Europe open: Shares fall as investor fears over AI spark tech sell-off
European shares were lower at the open on Friday amid another sell-off in tech stocks as investor fears heightened over the reality of financial returns from artificial intelligence.
US close: Stocks mixed as AI spending fears hit tech, oil surge weighs on sentiment
Major indices closed mostly lower on Thursday as renewed concerns over heavy AI spending weighed on sentiment and oil prices jumped amid rising geopolitical tensions.
UK retail sales fall more than expected in September
UK retail sales fell more than expected in September, according to figures released on Friday by the Office for National Statistics.
Rio Tinto approves $1.9bn Kangwinan investment, Unite offloads academy asset for £40.7m
LONDON PRE-OPEN The FTSE 100 was expected to open 19. 3 points higher ahead of the bell on Friday, after wrapping up the previous session 0. 26% lower at 10,725. 03.
London pre-open: Stocks to nudge up; retail sales fall more than expected
London stocks were set to nudge ahead at the open on Friday despite a tech selloff on Wall Street, as investors mulled the latest UK retail sales data and consumer confidence reading.
Rio Tinto to invest $1.9bn in Queensland bauxite expansion
Rio Tinto will invest $1. 9bn in the Kangwinan bauxite project in Queensland, Australia, adding 20m tonnes of annual production capacity as it looks to maintain its position as a leading global bauxite producer and replace ageing facilities.
Friday newspaper round-up: Elon Musk/Skydance, North Sea wealth fund, retiring entrepreneurs
Elon Musk has reportedly invested approximately $1bn in Skydance, the new media empire led by David Ellison. The deal comes alongside fresh equity infusions from existing investors, including board member Laurene Powell Jobs, Steve Jobs’s widow. Semafor first reported the news. The investment follows Paramount’s recent $111bn merger with Warner Bros Discovery, a huge acquisition that brought the media companies together under the Skydance name. At the head of the new media empire is David Ellison, the son of billionaire Oracle co-founder and Donald Trump ally Larry Ellison.