G oogle's AI company has racked up debts of more than £1bn as it fights for preeminence in artificial intelligence research and development. DeepMind's spending has risen as parent company Alphabet, which also owns Google, hires top academics, researchers and engineers in an effort to beat out its competitors. Its annual accounts from Companies House show losses of more than £470m in 2018, up from £302m the year before, and its expenses rose from £334m to £568m. Of the £1.03bn due for repayment this year, £883m is owed to parent company Alphabet. DeepMind's accounts said it had "written assurance" from Google that it would be supported for at least another year and helped to pay its debts. In 2018, staff costs almost doubled to £398m. Its 2018 hires included high-flying former City of London bankers and developers and Silicon Valley veterans. It has previously been criticised for offering Oxford and Cambridge academics vast amounts of money to tempt them away from academia … [Read more...] about DeepMind losses mount as Google spends heavily to win AI arms race
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Top trainers reveal their best chances of a winner at the 2021 Cheltenham Festival
Top trainers David Pipe and Kim Bailey have revealed their best chances of a winner at the 2021 Cheltenham Festival. The pair gave updates on their runners at a virtual press conference to discuss the handicap weights at the four-day meeting, which takes place from March 16-19. Nicholashayne handler Pipe has nominated Adagio as his leading hope for the week. A 12-1 shot with Paddy Power for the Grade 1 JCB Triumph Hurdle on March 19, the four-year-old already has a success at the highest level to his name. “My best chance is probably in the toughest race with Adagio," said Pipe, who has had 14 winners at the high class fixture. “It looks an ultra-competitive Triumph Hurdle, but our fella hasn’t done a lot wrong and he’s improving with every run. "After his last run he did have a bit of colic, which meant he missed a week, but he’s had a good preparation since. He’s in great form, but it does look a red hot Triumph this year. “Obviously it’s always a concern at the time, … [Read more...] about Top trainers reveal their best chances of a winner at the 2021 Cheltenham Festival
Heathrow Airport to charge travellers extra £9 passenger levy to due Covid costs
HEATHROW Airport passengers will now be charged an extra £8.90 to fly from the airport as part of a "pandemic tax". The fees will be enforced from April to cover costs lost during the pandemic. The new charge will be charged by airlines who claim the fee is due to costs being increased from the airport including baggage, handling and other costs. This means a family of four face an extra £35.60 on top of their flights due to the new tax. The airport said no profit was being made as it was only to cover the additional operating costs, and may only run until the end of the year. While other airports including London Gatwick, Stansted and Manchester has said they won't be following suit, experts have warned it may set a trend. Deputy chairman of the Association of Independent Tour Operators (AITO) John Tangney said: "If Heathrow gets away with it, most other airports worldwide are likely to copy this highly unwelcome initiative." Heathrow Airport has lost more than … [Read more...] about Heathrow Airport to charge travellers extra £9 passenger levy to due Covid costs
Germany to implement supply chain law against exploitation
Germany on Wednesday took a step towards forcing companies to take responsibility for any labor or environmental abuses in their global supply chain. A new law (Lieferkettengesetz in German) allows for hefty fines starting at several hundred thousand euros if their contractors abroad are found to breach human rights or environmental rules. The fines go up to two percent of the company's annual revenues if they exceed 400 million euros ($484 million). The companies are held responsible for every step of the way: from the raw materials to the finished product. "This law protects workers from exploitation across sprawling supply chains and protects human rights across the world," Finance Minister Olaf Scholz said on Wednesday, adding "In future, it will be clear that 'Made in Germany' also means respect for human rights." The SPD-run development and labor ministries initially wanted the law to also target smaller companies, but backed down in the face of strong opposition from the … [Read more...] about Germany to implement supply chain law against exploitation
COVID-19: Donald Trump Jr self-isolating after testing positive for coronavirus
Donald Trump Jr, the president's eldest child, has tested positive for coronavirus. A spokesman said: "He's been completely asymptomatic so far and is following all medically recommended COVID-19 guidelines." The 42-year-old is the latest member of the president's family to become infected with a virus that has killed more than 250,000 Americans and infected nearly 12 million others. President-elect Joe Biden made the president's response to the virus a top issue in the recently concluded race for the White House, though Mr Trump has yet to acknowledge the outcome. President Trump, first lady Melania Trump and their son Barron have all recovered from their coronavirus infections in October. Advertisement The president spent three days in a military hospital where he was treated with experimental drugs; the first lady weathered her illness at the White House. Donald Trump Jr's girlfriend, Kimberly Guilfoyle, tested positive for the coronavirus in … [Read more...] about COVID-19: Donald Trump Jr self-isolating after testing positive for coronavirus