Moscow. Oligarchs’ yachts, football teams, mansions and even their credit cards were seized. Russia crashed into a major recession. This was the immediate result of the most…
When Ollie, a delivery rider in York, England, got his first e-bike in 2022, it was a bit of a splurge. He bought it at a discounted rate negotiated by his delivery company. Even with the discount, it set him back £1,000. “The biggest issue is that e-bikes are expensive, and ones with safe batteries…