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A new edition of the Future of Life Institute's AI safety index says the safety practices of artificial intelligence companies including Anthropic, OpenAI, xAI and Meta are "far short of emerging global standards." Max Tegmark, MIT professor and Future of Life president, observed: "Despite recent uproar over AI-powered hacking and AI driving people to psychosis and self-harm, US AI companies remain less regulated than restaurants and continue lobbying against binding safety standards."

 

Reuters

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The International Accounting Standards Board (IASB) has proposed a new model under which banks could give investors a clearer view on how they manage risks, such as those associated with changing interest rates. "Our proposed risk mitigation accounting model aims to bring accounting and risk management closer together to enhance internal efficiency and strengthen communication between financial institutions and their stakeholders," said IASB chair Andreas Barckow. A consultation is open until July 31, 2026.

 

Reuters

The Financial Times reports that the European Commission is planning to open an antitrust investigation into Meta over the integration of its artificial intelligence system in WhatsApp. Meta AI, a chatbot and virtual assistant, has been built into WhatsApp's interface since March 2025 across European markets.

 

Bloomberg

Financial Times

Ireland's media regulator has launched investigations into TikTok and LinkedIn amid concerns regarding their reporting mechanisms for illegal content, particularly the difficulty in reporting child sexual abuse material anonymously. The probes are part of the regulator's oversight under the European Union's Digital Services Act (DSA), which mandates that online platforms implement user-friendly reporting processes. John Evans, Ireland's digital services commissioner, said that "there is reason to suspect" the platforms may not comply with the DSA, which could precipitate fines of up to 6% of annual turnover if violations are confirmed.

 

Reuters

Financial Conduct Authority CEO Nikhil Rathi says artificial intelligence requires totally different thinking, “not just about risk in the system but the way we regulate and how our organisations interact together.”

 

Financial Times

Authorities have conducted searches at the Leipzig, Germany and Stans, Switzerland offices of Swiss technology firm SoftwareOne as part of an investigation into potential insider-trading violations involving five non-executive current or former employees. The five unidentified people are alleged to have sold “large quantities” of shares before the firm published two pre-market press releases that would negatively impact the share price, according to a Eurojust statement.

 

Bloomberg

UK law now recognizes digital assets as property.  The new Property Act 2025 clarifies that digital assets, including cryptocurrencies and stablecoins, can enjoy the same legal protections as traditional property. Trade body CryptoUK said the change makes it easier for courts to settle disagreements involving stolen funds, inheritance cases or company failures involving digital holdings.

 

Cryptonews

Cryptopolitan

Reuters reports that London Stock Exchange Group (LSEG) is to integrate its financial data and analytics into ChatGPT and make OpenAI's enterprise tool available to employees, as it deepens a push to embed artificial intelligence across financial markets.

 

Reuters

The UN Trade and Development Agency (UNCTAD) has warned that the global financial system must adapt to better meet economic needs, particularly for developing countries, or risk undermining international trade. Secretary-General Rebeca Grynspan highlighted the interdependence of trade and finance, saying: "Trade is not just a chain of suppliers; it is also a chain of credit lines, payment systems, currency markets and capital flows." The UNCTAD report called for reforms aimed at aligning trade with finance and promoting long-term stability, and emphasised the need for integrated policy frameworks that recognise the vital links between these sectors.

 

Reuters

Marie Jaroni, Thyssenkrupp's steel division chief, has told the Frankfurter Allgemeine Zeitung newspaper that a restructuring deal that will cut or outsource about 11,000 jobs will cost the company several hundred million euros. "The restructuring is costing us a mid-three-figure million euro sum. The exact amount depends on how many employees accept which offer," Jaroni told FAZ. She said the deal will pay off because the company will have permanently lower personnel costs - "a low three-digit million amount less annually than today."

 

Reuters

Swiss mining company Glencore has slashed 1,000 jobs as it cuts costs and streamlines operations amid plans to become the “biggest copper producer in the world,” according to CEO Gary Nagle. The company said it aims to mine an annual 1.6m tonnes of copper by 2035. “That is our target, we are going to get there,” Nagle said.

 

Bloomberg

Financial Times

The Times

European broadcaster RTL, part of media conglomerate Bertelsmann, plans to cut about 600 full-time jobs in Germany. The cuts are equivalent to roughly 10% of the broadcaster's German workforce. RTL Germany CEO Stephan Schmitter said the cuts would be implemented in a socially responsible manner through a special severance program and early retirement arrangements. "The media market is undergoing profound change,"Schmitter observed.

 

Reuters

The UK and the Netherlands have withdrawn a combined $2.2bn in support to a controversial liquefied natural gas project in Mozambique led by France’s TotalEnergies that has been on hold since a terror attack in 2021. Both countries have hired firms to investigate human rights concerns surrounding the development.

 

Financial Times

Reuters

Brussels is considering setting “made in Europe” targets of up to 70% for the content of some products as it pushes to prioritise domestic goods and cut reliance on China.

 

Financial Times

Federica Mogherini has resigned as Rector of the College of Europe and Director of the European Union Diplomatic Academy amid a fraud investigation. She announced her departure without providing specific reasons, saying it was done "in line with the utmost rigour and fairness." Mogherini was detained for questioning following police raids at the EU diplomatic service in Brussels and the college in Bruges. Mogherini, along with a college staff member and a senior European Commission official, was questioned by the Belgian Federal Judicial Police and subsequently released.

 

The I

The Indian government has reversed a policy mandating the installation of a state-run cyber security app on citizens' mobile devices. Prime Minister Narendra Modi's government had privately told companies including Apple, Samsung, and Xiaomi that their products would have to carry an app called Sanchar Saathi, which would be able to access call logs and memory systems. The initiative was met with opposition from privacy advocates, as well as the tech companies themselves. The Internet Freedom Foundation called the reversal a “welcome development”, and thanked all parties who “raised their voice, reported on the issue or pushed back against this mandate.”

 

Financial Times

Reuters