This week AI's costs and its consequences arrived together. Central banks warned of a debt-fuelled crash while FTSE-100 names cut jobs, chip prices climbed, and Europe scrambled for independence from US suppliers - even as Morrisons booked £940m in real savings.

Key stories:

• BIS warns an AI investment boom could trigger a financial crash

• BAT cuts 5,500 jobs and Oracle 21,000 in AI-driven restructuring

• Washington partly reverses Anthropic export curbs for trusted organisations

• Morrisons reports £940m in AI savings as a hard proof-point

• The FCA rethinks its regulatory model for an AI age

• Five Eyes warns AI cyber threats are now months, not years, away

• Apple raises prices and Google caps Meta's Gemini compute amid a chip crunch

• Europe debates AI sovereignty as the EU eyes cloud gatekeeper rules for AWS and Azure

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