UK financial system exposed to ‘serious harm’ from AI risks Tech The Treasury, the financial watchdog and the Bank of England have been handed a stiff warning that the nation’s financial system is not adequately prepared for an AI shock. A group of influential MPs sat on the Treasury Select Committee took aim at the institutions for “not doing enough to manage the risks presented by [...]
AWS outage: Amazon says recovery is underway Tech A swathe of apps and online services went down on Monday morning, including Zoom, Slack and Coinbase. This follows a global Amazon Web Services (AWS) outage, with knock on effects hitting millions of users of thousands of apps and websites. Amazon has said that services are “seeing significant signs of recovery”, with Lloyds Bank saying [...]
UK Treasury questions OpenAI, Microsoft, Meta over AI in financial services Tech The Treasury Committee has sent letters to six major technology firms, including OpenAI, Microsoft, Meta, and Amazon, seeking detailed information about the role they play in providing AI services to the UK financial sector. The correspondence is part of the Committee’s inquiry into AI in financial services, ahead of forthcoming sessions with regulators and HM [...]
Revealed: How much profit Amazon makes in the UK September 10, 2025 Amazon’s UK profit has been revealed – with the total estimated to be well above the £500m mark. Unusually, Jeff Bezos’ empire doesn’t file a single set of group accounts for its UK activities, instead choosing to report each company’s results separately with no parent entity in this country. The picture is also further complicated [...]
AWS pushes UK chip plans amid AI energy crunch May 8, 2025 Amazon Web Services (AWS) has defended the environmental and economic rationale behind its push into custom silicon and AI infrastructure, amid increasing scrutiny over the carbon footprint and power demands of hyperscale cloud providers. Speaking at the AWS summit in London, Dave Brown, vice president of compute and networking at AWS, highlighted the firm’s investment [...]
Amazon Web Services plots £8bn investment in UK data centres September 11, 2024 Amazon Web Services (AWS) is planning to invest £8bn to build, maintain and operate a number of data centres in the UK over the next five years. The tech giant’s cloud division estimates the cash injection will contribute £14bn to the UK’s total gross domestic product (GDP) through to 2028, and will support an average [...]
Lloyds Bank hires Amazon Web Services exec for first new AI director role August 5, 2024 Like many other businesses, banks are looking to use AI to improve stagnant productivity growth and cut costs.