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Economy May 29, 2026

‘Hundreds of job applications’: Young people grapple with a broken labour market

A series of personal accounts from 24‑year‑olds in Brighton, Essex, London and Glasgow reveal how c…
The Personal Stories Highlight a Growing Youth Employment CrisisFour young adults, all aged 21‑24, share how the UK labour market has become a maze of unpaid internships, short‑term gigs and relentless job applications, leaving them anxious about the future.From Film Graduates to Care Leavers: Real‑World Barriers to EmploymentCatherina, 24, Brighton – Digital film graduate who has only secured runner roles despite festival‑screened shorts.Olivia, 24, Essex – Former retail worker forced to quit after epileptic seizures; cites inadequate employer adjustments and lack of disability‑specific guidance.Giovanna, 24, London – Care‑leaver who navigated hostel life, temporary hospitality jobs and a nine‑month civil‑service training scheme.Joseph, 21, Glasgow – Neurodivergent musical‑theatre trainee who cycled through supermarket, call‑centre and software‑engineering apprenticeship amid “hundreds” of applications.Common Threads Across the NarrativesRepeatedly sending hundreds of job applications with little to no response.Reliance on charities such as Spear, Young Women’s Trust and Drive Forward Foundation for coaching, CV help and mental‑health support.Financial insecurity forcing continued low‑paid work or early return from sick leave.Systemic gaps: lack of clear disability guidance, insufficient sick‑pay, and short‑term workplace counselling that fails neurodivergent staff.Why the Labour Market Is Failing Young PeopleThe stories echo the broader “Milburn report” warning that the labour market is increasingly inaccessible to young people, especially women and care‑leavers. Employers tout diversity initiatives, yet many lack the infrastructure to support disability accommodations or the mentorship needed for sustainable career progression.What Needs to Change to Re‑ignite Youth EmploymentGovernment‑mandated, clearer guidance on disability rights and employer obligations.Expanded financial safety nets for those unable to work due to health conditions.Long‑term, relationship‑based employment programmes that go beyond “first‑job placement”.Targeted investment in sectors that can absorb young talent, such as civil service apprenticeships and tech training pathways.
#Guardian #Youth Unemployment #Spear
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Tech May 28, 2026

AI Token Futures Emerge as Financial Markets Bet on AI's Future Value

Major financial exchanges are developing futures markets for AI tokens and GPU rentals, creating ne…
The Rise of AI Financial MarketsThe most important market of the future could be in LLM tokens — and financial groups are rushing to build new infrastructure for them. China's Shanghai Futures Exchange is currently designing a derivatives market for AI tokens, while major derivatives exchanges CME Group and the Intercontinental Exchange (the owner of the NYSE) have separately announced they're working on launching futures contracts for renting GPUs.Building the AI Derivatives InfrastructureGPU markets are still maturing, but given the wide range of companies using, selling, and renting GPUs, there's already a robust market for spot prices on GPU rental, typically charged by the hour. This has prompted major financial players to develop futures contracts that would allow businesses to hedge against fluctuating compute costs.Enterprise plans for major AI companies are commonly denominated in tokens: OpenAI, for example, charges $5 per million input tokens, and $30 per million output tokens if you want to use the API for its latest GPT-5.5 model. Even cloud providers are increasingly offering the opportunity to charge per token, as in Amazon's Bedrock system.The Economics of GPU and Token PricingAccording to data from AI Mining Co., which tracks daily GPU rental pricing across 28 marketplaces and cloud providers, median prices for Nvidia H100 GPUs ranged from $1.40 to $4.27 per hour across 13 marketplaces, while the average price for H200 GPUs were between $2.34 and $5 per hour across 10 marketplaces.Just over the past seven days, average H100 prices ranged from $2.79 to $3.33, showing the volatility that makes futures contracts attractive for risk management.Transforming the AI Investment LandscapeThe effort comes amid an unprecedented buildout of AI infrastructure. Cloud service providers, private equity firms, and infrastructure players alike have poured hundreds of billions into building data centers, anticipating that demand for GPUs and compute will continue to rise.An emerging crop of global neocloud companies is also vying for a piece of this demand. Some of these new entrants are specializing, focusing on inference, while others are competing with cloud giants like Oracle, AWS, and Google Cloud to offer their services to AI companies.The Future of AI Financial InstrumentsBy targeting AI tokens, the Shanghai exchange's derivative product would be tied to how AI companies price their services, giving businesses, investors, and data center operators a way to hedge against the cost of compute. As AI becomes increasingly central to business operations, these financial instruments will likely become essential components of the technology investment ecosystem.
#AI Tokens #GPU Futures #Shanghai Futures Exchange
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Economy May 28, 2026

