DeepMind founder Demis Hassabis reveals his darkest moment

  • 6 November 2018
  • From the section Business
Demis Hassabis Image copyright Getty Images

He is the child from North London who built a multi-million technology company, sold it to Google and is now widely regarded as one of the world's leading experts in artificial intelligence.

Demis Hassabis, the founder and chief executive of the London-based technology giant, DeepMind, has revealed that he almost failed in one of his first business ventures and was fortunate to avoid driving the gaming firm he started "into the wall at 100mph".

He said he endured "some really dark hours" - as had the teams working with him.

Mr Hassabis said much of his success was down to luck and also to being able to spot when he was becoming "self-delusional" about whether an idea was going to work.

In an interview for a new BBC podcast, The Disrupters, looking at the role of entrepreneurs in the economy and society, Mr Hassabis said that failure and being able to learn from it was an essential part of ultimately being successful.

Read full article DeepMind founder Demis Hassabis reveals his darkest moment

Budget 2018: 'Squeeze continues' for lower-income families

  • 30 October 2018
  • From the section Business
Savings Image copyright Getty Images

The era of austerity is not over for working families on benefits or government departments like transport, according to one of the first independent analyses of the Budget.

The Resolution Foundation said Philip Hammond had delivered £55bn in tax cuts and increases in public spending.

Read full article Budget 2018: 'Squeeze continues' for lower-income families

Budget 2018: Big spender Hammond

  • 29 October 2018
  • From the section Business
Philip Hammond Image copyright AFP

There was one big challenge for the chancellor today - map out a plan for "ending austerity" as demanded by the prime minister.

Ending rather than ended is probably the most accurate analysis - with plans for many billions of pounds of extra spending.

Read full article Budget 2018: Big spender Hammond

Five things to watch for in the Budget

  • 29 October 2018
  • From the section Business
Philip Hammond Image copyright Getty Images

Today is Budget day and certainly a tricky one for the Chancellor.

He has a number of competing challenges.

Read full article Five things to watch for in the Budget

Labour's John McDonnell pledges more than £49bn to end austerity

  • 25 October 2018
  • From the section Business
John McDonnell Image copyright PA

Labour is planning to go further than its manifesto pledge last year of £49bn of extra spending to end austerity.

Shadow chancellor John McDonnell told the BBC that although the 2017 general election promise would go "quite a significant way" to tackling a long period of cuts, he wanted to do more.

Read full article Labour's John McDonnell pledges more than £49bn to end austerity

UK 'will pay the price' of no-deal Brexit

  • 24 October 2018
  • From the section Business
Operation Stack Image copyright PA
Image caption Queues of lorries left residents near the Port of Dover unable to get out to buy basic supplies in 2015

Britain will "pay the price" of a no-deal Brexit because complicated new border controls may not be ready in time, a government watchdog has warned.

Thousands of UK exporters did not have enough time to prepare for new border rules, the National Audit Office said.

Read full article UK 'will pay the price' of no-deal Brexit

Hammond’s £19bn bill to 'end austerity'

  • 16 October 2018
  • From the section Business
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Media captionPaul Johnson, director of the IFS, says government can't end austerity without tax rises

The government will have to find an extra £19bn a year if it is to uphold Theresa May's promise that "austerity is over", a major report has said.

In its pre-Budget report, the Institute for Fiscal Studies says it means higher borrowing and higher taxes.

Read full article Hammond’s £19bn bill to 'end austerity'

Jamal Khashoggi disappearance: UN chief demands 'truth'

  • 13 October 2018
  • From the section Europe
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Media captionCCTV footage shows missing Saudi journalist Jamal Khashoggi entering the Saudi consulate in Istanbul.

The head of the United Nations has demanded "the truth" over the disappearance of the Saudi journalist Jamal Khashoggi.

Secretary General Antonio Guterres told the BBC he feared such disappearances would happen more regularly and become a "new normal".

Read full article Jamal Khashoggi disappearance: UN chief demands 'truth'

Hammond: Any Budget tax rises 'will be absolute minimum'

  • 12 October 2018
  • From the section Business
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Media captionI will maintain fiscal firepower, says Mr Hammond

The chancellor has opened the door to tax rises in the Budget, saying the government "may have to raise a little more tax" to pay for the NHS.

Philip Hammond told the BBC he wanted to "minimise" any impact on the economy if taxes had to rise to cover the £20bn spending boost pledged for the NHS.

Read full article Hammond: Any Budget tax rises 'will be absolute minimum'

Hammond says 'Brexit deal dividend' would deliver economic boost

  • 12 October 2018
  • From the section Business
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Media captionPhilip Hammond says he believes a Brexit deal would lead to higher economic growth

Britain could see an economic boost if it successfully negotiates a Brexit deal with the European Union, the chancellor has said.

Philip Hammond told the BBC that there has been a "measurable change of pace" in talks, adding to the sense of optimism that a deal could be imminent.

Read full article Hammond says 'Brexit deal dividend' would deliver economic boost