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BBC News4 hours ago
World Business Report
August 11, 2025
26 minutes
Available for 29 days
In what's being described as an 'unprecedented' deal, Nvidia and AMD agree to pay the Trump administration 15 percent of their sales to China in exchange for export licences. We'll be in Asia and the US examining what the move means for the US microchip makers - and the industry.
And with plans for US tariffs on pharmaceuticals to eventually reach as much as 250 percent, how will that affect companies that make the ingredients for those medicines? We'll be hearing from one such business.
Oil, gas, minerals and gems can be both a blessing for the economies of counties that are rich in them – but they can also be a curse. The head of a diamond company in Botswana tells us what it's like to navigate the challenges.
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Trump's new AI chatbot keeps fact-checking him
Trump's new AI chatbot keeps fact-checking him

The Independent

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Trump's new AI chatbot keeps fact-checking him

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. 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. The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it. Your support makes all the difference. Donald Tump's new AI-powered search engine has been contradicting the US president on some of his core policies since launching last week. The Truth Search AI feature, which is integrated into the web browser of Mr Trump's social media platform Truth Social, is designed to deliver 'direct, reliable answers', according to its creators. The chatbot's responses typically draw from right wing and pro-Trump news sources like Fox News and Newsmax, however it did not support recent statements made by Trump. On Friday, Mr Trump said that his tariff policy has had a 'huge positive impact' on the stock market, but the AI tool responded saying 'the evidence does not support this claim'. First reported by The Washington Post , Truth Search AI also called the US president's claim that the 2020 election was stolen as 'baseless'. When asked about a recent post by Mr Trump on Truth Social about crime in Washington, D.C., the AI bot responded that it is 'not totally out of control'. Users on social media also shared instances of the new AI bot claiming that Barack Obama is the most popular president of the century, and that the Trump family's crypto projects pose a conflict of interest. Trump Media said in a press release unveiling the new feature that its mission was to 'end Big Tech's assault on free speech by opening up the internet and giving people their voice's back'. The AI feature is developed by the controversial artificial intelligence company Perplexity, which recently faced criticism after security firm Cloudflare alleged that it was secretly scrape websites without their permission. Cloudflare CEO Matthew Prince said the company was acting 'like North Korean hackers', however Perplexity dismissed the claims. Trump Media did not respond to a request for comment from The Independent .

Telling sign the US is headed for a recession
Telling sign the US is headed for a recession

Daily Mail​

time9 minutes ago

  • Daily Mail​

Telling sign the US is headed for a recession

Advertisement More than half of US industries are already cutting jobs — a glaring red flag that a recession is near, a leading economist has warned. Moody's Analytics chief economist Mark Zandi said that, although the country hasn't officially entered a downturn, cracks are widening in the jobs market. He said on X that 'far and away' the most important recession indicator is 'payroll employment.' 'If employment declines for more than a month consecutively, we are in a downturn,' he wrote. Though payrolls haven't fallen yet this time, growth has stalled since May — and recent data revisions suggest employment could already be shrinking. The most recent federal jobs reports showed hiring for May and June was much lower than initially thought. On that basis, the report for July is expected to show a decline. 'It wouldn't be surprising if we learn with the coming revisions that employment is already declining,' he explained. Zandi's warning comes a week after a report showed layoffs have risen 140 percent from a year ago. Zandi said that historically, it's not clear exactly when a recession starts until well after the fact. However, he added that 'in the past, if more than half the 400 industries in the payroll survey were shedding jobs, we were in a recession. In July, over 53% of industries were cutting jobs, and only healthcare was adding meaningfully to payrolls.' Zandi also issued a terrifying 'red flare' warning to homeowners last month. A 'red flare' warning suggests the market is experiencing major instability and a fall is imminent. 'I sent off a yellow flare on the housing market in a post a couple of weeks ago, but I now think a red flare is more appropriate,' he wrote. It comes as construction of new homes has slowed and sellers are being forced to reduce their prices or pull their homes off the market entirely. 'Home sales are already uber depressed,' Zandi wrote, adding that the housing market could become an issue for the wider economy. 'Housing will thus soon be a full-blown headwind to broader economic growth, adding to the growing list of reasons to be worried about the economy's prospects later this year and early next,' he wrote.

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