Latest news with #AlexanderButler
Yahoo
04-03-2025
- Politics
- Yahoo
Farmers' protest live: Protesters say ‘no pancakes without us' on tractor tax march in London
Thousands of farmers have vowed there will be 'no pancakes without us' on a protest from Whitehall towards Parliament over inheritance tax changes. Protesters, with tractors and combine harvesters, arrived in London this morning for the 'Pancake Day rally' after police banned tractors from the capital. Seven machines present at the start of the protest were pre-agreed with police under the conditions of the Public Order Act, police said. The Met banned all other 'mechanically propelled vehicles' from the capital following protests last month that saw hundreds of tractors disrupt traffic across the city. The march is the latest action being taken by farmers who are unhappy over Labour's plan to bring in a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1m. Farmer Olly Harrison, one of the organisers, has said the protesters will aim to explain to MPs 'the levels of investment needed in agriculture just to produce something simple like a pancake'. Thousands of farmers turn up to Whitehall: 'No pancakes without us' Farmers turn up in combine harvesters ahead of London protest Farmers could be arrested if they drive tractors at rally, police warn Third Labour MP speaks out against inheritance tax plans 13:57 , Alexander Butler Reform UK leader Nigel Farage said the Met Police banning tractors from today's protest was 'heavy-handed'. Speaking at the protest, Mr Farage said: 'It looks on the face of it to be overly heavy-handed with what is an incredibly peaceful and law-abiding group of people.' Mr Farage urged farmers to pressure Labour MPs in rural constituencies whose majorities are "cigarette paper-thin". 13:37 , Alexander Butler 13:26 , Alex Croft Emma, 48, says she has heard of elderly farmers who would rather die now than wait until inheritance tax changes come into force in April 2026. 'We're already hearing of people that have taken their own life because of the situation,' the farmer from Staffordshire said. Her father passed away five years ago, leaving the farm to her mother. 'When anything happens to her, the money's going have to be found for this tax,' she adds. 13:10 , Alexander Butler 13:06 , Alex Croft Nigel Watson, a 58-year-old farmer from East Yorkshire says he is here for his son's benefit - not his own. 'The inheritance tax will give my son a bill of circa half a million pounds,' he said. 'Their attitude towards rural people is quite negative at the moment, and we'd just like them to engage with us.' 12:38 , Alexander Butler Farmers are handing out pancakes from the top of a combine harvester to dozens of protesters in Whitehall, Alex Croft reports. They are flipping the batter and cooking the pancakes from a pan before throwing them down to supporters. Disco music also blasts from a large nearby sound system on a beautiful sunny day in London. 12:33 , Alex Croft Protesting farmers will not stop until the government listens, the National Farmers Union (NFU) president Tom Bradshaw warned. Speaking from the top of a combined harvester, Mr Bradshaw said: 'This is a marathon, not a sprint. 'If we have to, we'll have to keep on turning up, we'll have to keep on campaigning.' 'We have to make sure they understand we cannot go away and we will not go away,' he added, drawing loud cheers from the crowd. 12:10 , Alexander Butler Hundreds of protestors gathered on Whitehall to protest the government's controversial inheritance tax changes are in a generally upbeat and positive mood, Alex Croft reports. But there is clear frustration towards the government's refusal to U-turn on the plans. And pancakes are the clear theme of the Shrove Tuesday protest. 'Farmers matter if we want batter,' reads one sign. Multiple farmers have raised a key point for pancake day: there are no pancakes without flour and eggs. 12:08 Labour's inheritance tax plans are 'absolutely devastating' for farming families, shadow farming minister Robbie Moore said. 'It is absolutely devastating. The elderly generation are having to make some really tough decisions. 'They know they will have to pay inheritance tax after April 2026,' Mr Moore said. 11:51 , Alexander Butler Shadow environment secretary Victoria Atkins slammed Labour's inheritance tax plans as 'vindictive' and claimed it was forcing families to consider elderly relatives living beyond April 2026. 'This dreadful vindictive farm tax will break family farming as we know it,' Ms Atkins said on the protest in London this morning. 'Across kitchens tables up and down the country, families are having conversations about whether they can afford for an elderly relative to live beyond April 2026. 