Formula One Great to Develop Electric Vans, SUVs for Carmakers, Startups

An undated handout photo of the Gordon Murray Group's T50 supercar, which will go into limited production in 2022 and carry a price tag of 2.4 million pounds. (Handout via Reuters)
An undated handout photo of the Gordon Murray Group's T50 supercar, which will go into limited production in 2022 and carry a price tag of 2.4 million pounds. (Handout via Reuters)
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Formula One Great to Develop Electric Vans, SUVs for Carmakers, Startups

An undated handout photo of the Gordon Murray Group's T50 supercar, which will go into limited production in 2022 and carry a price tag of 2.4 million pounds. (Handout via Reuters)
An undated handout photo of the Gordon Murray Group's T50 supercar, which will go into limited production in 2022 and carry a price tag of 2.4 million pounds. (Handout via Reuters)

Supercar maker the Gordon Murray Group said on Tuesday it plans a 300-million-pound ($420 million) expansion over the next five years, which includes developing electric SUVs and delivery vehicles for carmakers as it shifts towards an all-electric supercar by 2030.

"Electric is what we've been missing and that's where the future is," founder and chairman Gordon Murray, the Formula One design great who oversaw one of the sport's most successful cars to date, told Reuters.

The company will produce its first supercar, the T50, with a powerful V12 engine, in 2022.

The carmaker will make 100 of them next year, selling for around 2.4 million pounds each. They are already sold out.

The company will launch one more fossil-fuel supercar after the T50, followed by a hybrid model around 2026 and then a fully-electric supercar in 2029 or 2030.

The challenge for premium car firms like McLaren and Lotus, part-owned by Chinese company Geely, is that batteries are very heavy, making it hard to develop sports cars or supercars that perform like their fossil-fuel equivalents.

Murray described the supercar as a "brand building" product at the upper end of his business "while at the customer-facing end we'll focus on light-weighting and electric cars".

The company does not just see itself as a carmaker, but as an auto supplier. It has been working on designs for a lightweight SUV and a delivery van, which it aims to sell to traditional manufacturers or startups.

Over the next two and a half years the carmaker will develop a small test fleet of these vehicles to international standards.

"We're hoping to pick up a customer or two along the way," Murray said. "And it doesn't have to be a carmaker, it can be a post office, or a company like Amazon."



Adobe Shares Drop after CEO Exit Adds to AI-disruption Concerns

FILE PHOTO: Signage for Adobe is displayed at National Retail Federation (NRF) 2026: Retail's Big Show, in New York City, US, January 12, 2026. REUTERS/Kylie Cooper/File Photo
FILE PHOTO: Signage for Adobe is displayed at National Retail Federation (NRF) 2026: Retail's Big Show, in New York City, US, January 12, 2026. REUTERS/Kylie Cooper/File Photo
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Adobe Shares Drop after CEO Exit Adds to AI-disruption Concerns

FILE PHOTO: Signage for Adobe is displayed at National Retail Federation (NRF) 2026: Retail's Big Show, in New York City, US, January 12, 2026. REUTERS/Kylie Cooper/File Photo
FILE PHOTO: Signage for Adobe is displayed at National Retail Federation (NRF) 2026: Retail's Big Show, in New York City, US, January 12, 2026. REUTERS/Kylie Cooper/File Photo

Adobe's shares plunged 9% in premarket trading on Friday after the Photoshop maker said CEO Shantanu Narayen would step down after 18 years at the helm, unsettling investors already wary of AI-driven disruptions to the design software market.

The longtime CEO's exit comes at a critical juncture as Adobe works to reassure investors it can keep pace with sweeping changes brought by artificial intelligence in the software landscape.

It follows a broader slide in software stocks after fears that ⁠AI agents could ⁠supplant some traditional applications that led to a nearly $1 trillion rout in software stocks globally last month.

"The loss of an iconic leader at a time of peak uncertainty around the future of software more broadly, and the positioning of Adobe ⁠specifically in this new GenAI world is bound to further investor uncertainty and anxiety around the shares," said analysts at Morgan Stanley.

Adobe's shares are down about 23% so far this year, extending a slide that has stretched over the past two years.

The company, which makes Illustrator, Premiere Pro and other tools for creative professionals, is among a group of SaaS providers including Salesforce that have ⁠struggled to win ⁠new clients amid a wave of AI start-ups.

On Thursday, Adobe reported double-digit growth in total revenue and customer subscription segments in the first quarter, reflecting resilient spending on its product suite.

"After steering the Adobe ship through rough seas over the past several years, several data points from the most recent quarter suggest the captain (Narayen) may have brought this franchise into a safe harbor, from which it can continue to thrive," Morgan Stanley analysts said.


AI Agent 'Lobster Fever' Grips China Despite Risks

A man wears a lobster hat that represents the OpenClaw logo, an open-source AI assistant at the Baidu headquarters in Beijing on March 11, 2026. (Photo by ADEK BERRY / AFP)
A man wears a lobster hat that represents the OpenClaw logo, an open-source AI assistant at the Baidu headquarters in Beijing on March 11, 2026. (Photo by ADEK BERRY / AFP)
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AI Agent 'Lobster Fever' Grips China Despite Risks

A man wears a lobster hat that represents the OpenClaw logo, an open-source AI assistant at the Baidu headquarters in Beijing on March 11, 2026. (Photo by ADEK BERRY / AFP)
A man wears a lobster hat that represents the OpenClaw logo, an open-source AI assistant at the Baidu headquarters in Beijing on March 11, 2026. (Photo by ADEK BERRY / AFP)

Chinese entrepreneur Frank Gao used to spend long hours running his social media accounts but now outsources the chore to AI agent tool OpenClaw, which is taking the country by storm despite official warnings over cybersecurity.

