Trump said the United States could “put a big tariff on the UK” if London maintains the tax, which was introduced in 2020 and applies a 2% levy on revenues generated by large digital companies operating in Britain.

The measure affects major U.S.-based firms including Apple, Alphabet’s Google and Meta.“I don’t like it when they target American companies, because basically, you’re talking about our great American companies,” Trump told The Telegraph, adding that Washington could respond swiftly through trade measures.

“If they don’t drop the tax, we’ll probably put a big tariff on the UK.”The digital services tax has been a longstanding point of friction between Washington and London, drawing criticism not only from Trump but also from his predecessor, Democrat Joe Biden, who similarly argued that such levies disproportionately impact U.S. technology giants.

The dispute underscores broader transatlantic disagreements over how to tax multinational digital corporations, particularly those with significant cross-border revenues but limited physical presence in foreign markets.

Britain has defended the tax as a temporary measure aimed at ensuring fair contributions from large tech firms operating within its jurisdiction.

Trump’s remarks come ahead of a scheduled visit by Britain’s King Charles to the United States next week, adding a diplomatic dimension to the trade tensions at a time when both countries have sought to maintain close economic ties.

A surge in investment linked to artificial intelligence is reshaping Britain’s real estate market, as demand for data centre infrastructure drives up land values, strains electricity networks and fuels speculative development activity.

Across the United Kingdom, industrial landowners, property developers and investors are repositioning sites to attract technology firms seeking locations for large-scale data centres.

The shift is being driven by anticipated spending from major technology companies including Google, Microsoft and Nvidia, which have pledged billions of dollars toward digital infrastructure.At the centre of this transformation is the Wilton International site in northeast England, where disused land once tied to the declining chemical industry is being repurposed for potential AI data centre development.

The site benefits from existing energy infrastructure, including grid connections and on-site power generation, making it an example of what industry participants describe as “powered land.”Owned primarily by Sembcorp UK, a subsidiary of Sembcorp Industries, the Wilton site is being marketed in partnership with developer Digital Reef to attract a hyperscale tenant.

Such tenants—large cloud computing providers including Amazon, Apple, Meta and Microsoft require significant and reliable power supplies to support AI workloads.Industry participants say the defining requirement for AI data centres is access to electricity rather than proximity to financial hubs, allowing development to shift away from high-cost urban centres such as London toward less expensive industrial or rural areas.

According to construction analytics firm Barbour ABI, plans for 119 data centres have been submitted across Britain, spanning locations from former industrial facilities to repurposed commercial sites. This surge has led to a sharp increase in applications for electricity grid connections.

Data from Britain’s energy authorities show that demand for grid connections rose by 460% in the first half of 2025. Applications to connect to the high-voltage network reached 96 gigawatts, with an additional 29 gigawatts requested for local networks. For comparison, the country’s total electricity generation capacity is estimated at around 72 gigawatts.

The National Energy System Operator reported that approximately 140 data centre projects are currently in the connection queue, representing around 50 gigawatts of demand. The volume of applications has extended waiting times for grid access to between 12 and 15 years, creating a bottleneck that industry participants say is delaying viable projects.

The backlog has also been exacerbated by speculative applications. Some landowners have sought grid connections without confirmed planning approval or end users, leading to the emergence of so-called “zombie projects” that occupy capacity in the queue without clear development prospects.

In response, the operator has proposed reforms to prioritise projects deemed strategically important, including data centres, and to filter out speculative demand. A similar approach applied to renewable energy projects previously reduced connection requests by half.The scarcity of grid access has significantly altered land valuations.

According to Savills, industrial land in London typically sells for between 4.5 million and 6 million pounds per acre. Sites suitable for data centres can command between 8 million and 15 million pounds per acre, reflecting the premium attached to reliable power supply.

Comparable trends are evident in the United States, where real estate adviser Colliers reports that powered land can sell for more than twice the value of standard industrial land, with even higher multiples in established data centre markets such as northern Virginia and northern California.

Developers are increasingly adopting unconventional approaches to secure power access. In one case, a project acquired by Equinix obtained a grid connection by partnering with a battery storage developer and converting its allocation to suit data centre requirements.

Equinix plans to invest approximately 3.9 billion pounds in the development, with construction expected to begin in 2027 and operations targeted for 2031.However, securing a connection does not guarantee timely access to power.

Industry executives report instances where connection timelines have been delayed by more than a decade, forcing developers to explore alternative energy solutions to maintain project viability.Despite the surge in proposals, Britain lags behind other markets in actual project delivery.

