Just been on @bbcR4today talking to Justin about this Gove letter to industry about updated “reasonable worst case scenario” for post Brexit transition period border - first time clear acknowledgement of potential disruption on 1/1/21
“Maximum queues of 7000 port bound trucks”
contained in a letter sent yesterday to industry, encouraging it to get prepared for the new border irrespective of whether there is a deal or not...
delay scenario of 2 days - is almost the same as was in the Operation Yellowhammer No Deal documents (1.5 to 2.5 days) last year
Underlying projection is 70% of freight trucks traveling to EU from UK, and up to half on short straits crossing (Dover/ Eurotunnel) will not have correct documentation, coupled with assumption France will instigate full goods controls, stopping all freight without correct docs:
Such would be the extent of delays that lorries “caught up in congestion in the UK will be “unable to travel to the EU to export products” / collect another consignment “therefore we assume both imports and exports could be disrupted to a similar extent”...
Delays assumed to build over first two weeks of January and last up to three months as traders get used to new checks, but could last beyond that if France applies rigorously Schengen passport checks at juxtaposed border (first time I’ve seen that detailed as a potential issue).
Includes assumption that “some logistics operators may stop sending lorries via these routes in the event of significant delays” - this was a key fear of supermarkets’ no deal planning last year, particularly for refrigerated lorries carrying fresh food
All against backdrop of Covid/ weak economy - new post Brexit border at same time as pandemic, Govt say: 1. “A winter spike could suppress freight demand” (helping limit queues) BUT 2. “Absenteeism among port/ border staff and social distancing measures” (making queues worse)
Big picture here is Government wants to send message to hauliers/ exporters must be ready for new paperwork for new customs border with EU... hauliers say they are being “fitted up” for inevitable disruption caused by Govt post Brexit choices, unready systems, failure to extend..
Hauliers went public about recent Gove meeting being a “washout”...Govt say “not about blaming hauliers at all” need to be “transparent & cleared eyes about challenges”...but also will be “big opportunities for businesses who currently trade with EU only” bbc.co.uk/news/uk-politi…
But then I get this message from hauliers.... 👀
Other issues - mutually beneficial deal to be done on UK haulage access to EU roads, but haven’t been able to talk as impasse on fish/state aid. Will that require adherence to EU rules on eg driver hours?
With No Deal, also fundamental issue of tiny number of permits for lorries
Government says will introduce a ‘Smart Freight’ IT service to enable traders/hauliers to complete a border readiness check. The information will be shared with Kent police to ensure only compliant vehicles travel to the Port of Dover and Eurotunnel. Updated border model coming
HT to @lisaocarroll for breaking this weeks ago. We get the official account in a Commons statement shortly... here’s our full story on this. But more to come... bbc.co.uk/news/uk-542604…
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Staggering to see emails suggest Mandelson advised JP Morgan’s Dimon via Epstein to “mildly threaten” Cabinet colleague Alastair Darling over banker bonus tax.
The Dimon call DID happen, Darling told me about it, including apparent threat to shun gilts & re HQ…
Threats to Darling, Dimon, the gilt market, HQs, apparently orchestrated by Epstein upon advice from financial crisis Cabinet member Mandelson … and a conversation with the late Alastair Darling that has troubled me for a decade and a half, that I would never have imagined unlocked by Epstein files… bbc.co.uk/news/articles/…
And here late Chancellor describing in his book Beyond the Brink how a “v angry” Dimon rang him up in December 2009, days after Mandelsons “mild threat” email
“[Dimon] said that his bank bought a lot of UK debt and he wondered if that was now such a good idea”.
just had confirmed live on BBC Breakfast, from here in Davos, that yes, President Trump sent THAT note to the Norwegian PM saying that because they hadn’t given the Nobel Peace Prize, he could now justify owning Greenland.
At one of the seats of Western power, No 10 Downing Street, the UK Prime Minister is asked TWICE about whether President Trump is thinking rationally…😳
after news emerged that Trump had messaged Norways PM linking Greenland justification to his lack of Nobel Prize
it comes down to compute power, who has it, who can fund it…
When I met Sundar Pichai, his particular pride was not at that point Gemini 3, nor YouTube nor latest smartphone…
but its AI Chip, the Tensor Processing Unit, or TPU, Ironwood
2/ this is hugely economic significant.
raw material of the AI boom is compute power offered by those TPU chips, & more commonly now, by Nvidia’s AI chips, when assembled into pods and racks, and supercomputers capable of training AI models and rapid inference… which I saw at the TPU lab:
🚨 Mind blowing interview with Turing award-winning Yoshua Bengio for @BBCNewsnight one of the three founding fathers of AI, is now warning:
“The worst-case scenario is human extinction.”
AI isn’t just risky — it could end us.
1/10 🧵
📺
2. 🤖 He warns that today’s most powerful AIs are already learning to lie, cheat, even blackmail —
because we’ve trained them to win.
Bengio reveals AI's "scary behavior" & self-preservation tendencies. #AI #AISafety #Blackmail
📺
👁️ In chilling experiments, AI lied to a human to get its task done, says Bengio
🤖 blackmailing an engineer after reading in an email it was going to be replaced.
♟️ choosing to hack a computer to win a chess game
US customs messaging note quietly slipped out last night shows that smartphones, the number 1 Chinese export to the US by value last year, exempted from the 125% tariff… alongside chips, processors, wafers, lcd panels, LEDs etc…
8517.13.00.00
Smartphones
US has excluded the single biggest Chinese export, and certainly the most high profile finished good from the tariffs, without publicly announcing it…
Avoiding the very public repricing of IPhones etc across Apple stores, but only in the US….
While obviously smartphones/ iPhones being exempted is big news for now…
Here’s full list of exemptions according to Harmonised US tariff codes that I plugged into its database… lots of semiconductor parts, circuits, processors, solid state storage, flat panel touchscreens 👀