AI THREATENS UK YOUTH JOBS AS ALPHABET SPLURGES $80BN

AI employment impact Analysts warn that AI adoption will disproportionately affect younger workers entering the job market, with automation eliminating entry-level positions traditionally filled by school and university leavers. The trend raises questions about workforce transition support and retraining initiatives. Alphabet's spending push Alphabet announced an $80 billion capital expenditure program, reflecting major tech companies' aggressive investment in AI infrastructure and development. The spending underscores the competitive race among tech giants to build AI capabilities. Eurozone inflation pressure Eurozone consumer price inflation reached 3.2% in May—the highest level since September 2023—up from 3% in April. The increase, confirmed by Eurostat, signals persistent price pressures across the 19-nation currency bloc and strengthens the case for further European Central Bank interest rate hikes to combat rising costs.