Robinhood CEO says companies can’t control how their stock is tokenized as AMC clash escalates
Robinhood CEO says companies can't control how their stock is tokenized as AMC clash escalates. Robinhood's Vlad Tenev said public companies can’t control financial products built around their stock while acknowledging token holders don’t get voting rights.
What happened
Reynolds says: “We do not intervene in private companies lightly. Donald Trump, though, dismissed calls to increase controls on AI as a “sick conspiracy”, as stocks linked to the technology slumped after appeals from leading developers on the weekend for the industry to slow down. AJ Bell head of financial analysis Danni Hewson says: “For London’s FTSE 100, today was another day when the lack of tech stocks was a boon. Skip to main contentSkip to navigationSkip to key eventsBusiness liveBusinessUK government moves to acquire Speciality Steel UK; AI stocks hit by calls for slowdown – as it happenedRolling coverage of the latest economic and financial news AI-linked stocks fall after tech bosses call for slowdown in ‘reckless’ development AI CEOs say they need to slow the pace of development.
The Guardian view on controlling AI: humanity cannot outsource its survival Updated 30m agoGraeme WeardenMon 14 Sep 2026 12. 2% after AI slowdown call4h agoOdey loses appeal against financial services ban6h agoRAC: Fuel hits new Iran war high7h agoChina: AI warnings are 'fearmongering'7h agoUK gilt yields pushed to new highs by rising oil price8h agoEuropean tech stocks hit six-week low9h agoFull story: AI-linked stocks fall after tech bosses call for slowdown in ‘reckless’ development9h agoAirBaltic files for Chapter 11 bankruptcy protection to cut debts10h agoUK gas prices highest in close to four years10h agoASML shares hit by AI slowdown call10h agoAI victims' share prices rise10h agoIG: Tech wobbles as AI enthusiasm wanes11h agoWill AI CEOs actually slow down?
11h agoOpenAI Pre IPO market-cap contract falls11h agoIntroduction: AI-linked Asian stocks slump after slowdown call An aerial view of Specialist Steel's site in Rotherham, England.
The wider picture
According to the government, SSUK’s four sites support over 1,300 jobs in Rotherham, Stocksbridge, Brinsworth and Wednesbury. 11h agoOpenAI Pre IPO market-cap contract falls11h agoIntroduction: AI-linked Asian stocks slump after slowdown callTime to wrap up…One of Britain’s steelworks is to come into public ownership after the government said it would take over Yorkshire-based Speciality Steel UK (SSUK). Jonathan Reynolds, the business secretary, said officials would “work towards” acquiring the company to protect the jobs of its 1,300 workers in Rotherham, Stocksbridge and Brinsworth in South Yorkshire and Wednesbury in the West Midlands.
8% on Monday, as investors sold off US chip and memory stocks. Companies seen as vulnerable to AI disruption led the risers in London, with software firm Sage (+5. Investors rotated into defensive stocks in a bid to ride out current volatility. Reynolds says: What is the barrier to a private sector solution? It believes the decision to acquire SSUK will give “added security” to the 1,300 employees in Rotherham, Stocksbridge, Brinsworth and Wednesbury.
What has been reported
UK Steel director-general, Gareth Stace, says: “This Government is once again stepping up to do what is needed for the UK steel industry. In a punchy post on Truth Social, Trump posts (with typical modesty): The only control or “guardrails” that AI needs is a STRONG AND SMART (High IQ! ) PRESIDENT, and the U. That rather indicates the White House will not be backing a slowdown in AI development, despite calls for it in recent days from the major US AI companies.
We already have tremendous CRIMINAL and REGULATORY power over these companies! The S&P 500 share index, which tracks a broad swathe of the US stock market, is down 0. 2%) are the top faller, followed by Hewlett Packard Enterprise, who sell enterprise AI products to companies. Explore more on these topicsBusinessBusiness liveEconomicsStock marketsAI (artificial intelligence)FTSEShareReuse this contentMost viewedMost viewed 08 EDTShareKey events29m agoClosing post45m agoFTSE 100 closes higher on day of AI jitters48m agoBlastr Green Steel: We are disappointed1h agoECB's Lagarde: Europe faces risks of being cut off from AI1h agoReynolds: SSUK plan isn't ideological2h agoUK government moves to acquire Speciality Steel UK2h agoUS 10-year Treasury yields hit 5% in bond sell-off3h agoTrump: there's a sick conspiracy against AI3h agoUK unions to fight rollback of business regulation3h agoChipmakers among the fallers4h agoNasdaq falls 1.
What happens next
Photograph: Christopher Furlong/Getty ImagesView image in fullscreenAn aerial view of Specialist Steel's site in Rotherham, England. Photograph: Christopher Furlong/Getty ImagesFrom 2h agoNewsflash: The UK government has decided to acquire the country’s third-largest steel producer. The Business Secretary Jonathan Reynolds has announced the Government will “work towards” the public acquisition of Speciality Steel UK (SSUK), after ministers decided they could not support its sale to Norwegian steel startup Blastr Green Steel. SSUK has been in liquidation since last year, and was part of Sanjeev Gupta’s Liberty Steel before its recent collapse.
The company is an important part of the UK steel sector as it can make steel for use in the auto, aero and defence sectors. Reynolds is stepping in after deciding Blastr’s proposal could not provide long-term stability, certainty and value for money. But nor can we simply stand aside and allow the future of this company and over 1,300 jobs to be decided by default.