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British Prime Minister Keir Starmer and Nvidia co-founder Jensen Huang will announce a new initiative on June 9 to enhance AI education and research in the UK, supported by a £187 million program. This partnership aims to address the UK's AI skills gap, with only 15% of organizations classified as "AI pros," and to boost productivity amid economic challenges. The collaboration reflects a strategic shift towards leveraging private sector expertise to foster innovation and tackle labor market concerns related to AI displacement and job creation.
[Bloomberg]
The fundraising landscape is increasingly polarized, with top-performing funds attracting the majority of investments while weaker players face consolidation or exit. Wealth management is evolving, with funds offering more liquidity to appeal to a broader investor base. Despite a sluggish environment, recent M&A activity in the US tech sector signals potential recovery, though smaller, undifferentiated firms may struggle.
Amphenol, Carvana, and Barclays are highlighted in the latest Zacks Analyst Blog. As global growth concerns rise, key U.S. economic data, including April CPI and retail sales, will be closely monitored. Carvana continues to innovate in the used car market, while Barclays, a major global bank, faces challenges with low value and growth scores.
UK consumer spending rose by 4.5% in April, driven by warm weather and the long Easter weekend, marking the largest increase since June 2023. Non-essential spending surged by 5.1%, while physical shop sales climbed 6.9% year-on-year. The Bank of England's recent interest rate cut and a new trade agreement with the US are expected to further bolster economic sentiment.
UBS maintains a cautious outlook on U.K. equities despite recent trade deals with the U.S. and India, emphasizing the importance of global trade over bilateral agreements. While economic growth is expected to slow, UBS suggests focusing on sectors like industrials and utilities for potential exposure, while favoring Swiss equities due to better earnings prospects.
UBS maintains a cautious outlook on UK equities despite recent trade deals with the US and India, emphasizing the importance of restoring global trade over bilateral agreements. While a slowdown in economic growth is anticipated, the firm suggests focusing on sectors like industrials and IT for potential exposure, favoring Swiss equities due to better earnings prospects and less energy dependency.
The S&P 500 saw a slight rise as investors reacted positively to a trade deal framework between the US and the UK, featuring a 10% baseline tariff on UK imports. President Trump expressed optimism about upcoming trade talks with China, suggesting a potential thaw in relations and a reduction in tariffs. Market sentiment improved, with gains across major equity sectors, while the DXY US dollar index rose, indicating a return of confidence in the US economy.
A group of 13 Democratic senators is urging an investigation into Elon Musk's potential conflicts of interest regarding his Starlink satellite service, amid allegations he may have used his White House connections to secure international deals. Internal messages indicate U.S. embassies and the State Department promoted Starlink in various countries, while a report reveals Musk's business interests intersect with over 70% of targeted government agencies.
British Prime Minister Keir Starmer and Japanese Prime Minister Shigeru Ishiba emphasized the importance of collaboration between like-minded nations to reduce trade barriers during a recent call. They agreed that a trade war is detrimental and advocated for a calm and pragmatic approach to trade relations.
Keir Starmer
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