FT News Briefing

Bank of Japan ditches negative rates

Mar 20, 2024

10:54

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Topics discussed include Microsoft hiring the co-founder of Google's DeepMind, Bank of Japan raising interest rates for the first time since 2007, European and UK AI start-ups potentially moving headquarters to other nations, and rival countries poaching UK and European AI start-ups.

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Episode notes

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Quick takeaways

Microsoft hires DeepMind co-founder to lead consumer AI unit, demonstrating commitment to AI advancement.

Bank of Japan ends negative rates after a decade, reflecting confidence in inflation target but faces challenges with weak wage growth.

Deep dives

Microsoft's Strategic Move in AI with the Hiring of Mustafa Suleiman

Microsoft's recent hiring of Mustafa Suleiman, the co-founder of Google's DeepMind, signifies a significant strategic move in the AI landscape. Suleiman will spearhead a new consumer AI division integrating products like Bing and Co-Pilot, showcasing Microsoft's commitment to capitalizing on the AI boom. Despite antitrust scrutiny, Microsoft's investment in open AI has positioned them as a frontrunner in the race towards AI dominance.

Introduction

6min

Bank of Japan's Policy Shift, Unilever's Ice Cream Business, and AI Startups' Relocation

1min

Attracting AI Startups with Incentives and Innovation

2min

European Companies Confronted with Offers to Move Out Due to Regulations

3min

Microsoft has hired the co-founder of Google’s DeepMind, the Bank of Japan raised interest rates for the first time since 2007, and leading European and UK artificial intelligence start-ups have been lobbied to move their headquarters to rival nations.

Mentioned in this podcast:

Microsoft hires DeepMind co-founder Mustafa Suleyman to run new consumer AI unit

Bank of Japan ends era of negative interest rates

Unilever to split off ice cream business and cut 7,500 jobs

Rival nations seek to poach top UK and European AI start-ups

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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