Category: 3. Business

  • Elon Musk’s xAI joins race to build ‘world models’ to power video games

    Elon Musk’s xAI joins race to build ‘world models’ to power video games

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    Elon Musk’s xAI is pushing to build so-called world models, joining rivals such as Meta and Google in the race to develop artificial intelligence systems that can navigate and design physical environments.

    The San Francisco-based start-up hired specialists from Nvidia over the summer to work on these next-generation AI models, which train on videos and data from robots to understand the real world.

    World models could push the capabilities of AI beyond that of the large language models, trained on text, that underpin popular AI tools such as ChatGPT and xAI’s Grok.

    Two people familiar with the plans said the company was building world models with a view to applying them in gaming, where they could be used to generate interactive 3D environments. One of the people added that they could be applied to AI systems for robots.

    xAI has hired Zeeshan Patel and Ethan He, two AI researchers from Nvidia with experience in world models. Nvidia has been a leader in developing this technology with its Omniverse platform, which creates and runs simulations.

    Some tech groups have vast expectations of world models, which could unlock uses for AI beyond software and computers in physical products such as humanoid robots. Last month, Nvidia told the Financial Times that the potential market for world models could be almost the size of the present global economy. 

    xAI would release a “great AI-generated game before the end of next year”, Musk said in a post on X, confirming a target the billionaire set last year.

    On Tuesday, xAI launched its latest image and video generation model, which it said had “massive upgrades” and is free to use.

    Current video generation models, such as OpenAI’s Sora, generate frames of images for videos by predicting patterns learned from training data.

    World models would be a big advance as they would have a causal understanding of physics and how objects interact in different environments in real time.

    The company is advertising for technical staff in both image and video generation to join its “omni team”, which “creates magical AI experiences beyond text, enabling understanding and generation of content across various modalities, including image, video and audio”.

    Salaries for these jobs range from $180,000 to $440,000. It also has an open position for a “video games tutor”, who will train Grok to produce video games and enable “users to explore AI-assisted game design”, for $45 to $100 an hour.

    Musk follows other leading AI labs, such as Google and Meta, that are also working on these systems.

    However, world models remain a huge technical challenge. Finding sufficient data to simulate the real world and to train such models has proved difficult and costly.

    Michael Douse, head of publishing at Larian Studios, which develops the video game Baldur’s Gate 3, said on X this week that AI could not solve the “big problem” for the games industry, which is “leadership [and] vision”.

    He added that the industry did not need “more mathematically produced, psychologically trained gameplay loops [but] rather more expressions of worlds that folks are engaged with, or want to engage with”.

    xAI, Patel and He did not respond to requests for comment.

    Additional reporting by Hannah Murphy in San Francisco

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  • China blames Trump and US for escalating trade war

    China blames Trump and US for escalating trade war

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    China has slammed Donald Trump’s plan to impose additional 100 per cent tariffs on Chinese exports and threatened new countermeasures as it blamed the US for a rapid deterioration of relations between the world’s two biggest economies.

    In a statement the commerce ministry said that since the two countries held trade talks in Madrid last month the US had “continuously introduced a series of new restrictions against China”, including putting Chinese companies on a trade blacklist.

    “China’s position on tariff wars has been consistent: we do not want to fight, but we are not afraid to fight,” the ministry said on Sunday. 

    In the latest escalation in the two countries’ trade war, the US president said on Friday that he would impose “large scale” export controls on “virtually every product they make” including “all critical software”, alongside the new tariffs. The new measures will be imposed on or before November 1, according to a social media post by Trump.

    “Threatening to impose high tariffs at every turn is not the right way to engage with China,” the commerce ministry said. “Should the US persist in its course, China will resolutely take corresponding measures to safeguard its legitimate rights and interests.” 

    Trump’s threat followed a volley of trade measures by China over the past two days that expanded its export controls on rare earths and related technologies, as well as equipment and materials for making batteries.

