Sterling volatility expected around the budget; German economy stagnating – business live

Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The pound is in the spotlight as investors brace for tomorrow’s budget, fearful of a negative market reaction to Rachel Reeves’s plans.The pound has weakened over the last few months, down from $1.36 in mid-September to $1.31 today, having hit a seven-month around $1

Australia is bringing in ‘world first’ minimum pay for food delivery drivers – here’s how it will work

Food delivery companies in Australia have teamed up with the Transport Workers’ Union to set new minimum standards for delivery drivers, including a minimum hourly wage and accident insurance for injuries sustained on the job.In a deal described as a “world first”, the country’s two largest food delivery services, DoorDash and Uber Eats, have submitted a joint application with the Transport Workers’ Union to the Fair Work Commission.The deal still requires approval from the industrial umpire, but here’s what we know so far.The application to the FWC comes after a wide range of workplace reforms was introduced by the Albanese government, which included empowering the industrial umpire to set minimum standards for gig workers.DoorDash, Uber Eats and the TWU have agreed on new protections for delivery drivers after years of talks

Macquarie Dictionary announces ‘AI slop’ as its word of the year, beating out Ozempic face

AI slop is here, it’s ubiquitous, it’s being used by the US president, Donald Trump, and now, it’s the word of the year.The Macquarie Dictionary dubbed the term the epitome of 2025 linguistics, with a committee of word experts saying the outcome embodies the word of the year’s general theme of reflecting “a major aspect of society or societal change throughout the year”.“We understand now in 2025 what we mean by slop – AI generated slop, which lacks meaningful content or use,” the committee said in a statement announcing its decision.“While in recent years we’ve learnt to become search engineers to find meaningful information, we now need to become prompt engineers in order to wade through the AI slop. Slop in this sense will be a robust addition to English for years to come

AI could replace 3m low-skilled jobs in the UK by 2035, research finds

Up to 3m low-skilled jobs could disappear in the UK by 2035 because of automation and AI, according to a report by a leading educational research charity.The jobs most at risk are those in occupations such as trades, machine operations and administrative roles, the National Foundation for Educational Research (NFER) said.Highly skilled professionals, on the other hand, were forecast to be more in demand as AI and technological advances increase workloads “at least in the short to medium term”. Overall, the report expects the UK economy to add 2.3m jobs by 2035, but unevenly distributed

Australia rolls out red carpet to England fans with newfound time on their hands

Regional centres are rolling out the red carpet to travelling England cricket supporters with newfound time on their hands, and last-minute side trips are becoming the norm for the Barmy Army as Bazball changes what it means to tour Australia.The two-day Perth Test was unusually brief, leaving Cricket Australia with a $4m shortfall and broadcasters bereft of live content to fill their schedules.England’s commitment to attacking cricket – the side has drawn just twice in three years under head coach Brendon McCullum and never outside of Manchester – also has wider consequences.English fans in Perth may have suffered through the defeat in the stands, but the result opened up their diaries for non-cricketing activities.Some visited Rottnest Island to see the quokkas, others went to wineries in Margaret River, while dozens gathered in Fremantle on Monday to enjoy a warm if typically windy spring afternoon in Perth

Travis Head’s devastating knock gives Australia’s selectors a dilemma

Accidents do not come much happier. Usman Khawaja’s mid-game back problem was annoying for the player and potentially damaging for his team, until it wasn’t. Clearing out the regular dry-powder opener created space in the final stanza of the Perth Test, allowing Travis Head to finish off England with the gory certainty and splatter count of a Mortal Kombat fatality move. Sometimes you mash the buttons and it all just works.Consider an Ashes innings of 123 from 83 balls, on a bouncy pitch where two other players nudged 50, in an effort that did not just win the match, but has sent the opposition into a demoralising tailspin