Universal basic income could be used to soften hit from AI job losses in UK, minister says

The UK could introduce a universal basic income (UBI) to protect workers in industries that are being disrupted by AI, the investment minister Jason Stockwood has said.“Bumpy” changes to society caused by the introduction of the technology would mean there would have to be “some sort of concessionary arrangement with jobs that go immediately”, Lord Stockwood said.The Labour peer told the Financial Times: “Undoubtedly we’re going to have to think really carefully about how we soft-land those industries that go away, so some sort of [universal basic income], some sort of lifelong mechanism as well so people can retrain.”A universal basic income is not part of official government policy, but when asked whether people in government were considering the need for UBI, Stockwood told the FT: “People are definitely talking about it.”The technology entrepreneur, who took up his ministerial post in September, said part of his motivation for joining the government was to help ensure the workforce was prepared for rapid change

Meta wows Wall Street despite spending billions on AI and facing social media addiction trial

As Meta spends billions on artificial intelligence datacenters and its CEO prepares to testify in a landmark social media trial, the company is earning a pretty penny.Meta reported strong financial results on Wednesday, beating Wall Street expectations of $58.59bn with $59.89bn in revenue for the fourth quarter of 2025. It reported earnings per share (EPS) of $8

Tesla discontinues Model X and S vehicles as Elon Musk pivots to robotics

In the clearest sign yet that Tesla is pivoting away from its electric car business, its CEO, Elon Musk, announced on Wednesday’s investor call that the company would discontinue production of its Model X SUV and Model S full-size sedan.“It’s time to basically bring the Model S and X programs to an end,” Musk said. “We expect to wind down S and X production next quarter.”The model S and X factory in Fremont, California, would be converted to produce Tesla’s upcoming Optimus robot, Musk said.Tesla’s most recent quarterly earnings report showed slumping vehicle sales and declining revenue as Musk pins the company’s futures on AI and robotics

Microsoft shrugs off AI bubble fears again with strong financial results

Investor interest in Microsoft shares may have weakened in recent months, but the company posted strong financial results on Wednesday which yet again demonstrated that the AI boom is roaring on.Microsoft reported earnings for the second quarter of the fiscal year that are likely to keep the party going for Wall Street, despite slowing growth in its key cloud computing business.Microsoft reported revenues of $81.27bn against expectations of $80.32bn, and improved from the 12

Artificial intelligence will cost jobs, admits Liz Kendall

Increasing deployment of artificial intelligence will cause job losses, the UK technology secretary has warned, saying: “I want to level with the public. Some jobs will go.”In a speech on government plans to handle the impact of AI on the British economy, Liz Kendall declined to say how many redundancies the technology might cause but said: “We know people are worried about graduate entry jobs in places like law and finance.”She said: “Others will be created in their place”.While some forecasts have suggested the fast-developing technology could create a net increase in employment, Kendall said: “I’m not complacent about that

US TikTok users: tell us how you feel about the app after the new US deal

TikTok users in the US appear to be deleting the app at higher rates after the announcement of a new deal securing its future in the country, according to reports. The short-form video app, which is owned by the Chinese company ByteDance, has faced years of uncertainty in the US amid concerns over data security and a possible ban.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more