businessTuesday, June 30, 2026
Today's business news is dominated by warnings and setbacks. The BIS worries about the debt from AI investments, a Canadian geothermal project in Germany has failed, and Ford is hiring veteran engineers to fix its AI tools. Meanwhile, bosses' obsession with AI is creating toxic workplaces, and Google is fighting EU regulations on privacy grounds.
The Bank for International Settlements and a wave of AI-obsessed bosses are raising red flags about the sustainability of AI investments.
The BIS warns that the AI boom is creating financial instability, focusing not on whether AI investments pay off but who bears the debt if they don't.
A growing trend of executives using AI for every decision, including firing employees, is creating toxic work environments and nonsensical directives.
Two stories highlight the gap between ambition and reality in energy and tech: a geothermal project fails, and Ford turns to experienced engineers to make AI work.
A Canadian geothermal company's closed-loop system in Germany failed after six months due to clogged loops and budget overruns, undermining promises of scalable clean energy.
Ford hired 350 veteran engineers to mentor younger workers and fix ineffective AI tools, acknowledging that AI is only as good as the human expertise behind it.
Google warns EU plans could expose user data, while Comcast spins off NBCUniversal's cable networks.
Google opposes EU plans to open up search data and AI capabilities, framing its resistance as a privacy concern rather than an anticompetitive stance.
Comcast is spinning off NBCUniversal's cable networks into a separate company, reversing its content-and-distribution strategy as cable TV declines.
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