National Mission Needed to Tackle UK Youth Unemployment, Says Milburn Report

A new commission led by former health secretary Alan Milburn warns that more than 1 million 16‑24‑y…
The Guardian editorial argues that the UK must treat the plight of NEETs as a national priority, linking rising youth unemployment to inadequate training, housing costs and a fragmented policy framework.Milburn Commission Highlights Over 1 Million UK NEETsThe commission’s report, due in the autumn, shines a bright light on the 1 million young people aged 16‑24 who are not in education, employment or training. It criticises political attacks on welfare and “kids‑these‑days” rhetoric, insisting that the problem is fundamentally a policy failure.The Scale of the Crisis: Over 1 Million Young People Out of Work or Study1 million NEETs – roughly one in eight of the 16‑24 cohort.60 % are economically inactive, meaning they are not actively seeking work.Health‑related universal credit claims have risen in regions with fewer entry‑level jobs.Apprenticeship starts have fallen 35 % over the past decade.Why the UK Is Falling Behind Europe on Youth EmploymentCompared with other wealthy European nations, the UK records one of the highest rates of young people not in work or study. Contributing factors include:Housing inflation limiting independent living for young adults.Restrictive GCSE combinations that disadvantage less academic pupils.Chaotic further‑education reforms and the poorly‑implemented apprenticeship levy.Automation and AI‑driven profit growth that do not translate into entry‑level opportunities.A National Participation System: Pathway to Re‑engaging Young WorkersThe report proposes a new “participation system” that would coordinate work and pensions, health, education and business departments to pull young people into the labour market. While ambitious, the editorial stresses that without a clear, cross‑departmental mission the UK will continue to lose a generation to inactivity.
#Alan Milburn #NEET #UK government
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World Wide May 28, 2026

Tragic Fire Kills 16 Students at Kenyan Girls' Boarding School

A devastating fire at a girls' boarding school in Kenya has claimed the lives of 16 students, highl…
The Deadly Night at the Boarding SchoolA devastating fire has swept through a girls' boarding school in Kenya, resulting in the tragic loss of 16 students. The incident has sent shockwaves through the nation and raised urgent questions about safety standards in educational facilities.Emergency Response Under ScrutinyEmergency services responded to the scene, but the fire had already caused extensive damage. Authorities have launched an investigation to determine the cause of the blaze and whether proper safety protocols were followed. The school's administration is cooperating with investigators as they work to understand what led to this preventable tragedy.Systemic Safety Failures ExposedThis incident has cast a spotlight on safety conditions in Kenya's boarding schools, many of which operate with aging infrastructure and limited safety measures. Education officials face mounting pressure to review and enforce stricter safety standards across all educational institutions in the country.Nation in MourningThe local community and the wider nation are mourning the loss of these young lives. Vigils have been organized, and parents are demanding immediate action to ensure the safety of all students. This tragedy has ignited a national conversation about educational safety and the need for comprehensive reform.Toward Safer SchoolsIn the aftermath of this devastating incident, Kenya's government is expected to announce new safety measures for boarding schools nationwide. These may include improved fire detection systems, regular safety audits, and enhanced emergency response protocols to prevent such tragedies from occurring in the future.
#Kenya #School Fire #Education
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Tech May 28, 2026