    Beijing also launched an antitrust investigation into US chipmaker Qualcomm and imposed fees on American-owned ships docking at Chinese ports.

    Beijing’s actions this week appeared to be a strategy to exert leverage ahead of an expected face-to-face meeting between Trump and Xi in South Korea. Trump on Friday cast doubt on whether the meeting would go ahead but later said they would probably meet.

    China’s new export controls have sparked fears of widespread disruptions to global manufacturing. 

    Beijing said on Sunday that the impact on supply chains would be “extremely limited” and insisted companies “need not worry”, saying any applications for civilian use that comply with regulations would be approved. 

    The commerce ministry added that the US side had for a long time “abused export controls” and overstretched the concept of national security.

    Trump’s statement, issued via his Truth Social media platform, raises the prospects of an end to the détente in the US-China trade war since a truce reached in Geneva in May. 

    Before that a virtual trade embargo loomed between the two countries after Trump hit Beijing with 145 per cent tariffs and Xi retaliated with 125 per cent levies on goods coming from the US.

    Feng Chucheng, a Beijing-based founding partner at Hutong Research, an independent advisory, said following the Madrid talks both sides had appeared aligned in avoiding escalation ahead of the proposed Xi-Trump meeting in late October.

    However, that changed after the US decision in September to tighten export controls on Chinese companies, to make it harder to circumvent rules designed to slow China’s ability to develop advanced semiconductors.

    Beijing has also opposed Washington’s decision to increase fees for China-built vessels visiting US ports.

    “From Xi’s perspective, these actions are not only substantive escalations but further confirmation of low credibility of the Trump administration,” Feng said. 

    He said Beijing was reactivating a playbook used after Trump’s initial tariffs in April, “escalating first to force a negotiation reset, rather than waiting passively for the next talks”.

    The White House, US Trade Representative and Treasury did not immediately respond to requests for comment.

    Yanmei Xie, a senior associate fellow with the Mercator Institute for China Studies, said while the US had leverage on trade, and both countries were exposed to the others’ export controls, China might have the “upper hand” when it came to vulnerabilities in the corporate sector.

    “There are way more American companies producing in China than the other way around, and some of them, like Apple and Tesla, are the crown jewel of corporate America,” she said.

    Cory Combs, associate director of Beijing-based consultancy Trivium China, said Trump’s latest escalation, including threatening to walk away from talks with Xi, might spark a recalibration from Beijing. 

    “Realistically I think Beijing is rapidly adjusting the approach — and perhaps the leadership does not even know exactly what is next,” he said.

    Additional contributions by Wang Xueqiao in Shanghai

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  • Rail operator Greater Anglia transfers to public ownership

    Rail operator Greater Anglia transfers to public ownership

    PA Media A Greater Anglia train full of passengersPA Media

    Greater Anglia runs the key commuter service between Norwich and London Liverpool Street

    Greater Anglia has become the latest rail operator to enter into public ownership as part of the government’s renationalisation of the network.

    The company runs trains from Cambridge, Ipswich, Norwich and Colchester to London, as well as Stansted Airport, Peterborough and smaller lines.

    Its transfer on Sunday means half of all rail operators are publicly owned, which Greater Anglia described as another step towards a “simpler, more unified” network of Great British Railways.

    “Passengers commuting into Norwich or heading for a day out in Cambridge will be travelling on services that are owned by the public, and run with their interests front of mind,” said Transport Secretary Heidi Alexander.

    “We’re reforming a fragmented system and laying the foundations for a more reliable, efficient and accountable railway – one that puts passengers first and delivers the high standards they rightly expect.”

    Martin Giles/BBC Heidi Alexander, smiling broadly and looking down the camera. She is standing outside, on a station platform, on a bright sunny day. A train, which is out of focus, can be seen behind her. She is wearing a dark coloured jacket over a top of the same colour. Her wavy hair is falling down to her shoulders.Martin Giles/BBC

    Heidi Alexander visited Norwich railway station last week, ahead of the transfer

    Last week Greater Anglia, which handled 81.8 million passenger journeys in 2024-25, was named Rail Operator of the Year at the National Transport Awards.

