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The Netherlands is to expand its investment screening regime in a bid to better protect knowledge deemed critical to national security. The 2023 law already applies screenings to the semiconductor and quantum computing sectors, and will now be expanded to apply to artificial intelligence, advanced materials, nanotechnology, sensor and navigation technology, nuclear technology for medical use, and biotechnology. “The Netherlands is the target for cyber operations, espionage and sabotage. That is why, as a government, we must protect and strengthen our knowledge, innovations and businesses,” Economic Affairs Minister Heleen Herbert said. “Our goal remains an open economy but we remain vigilant about risks,” she added.

 

Bloomberg

Andy Haldane, the former chief economist of the Bank of England, has called for a drastic reduction in the number of UK regulators and their budgets, suggesting a "chainsaw" approach to reform. His comments came as he issued a mea culpa over the tight regulations he imposed on the financial sector in the wake of the banking crisis. He said: "In my defence, what was right when risk-taking was too high is not what's right now when risk-taking is too low," adding: "We need agile regulation." Haldane, who is president of the British Chambers of Commerce, said: "The problem now . . . has not been too much risk-taking. It's been too little." This, he said, is "the single biggest reason why growth is being subdued," adding: "People haven't been taking risks. They've been saving, not spending. They've been sticking, not twisting."

 

Sunday Times

UK Prime Minister Sir Keir Starmer is set to announce a ban on under-16s accessing social media platforms such as TikTok, Snapchat and Instagram. Starmer will announce the ban today following pressure to protect teenagers from harmful content. Children will be prevented from livestreaming themselves, making contact with adult strangers and using AI chatbots designed for romantic or sexual purposes. There could also be curfews for 16 and 17-year-olds to prevent them going on line at night. The new restrictions are likely to be enforced by facial scans to verify age.

 

Financial Times

The Daily Telegraph

The Guardian

The Times

Voters in Switzerland have rejected a proposal to limit the country's population to 10m. Results showed nearly 55% of participants voted against and 45% voted for. The turnout was 60% of the population. Championed by the right-wing Swiss People’s Party, the proposal stipulated that the population must not exceed 10m before 2050, and that if it did so for two years, Switzerland should end freedom of movement with the EU. The vote was opposed by the government, Swiss businesses, and all the other major parties. “With today’s decision, the electorate has sent out a signal of stability, openness, and reliability,” Swiss Justice Minister Beat Jans told a press conference alongside Swiss President Guy Parmelin.

 

Bloomberg

CNN

BBC News

CNBC reports on how major AI companies, including OpenAI and Anthropic, have in the last year announced significant expansions in London, driven by the need for top technical and commercial talent. “It's all about talent,” Mike Wiseman, head of campuses at British Land, says. “London has built a deep and mature technology ecosystem over many years, and if you're looking to scale a business internationally, it's one of the few markets globally that can support that level of growth.” Meanwhile, Frederic Groussolles, partner at executive search firm Heidrick & Struggles, observes that “A decade of investment anchored by DeepMind, major research labs and leading universities has created a mature talent base spanning AI research, engineering and commercial leadership.” London is also one of the world's foremost financial centres, Groussolles adds, allowing companies “ready access to venture, growth equity and corporate development networks.”

 

CNBC

Reuters reports that Volkswagen ​CEO Oliver Blume is ​set to tell investors at the upcoming AGM that the auto maker is pressing ahead with ​sweeping job cuts ‌and cost reductions in Germany as planned, reducing ​its workforce by ​19,000 by the end ⁠of the year.

 

Reuters

Brussels is preparing to protect Europe’s industries from future carbon costs if companies make “much-needed investments in Europe,” according to an internal document seen by the FT.

 

Financial Times

Meta has ordered its employees to stop using Manus tools for internal projects and is blocking the Singapore-based firm's staff from accessing the Facebook parent company's internal data systems from this month. The operational split comes as Manus and Meta move to comply with Chinese regulators' demands to reverse the deal, which CNBC says has become a test case for how far Beijing will go to safeguard its strategic technology and talent. Bloomberg observes that Meta’s landmark acquisition of Manus, which was initially celebrated as a blueprint for Chinese AI startups keen to expand on a global stage, quickly drew criticism for handing over key technology to a geopolitical rival.

 

CNBC

The Netherlands Organisation for Applied Scientific Research (TNO) has found that while AI can enhance efficiency, it does not guarantee increased productivity. TNO investigated how four organisations deployed AI. “The results show that AI accelerates and simplifies work processes at the organisations, but that productivity gains are not a standard consequence,” said the researchers, who also highlighted that employers need to give more consideration to how AI affects employees' working conditions. “AI influences not only the quantity of work, but also the quality of work.” According to the researchers, employers often focus only on improving productivity through task automation, and do not consider the consequences for their workers' day-to-day.

 

NL Times

An investigation has found serious flaws in a KPMG report on agentic AI. The study examined 45 citations in the firm's Total Experience: Redefining Excellence in the Age of Agentic AI report and concluded that only five accurately referenced genuine sources. Most citation titles were fabricated, distorted or incorrectly attributed through what KPMG has called "vibe citing" – the tendency of AI systems to generate plausible but inaccurate references. It was also found that around half of the report’s factual claims were false, unsupported or misattributed. KPMG said it takes the accuracy and integrity of its content seriously and expects human oversight when AI tools are used.

 

Financial Times

City AM

Four in five boards in the UK are debating which human decisions should be outsourced to AI, according to a poll by business software company Board Intelligence.

 

Financial Times

Elon Musk's assets in the Middle East may be at risk amid threats from Iran's military, according to state media. The Fars News Agency has reported that the use of Musk's Starlink internet platform and the X social media service by US and Israeli forces justifies the targeting of his facilities. An unnamed source claimed that Musk's companies are involved in US military operations, including alleged war crimes in Iran. The Islamic Republic has said it reserves the right to strike Musk-affiliated sites across the region, including Starlink stations in several Arab countries. Meanwhile, Musk's company SpaceX has become an increasingly important contractor for the US military and intelligence community through its Starshield program.

 

CNBC

Forbes