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Worldwide business developments this morning included two significant stories: a boost for the UK's AI sector and a significant increase in international trade disputes.

The AI Firm's Robotic Science Lab

Google DeepMind stated plans to establish its inaugural “automated science laboratory” in the UK. This decision is viewed as a significant lift to the nation's AI ambitions.

The facility will be mainly dedicated to materials science discovery. It will leverage “cutting-edge robotics” to synthesize and characterize hundreds of substances per day. The primary goal is to dramatically shorten the timeframe for identifying revolutionary new materials.

The organization stated that the lab, scheduled to be built in the year 2026, will “supercharge research breakthroughs”. In a statement:

Finding new materials is a vital pursuits in scientific research, providing the opportunity to lower expenses and pave the way for entirely new innovations.

For example, materials that conduct electricity without resistance that function at ambient temperature and pressure could enable low cost medical imaging and reduce power loss in electrical grids. Other novel materials could assist in addressing critical energy issues by enabling advanced batteries, more efficient solar cells and higher-performance semiconductors.

This initiative is one element in a wider partnership with the UK government. Under the agreement, British researchers will get special access to a suite of cutting-edge artificial intelligence tools for research purposes.

Mexico's Trade Decision

In a separate development, international trade tensions escalated further after the Mexican Senate passed tariff hikes of up to 50% next year on goods from the People's Republic of China and a number of other Asian countries.

The new levies are intended to protect domestic industry. They will apply new tariffs of as much as 50 percent from next year on certain products such as autos, vehicle components, textiles, clothing, plastics and steel.

These tariffs will apply to goods from nations without free trade agreements with the country, including China, India, South Korea, Thailand and Indonesia. The majority of products will see duties of around 35%.

China's Ministry of Commerce has criticised the move, calling on Mexico to rectify “one-sided, protectionist measures” promptly.

Other Business News

Russia's energy export revenues have hit their lowest level following the invasion of Ukraine in 2022. A global energy watchdog reported that exports declined again in November due to reduced shipments and lower market prices.

In Switzerland, the central bank kept interest rates unchanged at zero percent. Officials pointed to price increases that was somewhat softer than anticipated, but added that medium-term inflationary pressure remained largely the same.

The AI sector experienced pressure following disappointing earnings from the software giant Oracle. The company's shares fell sharply in after-hours trading after it missed sales and earnings forecasts and increased its expenditure outlook for artificial intelligence infrastructure. This raised concerns about the financial returns of heavy AI investments.