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(Sharecast News) - Britain cannot afford a fresh spending binge, the International Monetary Fund (IMF) has warned Andy Burnham. The Washington-based body said the UK Government should be "very selective in accommodating new demands" for spending and instead focus on reducing the deficit. It cautioned that the UK faces serious "challenges" from high debts, rising interest bills and the increasing costs of healthcare and pensions linked to an ageing population. - Telegraph
Middle-class workers will face the biggest hit to their livelihoods from the rise of artificial intelligence (AI) and risk being plunged into poverty, a senior Labour adviser has warned. Politicians and the private sector must launch a concerted effort to prevent AI from hollowing out the middle classes, Simon Johnson, the Nobel Prize-winning economist, has warned. - Telegraph
Vodafone has settled a long-running legal claim filed by 62 of its former franchisees who alleged the mobile phone group "unjustly enriched" itself at their expense by up to £85m. The small-business owners - some of whom said they had suffered suicidal thoughts because of the pressure exerted by the telecoms group - launched the high court claim in 2024 after running up large personal debts they said had been caused by their deals with the company. - Guardian
Partners at A&O Shearman will receive £2.2 million in pay on average after profits rose for the transatlantic member of the "magic circle" of City law firms. The pay represents a 12 per cent boost for the 700 partners at the firm, which unlike some in the City operates a full-equity model. - The Times
Netflix disappointed investors with third-quarter revenue guidance that fell below Wall Street estimates yesterday, as the streaming giant fends off competition for consumers' attention from rival entertainment platforms and social media. The Los Gatos, California-headquartered company said it expects revenue of $12.86 billion in the July to September quarter, below analyst forecasts of $13 billion. - The Times