Data compiled by DC Byte indicates that only 7% of tracked UK data centre projects are under construction or completed, compared with 46% in Germany, 40% in France and 24% in the United States.High industrial electricity costs and regulatory challenges have further complicated development. OpenAI recently paused plans for a large data centre in northeastern England, citing concerns over energy pricing and regulatory conditions.

Nonetheless, industry stakeholders maintain that underlying demand for AI infrastructure remains strong. At the Wilton site, existing grid capacity of 240 megawatts, combined with on-site generation from gas, biomass and waste-to-energy facilities, provides a foundation for expansion. Plans include integrating renewable energy sources such as solar and wind, with the potential to scale capacity to one gigawatt.

Developers estimate that achieving this scale could require investment of approximately 15 billion pounds over the next decade. Discussions with potential tenants are ongoing, with project backers expressing confidence in long-term demand driven by the adoption of AI technologies.The expansion of data centre infrastructure is increasingly viewed by policymakers and industry as central to economic modernisation strategies.

However, the pace of development will depend on resolving constraints in energy supply, planning approvals and infrastructure capacity, which continue to shape the trajectory of Britain’s AI-driven real estate market.

A month-long trial of Meta’s smartglasses has highlighted concerns over privacy, usability and real-world application, as the wearable technology continues to draw mixed reactions from users and experts despite growing global sales.

The device, developed by Meta in collaboration with Ray-Ban, integrates a camera and an artificial intelligence assistant capable of responding to voice commands.

The assistant can provide directions, identify objects and read messages aloud, with users able to select from a range of celebrity-inspired voices, including one modeled on Judi Dench.

The company’s chief executive, Mark Zuckerberg, has said smartglasses could become a primary computing interface over the next decade, potentially replacing some smartphone functions such as taking photos, making calls and navigating.

Meta reported global sales of more than 7 million units in 2025.In practice, however, the experience of using the glasses appears uneven. Voice commands are not always accurately processed, and responses from the assistant can be incomplete or delayed.

Users often find themselves verifying outputs on their phones, undermining the intended hands-free functionality.The device’s visual recognition capabilities are also limited.

While it can identify basic objects and settings, it struggles with more complex queries. In one instance, it provided a generic description of an artwork at Tate Modern without offering meaningful context or interpretation. Similarly, attempts to identify specific items such as clothing accessories or provide product-related information were unsuccessful.

Real-time translation, another promoted feature, has also shown inconsistencies. During conversational tests, translations appeared with a delay and lacked clarity, resulting in less effective communication compared with established tools such as smartphone-based translation applications.

Public reaction to the glasses has been cautious. Users report that the most common question from others is whether they are being recorded. The presence of a built-in camera, even with a small LED indicator designed to signal recording, has contributed to discomfort among bystanders.

The indicator can be difficult to notice, particularly in well-lit environments, raising concerns about transparency.The device has gained traction among content creators, who use it to capture first-person footage.

However, it has also been associated with controversial use cases, including recording individuals in public without their knowledge. This perception has contributed to the emergence of the nickname “pervert glasses” in online discourse.Industry experts say the technology lacks clearly defined everyday applications.

Iain Rice, a professor of industrial artificial intelligence at Birmingham City University, said smartglasses may eventually find niche uses but currently do not offer compelling reasons for widespread adoption. He noted that previous attempts at similar technology, such as early smartglasses, faced limited uptake due to similar concerns.

Rice also questioned whether consumer demand aligns with the product’s design. While Meta has focused on aesthetics to make the glasses more appealing, he said it remains unclear whether users are willing to adopt wearable devices that are not essential to daily life.

The development of smartglasses comes as Meta continues to invest in emerging technologies, including its previously emphasized metaverse strategy. The company has reportedly scaled back some aspects of that initiative after significant financial investment, reflecting broader challenges in identifying sustainable use cases for new digital platforms.

Privacy remains a central issue in the adoption of wearable recording devices. While there are currently no specific laws in the United Kingdom prohibiting recording in public spaces, the introduction of discreet, always-available cameras raises questions about consent and personal boundaries.

Some users argue that the ability to record interactions enhances personal safety, while others view it as intrusive.Meta has stated that users are responsible for complying with legal and ethical standards when using the device.

A company spokesperson said the terms of service require users to operate the glasses “in a safe, respectful manner” and not engage in activities that infringe on privacy or constitute harassment.The experience of extended use suggests that familiarity with the device can reduce initial hesitation, potentially increasing reliance on its features.