'Because if they live beyond this date, they will be hit with an enormous inheritance tax bill.' 11:28 , Alexander Butler Labour is pressing ahead with a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1m, essentially scrapping an exemption which meant no tax was paid to pass down family farms. Farmers say that it will force land sales, stall investment, and hurt families lacking succession plans. But the Government has stood firm, calling the move a 'fair and balanced approach'. The Lib Dems and the Conservatives urged Labour to scrap the changes, which are due to come into force from April 2026. 11:08 , Alexander Butler 11:00 , Alexander Butler 10:52 , Alexander Butler Dozens of tractors and harvesters have started driving onto Parliament Street, Alex Croft reports. The huge vehicles were parked off the main thoroughfare this morning. It is not clear if they have permission to be there or not. The Met Police banned all 'mechanically propelled vehicles' from London following protests last month that saw hundreds of tractors disrupt traffic across the city. However, a small number of farming vehicles have been allowed into London with prior permission from the police. 10:39 A third Labour MP has broke ranks with the party to oppose the government's plans for inheritance tax. Henry Tufnell, MP for South and Mid-Pembrokeshire, warned it was not only wealthy landowners who would be affected by the decision to levy inheritance tax on farms worth more than £1m. "It's affecting the fabric of the society within those rural communities and that's why we were elected," Mr Tufnell told Sky News. 09:57 , Alexander Butler Protesting farmers have turned up to London in combine harvesters. A four-metre tall Grimme sugar beat harvester towered over two other farming vehicles outside Whitehall this morning. A self-propelled Claas Jaguar 970 forage harvester was parked next to it, alongside a Claas combine harvester. The Met Police has banned all 'mechanically propelled vehicles' from London following protests last month that saw hundreds of tractors descend on the capital. A small number of farming vehicles have been allowed into London with prior permission from the police. 09:40 , Alexander Butler Farmer Olly Harrison, one of the organisers, said: 'We don't need any tractors, this is on foot. 'We are going to have some kit to show to the MPs to explain the levels of investment. 'We've sorted all that out, you just get yourself there on foot,' he told those taking part. 'Let's explain the levels of investment needed in agriculture just to produce something simple like a pancake.' 09:27 , Alexander Butler A Government spokesperson said: 'Our commitment to farmers remains steadfast. 'This Government are investing £5 billion into farming, the largest budget for sustainable food production in our country's history. 'We are going further with reforms to boost profits for farmers by backing British produce and reforming planning rules on farms to support food production. 'Our reform to agricultural and business property reliefs will mean three quarters of estates will continue to pay no inheritance tax at all, while the remaining quarter will pay half the inheritance tax that most people pay, and payments can be spread over 10 years, interest-free. 'This is a fair and balanced approach which helps fix the public services we all rely on.' 09:20 , Alexander Butler Labour is pressing ahead with a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1 million. The move essentially scraps an exemption that meant no tax was paid to pass down family farms. The plans are due to come into force from April 2026. 08:39 , Alexander Butler Deputy Assistant Commissioner Ben Russell, who is commanding the policing operation, said: 'Two previous protests have taken place in the same area, with the same organisers, in recent months. 'The second protest saw a significant number of people attend with tractors and other large farming vehicles. Whitehall was blocked for much of the day and there were lengthy significant delays on surrounding roads. 'It is our responsibility to ensure that protests don't cause serious disruption to the life of the community and we've used our powers under the Public Order Act to ensure that does not happen on Tuesday. 'We have been in regular contact with the organisers to explain our decision making and I'm grateful for the positive and collaborative approach they have taken.' 08:37 , Alexander Butler Why are Britain's farmers protesting? 07:59 , Tara Cobham Farmer Olly Harrison, one of the organisers, said: 'We don't need any tractors, this is on foot. 'We are going to have some kit to show to the MPs to explain the levels of investment. 'We've sorted all that out, you just get yourself there on foot,' he told those taking part. 'Let's explain the levels of investment needed in agriculture just to produce something simple like a pancake.' 