The Bank of England has warned there is a growing risk of a "sudden correction" in global markets as it raised concerns about soaring valuations of leading AI tech companies. From a report: Policymakers said there were also threats of a "sharp repricing of US dollar assets" if the Federal Reserve lost credibility in the eyes of global investors. It comes as Donald Trump's continues to attack the US central bank and threaten its independence.

Continued hype and optimism about the potential for AI technology has led to a rise in valuations in recent months, with companies such as OpenAI now worth $500 billion, compared with $157 billion last October. Another firm, Anthropic, has almost trebled its valuation, going from $60 billion in March to $170 billion last month.

However, the Bank of England's financial policy committee (FPC) warned on Wednesday: "The risk of a sharp market correction has increased. "On a number of measures, equity market valuations appear stretched, particularly for technology companies focused on artificial intelligence. This ... leaves equity markets particularly exposed should expectations around the impact of AI become less optimistic." It said investors had not fully accounted for these potential risks, warning that "a sudden correction could occur" should any of them crystallise, resulting in finance drying up for households and businesses. The FPC added: "As an open economy with a global financial centre, the risk of spillovers to the UK financial system from such global shocks is material."

Salesforce says it's refusing to pay an extortion demand made by a crime syndicate that claims to have stolen roughly 1 billion records from dozens of Salesforce customers. From a report: The threat group making the demands began their campaign in May, when they made voice calls to organizations storing data on the Salesforce platform, Google-owned Mandiant said in June. The English-speaking callers would provide a pretense that necessitated the target connect an attacker-controlled app to their Salesforce portal. Amazingly -- but not surprisingly -- many of the people who received the calls complied.

[...] Earlier this month, the group created a website that named Toyota, FedEx, and 37 other Salesforce customers whose data was stolen in the campaign. In all, the number of records recovered, Scattered LAPSUS$ Hunters claimed, was "989.45m/~1B+." The site called on Salesforce to begin negotiations for a ransom amount "or all your customers [sic] data will be leaked." The site went on to say: "Nobody else will have to pay us, if you pay, Salesforce, Inc." The site said the deadline for payment was Friday.

The UK's national security is under severe threat from the climate crisis and the looming collapse of vital natural ecosystems, with food shortages and economic disaster potentially just years away, a powerful report by the UK's intelligence chiefs is due to warn. The Guardian: However, the report, which was supposed to launch on Thursday at a landmark event in London, has been delayed, and concerns have been expressed to the Guardian that it may have been blocked by number 10. The destabilising impact of the climate and nature crises on national security is one of the biggest risks facing Britain, the joint intelligence committee report is understood to say.

Already, food import supply chains are coming under pressure, with the price of some commodities increasing. This could be exacerbated in the near future, the defence experts have warned, with the UK over-dependent on imports. Other industries will also be affected by ecosystem collapse in places such as the Amazon and by the worsening impacts of extreme weather around the world. These impacts will not be encountered far off in the future as some had complacently assumed, ministers have been told, but are already being felt and will grow in significance as temperatures rise beyond 1.5C above preindustrial levels.

The hard-hitting report was to be published on Thursday at a landmark event in London. But the Guardian understands that the report, prepared by experts over many months, has been halted.

Susumu Kitagawa, Richard Robson, and Omar M. Yaghi were awarded the Nobel Prize in Chemistry on Wednesday for the development of molecular building blocks with spaces large enough that gases and other chemicals can flow through them. The New York Times: The cavities on the inside are "almost like rooms in a hotel, so that guest molecules can enter and also exit again from the same material," Heiner Linke, chair of the Nobel Committee for Chemistry, said during the announcement of the award. The laureates' discoveries, he added, pave the way for the creation of materials that can separate toxic chemicals from wastewater or harvest water molecules in a desert.

The laureates' work started with experiments by Dr. Robson in the 1980s and gradually developed over a period of about 15 years. "It takes time for science to be recognized, and it takes multiple workers in the field with different approaches," said Dorothy Phillips, president of the American Chemical Society. The three laureates will share a prize of 11 million Swedish kronor, or around $1.17 million.

An anonymous reader shares a report: In another loss for early smart home adopters, Logitech has announced that it will brick all Pop switches on October 15.

