FTSE 100 hits record as interest rate hopes push down UK borrowing costs

The UK’s blue-chip stock index has hit a record high, as hopes of interest rate cuts this year drove down government borrowing costs.Almost every share on the FTSE 100 rose on Friday, the fall in the value of the pound bolstering multinationals listed in London and propelling the index above 8,500 points for the first time.The “Footsie”, which tracks the 100 biggest London-listed companies, rose 1.6% to hit a fresh intraday high of 8,533.43 points amid growing confidence that the Bank of England would ease monetary policy this year

FTSE 100 share index hits record high; relief for Rachel Reeves as UK borrowing costs fall – as it happened

Boom! Britain’s blue-chip share index has hit a new alltime high.The FTSE 100 index, which tracks the hundred largest companies listed in London, has jumped by over 1% to 8480.36 points in early trading, above its previous intraday high of 8474 points set last May.Stocks are on a three-day rally, which started on Wednesday when UK inflation dropped unexpectedly, potentially paving the way for several interest rate cuts this year.Today’s disappointing retail sales figures, folowing Thursday’s weaker-than-expected growth data for December, have added to hopes that the Bank of England will ease monetary policy this year

EU asks X for internal documents about algorithms as it steps up investigation

The European Commission has asked X to hand over internal documents about its algorithms, as it steps up its investigation into whether Elon Musk’s social media platform has breached EU rules on content moderation.The EU’s executive branch told the company it wanted to see internal documentation about its “recommender system”, which makes content suggestions to users, and any recent changes made to it, by 15 February.X has been under investigation since December 2023 under the EU’s content law – known as the Digital Services Act (DSA) – over how it tackles the spread of illegal content and information manipulation. The company has been accused of manipulating the platform’s systems to give far-right posts and politicians greater visibility over other political groups.The EU has come under growing pressure in recent weeks to take action after a series of interventions by Musk into European politics

Labour’s investment in AI isn’t as clever as it thinks it is | Letters

There are at least three major concerns to raise with the government’s apparent betting the future of the UK on so-called artificial intelligence (‘Mainlined into UK’s veins’: Labour announces huge public rollout of AI, 12 January).The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.First, as Prof Shannon Vallor at the University of Edinburgh has pointed out in her book The AI Mirror, generative AI is not creative; it only looks backward

Lindsey Vonn’s ‘impossible’ comeback roars on with 2026 Olympics in frame

She’s past 40 with a knee made of titanium, but Lindsey Vonn’s comeback is already bucking expectations and crackling with the promise of a fifth Olympic GamesThere’s no denying the nervous apprehension that rippled through the ski racing world after Lindsey Vonn announced her shock comeback in November. She’d walked away nearly six years earlier due to a battered right knee worn down by a string of gruesome crashes and multiple surgeries, no longer able to endure the punishing demands of the circuit. Now she was proposing a return on the wrong side of 40 with a knee made of titanium to a high-risk sport where no woman has ever won any top-flight race past 34 years old.But a funny thing happened on the way to Vonn’s humiliation. In the two months since her unretirement, she’s finished 14th in a super-G at St Moritz, before improving to sixth and fourth in her next two races at St Anton

Jack Draper goes the distance again to beat Vukic and set up Alcaraz clash

Throughout the early days of Jack Draper’s young career, questions around his physical preparedness for his chosen sport followed him wherever he went. As he continually struggled with injuries and endurance issues alike, Draper never failed to hear from those who believe he did not work hard enough, carry himself with sufficient professionalism or care enough about his craft.Those days are over. Forever. For the third straight match in Melbourne, despite his stunted preparation and the rust that caked his game, Draper made his commitment and passion plain to see as he left everything out on the court and somehow found a way to drag himself across the finishing line of yet another frantic five-set match he seemed destined to lose, drawing on his endless reserves of grit and heart in the process