Thanks, Larry Elliott, for all the lightbulb moments on understanding economics

I am so sorry to find that I have read Larry Elliott’s last column as economics editor (From Thatcher to Trump and Brexit: my seven lessons learned after 28 years as Guardian economics editor, 10 November). I have always relied on him for explanations of the murky world of economics that are clear, concise and explain the context. My understanding of economics has always been shaky, but Larry’s articles have given me quite a few lightbulb moments. I shall treasure the final column.Mary Slater Cardiff Francesca Segal gives us a valuable list of novels that bring solace rather than presenting the world’s woes (‘It will renew your faith in humanity’: books to bring comfort in dark times, 9 November)

UK grocery inflation picks up to 2.3%; unemployment rises while regular wage growth slows – as it happened

Grocery price inflation in the UK picked up in October, while supermarket sales hit their highest level so far this year, as shoppers started their Christmas shopping early, buying mince pies and Christmas cake.Grocery prices rose by 2.3% year-on-year, up from 2% in September “but still within typical levels,” according to retail analysts Kantar. The rate has been below 3% every month since the early summer.The UK’s jobs market has shown further signs of cooling after a rise in unemployment in September while pay growth slowed, as business leaders warned the budget could hit hiring demand and lead to higher prices

Musk’s influence on Trump could lead to tougher AI standards, says scientist

Elon Musk’s influence on a Donald Trump administration could lead to tougher safety standards for artificial intelligence, according to a leading scientist who has worked closely with the world’s richest person on addressing AI’s dangers.Max Tegmark said Musk’s support for a failed AI bill in California underlined the billionaire’s continued concern over an issue that did not feature prominently in Trump’s campaign.However, Musk has warned regularly that unrestrained development of AI – broadly, computer systems performing tasks that typically require human intelligence – could be catastrophic for humanity. Last year, he was one of more than 30,000 signatories to a letter calling for a pause in work on powerful AI technology.Speaking to the Guardian at the Web Summit in Lisbon, Tegmark said Musk, who is expected to be heavily influential in the president-elect’s administration, could persuade Trump to introduce standards that prevent the development of artificial general intelligence (AGI), the term for AI systems that match or exceed human levels of intelligence

Bitcoin price tops $87,000 for first time amid ‘Trump pump’

The price of bitcoin has risen above $87,000 for the first time as it benefited from traders’ hopes that Donald Trump will favour cryptocurrencies when he returns to the White House.Bitcoin reached a record high of $87,198, before slipping back slightly on Monday. The price has more than doubled from about $37,000 12 months ago.The election has also affected traditional currency markets, individual stocks – most notably Elon Musk’s electric car company, Tesla – and broad US equity markets, as investors bet on deregulation and tax cuts from Trump.Trump has in the past called bitcoin a “scam against the dollar”, but he changed his tune on cryptocurrency during the US presidential election campaign, courting the crypto community and appearing at industry events

FIA surprised by unexpected departure of F1 race director before end of 2024 season

The Formula One race director, Niels Wittich, has stepped down from his post with immediate effect in an unexpected decision announced by the FIA on Tuesday. He will be replaced by Rui Marques, who was previously the race director for Formula Two and Formula Three. Wittich’s departure came as a surprise to F1 and is highly unusual in its timing given there are three races of the 2024 season remaining.Wittich has made no comment on why he has stepped down during the season, but he is the latest senior FIA officials to leave. In the past 12 months the chief executive, Natalie Robyn, moved on after 18 months in post, as have the sporting director, Steve Nielsen, the technical director, Tim Goss, and the head of the FIA commission for women, Deborah Mayer, in what has been a period of turbulence for the FIA president, Mohammed Ben Sulayem

Rassie Erasmus calls on doctor to deliver message: Springboks are ready

When Rassie Erasmus does something out of the ordinary it is usually for a reason, so his surprising decision to put the team doctor up to face the press on Tuesday was no doubt a calculated move. The message was clear, and has been since full-time against Scotland: the Springboks are fresh. And they evidently want everyone to know it.Equally, you suspect they are not very happy about having a six-day turnaround before facing England. New Zealand made light work of theirs last week but as the all-conquering back-to-back world champions, perhaps it is necessary to engineer perceived slights against yourselves