    The Department for Transport (DfT) said the company, with government support, would continue to deliver regional growth.

    Two new stations are opening — Beaulieu Park in north Chelmsford this month and Cambridge South early next year — and the operator has a new fleet of bi-mode trains.

    Martin Giles/BBC An image of the side of a train, standing at a platform. Only the lower part of a carriage can be seen, along side the edge of the platform. A sticker on the side has the parallel lines railway logo and the text 'Great British Railways - Coming Soon'. The lower section of two windows are also visible above and to the right of the sticker. A thick white line denotes the edge of the platform, which is otherwise covered in patterned tiles and light coloured asphalt.Martin Giles/BBC

    Greater Anglia will eventually become part of Great British Railways

    Greater Anglia’s managing director Martin Beable said the move was an “exciting opportunity” to build on its success.

    “By working more closely with the wider family of publicly owned operators, we can share expertise, drive innovation, and deliver even better journeys for our passengers across the Anglia region,” he added.

    “This transition also brings us one step closer to Great British Railways – a simpler, more unified network that puts passengers at its heart.

    “Together, we can create a railway that drives growth, sustainability, and pride for the communities we serve and right across the UK.”

    Greater Anglia joins c2c, Northern, TransPennine Express, Southeastern, LNER and South Western Railway, which are currently operated by DfT Operator Limited (DFTO) on behalf of the government.

    West Midlands Trains services will transfer back to the state on 1 February, followed by Govia Thameslink Railway (GTR) on 31 May, with Chiltern Railways and Great Western Railways services expected to follow, the DfT said.

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  • PSX faces pressure amid geopolitical tensions, IMF delays – Dawn

    1. PSX faces pressure amid geopolitical tensions, IMF delays  Dawn
    2. PSX ends in red as IMF talks, border tensions weigh  Dawn
    3. KSE-100 sheds over 1,400 points amid late profit-taking  Business Recorder
    4. Stock market loses 1,432 points  The Nation (Pakistan )
    5. Profit-taking ends five-week rally at PSX  The Express Tribune

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  • PSX faces pressure amid geopolitical tensions, IMF delays – Dawn

    1. PSX faces pressure amid geopolitical tensions, IMF delays  Dawn
    2. Profit-taking ends five-week rally at PSX  The Express Tribune
    3. Stocks continue to slide  Business Recorder
    4. PSX dips 0.45% as investors cash in gains amid IMF dialogue  Profit by Pakistan Today
    5. PSX Closing Bell: Non Stop Slide  Mettis Global

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  • Australia battles ‘superweeds’ threat to key wheat exports

    Australia battles ‘superweeds’ threat to key wheat exports

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    Charlie Baldry, a fifth-generation wheat farmer outside Cootamundra in rural New South Wales, kicked a patch of waxy weeds that, left unchecked, could wipe out his crop.

    “If it gets away from you, it can wipe out a whole paddock,” he said. “It’s public enemy number one.”

    Wimmera Ryegrass is a scourge for Australian wheat farmers. The red-stemmed grass, introduced in the 1880s as grazing fodder, has since spread to more than 8mn hectares of grain crops across the country. It now costs farmers about A$93mn (US$61mn) a year in lost revenue, according to the Grains Research and Development Corp.

    It is also among the most resistant to herbicides, according to scientists, with farmers and agribusiness racing to find new chemicals to fight the weed that threatens one of the country’s most important export crops.

    That effort has taken on added urgency. Canberra is set to rule by the end of the year on the use of the pesticide paraquat, which is already banned in many countries due to health and environmental concerns. Global opposition to other herbicides such as Bayer’s glyphosate has also grown, including from US health secretary Robert F Kennedy Jr.

    Jack Hogan, an agronomist who works near Cootamundra, said restrictions on paraquat would make life much harder for farmers already struggling with weed resistance.

