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UK’s state investments agency hit by data breach
Security lapse leaves sensitive information and contact details of 51 government officials exposed for 40 hours The public body in charge of the UK’s state investments has been pushed to improve its internal security after a data breach left “high-level management information” publicly accessible for nearly two days. UK Government Investments (UKGI), the agency that…
Global finance watchdog warns over private credit industry fuelling AI boom
Financial Stability Board report reveals tech, healthcare and services sectors as the biggest borrowers The private credit industry’s role in fuelling the AI boom could backfire, with a sharp correction leading to “sizeable” losses, the Financial Stability Board has warned. A new report on private credit by the global watchdog, which monitors financial authorities including…
Revolut warns it risks backlash over support for energy-intensive AI and crypto
Fintech company’s profits leap to £1.7bn as it gears up for US push after getting UK banking licence this month Business live – latest updates The UK banking app Revolut has said it could face a backlash over its support for energy-intensive sectors such as crypto and AI, as it posted a 57% increase in…
Women in tech and finance at higher risk from AI job losses, report says
‘Mid-career’ female workers also being sidelined by rigid hiring processes, says City of London Corporation Women working in tech and financial services are at greater risk of losing their jobs to increased use of AI and automation than their male peers, according to a report that found experienced females were also being sidelined as a…
UK accounting body to halt remote exams amid AI cheating
Candidates will have to sit assessments in person unless there are exceptional circumstances, says ACCA Business live – latest updates The world’s largest accounting body is to stop students being allowed to take exams remotely to crack down on a rise in cheating on tests that underpin professional qualifications. The Association of Chartered Certified Accountants…
Crypto market sheds more than $1tn in six weeks amid fears of tech bubble
Bitcoin price at lowest level since April while FTSE 100 falls as Google boss warns there is ‘irrationality’ in AI boom Business live – latest updates More than $1tn (£760bn) has been wiped off the value of the cryptocurrency market in the past six weeks amid fears of a tech bubble and fading expectations for…
UK consumers warned over AI chatbots giving inaccurate financial advice
Which? study of ChatGPT, Copilot and others uncovers incorrect and misleading tips on investments, tax and insurance Artificial intelligence chatbots are giving inaccurate money tips, offering British consumers misleading tax advice and suggesting they buy unnecessary travel insurance, research has revealed. Tests on the most popular chatbots found Microsoft’s Copilot and ChatGPT advised breaking HMRC…