Sesame: From Oculus Founders to Conversational AI Agents on iOS

Sesame, a conversational AI startup founded by Oculus founders, has launched its iOS app featuring …
The Launch of Sesame's Conversational AI On Thursday, the AI startup Sesame, co-founded by Oculus' founders and others from the VR company that sold to Meta, released a public preview of the conversational AI agents it's been developing for over a year. With its new iOS app, Sesame is rethinking the traditional AI chatbot experience popularized by apps like ChatGPT, creating one where conversation flows, even if the AI needs time to think. Reimagining AI Conversation Flow As the company explains in its launch announcement, "There's an inherent tension between replying quickly and taking the time to compose thoughtful responses. A slower response is usually more correct, but it can also feel unnatural if it takes too long." To address this challenge, Sesame claims to have built fast search and retrieval systems, so the AI can have up-to-date information, as well as technology that allows it to run multiple parallel searches while speaking, weaving those results into its responses as it talks. That means the AI will talk more like a human, even pivoting mid-sentence if need be, as it taps into newer information — as a human might when remembering another key fact or point they want to add. User Growth and Development Milestones The app offers four distinct AI agents called Maya, Miles, Simone, and Charlie, each of which have their own distinct voice, personality, point of view, and memory. Maya and Miles were previously available in Sesame's Research Preview of its technology, where they were soon accessed by over one million people within the first few weeks, said Sesame investor Sequoia at the time. (The company had then just raised its $250 million Series B from Sequoia and others and was opening up a beta.) During the beta, Sesame learned from user feedback and rolled out features such as search cards with image results for visualizing concepts, notes for capturing takeaways, a texting mode for those times when speaking aloud is not an option, and support for deep dives where you can get more in-depth results. There's also a new incognito mode for private conversations, which allows the agents access to prior context but saves nothing to memory. Transforming the AI Landscape The app, however, is only the first step toward Sesame's bigger plans for AI involving intelligent eyewear, which the team expects to launch in 2027. Before that, the agents will also learn to do more than just think with you, Sesame hints, suggesting they'll later be able to take action on your behalf — hence why they're called "agents" in the first place, instead of just chatbots. That is potentially even more interesting, as working with agentic tools or apps today requires being able to prompt for what you need and have a specific idea of what you want to happen, and sometimes, even how it should happen. A conversational agent that you could talk to naturally could help you take the next steps, without you having to perfect the command you're giving it. The Road to AI-Powered Eyewear The iOS app is out today in 39 countries, and the full experience is free for the time being. However, there still may be a short waitlist at sign-up. An Android preview is coming in the future, the company says.
#Sesame #Oculus #Meta
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Sports May 28, 2026

Crystal Palace clinch Conference League triumph, eyeing bigger ambitions

Crystal Palace secured their third trophy in 12 months by beating Rayo Vallecano in the Conference …
Palace's Conference League triumph caps a stellar seasonIn a match billed as a "feel‑good final," Crystal Palace lifted the Conference League trophy, marking their third piece of silverware in a year that also saw an FA Cup victory. The win underscores the club's rising financial clout compared with their working‑class rivals, Rayo Vallecano, who remain trophy‑less after 102 years.Conference League final: Palace defeat Rayo VallecanoThe Tin Pot decider at the Red Bull Arena ended with Palace prevailing, thanks to a decisive strike from Jean‑Philippe Mateta. Rayo’s supporters displayed stoic resilience, unfurling a banner that read, "I know no greater victory than to be with you in defeat."Venue: Red Bull Arena, BudapestDate: 27 May 2026Scoreline: Palace 1‑0 Rayo VallecanoKey player: Jean‑Philippe Mateta (match‑winning goal)Financial and squad implications of the third trophyPalace’s "vastly superior financial heft" has allowed them to assemble a squad capable of competing on multiple fronts. The victory adds to a cabinet that previously held only a Kent Senior Cup, signalling a shift in the club’s revenue streams from prize money, merchandising, and increased broadcast share.Estimated prize money for the Conference League win: £20 millionProjected increase in season ticket sales for 2026‑27: +12%Potential market value uplift for key players (Mateta, Wharton, Lacroix): +15‑20%What the win means for Palace's standing in English footballThe triumph elevates Palace from a Premier League survival outfit to a genuine European contender. Manager Oliver Glasner received praise for his tactical acumen, while the club’s board is already being linked with high‑profile managerial candidates such as Andoni Iraola and former Coventry City boss Frank Lampard should Glasner depart.Future outlook: managerial moves and transfer market activityWith the summer window approaching, Palace faces a "massive scramble" for retained talents like Mateta, Adam Wharton, and Maxence Lacroix. Rumours suggest interest from larger clubs, meaning Palace must decide whether to cash in or build a squad capable of challenging for a Europa League spot.Potential incoming manager candidates: Andoni Iraola, Frank LampardKey transfer targets to retain: Mateta, Wharton, LacroixStrategic goal for 2026‑27: Qualify for Europa League via league position
#Crystal Palace #Rayo Vallecano #Oliver Glasner
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Sports May 28, 2026