    Wimmera Ryegrass, introduced in the 1880s, has become a scourge for Australia’s wheat farmers © Zhbampton/Dreamstime

    “If the paddocks are already resistant . . . the paraquat review presents a major challenge,” he said. “It’s pretty scary.”

    The Australian Pesticides and Veterinary Medicines Authority, a regulator, declined to comment.

    Farmers have long tried to suppress ryegrass growth by rotating crops and animals, as well as with cocktails of pesticides including paraquat, glyphosate and clethodim. Even a small patch of ryegrass often requires farmers to resort to “double knocking” — or dousing the entire field with two pesticides — which can result in the loss of the entire crop.

    “Uncontrolled weeds can easily lead to 40 per cent of losses in a harvest. Sometimes it doesn’t make sense to harvest at all,” said Victoria Corless, chief executive of herbicide developer Moa Technology.

    Australia’s wheat industry is a major contributor to domestic and global food supplies, and saw an uptake in demand after Russia’s full-scale invasion of Ukraine in 2022. Exports are projected to hit A$9.7bn (US$6.4bn) in the 2026 financial year, according to government data.

    “Australia plays a critical role in supplying Asia with wheat, and accounts for over a 10th of global wheat exports,” said Dennis Voznesenski, an analyst with Commonwealth Bank and author of War and Wheat. 

    But the industry has been suffering what Corless called an “innovation drought” in new herbicides, leaving farmers without new products to combat increasingly resistant “superweeds”.

    “Nature will find a way to evolve its defences,” she said. “In agriculture, if you’re not looking at the weeds, you’re in trouble.”

    Weed resistance is particularly prevalent in Australia, making the country a useful laboratory for the next generation of herbicides.

    Moa’s head of trials Tom Clark
    Tom Clark, head of trials at Moa, examines ryegrass shoots in a canola field © Nic Fildes

    Bayer, the German agritech company behind glyphosate, has been testing icafolin-methyl, its first novel herbicide in three decades, in Horsham, Victoria, via a programme with the government-backed GRDC.

    It was developed with “CropKey”, a predictive analytics tool that Bayer hopes will speed up pesticide research and development.

    “We’re very hopeful the pipeline will deliver products useful for Australia and other countries as well,” said Tony May, head of sales at Bayer’s Australian crop science division.

    He noted that the costs and timeline for bringing a new herbicide to market have more than doubled over the past 20 years due to more stringent human and environmental safety regulations.

    Moa, meanwhile, is an Oxford university spin-off that tests potential herbicides against prehistoric ancient plant species.

    “Australia has more types of weeds that are resistant to herbicides than anywhere else,” said Moa’s head of trials Tom Clark, adding that the country started observing glyphosate resistance three decades before the UK.

    The company is also testing “amplifier” products that are added to existing pesticides to improve effectiveness and can be brought to market faster.

    In Canowindra, 150km north of Cootamundra, Clark examines the stubble of a canola field to see how ryegrass shoots are reacting to various doses of Moa’s herbicides.

    “If you can kill them in Australia then you know you’re doing well,” he said.

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  • Evolution and Outcome of a Pediatric Pulmonary Rehabilitation Program in Hong Kong Over the Past Decade

    Evolution and Outcome of a Pediatric Pulmonary Rehabilitation Program in Hong Kong Over the Past Decade


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  • I found the perfect seaside town for my summer trip

    I found the perfect seaside town for my summer trip

    Alan Smith Alan Smith stands with his wife and their daughter's boyfriend on the pier at Castro Urdiales. The pier can be seen stretching out behind them with fishing boats and hills seen in the background.Alan Smith

    Alan Smith with his wife and their daughter’s boyfriend on the pier at Castro Urdiales

    The gothic arches of Santa María de la Asunción crown the hill above the stone harbour where fishermen land their catches of sardines and anchovies.

    The church in Castro Urdiales, a small seaside town of about 30,000 people in northern Spain, is more than 700 years old.

