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Global business developments this morning featured two major developments: a boost for British artificial intelligence ambitions and a significant increase in international trade disputes.

Google DeepMind's Robotic Science Laboratory

Google DeepMind revealed intentions to construct its first “automated science laboratory” in the UK. This decision is seen as a significant lift to the nation's AI ambitions.

The lab will be mainly focused on advanced materials discovery. It will leverage “world-class robotics” to synthesize and characterize many hundreds of materials daily. The main aim is to dramatically reduce the timeline for identifying revolutionary new materials.

The company commented that the lab, set to be built in 2026, will “help turbocharge scientific discovery”. They elaborated:

Discovering new materials is a crucial endeavors in scientific research, offering the potential to reduce costs and unlock entirely new technologies.

To illustrate, materials that conduct electricity without resistance that function at ambient conditions could enable low cost diagnostic scans and minimize power loss in electrical grids. New substances could help us tackle pressing energy challenges by enabling next-generation batteries, more efficient photovoltaic cells and more efficient semiconductors.

The lab is one element in a wider partnership with the UK government. Under the agreement, British researchers will get special access to several advanced AI models for research purposes.

Mexico's Trade Move

In a separate development, global trade tensions escalated further after the Mexican legislature passed tariff hikes of up to fifty percent next year on imports from the People's Republic of China and several other Asian-Pacific nations.

The import duties are meant to bolster domestic manufacturing. They will apply new duties of as much as 50% from next year on specific products such as automobiles, vehicle components, fabrics, apparel, plastics and steel products.

The measures will affect goods from countries without free trade agreements with the country, such as China, India, South Korea, Thailand and Indonesia. The majority of products will see tariffs of up to 35%.

The Chinese Ministry of Commerce has criticised the decision, urging Mexico to correct “unilateral, protectionist practices” as soon as possible.

Other Business Updates

Moscow's energy export revenues reached their lowest point following the invasion of Ukraine in 2022. A global energy watchdog reported that exports declined again in November due to lower shipments and weaker prices.

In Switzerland, the central bank has left interest rates on hold at zero percent. Officials cited inflation that was somewhat softer than expected, but added that medium-term inflationary pressure remained virtually unchanged.

The AI sector faced selling pressure after disappointing earnings from Oracle. The company's shares slid in extended dealing after it fell short of sales and profit expectations and increased its expenditure outlook for AI data centers. This fueled worries about the financial returns of heavy AI investments.