Problems

• The Bank for International Settlements (BIS) issued a warning in its 2026 report regarding a potential AI bubble burst and escalating risks within private credit markets. • The report highlights concerns over the rapid growth of debt-funded capital expenditures (capex) used to build AI infrastructure. • This trend is significant as it could trigger a systemic credit event, potentially fueling inflation and exacerbating existing fiscal instabilities.

Official statement offers the most detailed official account yet of the highly unusual and fatal incident in BeijingChinese authorities said the man who flew a small plane into Beijing’s tallest skyscraper last week was a 66-year-old who had mental health problems.The statement published on Thursday offered the most detailed official account yet of the highly unusual incident that occurred in Beijing’s central business district on the evening of 26 June. Continue reading...

• New Federal Reserve Chairman Kevin M. Warsh has pledged to restore price stability to combat ongoing U.S. inflation problems. • Internal divisions have emerged within the central bank regarding whether achieving this stability will necessitate higher borrowing costs. • Warsh is currently opposing the practice of sending explicit signals to the public about the future path of monetary policy.

• Margarida Ramos argues that the EU's push for "Made in Europe" AI risks incurring unsustainable costs for public budgets, workers, and the environment. • European companies like Mistral are lobbying for "Buy European AI" procurement preferences, tax incentives, and deregulation to drive demand for homegrown systems. • Mistral frames the development of domestic AI as a "collective duty" necessary to ensure technology reflects European values and wins the global AI race.

Soaring cost of building materials, lack of affordability and planning bottlenecks are some of the obstacles thwarting housing targetAt South and City College in Birmingham, dozens of young people clad in hi-vis vests and hard hats are building mini-walls and plastering half-formed rooms.Some weave in and out of stacks of bricks with wheelbarrows, while others use spirit levels to check the walls are straight and flat. In a few days time, these walls will be demolished and the plastering scraped away, for a new class to come in and try their hands. Continue reading...

Prime minister says ban would come into force next year and calls for united action across European UnionGreece has announced a social media ban for under-15s from 1 January, with the country’s prime minister, Kyriakos Mitsotakis, citing rising anxiety, sleep problems and the addictive design of online platforms – although he acknowledged it may incur the wrath of some children.“We have decided to go ahead with a difficult but necessary measure: ban access to social media for children under 15 years old,” he said in a TikTok video intended to address a young audience. Continue reading...

Research finds cockapoo, cavapoo and labradoodle dogs display more undesirable behaviours than breeds they derive fromThe UK has oodles of doodles but a study might offer paws for thought: researchers have found some of these designer crossbreed dogs show more behavioural problems than the pure breeds from which they derive.Crosses between poodles and other dog breeds have become increasingly popular in the UK, with research suggesting the trend is – at least in part – driven by the expectation such dogs will be hypoallergenic, healthy and good with children. Continue reading...