Employers should teach primary-age children about work, says Milburn

Artificial intelligence (AI) could trigger financial market shocks and the UK needs to be prepared for them, the governor of the Bank of England has warned. Andrew Bailey said the central bank is watching the huge amounts of money being invested in AI "very carefully" and cautioned that "not everybody always wins". The money that has been spent on and loaned to AI firms over the last few years in the hope of large returns is causing markets to value some of them as multi-trillion dollar businesses.

The price of vapes is set to rise as a new tax comes into effect, with the aim of making vaping less attractive to children and young people. The Vaping Product Duty will be imposed at a rate of £2.20 per 10ml of e-liquid. However, many customers will not see a jump in prices immediately, as sellers have six months to sell old stock at the pre-duty price. The government wants to reduce the appeal of vapes by making them more expensive, as more evidence of its adverse effect on health comes out, particularly on children and young people.

Energy prices have now risen by nearly 4%, with forecasts of a much bigger jump to come in January. Regulator Ofgem's price cap affects about 20 million households in England, Scotland and Wales and sets a maximum price for each unit of gas and electricity. Forecasters have suggested a 16% increase is possible in January , due to high wholesale prices paid by suppliers as a result of the conflict in the Middle East.

Lilly said it plans to start Phase 3 trials on the combo regimen adding its amylin drug eloralintide to tirzepatide at the end of the year.