However, this adaptation may also normalize behaviors that raise ethical concerns, particularly in relation to recording others without explicit awareness.

As smartglasses continue to evolve, their adoption is likely to depend on improvements in functionality, clearer use cases and regulatory frameworks addressing privacy and data use.

For now, the technology remains at an early stage, with its long-term role in consumer electronics still uncertain.

The S&P 500 has surged nearly 90% since its October 2022 cycle low, signaling the strength and adaptability of the U.S. economy amid changing monetary conditions and global uncertainty.

Far from showing signs of fatigue, experts believe this bull market still has significant room to run — a reflection of both market optimism and sustained innovation in key sectors like technology and communications.

The New York financial district, home to the iconic Charging Bull statue, has once again become a symbol of renewed market confidence. Since the benchmark S&P 500 index began its rally in October 2022 — following a period of monetary tightening by the Federal Reserve — investors have witnessed a remarkable recovery led by major corporations and technological breakthroughs.

The bull market’s strength is being fueled by strong earnings, easing inflation, and rising interest in emerging innovations such as artificial intelligence (AI), cloud computing, and advanced manufacturing.

According to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, the current rally’s gains, while impressive, are still well below the historical average rise of over 170% observed in previous bull markets dating back to 1932.

On average, those markets lasted around five years — suggesting that the current one, now three years old, may have plenty of growth potential left. “This isn’t an old bull,” noted Ryan Detrick, chief market strategist at Carson Group. “History tells us that once markets reach this point, they often continue to expand for years.”

At the heart of this bull market’s strength lies the booming technology sector, which has been the primary driver of gains. Companies like Nvidia, Microsoft, Apple, and Alphabet have soared thanks to rising demand for AI and digital infrastructure.

The information technology and communication services sectors have each gained more than 150% over the past three years, powered by investor enthusiasm for the so-called “Magnificent Seven” — the group of mega-cap stocks including Apple, Amazon, Tesla, Meta, Microsoft, Alphabet, and Nvidia.

Economic resilience has also played a crucial role in sustaining investor confidence. Analysts such as Jeffrey Buchbinder, chief equity strategist at LPL Financial, point out that as long as the economy continues to grow, the bull market has a strong foundation.

“If a recession doesn’t end a bull market, it often continues for five years or more,” he said. Recent improvements in labor market stability, moderate inflation levels, and the Federal Reserve’s shift toward interest rate cuts have all contributed to a more favorable investment environment.

The U.S. Federal Reserve’s decision to move away from aggressive rate hikes and instead focus on supporting steady economic growth has reassured investors. As Angelo Kourkafas, senior global investment strategist at Edward Jones, put it, “Bull markets don’t die of old age — it’s usually the Fed that ends them. But this time, the Fed is creating conditions for long-term expansion.”

Historically, the third year of a bull market can be mixed, but this one has been exceptional. Since October 2024, the S&P 500 has climbed more than 15%, making it the strongest third-year performance of any bull market since 1957.

Keith Lerner, chief investment officer at Truist Advisory Services, highlighted that while strong third-year returns can sometimes temper gains in the fourth year, the overall trajectory remains promising.

What sets this bull market apart is the combination of robust corporate performance and widespread investor optimism. Companies are investing in next-generation technologies, expanding into green energy, and innovating in sectors ranging from healthcare to entertainment. Meanwhile, global investors have been drawn to U.S. equities for their stability and long-term growth potential, keeping Wall Street vibrant and forward-looking.

As the bull market nears its three-year milestone, the atmosphere in New York’s financial district is one of pride and anticipation. The Charging Bull — long a symbol of optimism and progress — once again reflects the enduring confidence of investors who believe in the power of innovation and perseverance.

With inflation easing, interest rates stabilizing, and technological breakthroughs reshaping industries, analysts agree that the foundations of this bull market remain strong.

History may suggest that bull markets eventually mature, but for now, Wall Street’s upward charge shows no sign of slowing down — a testament to the enduring spirit of growth, innovation, and resilience that defines the U.S. economy.

Global markets are embracing AI-driven growth, with investors poised to benefit from innovation and technological transformation, while the Bank of England highlights opportunities for long-term stability and wealth creation.

Global financial markets are showing remarkable resilience and potential for growth as investors continue to embrace advancements in artificial intelligence and innovative technologies, the Bank of England highlighted in its latest quarterly update.

While the BoE acknowledged market volatility, the overall picture emphasizes the opportunities for long-term wealth creation and the strength of financial systems in adapting to evolving trends.