Wigan Warriors Ready for Wembley Takeover at Challenge Cup Finals

Wigan Warriors are set to take over Wembley as they compete in the Challenge Cup finals, with both …
The Road to Wembley Wigan Warriors are gearing up for a big presence at Wembley as they compete in the Challenge Cup finals on Saturday. The club has selected two players, Liam Farrell and Jenna Foubister, to represent them at a Wembley photoshoot, showcasing the team's strong squad and dedication to the sport. Wigan's Successful History Wigan have a remarkable record in finals, rarely losing two on the bounce. With 21 Challenge Cups under their belt, the team is driven by a strong mentality and a rich history of success. According to Farrell, 'There's a bit of outside pressure, an expectation from fans in the town to win. There's also a strong mentality at the club of Wigan lads, who have grown up watching us win finals, wanting to reproduce that themselves.' The Next Generation The club's academy graduates account for 20% of all Super League players, demonstrating Wigan's commitment to developing young talent. Foubister, a 19-year-old player, has already made her England debut and won the quadruple, highlighting the club's ability to nurture and support its players. 'The club put a lot into the youth system,' she says. 'They are very supportive in the way they shape players for the future.' A New Era for Women's Rugby Wigan have taken a proactive approach to providing for their female players, with the women's team having sole use of the revamped Edge Hall Road site. This move has helped to increase the team's fanbase and provide a platform for players like Foubister to develop their skills. 'It is a privilege having our own ground,' she says. 'We can go up whenever we want and have the freedom to train, whereas at Robin Park you got slotted in at a certain time.' Building a Legacy As Farrell's career enters its final phase, Foubister aims to become a hero in her hometown and build a legacy for the women's team. 'The men have a lot of history behind them, but the women's team has to build a history of our own now,' she says. With the support of the town and the club, Foubister and her teammates are well on their way to achieving their goals.
#Wigan Warriors #Challenge Cup #Wembley
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Sports May 28, 2026