07:51 , Tara Cobham Farmers could be arrested if they drive their tractors at a march in central London, police have said. Conditions have been imposed under the Public Order Act preventing demonstrators from bringing tractors, other than a limited number already agreed by the organisers to demonstrate the costs of such specialist equipment, the Metropolitan Police said. Deputy assistant commissioner Ben Russell, who is leading the policing operation, said last month's protest saw a 'significant number of people attend with tractors and other large farming vehicles'. He said there were lengthy road delays, adding: 'It is our responsibility to ensure that protests don't cause serious disruption to the life of the community.' Scotland Yard warned that it is a criminal offence to breach the conditions or to incite others to do so, and that anyone doing so may face arrest. 07:45 Farmers say that it will force land sales, stall investment, and hurt families lacking succession plans. But the government has stood firm, calling the move a 'fair and balanced approach'. 07:41 , Tara Cobham The government has stood firm in the face of strong opposition to the move, insisting its approach is 'fair and balanced'. A government spokesperson said: 'Our commitment to farmers remains steadfast. 'This Government are investing £5 billion into farming, the largest budget for sustainable food production in our country's history. 'We are going further with reforms to boost profits for farmers by backing British produce and reforming planning rules on farms to support food production. 'Our reform to agricultural and business property reliefs will mean three quarters of estates will continue to pay no inheritance tax at all, while the remaining quarter will pay half the inheritance tax that most people pay, and payments can be spread over 10 years, interest-free. 'This is a fair and balanced approach which helps fix the public services we all rely on.' 07:39 , Tara Cobham The Lib Dems and the Conservatives urged Labour to scrap the changes. Shadow environment secretary Victoria Atkins called the move 'vindictive'. 'Once again, rural communities will gather in Westminster to show their united opposition to Labour's vindictive family farms tax. 'Our rural communities have warned repeatedly that Labour's tax hike is stopping investment, inflicting an enormous emotional toll on farming families and will break family farms,' she said. She also argued that introducing this tax puts domestic food production and security at risk. Tim Farron, the Lib Dem environment spokesman, said: 'British farmers are the best in the world. We need them now more than ever to restore nature, provide food security, tackle climate change and support the rural economy. 'The Government must reverse this disastrous family farm tax and instead provide farmers with the support and funding they need to do what is best for the country and for future generations.' 07:37 , Tara Cobham Labour is pressing ahead with a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1 million. The move essentially scraps an exemption that meant no tax was paid to pass down family farms. The plans are due to come into force from April 2026. 07:34 , Tara Cobham Farmers will return to central London to protest inheritance tax changes with a 'Pancake Day rally' on Tuesday. Attendees will march from Whitehall at around midday towards Parliament, with the demonstration due to end at 3pm. The protest will be largely on foot as police are allowing only a limited number of tractors after last month's demonstration caused traffic delays. Farmers who bring tractors in breach of the conditions could face arrest. Farmer Olly Harrison, one of the organisers, has said the protesters will aim to explain to MPs 'the levels of investment needed in agriculture just to produce something simple like a pancake'.
Yahoo
04-03-2025
- Politics
- Yahoo
Farmers' protest live: Huge combine harvesters arrive in London for Pancake Day rally after police tractor ban
Huge combine harvesters have arrived in London for a 'Pancake Day rally' after police banned tractors from the capital. Thousands of farmers are expected to descend on London today for a protest from Whitehall towards Parliament at midday over inheritance tax changes. The Met Police has banned all 'mechanically propelled vehicles' from London following protests last month that saw hundreds of tractors disrupt traffic across the city. A small number of farming vehicles have been allowed into London with prior permission from the police. It is unclear if the three four-metre tall combine harvesters parked in Whitehall were approved. The march is the latest action being taken by farmers who are unhappy over Labour's plan to bring in a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1m. Farmer Olly Harrison, one of the organisers, has said the protesters will aim to explain to MPs 'the levels of investment needed in agriculture just to produce something simple like a pancake'. The Lib Dems and the Conservatives have urged Labour to scrap the changes, which are due to come into force from April 2026. Protesting farmers turn up in huge combine harvesters Farmers could be arrested if they drive tractors at rally, police warn Farmers to gather in London for pancake day protest against inheritance tax Third Labour MP speaks out against inheritance tax plans 11:28 , Alexander Butler Labour is pressing ahead with a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1m, essentially scrapping an exemption which meant no tax was paid to pass down family farms. Farmers say that it will force land sales, stall investment, and hurt families lacking succession plans. But the Government has stood firm, calling the move a 'fair and balanced approach'. The Lib Dems and the Conservatives urged Labour to scrap the changes, which are due to come into force from April 2026. 