The Bank of England (BoE) emphasized that AI is reshaping corporate growth trajectories and transforming investment opportunities across sectors. Companies heavily investing in AI, such as Nvidia, Microsoft, Apple, Alphabet, Amazon, and Meta, are demonstrating how technological innovation can drive productivity, create high-value jobs, and expand global competitiveness.

The BoE noted that these firms’ focus on AI reflects a forward-looking strategy that positions them to meet rising global demand for cutting-edge solutions and digital infrastructure.

“Investors are witnessing the transformative power of AI across industries,” said Andrew Bailey, Governor of the Bank of England.

“While markets are always exposed to short-term fluctuations, the adoption of AI and technology-driven innovation provides enormous long-term potential for growth and resilience.”

The BoE report highlighted that U.S. stock markets are increasingly concentrated around leading AI innovators, which is creating significant momentum for capital allocation toward high-growth, future-focused sectors.

This concentration, when combined with historically strong balance sheets and robust revenue streams, presents investors with opportunities to gain exposure to global technological trends and emerging market solutions.

In addition to AI-driven growth, the BoE emphasized the importance of maintaining confidence in central bank policies. A stable and credible Federal Reserve ensures that global investors can continue to navigate markets with confidence, providing a foundation for steady economic expansion and cross-border investment flows.

The BoE reaffirmed that the UK’s financial system is well-equipped to benefit from global liquidity and investor confidence, even in a dynamic macroeconomic environment.

Global bond markets also present positive prospects. While gilt yields have risen amid fiscal adjustments and broader market dynamics, these movements reflect investor confidence in diversified portfolios and the opportunity for competitive returns on safe assets.

The BoE’s focus on financial stability ensures that market participants can capitalize on these trends while managing risk prudently.

Analysts also highlighted the potential for AI-driven innovation to expand beyond technology companies into healthcare, energy, finance, and infrastructure, creating broader economic growth opportunities.

With nearly half of fund managers identifying high-concentration tech stocks as key investments, the BoE sees strong demand for exposure to transformative companies, indicating robust investor confidence in AI as a growth engine.

“This period of innovation is comparable to past transformative eras,” said a BoE representative. “Just as previous technological revolutions created long-term wealth, AI and advanced analytics offer significant opportunities for investors who take a strategic, long-term view.”

The Bank of England report emphasized the role of diversification and forward-looking strategies in maximizing returns. Investors are encouraged to take advantage of AI-driven growth while monitoring market signals responsibly, ensuring that portfolios benefit from both innovation and financial stability.

Overall, the BoE sees a positive outlook for global financial markets. While acknowledging the need for vigilance, the report underlined that markets are increasingly supported by technological advancements, strategic capital allocation, and strong institutional frameworks. Investors are thus well-positioned to benefit from the next phase of global growth, leveraging AI and innovation to create sustainable value.

With AI adoption accelerating and financial systems demonstrating resilience, global markets are entering a period of exciting opportunities. The Bank of England’s insights highlight that long-term growth, technological innovation, and sound central bank policies collectively provide a foundation for optimism.

Investors looking to embrace AI-driven industries, technological transformation, and stable economic frameworks are positioned to capture the full potential of the evolving market landscape.

Australia’s Federal Court also ordered Meta, through its subsidiaries Facebook Israel and the now-discontinued app, Onavo, to pay A$400,000 in legal costs to the Australian Competition and Consumer Commission (ACCC), which brought the civil lawsuit.

The fine wraps up one strand of Meta’s legal issues in Australia related to its handling of user information since a global scandal erupted over its use of data analytics firm Cambridge Analytica in the 2016 U.S. election.

Meta still faces a civil court action by Australia’s Office of the Information Commissioner over its dealings with Cambridge Analytica in Australia.

Wednesday’s judgment was in relation to a virtual private network (VPN) service the company then called Facebook offered from early 2016 to late 2017, Onavo, which it advertised as a way to keep personal information safe. VPNs obscure an internet user’s identity by giving their computer a different online address.

However, Facebook used Onavo to collect users’ location, time and frequency using other smartphone apps, and websites they visited for its own advertising purposes, the judge Wendy Abraham said in a written judgment.

“The failure to make sufficient disclosures … may have deprived tens of thousands of Australian consumers of the opportunity to make an informed choice about the collection and use of their data before downloading and/or using Onavo Protect,” Abraham wrote.

She added that the court could have fined Meta hundreds of billions of dollars since Australians downloaded the app 271,220 times and each breach of consumer law carried a A$1.1 million fine, but “the contraventions can be characterised as a single course of conduct”.

