The wars around the world are getting expensive. Using a million-dollar missile to shoot down a million-dollar drone a few dozen times a day in Israel, Ukraine, or the Red Sea begins to add up.
Tag: UK
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U.K. ENTERS TECHNICAL RECESSION
The U.K.’s economy contracted 0.3 percent in last year’s final quarter, which followed a 0.1-percent decrease in the second quarter, putting the nation into a technical recession, defined as two consecutive quarters of economic shrinkage.
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SPOTLIGHT: RECESSION WATCH
Japan’s economy shrank 0.4 percent in 2023’s final quarter, surprising economists and falling into a technical recession, which is defined as two consecutive quarters of economic contraction.
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U.K.’S ECONOMY SLUMPING, BUT PM SAYS IT WILL INCREASE FUNDING FOR UKRAINE
British Prime Minister Rishi Sunak visited Kyiv last week and he came bearing gifts, promising Ukraine more than $3.2 billion in military assistance in the next year—the largest commitment from the U.K. yet for the war against Russia.
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U.K. GROCERY INFLATION FALLS TO SINGLE DIGITS FOR FIRST TIME IN 18 MONTHS
Inflation in British grocery prices fell to 9.7 percent in the four weeks ending 29 October, the first time monthly food price gains have been limited to single digits since July 2022, research service Kantar reported.
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BRITAIN’S ECONOMY STAGNATES IN THIRD QUARTER
The U.K.’s economy showed no growth in this year’s third quarter from the second, “entering what is expected to be a protracted period of stagnation on the cusp of a recession,” The New York Times reported.
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READY FOR A CRADLE TO GRAVE “AI COPILOT”?
In connection with an Orwellian named “AI Global Safety Summit” held this past week in the U.K., thousands of AI industry workers and experts have signed onto a letter arguing that AI is destined to become a “force for good” in the world, and not disaster.
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STRONGER SERVICES SECTOR BUOYS U.K. ECONOMY
Britain’s economic output grew 0.2 percent in August after contracting 0.6 percent in July, the Office of National Statistics reported. The increase matched the expectations of economists surveyed by The Wall Street Journal.
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U.K. WILL PLACE THIRD IN GLOBAL AI SWEEPSTAKES, STUDY SAYS
Britain’s AI sector will grow from £1.36 trillion (about $1.7 trillion) to £2.4 trillion ($3 trillion) by 2027, making it the world’s third-largest AI economy behind the U.S. and China, according to an analysis by the information clearinghouse Global AI Ecosystem.
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AHEAD OF AI SAFETY SUMMIT, U.K. REGULATORS LIST GUIDING PRINCIPLES FOR AI DEVELOPMENT
“The speed at which AI is becoming part of everyday life for people and businesses is dramatic,” Sarah Cardell, CEO of the CMA, said in a statement listing the principles.