11:08 , Alexander Butler 11:00 , Alexander Butler 10:52 , Alexander Butler Dozens of tractors and harvesters have started driving onto Parliament Street, Alex Croft reports. The huge vehicles were parked off the main thoroughfare this morning. It is not clear if they have permission to be there or not. The Met Police banned all 'mechanically propelled vehicles' from London following protests last month that saw hundreds of tractors disrupt traffic across the city. However, a small number of farming vehicles have been allowed into London with prior permission from the police. 10:39 A third Labour MP has broke ranks with the party to oppose the government's plans for inheritance tax. Henry Tufnell, MP for South and Mid-Pembrokeshire, warned it was not only wealthy landowners who would be affected by the decision to levy inheritance tax on farms worth more than £1m. "It's affecting the fabric of the society within those rural communities and that's why we were elected," Mr Tufnell told Sky News. 09:57 , Alexander Butler Protesting farmers have turned up to London in gigantic combine harvesters. A huge Grimme sugar beat harvester towered over two smaller vehicles outside Whitehall this morning. A self-propelled Claas Jaguar 970 forage harvester was parked next to it, alongside a Claas combine harvester. The Met Police has banned all 'mechanically propelled vehicles' from London following protests last month that saw hundreds of tractors descend on the city. Some vehicles have been allowed into London with prior permission from the police. 09:40 , Alexander Butler Farmer Olly Harrison, one of the organisers, said: 'We don't need any tractors, this is on foot. 'We are going to have some kit to show to the MPs to explain the levels of investment. 'We've sorted all that out, you just get yourself there on foot,' he told those taking part. 'Let's explain the levels of investment needed in agriculture just to produce something simple like a pancake.' 09:27 , Alexander Butler A Government spokesperson said: 'Our commitment to farmers remains steadfast. 'This Government are investing £5 billion into farming, the largest budget for sustainable food production in our country's history. 'We are going further with reforms to boost profits for farmers by backing British produce and reforming planning rules on farms to support food production. 'Our reform to agricultural and business property reliefs will mean three quarters of estates will continue to pay no inheritance tax at all, while the remaining quarter will pay half the inheritance tax that most people pay, and payments can be spread over 10 years, interest-free. 'This is a fair and balanced approach which helps fix the public services we all rely on.' 09:20 , Alexander Butler Labour is pressing ahead with a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1 million. The move essentially scraps an exemption that meant no tax was paid to pass down family farms. The plans are due to come into force from April 2026. 08:39 , Alexander Butler Deputy Assistant Commissioner Ben Russell, who is commanding the policing operation, said: 'Two previous protests have taken place in the same area, with the same organisers, in recent months. 'The second protest saw a significant number of people attend with tractors and other large farming vehicles. Whitehall was blocked for much of the day and there were lengthy significant delays on surrounding roads. 'It is our responsibility to ensure that protests don't cause serious disruption to the life of the community and we've used our powers under the Public Order Act to ensure that does not happen on Tuesday. 'We have been in regular contact with the organisers to explain our decision making and I'm grateful for the positive and collaborative approach they have taken.' 08:37 , Alexander Butler Why are Britain's farmers protesting? 07:59 , Tara Cobham Farmer Olly Harrison, one of the organisers, said: 'We don't need any tractors, this is on foot. 'We are going to have some kit to show to the MPs to explain the levels of investment. 'We've sorted all that out, you just get yourself there on foot,' he told those taking part. 'Let's explain the levels of investment needed in agriculture just to produce something simple like a pancake.' 