AI to drive up UK youth unemployment, as Alphabet raises $80bn for spending splurge – business live
TL;DR
Rolling coverage of the latest economic and financial news Anthropic confidentially files for initial public offering on US stock market In a landmark moment, gold has overtaken US government bonds as the world’s top reserve asset, according to calculations from the European Central Bank. The ECB says that gold made up 27% of total official foreign reserves at the end of 2025, ahead of US Treasuries (22% of reserves) and the euro (15%). Forces of fragmentation are becoming more pronounced.
Nauti's Take
Exciting: the day shows how much capital is pouring into AI — Alphabet's $80bn raise signals enormous confidence in the technology and its infrastructure. The catch: if AI simultaneously fuels UK youth unemployment, a gap opens between investment euphoria and labour-market reality.
Young people entering work should build AI skills, while policymakers and firms need to actively cushion the transition.
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