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We’re at the midday point, and WPP is still the standout on the FTSE 100, with the shares now down by about 14.5%.

There are fears that jobs at WPP could be at risk under new boss Cindy Rose’s strategic review to address “unacceptable” performance at the advertising company.

Publisher last week reported jump in revenue in academic and professional arm thanks to AI licensing deal

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Authors will come to rely on artificial intelligence to help them beat writer’s block, the boss of the book publisher Bloomsbury has said.

Nigel Newton, the founder and chief executive of the publisher behind the Harry Potter series, said the technology could support almost all creative arts, although it would not fully replace prominent writers.

Ministers hope to secure a deal with the Gulf Cooperation Council that could add £1.6bn to the UK economy

Rachel Reeves will lead a delegation of senior business leaders to Saudi Arabia on Monday as she hopes to deepen the UK’s relationship with a state that has been widely criticised for human rights abuses.

She is the first UK chancellor to visit the Gulf in six years and is expected to meet senior Saudi royals, US administration representatives and global business figures.

Deal between Airbus, Leonardo and Thales is expected to create company with annual revenue of £5.6bn

Airbus, Leonardo and Thales have struck a deal to combine their space businesses to create a single European technology company that could rival Elon Musk’s SpaceX.

The deal is expected to create a company with annual revenue of about €6.5bn (£5.6bn). The French aerospace company Airbus will own 35% of the new business, with Leonardo and Thales each owning stakes of 32.5%.