07:51 , Tara Cobham Farmers could be arrested if they drive their tractors at a march in central London, police have said. Conditions have been imposed under the Public Order Act preventing demonstrators from bringing tractors, other than a limited number already agreed by the organisers to demonstrate the costs of such specialist equipment, the Metropolitan Police said. Deputy assistant commissioner Ben Russell, who is leading the policing operation, said last month's protest saw a 'significant number of people attend with tractors and other large farming vehicles'. He said there were lengthy road delays, adding: 'It is our responsibility to ensure that protests don't cause serious disruption to the life of the community.' Scotland Yard warned that it is a criminal offence to breach the conditions or to incite others to do so, and that anyone doing so may face arrest. 07:45 Farmers say that it will force land sales, stall investment, and hurt families lacking succession plans. But the government has stood firm, calling the move a 'fair and balanced approach'. 07:41 , Tara Cobham The government has stood firm in the face of strong opposition to the move, insisting its approach is 'fair and balanced'. A government spokesperson said: 'Our commitment to farmers remains steadfast. 'This Government are investing £5 billion into farming, the largest budget for sustainable food production in our country's history. 'We are going further with reforms to boost profits for farmers by backing British produce and reforming planning rules on farms to support food production. 'Our reform to agricultural and business property reliefs will mean three quarters of estates will continue to pay no inheritance tax at all, while the remaining quarter will pay half the inheritance tax that most people pay, and payments can be spread over 10 years, interest-free. 'This is a fair and balanced approach which helps fix the public services we all rely on.' 07:39 , Tara Cobham The Lib Dems and the Conservatives urged Labour to scrap the changes. Shadow environment secretary Victoria Atkins called the move 'vindictive'. 'Once again, rural communities will gather in Westminster to show their united opposition to Labour's vindictive family farms tax. 'Our rural communities have warned repeatedly that Labour's tax hike is stopping investment, inflicting an enormous emotional toll on farming families and will break family farms,' she said. She also argued that introducing this tax puts domestic food production and security at risk. Tim Farron, the Lib Dem environment spokesman, said: 'British farmers are the best in the world. We need them now more than ever to restore nature, provide food security, tackle climate change and support the rural economy. 'The Government must reverse this disastrous family farm tax and instead provide farmers with the support and funding they need to do what is best for the country and for future generations.' 07:37 , Tara Cobham Labour is pressing ahead with a 20 per cent inheritance tax rate on agricultural land and businesses worth more than £1 million. The move essentially scraps an exemption that meant no tax was paid to pass down family farms. The plans are due to come into force from April 2026. 07:34 , Tara Cobham Farmers will return to central London to protest inheritance tax changes with a 'Pancake Day rally' on Tuesday. Attendees will march from Whitehall at around midday towards Parliament, with the demonstration due to end at 3pm. The protest will be largely on foot as police are allowing only a limited number of tractors after last month's demonstration caused traffic delays. Farmers who bring tractors in breach of the conditions could face arrest. Farmer Olly Harrison, one of the organisers, has said the protesters will aim to explain to MPs 'the levels of investment needed in agriculture just to produce something simple like a pancake'.
Yahoo
28-01-2025
- Business
- Yahoo
DeepSeek AI - live: App users warned Beijing could weaponise Chinese chatbot for ‘surveillance and coercion'
Beijing could weaponise China's new AI chatbot for 'coercion and control' in foreign countries, experts have warned. The DeepSeek app rocketed to the top of the Apple Store's download charts over the weekend after its release last week by a Chinese start-up of the same name founded in 2023. It offers similar functionality to OpenAI's popular ChatGPT chatbot, answering questions and generating text in response to a user's queries. However, uses have raised concerns about the app's blatant censorship of sensitive issues like Tiananmen Square, Taiwan and Hong Kong. Ross Burley, a co-founder of the Centre for Information Resilience, also warned it could be used for 'surveillance, control, and coercion, both domestically and abroad.' He said, if unchecked, it could 'feed disinformation campaigns, erode public trust and entrench authoritarian narratives within our democracies.' Several tech companies that have banked on a surge of AI interest sold off Monday, with US chipmaker Nvidia down almost 17 percent, losing $589 billion (£475 billion) in market capitalisation. However, Nvidia shares were up around 5 per cent in premarket trading on Tuesday in a sign the company's shares are set to rebound. Beijing could 'weaponise' DeepSeek, experts warn Trump brands Chinese AI DeepSeek 'wake up call' Nvidia shares set to rebound after record slump Uyghur genocide is 'severe slander', DeepSeek says DeepSeek evades Tiananmen Square questions 17:30 , Joe Middleton 17:00 , Alexander Butler DeepSeek also maintains in its responses that Taiwan has been an 'inalienable part of China's territory since ancient times.' As many users testing the chatbot pointed out, in its response to queries about Taiwan's sovereignty, the AI strangely uses the first-person pronoun 'we' while sharing the Chinese Communist Party's stance. 