If the price of energy continues to be elevated for the whole year, that could put a crimp on the AI boom. Because that investment is very concentrated in a number of very large firms, and the technology is still ultimately unproven in terms of how much it can deliver, there is a bit of uncertainty there in terms of where the future's going.
The regional economy expanded 38 percent over the past decade, clearly surpassing growth recorded in California and across the United States. Venture capital investment climbed to $92 billion while local creators filed more than 23,000 patents in one year alone. Productivity has reached $336,515 per worker, standing 75 percent above the national average.
Weak performance in several service sectors offset gains in retail and wholesale trade, reinforcing concerns about the pace of economic recovery. Japan relies heavily on oil imports from the Middle East, making it particularly sensitive to disruptions in the region.
Venture capital firms, hedge funds, crypto companies, and tech startups have relocated from San Francisco and New York, drawn by zero state income tax, a business-friendly regulatory environment, and a growing talent base. The city's ecosystem now spans fintech, AI, defense tech, and crypto, creating ripple effects for regional banks, payment networks, homebuilders, and data infrastructure companies.
The investment package, which will primarily fund transport upgrades and surrounding infrastructure, is significantly larger than the £500 million previously expected to be allocated to the project. The funding forms part of wider preparations for the construction of Universal Studios Bedford, a multibillion-pound attraction planned for a 500-acre site on former brickworks land.
The S&P 500 rose 0.6% in midday trading and is on track to claw back most of its loss since the war with Iran began. The Dow Jones Industrial Average was up 237 points, or 0.5%, as of 11:15 a.m. Eastern time, and the Nasdaq composite was 1.1% higher.
"The big thing is growth," responded the POTUS. "Growth is the way we go from high debt to low debt. We're going to be growing our way out, and I think we're going to be paying down debt." Trump's frequently stated that his manifesto that champions sweeping deregulation and domestic manufacturing, alongside the rapid rise of AI-Trump trumpets that he personally orchestrated the technology's single biggest initiative, the $500 billion, multi-partner Stargate data center project-will unleash a productivity revolution igniting a historic surge in productivity.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
Since taking office, Trump has imposed a range of tariffs on countries, including key trading partners, leading to predictions of inflation skyrocketing, manufacturing screeching to a halt and unemployment soaring. None of those scenarios came true. Inflation, while above the Federal Reserve's target, was a modest 2.7 percent in December. The unemployment rate was relatively low, at 4.4 percent, last month.
Three economists jointly won a Nobel Prize in late 2025 for their groundbreaking quantitative work analyzing how, and why, economies grow. Their math is complicated - but their conclusion is simple: to foster economic expansion, policymakers need to promote technological innovation and stoke competition between rival firms. The surest way to foster that innovation and competition is to strengthen intellectual property rights.
Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
This was the first administration to have five women deputy mayors, the first woman police commissioner and the second woman police commissioner. We had the first Dominican deputy mayor, the first Filipino deputy mayor, the first East Indian deputy mayor, and the first Persian deputy mayor an administration that looks like the city it serves and that has delivered for our city every single day.
It reflects what businesses tell us they are less confident about hiring staff due to sky-high employment costs and a tidal wave of new employment legislation coming down the track. While there has been some easing of cost pressures - with average earnings including bonuses slowing to 4.7 per cent in the three months to October - labour costs remain a challenge.
UK GDP declined marginally by 0.1% in October, reflecting an economy that is stable but still unable to build meaningful forwards momentum. The UK is neither sliding into a clear downturn nor generating the lift needed to move into a firmer, sustainable expansion phase. Across the main sectors, October's picture is uneven. Manufacturing and construction continue to feel the weight of higher borrowing costs and muted global demand, while improvements in consumer-facing services remain hesitant despite easing inflation.
The once-rigid link between economic growth and carbon emissions is breaking across the vast majority of the world, according to a study released ahead of Friday's 10th anniversary of the Paris climate agreement. The analysis, which underscores the effectiveness of strong government climate policies, shows this decoupling trend has accelerated since 2015 and is becoming particularly pronounced among major emitters in the global south. Countries representing 92% of the global economy have now decoupled consumption-based carbon emissions and GDP expansion, according to the report by the Energy and Climate Intelligence Unit (ECIU).
Nick Thomas Symonds, the minister in charge of EU negotiations, was promoted to full cabinet rank. The Welshman, a close ally of Starmer, will be an advocate of a closer relationship with the EU when ministers meet. But, a source close to the prime minister said, he isn't going to bang the cabinet table and say it's customs union or bust. If that happens, it has to come from Keir himself.
A large part of the Cabinet sat down at the table with the presidents of banking groups, energy companies, steel companies, and major service firms. Sheinbaum posted a photo of the meeting on social media, which also included the president of the Business Coordinating Council (CCE), Francisco Cervantes, as well as the president of Grupo Televisa, Bernardo Gomez; the president of Grupo Bal, Alejandro Bailleres Gual; the president of Grupo FEMSA, Jose Antonio Fernandez Garza; and the son and right-hand man of the president of Banamex, Felipe Chico Hernandez.
Eurozone inflation edged up to 2.2% in November, a slight rise from the 2.1% recorded in October. The headline number continues to hover close to the European Central Bank's 2% target, but the underlying picture remains uneven. For the wider eurozone economy, today's data suggests that the disinflation trend is intact but still fragile. Growth across the bloc remains modest, with forecasts for next year centred near 1.2%.
After 14 years out of office, last year's Autumn Budget was largely met with an understanding that tax rises were necessary. Labour had been dealt a poor hand by its predecessors, with borrowing elevated and debt rising. The Chancellor, Rachel Reeves, announced tax rises to steady the ship and expressed hope that such an action would be a one-off. Yet, one year later, the Chancellor has reneged, announcing a further package of £26 billion worth of tax hikes.
Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
She will argue that eight in ten firms believe the legislation, in its current form, will make hiring harder, acting as a brake on economic growth. "Lasting reform takes partnership, not a closed door," she will say. "When eight in ten firms say this bill will make it harder to hire, they are brakes on growth. The government must change course and ask business and unions to forge consensus through compromise."
Former Bank of England chief economist Andy Haldane told the BBC's Sunday with Laura Kuenssberg programme this was "the single biggest reason why [economic] growth has flatlined". In response, Alexander said there was always speculation in the run-up to Budgets but the chancellor had been clear about her priorities. Chancellor Rachel Reeves is widely expected to increase taxes in her Budget on Wednesday to help fill a multibillion-pound gap in her spending plans.