IOC President Coventry’s Anti‑Prize‑Money Remarks Ignite Global Athlete Outcry

IOC President Kirsty Coventry sparked a social‑media firestorm by declaring athletes should not be …
IOC President Kirsty Coventry sparked a social‑media firestorm by declaring athletes should not be paid prize money at the Games, prompting a wave of criticism from Olympians worldwide.Coventry’s anti‑prize‑money stance fuels athlete criticismDuring an interview with New Zealand outlet Sport Nation, Coventry said, “I don’t believe in paying athletes… I come from a small country… I still don’t think we should be paying athletes at the Olympic Games.” She added that the IOC should focus on talent identification and support for athletes from smaller nations. The remarks arrived on her first Oceania visit as the first woman and first African chief of the IOC.Prominent athletes responded on Instagram, with Cameron McEvoy calling the timing “inopportune” after the controversial Enhanced Games offered lucrative payouts. Former champions Filippo Magnini, Grant Hackett, Roland Schoeman, and others echoed the sentiment that athletes sacrifice without financial reward.Financial figures underline the controversy$12.4 b – total revenue generated by the IOC in the 2021‑2024 cycle.74 % – portion of that revenue redistributed back into international sport.$250,000 – prize awarded per gold medal at the Enhanced Games.$1 m – bonus earned by swimmer Kristian Gkolomeev for a “world‑record” at the same event.$350,000 – reported annual salary for the IOC president.Broader impact on Olympic governance and athlete rightsThe backlash has revived calls for an athletes’ union and a review of the IOC’s use of athletes’ name, image, and likeness (NIL). Critics point to the World Athletics decision to award $50,000 for Olympic gold as a benchmark, while questioning why the IOC, which commands billions, does not adopt a similar model.Former champion Greg Rutherford and Paralympic star Hunter Woodhall labeled the stance “embarrassing” and urged faster formation of a union. The debate also intersects with recent controversies over gender‑verification policies and past financial scandals involving the former president Thomas Bach.What’s next for IOC compensation policies?Analysts suggest the mounting pressure could force the IOC to explore NIL‑type arrangements or introduce modest prize pools to retain athlete goodwill. If the union movement gains traction, the organization may face a governance overhaul similar to the NCAA’s 2021 NIL reforms.Until a concrete policy shift is announced, the conversation around athlete compensation is likely to dominate Olympic discourse in the lead‑up to the 2028 Los Angeles Games.
#Kirsty Coventry #IOC #Athlete Compensation
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Tech May 28, 2026