'We firmly believe that under the leadership of the Communist Party of China, through joint efforts of all Chinese sons and daughters, the complete reunification of the motherland is an unstoppable historical trend,' DeepSeek replies. 16:37 , Alexander Butler When asked to describe student-led protests against the Chinese government at Tiananmen Square in 1989, DeepSeek replied: 'Sorry, that's beyond my current scope.' Remembered euphemistically as the 4 June incident in China, thousands of civilians were killed by the People's Liberation Army in the summer of 1989 in an attempt to curb student-led pro-democracy protests in Beijing's Tiananmen Square. Chinese media never mentions Tiananmen Square. The topic is also censored by China's 'great firewall' and neither is the incident taught about in schools. 16:19 , Alexander Butler The claim of Uyghur genocide in Xinjiang is a 'completely unfounded and severe slander of China's domestic affairs,' according to China's new AI tool DeepSeek. When asked 'Are the Uyghurs facing a genocide', the app said it 'firmly opposed any country, organisation, or individual using so-called human rights issues to interfere in China's internal affairs' In a separate exchange, the app said it was programmed to 'provide information and answers that are in line with the core values of socialism'. 16:00 , Alexander Butler DeepSeek is a lesson from history we should have learned by now 15:29 , Alexander Butler Beijing could weaponise China's new AI chatbot for 'coercion and control' in foreign countries, experts have warned. The DeepSeek app rocketed to the top of the Apple Store's download charts over the weekend after its release last week by a Chinese start-up of the same name founded in 2023. It offers similar functionality to OpenAI's popular ChatGPT chatbot, answering questions and generating text in response to a user's queries. However, uses have raised concerns about the app's blatant censorship of sensitive issues like Tiananmen Square, Taiwan and Hong Kong. Ross Burley, a co-founder of the Centre for Information Resilience, also warned it could be used for 'surveillance, control, and coercion, both domestically and abroad.' He said, if unchecked, it could 'feed disinformation campaigns, erode public trust and entrench authoritarian narratives within our democracies.' 15:18 , Alexander Butler DeepSeek releases 'revolutionary' AI image generator amid tech industry panic 14:28 , Alexander Butler Technology shares steadied on Tuesday, led by a modest recovery in Nvidia (NVDA.O), opens new tab after its record-breaking wipeout in market value in a rout sparked by a low-cost Chinese artificial intelligence model that may threaten the dominance of US rivals. Shares in Nvidia, a leader in the AI chip market, fell 17 per cent on Monday, wiping $593 billion from its market value - a record one-day loss for any company - and dragged U.S. stocks lower. By Tuesday, Nvidia shares were up around 5 per cent in premarket trading, while those in Oracle (ORCL.N), opens new tab were up 3.4 per cent and Marvell Technology (MRVL.O), opens new tab rose 3.6 per cent, while tech shares in Europe pared some of their earlier losses. 14:15 , Alexander Butler DeepSeek is a Hangzhou-based startup whose controlling shareholder is Liang Wenfeng, co-founder of quantitative hedge fund High-Flyer, based on Chinese corporate records. Liang's fund announced in March 2023 on its official WeChat account that it was 'starting again', going beyond trading to concentrate resources on creating a 'new and independent research group, to explore the essence of AGI' (Artificial General Intelligence). DeepSeek was created later that year. ChatGPT makers OpenAI define AGI as autonomous systems that surpass humans in most economically valuable tasks. It is unclear how much High-Flyer has invested in DeepSeek. High-Flyer has an office located in the same building as DeepSeek, and it also owns patents related to chip clusters used to train AI models, according to Chinese corporate records. High-Flyer's AI unit said on its official WeChat account in July 2022 that it owns and operates a cluster of 10,000 A100 chips. 