The day was dominated by geopolitical calculations, economic maneuvers and industrial changes. Google committed billions of dollars to Britain’s AI, UK employment data remained unchanged, Germany’s Thyssenkrupp entertained a bid for takeover from India’s Jindal and Brussels delayed its next round sanctions against Russia under US pressure.
Google invests £5 billion into UK AI industry
Alphabet’s Google announced that it would invest PS5 billion (6.8 billion dollars) in Britain over the next two years, to strengthen its artificial intelligence research and infrastructure.
This announcement from Tuesday highlights the UK as a center for AI research and development, with projects in health care, science, and Google DeepMind’s London office.
This investment is made just before US President Donald Trump makes his state visit to Britain. He will be expected to announce an array of deals in the economic field.
Trump’s visit will include US technology leaders including Nvidia Jensen Huang, OpenAI Sam Altman and Nvidia CEO Jensen Huang.
The announcement is a welcome boost for the Labour Government of Prime Minister Keir starmer, who has placed AI services and data centers at the core of his growth strategy.
Critics argue, however, that the tax policy still hinders homegrown companies from expanding.
UK wage growth slows, but unemployment remains steady
According to the Office for National Statistics, the UK unemployment rate remained at 4,7% for the three-month period ending in July.
This figure is unchanged from last year and was in line with the expectations.
The wage growth has slowed down. The average earnings without bonuses increased by 4.8%, which is down from the previous 5%.
The total growth in earnings, which includes bonuses, was 4.7%. This also met expectations.
In August, the labour market weakened further. Payroll employment fell by 127,000 compared to a year ago and vacant positions dropped by 10,000.
Economists say the numbers reflect a slowdown of hiring, as companies adjust to tighter economic conditions.
Thyssenkrupp accepts Jindal’s bid for the steel division
Thyssenkrupp AG in Germany confirmed that it received an offer from India’s Jindal Group to take over its steel division.
According to the company, it will carefully evaluate the non-binding proposal, paying attention to the viability of the business in the long term, employment and green transition.
Steel unit was once the symbol of German industry power. But high energy costs, unfunded pension obligations and persistently low steel prices have weighed it down.
The previous bidders used “negative offers” in order to show the size of the obligations.
Thyssenkrupp shares soared up to 7.9% after the announcement. Stocks have tripled in value this year on the back of hopes for restructuring and Europe’s growing defence industry.
EU delays Russia sanctions after US push
According to reports, the European Union postponed their 19th package against Russia originally scheduled for September 17 after Washington urged them to increase sanctions.
Bloomberg and Politico both reported that Trump wants European partners completely to stop buying Russian oil before announcing its own sanctions.
According to reports, the US has also urged G7 member countries to apply tariffs between 50-100% to Chinese and Indian oil imports.
EU officials have been working closely with G7 counterparts in order to coordinate positions. A new sanctions package is expected within the next few weeks.
The post Europe Bulletin: Google Bets PS5B On UK AI; Thyssenkrupp Weighs Jindal Bid may be updated as new developments unfold
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