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UK exposed to ‘serious harm’ by failure to tackle AI risks, MPs warn

Government, Bank of England and FCA criticised for taking ‘wait-and-see’ approach to AI use in financial sector Consumers and the UK financial system are being exposed to “serious harm” by the failure of government and the Bank of England to get a grip on the risks posed by

Global central banks offer ‘full solidarity’ to US Fed’s Powell amid Trump threats

Ten governors including Bank of England’s Andrew Bailey and ECB’s Christine Lagarde say independence is critical JP Morgan boss says Trump attacks risk central bank independence Global central banks have issued an extraordinary joint statement offering “full solidarity” to the US Federal Reserve chair, Jerome Powell, in the

Strong UK pay growth could limit interest rate cuts, Bank policymaker warns

Megan Greene says apparent end to the decline in wage growth could hinder fight against inflation The Bank of England may not be able to lower interest rates as much as expected this year, due to strong UK pay growth and expected rate cuts in the US, one

Bank of England governor hits out at populism as Trump interferes in US Fed

Andrew Bailey says he and heads of other institutions have responsibility to ‘challenge back’ populist narratives Business live – latest updates The governor of the Bank of England has urged the world’s leading global institutions to fight back against the rise of populism, warning that it represents one

‘We could hit a wall’: why trillions of dollars of risk is no guarantee of AI reward

Progress of artificial general intelligence could stall, which may lead to a financial crash, says Yoshua Bengio, one of the ‘godfathers’ of modern AI Will the race to artificial general intelligence (AGI) lead us to a land of financial plenty – or will it end in a 2008-style

FCA stops Advantage Wealth Management Ltd from carrying out regulated activities and imposes assets restriction

The FCA has imposed restrictions on independent financial adviser Advantage Wealth Management Ltd (AWM), which means it must not dispose of any assets or conduct any regulated activities without the written consent of the FCA. The action follows concerns that AWM is not being managed in a way

New solution for TenneT’s capital requirements

TenneT is making the electricity grid fit for the future. Major investments will be required in the coming years to strengthen and expand the grid. This is necessary to meet growing demand for electricity, including from households and companies that want a new or higher power connection. TenneT

2025 Tax Plan: more balanced income distribution and healthy public finances

Today Folkert Idsinga, State Secretary for Tax Affairs and the Tax Administration, presented the 2025 Tax Plan to the House of Representatives. The package contains a range of measures to contribute to healthy public finances, improved purchasing power and a stronger business climate. It also includes a number

Budget Day 2024: more purchasing power and a return to fiscal discipline

Next year most people will be financially better off. It will pay more to work due to cuts in income tax, and measures on purchasing power will prevent a rise in poverty. The government will also invest heavily in our security, and the budget will absorb the recent

2023: a better financial outcome, despite turbulent economic times

With the world in flux, 2023 was an economically turbulent year. Inflation was high, interest rates rose and the Netherlands saw virtually no economic growth. The war in Ukraine sent energy prices soaring. The Dutch government took a range of extra measures to prevent a rise in poverty,

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