In August of 2016, Logitech launched Pop switches, which provide quick access to a range of smart home actions, including third-party gadgets. For example, people could set their Pop buttons to launch Philips Hue or Insteon lighting presets, play a playlist from their Sonos speaker, or control Lutron smart blinds. Each button could store three actions, worked by identifying smart home devices on a shared Wi-Fi network, and was controllable via a dedicated Android or iOS app. The Pop Home Switch Starter Pack launched at $100, and individual Pop Add-on Home Switches debuted at $40 each.

A company spokesperson told Ars Technica that Logitech informed customers on September 29 that their Pop switches would soon become e-waste.

An anonymous reader shares a report: Universities in the UK reassured arms companies they would monitor students' chat groups and social media accounts after firms raised concerns about campus protests, according to internal emails. One university said it would conduct "active monitoring of social media" for any evidence of plans to demonstrate against Rolls-Royce at a careers fair.

A second appeared to agree to a request from Raytheon UK, the British wing of a major US defence contractor, to "monitor university chat groups" before a campus visit. Another university responded to a defence company's "security questionnaire" seeking information about social media posts suggestive of imminent protests over the firm's alleged role in fuelling war, including in Gaza. The universities' apparent compliance with the sensitivities of arms companies before careers fairs has emerged in emails obtained by the Guardian and Liberty Investigates after freedom of information (FoI) requests.

Synology has released an update to its Disk Station Manager software that removes verified drive requirements from its 2025 model-year Plus, Value and J-series DiskStation network-attached storage devices. The change allows users to install non-validated third-party drives and create storage pools without restrictions.

The company had expanded its verified drive policy to the entire Plus line a few months earlier. Synology-branded drives carried substantial price premiums over commodity hardware. The HAT5310 enterprise SATA drive costs $299 for 8TB compared to $220 for an identically sized Seagate Exos disk. Users who installed non-verified drives in affected models faced reduced functionality and persistent warning messages in the DSM interface.

Synology said today it is collaborating with third-party drive manufacturers to accelerate testing and verification of additional storage drives. Pool and cache creation on M.2 disks still requires drives from the hardware compatibility list. Synology did not clarify whether the policy change applies to previous-generation products.

American companies have begun cutting middle management positions at rates not seen in years. Google eliminated 35% of managers overseeing teams of fewer than three in August. Fiverr announced in September it would shed managers to focus on AI. Amazon trimmed its management ranks throughout the year and cut positions at its cloud-computing division in July. Meta's Mark Zuckerberg has complained about managers managing managers since 2023.

Phrases relating to reducing management layers appeared 98 times on earnings calls of companies in the S&P global index this year, twice the frequency of all of 2022. The cuts stem partly from an uncertain economic environment and President Donald Trump's tariff regime, Economist writes. The pandemic created the conditions for the current retrenchment. Companies furloughed staff during Covid-19 and then hired rapidly to meet demand for e-commerce and digital services. They promoted employees to management positions to retain talent even when those managers supervised only one or two subordinates. Between 2019 and 2024, five of the ten fastest-growing job categories were management roles. Since November 2022, listed American companies have cut middle-management positions by around 3% on average.

A Pew Research Center survey, released today, found that TV remains the dominant screen for American children aged twelve and younger. 90% of parents reported that their child watches TV. Tablets are used by 68% of children in this age group. 61% use smartphones.

The survey of U.S. parents also documented emerging technology patterns. About one in ten parents said their child between five and twelve years old uses AI chatbots such as ChatGPT or Gemini. Roughly four in ten parents reported that their child uses voice assistants like Siri or Alexa. YouTube appeared in 85% of households. Half of parents said their child uses gaming devices. About four in ten reported desktop or laptop use. The survey found that 62% of parents said their child under two watches television. 42% of parents said they could be doing better at managing screen time for their children.

South Korea's government may have permanently lost 858TB of information after a fire at a data center in Daejeon. From a report: As reported by DCD, a battery fire at the National Information Resources Service (NIRS) data center, located in the city of Daejeon, on September 26, has caused havoc for government services in Korea. Work to restore the data center is ongoing, but officials fear data stored on the government's G-Drive may be gone for good. G-Drive, which stands for Government Drive and is not a Google product, was used by government staff to keep documents and other files. Each worker was allocated 30GB of space.

