Here are 5 important happenings on Thursday (23 April):
AI is flattening the jobs market for young people, says Sunak
Artificial intelligence (AI) is flattening the jobs market for young people and governments should eliminate National Insurance to make hiring workers more attractive, former prime minister Rishi Sunak has told the BBC. Sunak, now an adviser to AI firm Anthropic and Microsoft, said while he is an enthusiast for the transformative impact of AI, he said concerns from graduates looking for entry-level jobs were justified. He said company bosses were privately acknowledging to him that recruitment of young people is flattening because of the technology. “There are reasons to be worried and think about the future. But we are able to do something about this,” he said. [BBC]
Divisions emerge in Keir Starmer’s cabinet
Keir Starmer is looking increasingly isolated over his handling of the Peter Mandelson scandal with divisions emerging in cabinet over his decision to sack the Foreign Office civil servant Olly Robbins. On another difficult day for the prime minister, the Guardian learned of concerns around the cabinet table, a senior minister refused to say the dismissal was fair and several mandarins called for him to be reinstated. One Labour MP called on Starmer to quit. [Guardian]
London house prices sink again as wealthiest areas hit
House prices in London have fallen for the seventh consecutive month, as the capital’s luxury hot spots saw huge slumps in value. House prices dropped more than 12 per cent in Westminster – which includes in-demand areas like Mayfair and Knightsbridge – and 11 per cent in Kensington and Chelsea. The average house price in the capital tumbled 3.3 per cent to £542,000 in the year to February, compared to a year-on-year drop of 1.9 per cent in the previous month, according to the Office of National Statistics (ONS). [CityAM]
UK to pay France £650 million to curb channel crossings
Negotiations to secure a new £650 million agreement with France to help prevent small-boat crossings in the Channel have hit a standstill. British and French officials were continuing talks on Monday to reach an agreement before the current £475 million deal, which was signed in 2023, expires at midnight on Tuesday. According to sources involved in the negotiations, discussions stalled over how a funding package of around £650m will be released from the UK to France over the course of the next three years. [The Independent]
Financial news
On Thursday, Oil was trading higher at $103.03. The pound is trading at $1.35, €1.15, and ¥9.21.
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