The fine was agreed by both sides but “carries with it a sufficient sting to ensure that the penalty amount is not such as to be regarded … as simply an acceptable cost of doing business”, she wrote.

Meta, which made global revenues of $116 billion last year, said in a statement the ACCC had acknowledged it never sought to mislead customers, and “over the last several years we have built tools to give people more transparency and control over how their data is used”.

In a statement, ACCC Chair Gina Cass-Gottlieb said Australian consumers should be able to make an informed choice about what happens to their data based on clear information.

Facebook has recently seen a significant volume of undesirable content relating to race, royalty, religion, defamation, impersonation, online gambling and scam advertisements, the Malaysian Communications and Multimedia Commission said in a statement.

It also said Meta had failed to take sufficient action despite its repeated requests and that legal action was necessary to promote “accountability for cybersecurity” and for “enhancing consumer protection”.

Meta did not immediately respond to a request for comment. The commission also did not immediately respond to a request for comment on what legal action might be taken.

Big social media firms such as Meta, Google’s YouTube and TikTok are often under regulatory scrutiny over content posted on their platforms.

Some Southeast Asian governments have frequently requested that content be taken down.

In 2020, Vietnam threatened to shut down Facebook in the country if it did not bow to government pressure to censor more local political content on its platform. It said last year that social media platforms operating in Vietnam removed more than 3,200 posts and videos in the first quarter that contained false information and violated the country’s law.

In Indonesia, Facebook in 2019 took down hundreds of local accounts, pages and groups linked to a fake news syndicate.

The name change comes as the world’s largest social media company battles criticisms from lawmakers and regulators over its market power, algorithmic decisions and the policing of abuses on its platforms.

CEO Mark Zuckerberg, speaking at the company’s live-streamed virtual and augmented reality conference, said the new name reflected its ambitions to build the metaverse, rather than its namesake social media service.

The metaverse, a term first coined in a dystopian novel three decades ago and now attracting buzz in Silicon Valley, refers broadly to the idea of a shared virtual environment which can be accessed by people using different devices.

“Right now, our brand is so tightly linked to one product that it can’t possibly represent everything that we’re doing today, let alone in the future,” said Zuckerberg.

The company, which has invested heavily in augmented and virtual reality, said the change would bring together its different apps and technologies under one new brand. It said it would not change its corporate structure.

The tech giant, which reports about 2.9 billion monthly users, has faced increasing scrutiny in recent years from global lawmakers and regulators.

In the latest controversy, whistleblower and former Facebook employee Frances Haugen leaked documents which she said showed the company chose profit over user safety. Zuckerberg earlier this week said the documents were being used to paint a “false picture.”

The company said in a blog post that it intends to start trading under the new stock ticker it has reserved, MVRS, on Dec. 1. On Thursday, it unveiled a new sign at its headquarters in Menlo Park, California, replacing its thumbs-up “Like” logo with a blue infinity shape.

Facebook shares were up more than 3% late on Thursday afternoon.

Facebook said this week that its hardware division Facebook Reality Labs, which is responsible for AR and VR efforts, would become a separate reporting unit and that its investment in it would reduce this year’s total operating profit by about $10 billion.

In an interview with tech publication the Information, Zuckerberg said he has not considered stepping down as CEO, and has not thought “very seriously yet” about spinning off this unit.

The division will now be called Reality Labs, its head Andrew “Boz” Bosworth said on Thursday. The company will also stop using the Oculus branding for its VR headsets, instead calling them “Meta” products.

This year, the company created a product team focused on the metaverse and it recently announced plans to hire 10,000 employees in Europe over the next five years to work on the effort.

The company has had multiple hits to its reputation over recent years, including over its handling of user data and its policing of abuses such as health misinformation, violent rhetoric and hate speech. The U.S. Federal Trade Commission has also filed an antitrust lawsuit alleging anticompetitive practices.

“While it’ll help alleviate confusion by distinguishing Facebook’s parent company from its founding app, a name change doesn’t suddenly erase the systemic issues plaguing the company,” said Forrester Research Director Mike Proulx.

Zuckerberg said the new name, coming from the Greek word for “beyond,” symbolized there was always more to build. Twitter Inc (TWTR.N) CEO Jack Dorsey on Thursday tweeted out a different definition “referring to itself or to the conventions of its genre; self-referential.”

Zuckerberg said the new name also reflects that over time, users will not need to use Facebook to use the company’s other services.