According to a report from The Chosun, the drive was one of 96 systems completely destroyed in the fire, and there is no backup. "The G-Drive couldn't have a backup system due to its large capacity," an unnamed official told The Chosun. "The remaining 95 systems have backup data in online or offline forms." While some departmers do not rely on G-Drive, those that do have been badly impacted in the aftermath of the fire. A source from the Ministry of Personnel Management said: "Employees stored all work materials on the G-Drive and used them as needed, but operations are now practically at a standstill."

Nvidia CEO Jensen Huang said Wednesday that he's surprised Advanced Micro Devices offered 10% of itself to OpenAI as part of a multibillion-dollar partnership announced earlier this week. From a report: "t's imaginative, it's unique and surprising, considering they were so excited about their next generation product," Huang said in an interview with "CNBC's Squawk Box."

"I'm surprised that they would give away 10% of the company before they even built it. And so anyhow, it's clever, I guess." OpenAI and AMD reached a deal on Monday, with OpenAI committing to purchase 6 gigawatts worth of AMD chips over multiple years, including its forthcoming MI450 series. As part of the agreement, OpenAI will receive warrants for up to 160 million AMD shares, with vesting milestones based on deployment volume and AMD's share price.

TiVo, the digital video recording pioneer, has moved on from its legacy DVR technology, focusing instead on its branded operating system software promoting third-party content searches, recommendation, including free ad-supported streaming options and more for smart televisions. From a report: "As of Oct. 1, 2025, TiVo has stopped selling Edge DVR hardware products," the company said in an AI-based message. The recording said that the company and its associates no longer manufacture DVR hardware, "and our remaining inventory is now depleted." TiVo said it remains "committed to providing support for our DVR customers and will continue to provide support for the foreseeable future." TiVo in 1999 created the first set-top device enabling users to record and skip ads within television programming.

U.S. GDP growth in the first half of 2025 was driven almost entirely by investment in data centers and information processing technology. The GDP growth would have been just 0.1% on an annualized basis without these technology-related categories, according to Harvard economist Jason Furman. Investment in information-processing equipment and software accounted for only 4% of U.S. GDP during this period but represented 92% of GDP growth.

Renaissance Macro Research estimated in August that the dollar value contributed to GDP growth by AI data-center buildout had surpassed U.S. consumer spending for the first time. Consumer spending makes up two-thirds of GDP. Tech giants including Microsoft, Google, Amazon, Meta and Nvidia poured tens of billions of dollars into building and upgrading data centers.

An anonymous reader shares a report: Changes are coming to the Play Store in spite of a concerted effort from Google to maintain the status quo. The company asked the US Supreme Court to freeze parts of the Play Store antitrust ruling while it pursued an appeal, but the high court has rejected that petition. That means the first elements of the antitrust remedies won by Epic Games will have to be implemented in mere weeks.

The app store case is one of three ongoing antitrust actions against Google, but it's the furthest along of them. Google lost the case in 2023, and in 2024, US District Judge James Donato ordered a raft of sweeping changes aimed at breaking Google's illegal monopoly on Android app distribution. In July, Google lost its initial appeal, leaving it with little time before the mandated changes must begin.

[...] The more dramatic changes are not due until July 2026, but this month will still bring major changes to Android apps. Google will have to allow developers to link to alternative methods of payment and download outside the Play Store, and it cannot force developers to use Google Play Billing within the Play Store. Google is also prohibited from setting prices for developers.

An anonymous reader shares a report: YouTube megastar Jimmy Donaldson, the creator behind the platform's biggest channel MrBeast, is worried there are "scary times" ahead for the creator economy as AI video tools make it increasingly difficult to tell what is real.

"When AI videos are just as good as normal videos, I wonder what that will do to YouTube and how it will impact the millions of creators currently making content for a living.. scary times," Donaldson said on X on Sunday. Donaldson's concerns come on the heels of OpenAI's release of a Sora social media platform able to AI generated short-form videos, including of individuals who "upload" themselves onto the app. Meta launched its similar video-generating Vibes platform last month.