Rachel Reeves’s test from the bond markets starts now

Good news for Rachel Reeves: the cost of government borrowing has fallen a bit relative to the US and eurozone countries. Better news: the chancellor may have something to do with it. Better still: some economists think there’s more to come.Let’s not get carried away, though. The UK is still paying a painful premium on its borrowing costs, as the Institute for Public Policy Research thinktank illustrates

Bank of England expects budget will cut inflation by up to half a percentage point

The Bank of England expects Rachel Reeves’s budget will reduce the UK’s headline inflation rate by as much as half a percentage point next year.In a boost for the chancellor after last month’s high-stakes tax and spending statement, Clare Lombardelli, a deputy governor at the central bank, said its early analysis showed the policies would lower the annual inflation rate by 0.4 to 0.5 percentage points for a year from mid-2026.Reeves made cutting inflation a central ambition of her budget alongside a sweeping £26bn package of tax increases to cover a shortfall in the public finances and fund scrapping the two-child benefit policy

Trump clears way for Nvidia to sell powerful AI chips to China

Donald Trump has cleared the way for Nvidia to begin selling its powerful AI computer chips to China, marking a win for the chip maker and its CEO, Jensen Huang, who has spent months lobbying the White House to open up sales in the country.Before Monday’s announcement, the US had prohibited sales of Nvidia’s most advanced chips to China over national security concerns.Trump posted to Truth Social on Monday: “I have informed President Xi, of China, that the United States will allow NVIDIA to ship its H200 products to approved customers in China, and other Countries, under conditions that allow for continued strong National Security. President Xi responded positively!”Trump said the Department of Commerce was finalising the details and that he was planning to make the same offer to other chip companies, including Advanced Micro Devices (AMD) and Intel. Nvidia’s H200 chips are the company’s second most powerful, and far more advanced than the H20, which was originally designed as a lower-powered model for the Chinese market that would not breach restrictions, but which the US banned anyway in April

AI researchers are to blame for serving up slop | Letter

I’m not surprised to read that the field of artificial intelligence research is being overwhelmed by the very slop that it has pioneered (Artificial intelligence research has a slop problem, academics say: ‘It’s a mess’, 6 December). But this is a bit like bears getting indignant about all the shit in the woods.It serves AI researchers right for the irresponsible innovations that they’ve unleashed on the world, without ever bothering to ask the rest of us whether we wanted it.But what about the rest of us? The problem is not restricted to AI research – their slop generators have flooded other disciplines that bear no blame for this revolution. As a peer reviewer for top ethics journals, I’ve had to point out that submissions are AI-generated slop

20-year-old charged with attempted murder over shooting of Jets’ Kris Boyd

A Bronx man has been charged with attempted murder in the shooting of New York Jets player Kris Boyd, police announced Tuesday.The New York police department said Frederick Green, 20, was charged late Monday night. Police had revealed Monday that a “person of interest” was in custody but didn’t name them. It was not immediately clear if Green has an attorney. He also faces additional charges of assault and criminal possession of a weapon, police said

Questions over Champ playoffs with only two clubs applying for promotion

Arguments behind the scenes about the proposed transformation of the top tier of English club rugby into a franchise-based league are intensi­fying with just two Champ clubs seemingly now eligible for promotion this season. Only Ealing Trailfinders and ­Doncaster Knights have applied formally to be promoted to the Prem, with Worcester Warriors understood to have missed the deadline.A Rugby Football Union spokesperson suggested on Tuesday that the absence of Worcester’s name reflects the reality that the club is still “getting back on its feet” after its financial collapse in September 2022 with debts of more than £25m. But with Ealing unable to satisfy the Prem minimum ­standards for the past two seasons, and with ­Doncaster off the pace in 10th place, it raises fresh questions about the ­­raison d’être of the ­scheduled new end‑of‑season Champ playoffs, unveiled this year amid much fanfare.Originally it had been intended that the playoff winner should qualify for a merit-based, two-leg showdown with the Prem’s bottom side, but other scenarios have since emerged