RSI is the new AGI — and it's just as hard to pin down

Recursive self-improvement (RSI) has become the latest buzzword in AI, with researchers and startup…
The Rise of Recursive Self-Improvement in AIThe word "recursion" is the latest buzzword in AI circles. Two separate startups have taken on the name, and many more have started referencing recursive self-improvement (RSI) in their roadmaps. Like AGI before it, RSI has become a three-letter byword for a cataclysmic AI takeoff – even if there's still a little disagreement about what it exactly means.In basic terms, RSI refers to an AI system that can continuously upgrade itself. Once AI systems can manage the upgrade cycle better than humans, the process can become a closed loop, limited only by the compute power they can access, and humans are no longer necessary or even helpful.Scary or not, that's a vision that a lot of AI labs are eager to chase.Key Players Pursuing Recursive SystemsEarlier this month, well-known AI researcher Richard Socher launched the aptly named Recursive Superintelligence with RSI as an explicit goal. "Our main focus is to build truly recursive, self-improving superintelligence at scale," Socher told TechCrunch at launch, "which means that the entire process of ideation, implementation, and validation of research ideas would be automatic."A number of other prominent researchers are already chasing that same goal, hoping for a breakthrough that will make recursive self-improvement possible.One of the most prominent is Andrej Karpathy, a legendary figure from Tesla and OpenAI, who is using agent swarms to train LLMs on simple tasks for a project he calls Auto-Research. Karpathy has been unusually open about the project, tweeting about milestones regularly and making the building blocks available through a public GitHub repo. So far, the work has mostly been confined to making minor improvements on a GPT-2 scale model — as Karpathy noted in March, "It's not novel, ground-breaking 'research' (yet)" — but it's been enough to convince lots of other researchers to follow the RSI dream. And with Karpathy now working on pre-training at Anthropic, he will have plenty of opportunity to apply the idea at a larger scale.Adaption — founded by Cohere and Google alum Sara Hooker — recently launched a similar tool called AutoScientist in an effort to automate frontier training. Like Karpathy's auto-researchers, the system trains agents to make incremental improvements — but for Adaption, the goal is to make it easier to train a full-scale frontier model. If those same researchers start to push the frontier forward, the system could quickly spiral into something very much like RSI.Disarray founder Doris Xin drew more specific RSI interest when her self-trained machine learning agent took home 28 medals in a recent Kaggle competition, beating out many human-trained agents. As she sees it, the major challenge is reliability."I would argue, given infinite compute and infinite time horizon, we are already there," Xin told me. "I want to make an argument that this is not a creative endeavor, really. It's just a lot of meat-and-potatoes engineering."The Current State of Self-Improving AIThere's also plenty of evidence that the AI industry isn't very close to recursive systems in any meaningful way — and is still grappling with talking to a wary public about its progress. So Google CEO Sundar Pichai basically admitted in a recent podcast interview."It's a continuum, and we are all definitely making progress," Pichai said. "But in the way people describe RSI, that would represent a next level of acceleration and would have a lot of implications, but we aren't quite there yet."But the continuum includes an awful lot of self-improving AI systems.In January, one of Anthropic's lead programmers for Claude Code estimated that "close to 100%" of his team's code was written by the tool — a frank admission that Claude Code was literally writing itself.Just because engineers are using an AI tool doesn't mean the tool can replace them — but Anthropic seems to be getting close to replacing engineers too. In a recent survey tied to the Mythos preview, five out of 18 Anthropic engineers believed that, with harness improvements, this version of Mythos could soon substitute for an L4 engineer — a midlevel programmer who can take on involved projects without supervision.Still, there were some of the same weaknesses you might expect."Some of Claude's major reported weaknesses compared to an L4 include: self-managing week-long ambiguous tasks, understanding org priorities, taste, verification, instruction-following, and epistemics," the report reads.In other words, its weaknesses are everything involved with self-direction, which is the cornerstone for RSI. But sure, for everything else, Claude is ready to step right in.Expert Perspectives on RSI TimelinesJust like the AGI term before it, the AI industry also can't tell us how far away it is from showcasing a meaningful recursive system. When Georgetown's Center for Security and Emerging Technology assembled a group of experts to study RSI last year, the group found a major split in assessments — some expecting an imminent "superintelligence" style explosion while others expected slower progress and an eventual plateau. But all agreed that recursion made the future especially difficult to predict.Helen Toner, director of CSET and a former board member at OpenAI, told TechCrunch that simply using AI tools to do AI research isn't enough to qualify as RSI. "They're just using AI for as much as they can," Toner told TechCrunch. "And I think that is different from the classic definition of RSI, which is really that there are no humans needed."Toner pointed to a recent post by METR's Ajeya Cotra, which distinguishes different milestones on the path to the AI research takeover. One step, which Cotra calls "adequacy," would come when the system can still perform research after all humans are removed — even if the resulting research isn't as valuable or efficient. "Parity" comes when an AI-only system is as good at research as a human-only system. "Supremacy," the final stage, comes when an AI-only system outperforms a collaborative system between humans and AI.Ultimately, Cotra concludes that AI is very close to the adequacy threshold of being able to produce some work on its own — similar to the incremental changes made by Karpathy's Auto-Research system. "I wouldn't be totally shocked if you told me this milestone had already passed, and I expect it to happen in the next couple years," Cotra wrote.She was less clear on when parity will come, but once it does, she thinks it would "massively accelerate the pace of AI progress, leading to AI research supremacy within another year."The Challenges Ahead for Recursive AIWith so much of AI built on scaling laws, there's a strong tendency to think RSI will follow the same curve. Toner thinks that many of those pursuing AI research and development via RSI "think of it as a pretty smooth ladder, where you can just keep scaling up."But even if AI researchers are able to make incremental improvements like Karpathy's auto-researchers, there will be larger challenges in handing off the whole process of research. Toner put it in terms of the history of computing, which has seen human beings handing off more and more of the process while still directing things from the top."We went from machine languages to assembly language and compiled languages; you're getting further and further from the guts of the computer," Toner said. "But the human is still, in some intuitive sense, running the show."Moving beyond that paradigm will take significant challenges, both in engineering and alignment. But even with the massive investments happening, there's no infinite compute available — and the basic trade-off between human labor and machine intelligence will be hard to overcome.The Future of Recursive Self-ImprovementAs for a total recursive AI system of apocalyptic visions? The only thing researchers essentially agree on is that, like AGI, it's not here yet.
#Recursive Self-Improvement #AGI #AI Research
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