Tim Davie resigned as BBC DG amid a row over a Trump documentary and allegations of bias and reporting failures. News chief Deborah Turness also quit. The board has launched reviews of editorial controls as the broadcaster seeks to restore trust and stability.

Big tech shares linked to AI shed about $1.2tn as investors questioned lofty valuations amid signs of a US slowdown. The Nasdaq fell 4.6%, putting Wall St on course for its worst week since April. Declines were led by Nvidia, Microsoft and Apple, with sentiment turning against richly priced growth stocks.

The BoE kept Bank Rate at 4% after a narrow MPC split, citing easing inflation but sticky services costs. It hinted a cut as soon as next month if data allow, aiming to support a weak economy while keeping price growth on track to target. Markets priced in earlier easing.

Nvidia’s Jensen Huang says China is poised to overtake the US in AI, citing cheaper energy, quicker permitting and looser rules. He warns western cynicism and high power costs are slowing data centre expansion, urging major investment in computing to stay competitive.