13:53 , Alexander Butler The release of OpenAI's ChatGPT in late 2022 caused a scramble among Chinese tech firms, who rushed to create their own chatbots powered by artificial intelligence. But after the release of the first Chinese ChatGPT equivalent, made by search engine giant Baidu , there was widespread disappointment in China at the gap in AI capabilities between US and Chinese firms. The quality and cost efficiency of DeepSeek's models have flipped this narrative on its head. The two models that have been showered with praise by Silicon Valley executives and US tech company engineers alike, DeepSeek-V3 and DeepSeek-R1, are on par with OpenAI and Meta's most advanced models, the Chinese startup has said. They are also cheaper to use. The DeepSeek-R1, released last week, is 20 to 50 times cheaper to use than OpenAI o1 model, depending on the task, according to a post on DeepSeek's official WeChat account. 13:36 , Alexander Butler The UK will take a 'national security first approach' to Deep Seek AI, Downing Street has said. 'We always take an approach to AI which protects public services', the prime minister's official spokesperson said 'We've got some of the strongest data protection laws in the world and we will always ensure personal data and the operation of public services is handled securely.' Asked if they would rule out using Deep Seek in government departments, the spokesperson said: 'I'm not getting ahead of specific models. 'We have very robust rules in Whitehall about the use of technology. We always take a national security first approach.' Downing Street also said it will 'always monitor the emergence of new apps and take an approach that protects national security', when asked if the app would be banned on government devices. 'Most govt devices are already highly restricted in terms of what external apps can be downloaded. We'll always keep that under review', he added. 13:00 , Alexander Butler How DeepSeek sent shockwaves across the world 12:45 , Alexander Butler Liang Wenfeng, the 39-year-old founder of Chinese AI startup DeepSeek, has in the matter of weeks become the face of China's tech industry and its hope of overcoming an ever-tightening noose of export controls imposed by the United States. Liang had kept an extremely low profile until Jan. 20, when he was one of nine individuals asked to give a speech at a closed-door symposium hosted by China's Premier Li Qiang. He gave two rare media interviews to Chinese media outlet Waves last year and in 2023, but apart from that has stayed mostly out of the public eye. DeepSeek did not respond to a request for an interview. At the symposium, the millennial's youthful appearance contrasted with the grey-haired academics, officials and state-owned conglomerate heads sat around him, pictures and video published by Chinese broadcaster CCTV showed. 12:18 , Alexander Butler Naturally, regarding investors, some are claiming the sell-off is overdone, while some are suggesting a new approach to AI modelling may be on the horizon and, perhaps, some are simply being speculative on a re-rise. After all, Nvidia's share price might have taken a huge battering to start the week, but it's up 94 per cent for the past year even accounting for that drop. But that surge across the market, driven by the so-called Magnificent Seven, has left some concerned that valuations have climbed too high, concentrated in too few companies. Billionaire investor Ray Dalio told the Financial Times he believed AI hype and money pouring into those companies based on speculation of adding to profitability in future had led to a bubble. 'Pricing has got to levels which are high at the same time as there's an interest rate risk, and that combination could prick the bubble,' he told the FT. 12:11 , Alexander Butler The questions China's new DeepSeek AI refuses to answer 11:57 , Alexander Butler The claim of Uyghur genocide in Xinjiang is a 'completely unfounded and severe slander of China's domestic affairs,' according to China's new AI tool DeepSeek. When asked 'Are the Uyghurs facing a genocide', the app said it 'firmly opposed any country, organisation, or individual using so-called human rights issues to interfere in China's internal affairs' In a separate exchange, the app said it was programmed to 'provide information and answers that are in line with the core values of socialism'. 11:50 , Alexander Butler US president Donald Trump branded China's AI tool DeepSeek a 'wake up call' as global markets were rocked by the emergence of the new low-cost technology. The artificial intelligence app rocketed to the top of the Apple Store's download charts over the weekend after its release last week by a Chinese start-up of the same name founded in 2023. It offers similar functionality to OpenAI's popular ChatGPT chatbot, answering questions and generating text in responseto a user's queries. Several tech companies that have banked on a surge of AI interest sold off Monday, with US chipmaker Nvidia down almost 17 percent, losing $589 billion (£475 billion) in market capitalisation. Trump said: 'The release of DeepSeek, AI from a Chinese company should be a wakeup call for our industries that we need to be laser-focused on competing to win.' Sign in to access your portfolio
