Analysis: AI sell-off leaves markets at a crossroad Markets A rout in AI and tech stocks has wiped trillions off global markets. For City AM’s Midday Markets newsletter, Ali Lyon chews over what it all means. It’s been one of those mornings when analysts have woken up and reached for their morbid bon mots of choice. “Bloodbath” has proven popular. So too, “capitulation-level event” [...]
Tech giants face tougher Ofcom demands after High Court ruling Tech Meta, Tiktok and X will face a tougher battle resisting Ofcom’s demands for online safety data after the High Court ruled that tech giants must provide detailed evidence of compliance costs in order to challenge the regulator’s requests. The judgment, handed down on Friday, strengthens Ofcom’s ability to demand information from social media platforms even [...]
Meta and Tiktok lose High Court battle against Ofcom’s regulatory data demands Legal The High Court has upheld the media watchdog Ofcom’s powers to harvest retroactive safety data from tech giants. In February, Ofcom issued formal information notices to major tech platforms, including Meta, Tiktok, and X, requiring them to share detailed data on content and user exposure to harmful material under the Online Safety Act. Meta, Tiktok, [...]
Millions face ID checks under UK social media ban as Ofcom warns of loopholes October 29, 2026 Millions of British social media users could be forced to verify their age using passports or facial scans under new proposals from Ofcom, as the regulator prepares to enforce the government’s ban on under-16s. The watchdog on Thursday identified four methods it considers sufficiently reliable to determine whether users are aged 16 or over, ahead [...]
Meta unveils $95bn share sale as AI spending drains cash reserves October 26, 2026 Meta has announced plans to raise up to $95bn (£71bn) through share sales to fund its AI expansion, as soaring infrastructure costs put pressure on the Facebook owner’s cash flow. The tech giant said on Monday it would raise $35m through public equity offerings, followed by a further $60bn through a programme allowing it to [...]
Threats to financial system ‘on steroids’ after AI boom, FCA chief warns October 22, 2026 The unchecked rise of artificial intelligence means the level of risk facing the financial system is currently “on steroids”, according to the boss of the Financial Conduct Authority, who warned that excessive “tick-box” rulemaking would fail to keep pace with increasingly complex threats. Speaking at a City of London dinner, Nikil Rathi said risks to [...]
Meta challenges Ofcom in court for ‘acting irrationally’ in fine and fee pricing October 13, 2026 Meta has challenged the UK regulator in court over how it calculates fees and fines under the UK’s online safety law, as it argued the methods are disproportionate and unlawful. The tech giant has questioned the media regulator, Ofcom, over its definition of ‘qualifying worldwide revenue’, which it uses to calculate financial penalties and fees [...]
Meta court battle will not delay Instagram probe, Ofcom says October 6, 2026 Meta’s legal challenge against Ofcom has not delayed the regulator’s separate investigation into Instagram, Ofcom has told City AM. The watchdog said the ongoing English High Court proceedings had “not impacted the timing” of its decision to investigate whether Meta broke UK online safety rules when it launched Instagram Instants. The comments come as Meta, [...]
Lord’s Cricket Ground, West Ham, EY among creditors owed £190m by Brewdog September 24, 2026 Lord’s Cricket Club, West Ham United and Big Four accounting firm EY are among the big-name firms which are owed £190m by Brewdog. The craft beer firm collapsed earlier this year and its administrators have said that its unsecured creditors, who are owed £189.9m, will not be paid back. AlixPartners, Brewdog’s administrators, said there are [...]
Former Labour deputy joins Palantir as tech giant targets UK growth September 18, 2026 Former Labour deputy leader Tom Watson has joined Palantir as a senior vice president as the US tech firm looks to expand its work with the British government while facing mounting scrutiny over its public sector contracts. Watson, who served as an MP for 18 years and held ministerial roles under Gordon Brown, will work [...]