    It was the perfect holiday destination for Alan Smith and his family, though he had never heard of it – until he asked ChatGPT.

    This week a report from the travel association ABTA found an increasing number of people were turning to AI to help with their holidays, from suggesting destinations to planning itineraries once there.

    Alan and his wife drove from their home in Kent to northern Spain with their caravan last month, where they met their daughter and her boyfriend.

    Alan had asked ChatGPT to recommend places in the area they could visit and requested the drives between them should not be too long.

    Castro Urdiales was one of the places suggested by the AI chatbot.

    “It was the highlight of the holiday,” Alan says, “it was buzzing, like a smaller version of San Sebastián.

    Tim Graham/Getty Images The church of Santa María de la Asunción overlooks the fishing harbour of Castro Urdiales in northern Spain. Moored fishing boats can be seen in the foreground while quayside buildings and the church can be seen in the background.Tim Graham/Getty Images

    The church of Santa María de la Asunción overlooks the fishing harbour of Castro Urdiales

    “It had all the pintxos you could want, but it’s smaller and has far fewer foreign tourists.”

    Alan is 62. According to the ABTA report, 3% of tourists his age use AI in some way to help with their holiday. The average for the whole population is 8% and use is highest among those aged 25-34, at 18%.

    After the AI chatbot made suggestions to Alan about places to visit and routes to take, he checked them on Google to make sure they were legitimate.

    He made all the bookings himself though, as he was not sure sure about ChatGPT’s ability to do this – particularly given the sums of money involved.

    Alan began using the AI-powered tool shortly after it was released in November 2022 and uses it frequently for all sorts of things, from finding information about places he’s visiting to recipes he wants to cook.

    He often turns to it instead of search engines to save time, rather than reading through several web pages such as travel blogs about good places to visit in northern Spain.

    “I’ve been stunned at the results,” Alan says. “It’s not always right though, and can – occasionally – be spectacularly wrong.”

    Alan Smith Alan Smith smiles as he sits in the driver's seat of his caravan.Alan Smith

    Alan says AI really helped when planning his family’s caravan trip to Spain

    Hannah Read, 37, tried to use an AI chatbot to plan a trip to Norway with her partner and three children.

    She wanted to drive from her home in Flintshire, north Wales and cross the North Sea by ferry.

    “I thought it might make for a nice drive,” Hannah says. “I asked ChatGPT if there was a ferry from the UK to Norway and it said there was one from Newcastle to Bergen.”

    She later checked a ferry travel website but found no such route exists.

    A travel blog detailing how Brits can reach Norway says the last time the route operated was in 2008.

    “I did feel a bit disappointed when I found out the information on ChatGPT was incorrect, as I’d got quite excited and had started planning the trip in my head,” Hannah adds.

    “My advice is don’t rely on AI 100%, it’s better to still do proper research.”

    David Harris David Harris and his family take a selfie while posing on top of the Rockefeller Center in New York. The New York skyline and its skyscrapers can be seen in the background.David Harris

    David Harris and his family on Top of the Rock at the Rockefeller Center in New York

    David Harris, 46, used AI to help plan the itinerary for his family’s first holiday in New York, but was more trusting about its recommendations.

    Unlike Alan, David knew where he wanted to go – and exactly how he was going to get there, unlike Hannah.

    But he wasn’t sure how much he could fit into a trip of just four-and-a-half days, so he turned to an AI-powered tool for help.

    David asked it to suggest attractions to see and activities to do in the time they had – and asked for them to be grouped together by location so that he and his young family could walk between each.

    “With four of us going we kind of wanted to see everything,” David says, “from Taylor Swift’s house to the Ghostbusters museum.”

    Having used ChatGPT extensively for work and knowing attractions in New York tend to stay open quite late, he didn’t feel the need to check the opening times and walking directions suggested by the AI chatbot.

    “It took a couple of prompts to refine the itinerary – as it gave me a lot of information I didn’t need to begin with – but it ended up producing a really good list of things to do.”

