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UK Edition
27th May 2026
 
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THE HOT STORY

BP axes chair over governance, oversight and conduct concerns

BP has removed chair Albert Manifold with immediate effect. The oil firm was reportedly concerned over allegations of "bullying" and "overbearing" behaviour. In a statement, the firm cited "serious concerns" related to "important governance standards, oversight and conduct." Senior independent director Amanda Blanc said BP's board had been "surprised and disappointed" to learn of "issues it deems unacceptable," adding that the firm "has taken decisive action." Senior independent director Ian Tyler has been appointed interim chair. Manifold, who joined BP in September 2025 as a non-executive director, was appointed chair the following month.
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TECHNOLOGY

AI unlikely to lead to 'jobs apocalypse', Altman says

Speaking virtually at a Commonwealth Bank of Australia (CBA) conference in Sydney, OpenAI CEO Sam Altman said he was initially concerned about the impact AI would have on global employment ​levels, but believed the rapid development ‌and adoption of the technology would not lead to a global "jobs apocalypse." Altman said his executive team had been "roughly right" on the technological predictions made by OpenAI when it launched ​ChatGPT in 2022, but were "pretty wrong" on the social and economic implications. "I'm delighted to ⁠be wrong about this, I thought there would have been more impact on entry-level white-collar jobs being eliminated by now than ​has actually happened," Altman said, adding that he didn't think the human interaction required in ⁠many jobs ​would be replaced by AI. "I don't think we're going to have the kind ​of jobs apocalypse that some of the companies in our space advocate or talk about."

UK firms to boost AI investment

More than half of UK businesses plan to increase investment in AI over the next year, according to a Barclays survey of 900,000 firms. The report indicates that 68% of companies will invest in cybersecurity, while 54% expect overall investment to grow. Six in ten firms are already using AI agents, enhancing productivity by allowing employees to focus on higher-value tasks. However, it was also found that a fifth of companies may pause investment due to the conflict in the Middle East.

Law firm reprimanded by court over AI error

A High Court judge has criticised law firm Pinsent Masons for misleading the court with submissions generated by AI. Judge Mark Mullen noted that a junior lawyer from the firm relied heavily on the technology, producing references based on "hallucinated" information. He also reprimanded two senior lawyers for inadequate supervision. Mullen said that AI can be "wholly unreliable" and should be used cautiously. Pinsent Masons has referred itself to the Solicitors Regulation Authority and has apologised to the court, noting that it is enhancing its oversight processes to prevent future issues.
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WORKFORCE

Young people face 'perverse disincentives'

Former Health Secretary Alan Milburn, speaking ahead of the launch of his interim report into youth unemployment and inactivity, tells the i that urgent action is needed to remove "perverse disincentives" from the welfare system that seem "designed to discourage people from going into work." There is, he says, "an argument - a myth - that young people are lazy, that they're inventing their mental health problems, that they're a 'snowflake generation' - and nothing could be further from the truth." He observes that government work coaches "are managing caseloads of 100 unemployed people, meaning they can't offer proper tailored support to young people in appointments that last 10 minutes."
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TRAINING & DEVELOPMENT

University of Manchester to promise work placements to all undergraduates

The University of Manchester has announced that it will ensure that all undergraduate students have access to some form of work experience before they graduate - either an internship, a placement, a joint project, or an exchange. Vice-chancellor Duncan Ivison said it "doesn't matter if you're a history student or a chemical engineer," and that every student should "have a chance to put their learning into context." Nick Hillman, director of the Higher Education Policy Institute, said the scale of the pledge will be challenging given the university's 32,000 undergraduates, but said it is "a brilliant initiative in the sense that it seeks to tackle the widespread fear that older universities provide an overly academic education" and "recognises the fact that the main reason people attend higher education is to find a fulfilling career afterwards."
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ECONOMY

UK shop price inflation accelerates as retailers urge government support

UK shop price inflation rose to 1.2% in May from 1% in April, according to the British Retail Consortium (BRC), as disruption linked to the Iran war and higher energy costs pushed up prices across the retail sector. Furniture, health and beauty products recorded some of the sharpest increases due to rising raw material and shipping costs, while food price inflation eased to 2.7%, its lowest level in a year. The BRC called on the government to help reduce pressure on retailers by cutting energy-related charges, taxes and regulatory burdens, after ministers reportedly considered supermarket price caps earlier this month. The figures come as broader UK inflation is expected to climb towards 4% in the coming months amid the ongoing energy price shock.
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TAX

Treaty aims to boost nations’ rights to tax tech giants

Bloomberg reports that countries at the United Nations are rewriting international tax rules to tax technology giants based on where their users are located rather than where they are headquartered. A draft tax proposal seen by Bloomberg could significantly increase how much tax companies pay, and where. The draft contains some protections to ensure jurisdictions where companies are headquartered continue to receive some revenue, and it proposes a cap on the share a source country can tax, and has safeguards to ensure companies are not double taxed.
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INTERNATIONAL

China's new rules protect older workers

China has introduced its first regulations to protect the rights of workers beyond the statutory retirement age. The "Interim Provisions on the Protection of the Basic Rights and Interests of Over-Age Workers" will take effect on July 1. Issued by the Ministry of Human Resources and Social Security, the rules mandate that employers pay over-age workers their full remuneration on time, ensuring wages meet local minimum standards. Employers must also adhere to working hour limits and provide appropriate training and insurance coverage. The regulations followed a public consultation that concluded in August last year.

Russia warns foreigners to leave Kyiv

Russia has announced plans to intensify its strikes on Kyiv, targeting what it described as Ukraine's "decision-making centres." The warning followed a weekend attack that killed four people and injured many others. Russia's foreign ministry has called on foreign diplomats and civilians to evacuate the city. However, Western diplomatic missions, including those from France and the EU, have rejected the evacuation calls, and Ukrainian officials have labelled Russia's threats as mere "rhetoric." Ukrainian Foreign Minister Andriy Sybiga urged partners not to succumb to Russian intimidation.

Korea's new language initiative for foreign workers

Korea is launching a public-private partnership to enhance Korean language skills for foreign factory workers. The Ministry of Culture, Sports and Tourism has announced a memorandum with Hyundai Motor Group and other organisations to create tailored language education programmes. With over 1.1m foreign workers in Korea, calls have intensified for stronger language education in workplaces where misunderstandings involving instructions and safety rules have become a recurring concern. Pilot programmes will start this year at 20 Hyundai partner companies, with plans to expand to 130 firms by 2028.
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OTHER

Pope urges AI regulation

Pope Leo XIV has issued an encyclical titled "Magnifica Humanitas," which addresses the need for regulation of artificial intelligence to ensure it serves humanity rather than profit. He criticises the "culture of power" driving AI advancements, particularly in warfare, saying: "It is not permissible to entrust irreversible, lethal decisions to AI systems." The pope called for robust legal frameworks and independent oversight to protect vulnerable populations, urging developers to prioritise ethical considerations. Taylor Black, a Microsoft AI executive and director of Catholic University of America's AI institute, said the document would prompt people “at the forefront of these tools” to ask questions such as “What does it mean to be human?”
 
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