UK banks leading European counterparts in tech readiness, new research reveals June 21, 2023 UK banks are leading against European rivals in their preparation for new technologies but still have much further to go to secure global leadership, new research shows. A new study from IT and consultancy firm Accenture – shared exclusively with City A.M. – shows that around a third of UK bank board members have technology [...]
We can’t base artificial intelligence laws off of the risks we only imagine to be real June 21, 2023 We’ve heard endless calls to ‘do something’ on artificial intelligence, but politicians are still basing their thinking on the risks they assume to be real, not the ones we know about, writes James Boyd-Wallis. Last week, Rishi Sunak said he wants to balance safety and innovation to realise the potential of artificial intelligence. But to [...]
Hunt to discuss support with mortgage lenders as repayments crisis looms June 20, 2023 Chancellor Jeremy Hunt is set to meet with mortgage lenders to discuss support for homeowners as a repayments crisis looms. Various calls have been made for the government to step in to help struggling borrowers – but Hunt said ministers would not provide financial support which would fuel inflation. Average costs for a two-year fixed-rate [...]
Andreessen Horowitz leads $19m injection into London ‘voice AI’ firm June 20, 2023 Heavyweight Silicon Valley investor Andreessen Horowitz (a16z) has led a $19m funding injection into London-based AI firm ElevenLabs to help accelerate a new wave of “voice AI research”, the firm announced today.
Mel Stride urges Johnson and cabinet to ‘row together’ and end hostilities after vote June 20, 2023 Work and Pensions Secretary Mel Stride expressed hope that Boris Johnson and the Cabinet can now “row together” and end the hostilities. Mr Stride told Times Radio he backed the Privileges Committee’s findings that the former prime minister lied to MPs but said he felt “quite uneasy” with the 90-day suspension recommended so decided to [...]
Gove warns against prioritising quantity over quality of new homes June 20, 2023 Michael Gove has warned against a “dash for quantity” as he faces calls to accelerate housebuilding in the UK and enable more first-time buyers to get on the property ladder. Backing a new tool by Policy Exchange to instil confidence in the planning process, the housing secretary said: “If we think of housing purely in [...]
MPs vote to sanction Boris Johnson after ‘damning’ privileges committee report June 19, 2023 Boris Johnson will no longer have a pass to Parliament after MPs voted to back sanctions against him in the apparent final chapter of his parliamentary career. Watched over by Sir Ian McKellen, MPs debated the privileges committee report which ruled the former prime minister had “deliberately misled” and committed “serious contempt”. It followed an [...]
Explainer-in-brief: Can Keir Starmer cut planning times for onshore wind? June 19, 2023 Will scrapping the onshore wind veto help achieve Starmer's dream of the UK as an 'energy superpower'?
Sunak piles pressure on private sector to invest in war-torn Ukraine economy June 19, 2023 The Prime Minister Rishi Sunak is set to pile pressure on UK firms to invest in the Ukrainian war effort this week as Kyiv mounts its own charm offensive on the private sector globally.
Rishi Sunak rules out help for homeowners as mortgage rates top six per cent June 19, 2023 Prime Minister Rishi Sunak today ruled out helping struggling mortgage holders despite rates breaching the six per cent mark for the first time since December. Amid surging mortgage rates, the Prime Minister said the government needed to “stick to the plan” to halve inflation rather than offer support to mortgage holders. Speaking on ITV’s Good [...]