US-listed company, whose profits have been in decline since the pandemic, will be taken over by Picea

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The US company behind the Roomba robot vacuum cleaner has filed for bankruptcy protection and agreed to be taken over by one of its Chinese suppliers.

iRobot, which is best known for debuting the Roomba vacuum cleaner in the early 2000s, will be taken over by a subsidiary of its main supplier, Picea Robotics.

City watchdog the FCA announces plans to help first-time buyers and self-employed get on the property ladder

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House prices in the UK could rise by as much as 4% next year but getting on the property ladder may become slightly less difficult, according to forecasts from the lender Nationwide.

Robert Gardner, the chief economist at the building society, said prices were likely to increase by 2-4%. “We expect housing market activity to strengthen a little further, as affordability improves gradually via income growth outpacing house price growth and a further modest decline in interest rates,” he said.

Boss says German firm also investing in generative engine optimisation to help push it to top of chatbot responses

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Tui, Europe’s biggest travel operator, has said it is investing heavily in AI as more people turn to ChatGPT to help book their holidays, including using the technology to create “inspirational” videos and content.

The chief executive, Sebastian Ebel, said the company was investing in generative engine optimisation (GEO), the latest incarnation of search engine optimisation (SEO), to help push Tui to the top of results from AI chatbots including ChatGPT and Gemini.