SoftBank/OpenAI: next bet on AI unlikely to be more successful than the last
Chief’s key portfolio returns have been heavily reliant on consumer internet companies, not artificial intelligence
Artificial intelligence
Pendragon to sell UK car dealerships to US group Lithia in £280mn deal
Automotive retailer to focus on software following sale of showrooms
Mergers & Acquisitions
Crypto tumult spurs rethink on best uses for blockchain
Tokenisation to create new markets, and decentralised ledgers to boost security, offer opportunities for growth
Fintech
Brazil counts success with Pix payments tool
State-backed instant transfer service is credited with helping to widen financial inclusion
Fintech
Rival banks unite to take on Big Tech
Traditional lenders react to mobile wallet gains made by Apple and Google as tech groups push harder into financial services
Fintech
India points the way to digital access across Africa
Bill Gates is among the supporters who say DPI is key to reducing poverty but critics warn civil liberties could be at risk
Fintech
NatWest to examine Irish unit over small business loans
UK bank tells regulator of ‘remediation’ plans to explore Ulster Bank customers’ allegations
Financial & markets regulation
Kering bets on Gucci shake-up to revive fortunes
French luxury group hopes beauty push and refresh of biggest brand will help it catch up with rivals LVMH and Hermès
Luxury goods
Bank of England refines its new competitiveness mandate
Staffers provide clues on how the central bank is interpreting the goals set by UK government
Financial & markets regulation
The stakes of the US autoworker strike could not be higher
If Joe Biden can’t bridge the gap between management and labour, Donald Trump could be the winner
Electric vehicles