UK business confidence hits two-year low amid tax hikes and US trade tensions
UK business confidence has dropped to its lowest point in over two years, driven by tax concerns and fears of Donald Trump’s escalating trade war, according to the ICAEW. Its Q1 confidence index fell to -3, down from 0.2, as rising costs and declining sales expectations added pressure. Over half of surveyed firms cited tax increases—like April’s employer National Insurance hike—as a major challenge.
While February saw unexpected GDP growth, forward indicators suggest worsening conditions ahead. With inflation still above target, markets expect a Bank of England rate cut at its May 8 meeting to support the faltering economy.
Nvidia commits $500bn to US AI infrastructure amid tariff threats
Nvidia has announced plans to invest up to $500bn in US-based AI infrastructure over the next four years, responding to growing semiconductor tariff threats under Donald Trump. The move follows CEO Jensen Huang’s dinner at Mar-a-Lago. It comes as Nvidia begins domestic production of its AI chips, including at TSMC’s Arizona plant and upcoming facilities in Houston and Dallas.
The company aims to strengthen its supply chain and meet rising AI demand. While Nvidia’s market value has surged over 1,000% since 2020, tariff uncertainty has triggered a recent 20% stock dip and broader market volatility.
AI use grows in HR, but formal adoption still lags
According to Brightmine, nearly two-thirds of HR professionals now use AI in daily tasks, yet only 3.6% have formally integrated it into their processes. Time constraints, limited skills, and missing policies are major barriers. While 60% cite lack of time and knowledge as obstacles, only 32% of organisations have formal AI guidelines, falling to 40% among smaller firms.
Larger employers are more likely to experiment, with nearly 68% of HR teams exploring AI and 96% valuing time-saving benefits. Experts warn that inconsistent use could lead to poor decisions and missed opportunities without training and strategy.