OpenClaw, created in November by an Austrian coder, differs from bots like ChatGPT because it can execute real-life tasks such as sending emails, organizing files or even booking flight tickets.

"Since January, I've spent hours on the lobster every day," Gao told AFP, referring to OpenClaw's red crustacean mascot. "We're family."

After downloading OpenClaw, users connect it to existing artificial intelligence models of their choice, then give it simple instructions through instant messaging apps, as if to a friend or colleague.

The tool has fascinated tech circles worldwide but particularly in China, gripping tech-savvy companies and individuals keen to keep up with the next big thing in AI.

Hundreds of people queued at tech giant Baidu's Beijing headquarters this week for an OpenClaw event where engineers helped attendees set up their "little lobsters".

It was one of many similar meetups to experiment with the tool, which are drawing crowds from Shanghai to Shenzhen.

Some municipalities, including the eastern cities of Wuxi and Hangzhou, have pledged hundreds of thousands of dollars to support the adoption and development of OpenClaw and other AI agents.

But the lobster fever, as it has been dubbed, has also sparked security concerns.

"What's truly scary about agents like OpenClaw is this: once they have your digital keys, they can theoretically access all the services you've authorized, and can autonomously decide when to activate them," Gao warned.

"The attacker effectively gains a 'master key' to your digital identity," said the engineer, who has named his OpenClaw agent "Q" after his business name QLab.

- 'Use with caution' -

Chinese national cybersecurity authorities and Beijing's ministry of industry and IT have warned of the risks of OpenClaw hacks.

"Use intelligent agents such as 'lobster' with caution," national IT research institute expert Wei Liang advised government agencies, public institutions, companies and individuals in a message on state media.

The mixed signals of rolling out policy incentives while issuing warnings "reflects the authorities' cautious tolerance towards 'lobster fever'," Zhang Yi, founder of tech consultancy iiMedia, told AFP.

Austrian programmer Peter Steinberger, who built OpenClaw to help organize his digital life, was hired last month by ChatGPT maker OpenAI.

Meanwhile, a separate team of coders that made Moltbook, a Reddit-like pseudo social network where OpenClaw agents converse, are joining Meta.

Top Chinese tech companies have also been quick to get involved.

The likes of Tencent, Alibaba, ByteDance and Baidu are offering simplified installation and affordable coding plans to help users who want to host OpenClaw agents on their cloud servers -- seen as safer than downloading it onto a personal computer.

In recent days AI companies big and small have also launched their own competing agent tools, such as ByteDance's ArkClaw, Tencent's WorkBuddy and Zhipu AI's AutoClaw.

The relatively low cost for cloud deployment of OpenClaw in China, subsidised by big tech firms, is one factor behind its popularity, said Gao Rui, a senior product manager at Baidu AI Cloud.

"For most people, it's likely just the price of a cup of coffee... which is why people will probably be keen to give it a try," she told AFP.

- FOMO -

Fear of missing out is also a big driver behind OpenClaw's success in China, said Chen Yunfei, an AI developer who created a popular online guide for using the tool.

"Most Chinese people are quite studious and forward-looking, so when confronted with new things, they might have stronger feelings" of so-called FOMO, he said.

Xie Manrui, a programmer whose latest project is a visualized system for managing OpenClaw agents, said the tool had arrived "at the right moment" to change perceptions in China of what AI can do.

"For many, AI is merely a clever chatbot that talks all the time but cannot act," he said.

Either way, it has piqued the curiosity of many young users.

At the Baidu event in Beijing, 24-year-old college student Zheng Huimin was waiting patiently in line with her friends.

"I'd like to give it a go to see what tasks it can actually help me accomplish," she told AFP.


EU Spokesperson: X Submits Remedies Relating to Blue Check Mark

FILE PHOTO: A 3D-printed miniature model of Elon Musk and the X logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of Elon Musk and the X logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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EU Spokesperson: X Submits Remedies Relating to Blue Check Mark

FILE PHOTO: A 3D-printed miniature model of Elon Musk and the X logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of Elon Musk and the X logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

Elon Musk's social media platform X has submitted remedies in relation to its blue checkmark verification feature following a fine of 120 million euros ($137.63 million), a European Commission spokesperson said on Friday.

EU tech regulators fined X in December for breaching online content rules, the first such action under a landmark legislation that drew criticism from the US government.

Here are the details:

The Commission will ⁠now carefully assess ⁠the proposed remedies, European Commission spokesperson Thomas Regnier added, without giving details.

X did not immediately respond to Reuters requests for comment.

The EU action against X had followed a two-year-long investigation under ⁠the bloc's Digital Services Act (DSA), which requires online platforms to do more to tackle illegal and harmful content.

The European Commission in July 2024 had charged X with deceiving users, saying that the blue checkmark does not correspond to industry practices and that anyone can pay to get a "verified" status.

Bloomberg News first reported on ⁠Thursday ⁠that X has agreed to change its verification mechanism in the European Union.

The blue checkmark had previously indicated that an account belonged to a public figure whose identity was verified, but Musk changed it to indicate it belonged to a paid subscriber after acquiring X, formerly known as Twitter, in 2022.