    David admits it hadn’t even occurred to him to ask it to suggest possible flights with cheaper prices, but says he will try that for a holiday he is planning to the Mediterranean next year.

    David Harris A list of activities in New York city suggested to David Harris by ChatGPT. They include having lunch at a traditional deli, visiting the Rockefeller Center and taking in a Broadway show.David Harris

    The first day of the itinerary suggested to David by ChatGPT

    He adds: “I think AI tools would help people so much if they understood how to use them and gave it a go.”

    They certainly have their place in holiday planning but users should understand how they work as well as check the recommendations they make, says Alistair Berry, a moderator on the UK Travel subreddit, an online forum where people can ask for advice about travel options in the UK.

    “Sometimes these chatbots provide really poor advice,” Alistair says. “We get a lot of Americans, who get relatively few vacation days, on our site and they have these AI-made itineraries.

    “ChatGPT has convinced them they can see London, Edinburgh and the Cotswolds in just four days and still have a good time. The reality is that they will probably spend most of the time looking out from inside a train.”

    He says people planning holidays with AI tools should understand their programming often makes them encouraging and affirming of the user’s demands and requests.

    “It definitely has a place in travel planning but you should fact check the suggestions it makes,” says Alistair.

    “After all, you don’t want to be caught out when you’re supposed to be having a relaxing time on holiday.”

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  • Gold prices could soar to $10,000 per ounce in just three years

    Gold prices could soar to $10,000 per ounce in just three years

    After surging nearly 50% so far this year, gold could skyrocket 150% as early as 2028 if its current pace keeps up.

    The precious metal topped $4,000 per ounce for the first time ever earlier this week, then got another jolt Friday, when President Donald Trump said he will impose an additional 100% tariff on China and limit U.S. exports of software.

    Stocks suffered their worst loss since the height of Trump’s trade war chaos in April. The dollar fell while gold jumped 1.5%, reinforcing its status as a safe haven asset as investors lose confidence in the greenback.

    In a note on Monday, market veteran Ed Yardeni, president of Yardeni Research, went over his earlier bullish calls on gold, which has repeatedly reached his forecasts ahead of schedule.

    During that time, he cited gold’s traditional role as a hedge against inflation, central banks de-dollarizing after Russia’s assets were frozen, the bursting of China’s housing bubble, as well as Trump’s trade war and his attempts to upend the world’s geopolitical order.

    “We are now aiming for $5,000 in 2026,” Yardeni added. “If it continues on its current path, it could reach $10,000 before the end of the decade.”

    Based on gold’s trajectory since late 2023, the price could reach the $10,000-per-ounce milestone sometime between mid-2028 and early 2029.

    Gold has also gotten a lift recently from the Federal Reserve’s pivot back to rate cuts last month, with policymakers shifting more attention to the stagnating labor market and away from fighting inflation, which has remained stubbornly above their 2% target amid Trump’s tariffs.

    While the Fed hasn’t signaled an aggressive easing cycle, the prospect of more rate cuts while GDP growth remains strong has added to inflation concerns.

    At the same time, soaring debt among top developed economies, including the U.S., has turned investors skittish on global currencies. That’s fueled a so-called debasement trade that bets on precious metals and bitcoin assuming governments let inflation run hotter to ease debt burdens.

    In a note on Wednesday, Capital Economics climate and commodities economist Hamad Hussain said “FOMO” is creeping into the gold trade, making it harder to objectively value the metal. He expects prices to continue rising, though the pace of gains will slow as key tailwinds weaken.

    On the bullish side, Hussain pointed to Fed rate cuts, geopolitical uncertainty, and fiscal sustainability concerns. On the other hand, he noted the recent gold rally came as the dollar was stable (until Friday) with inflation-protected bond yields higher—telltale signs of market exuberance.

    “As ever, the lack of an income stream makes it notoriously hard to value gold objectively,” he said. “On balance, we think that gold prices will probably grind higher in nominal terms over the next couple of years.”

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