UK

The U.K. unveiled its five key objectives for the upcoming global Artificial Intelligence (AI) Safety Summit scheduled for Nov. 1-2 at Bletchley Park. The summit will bring together prominent figures from various domains, including academia, politics and major tech companies to establish a...

Barclays PLC (NYSE: BCS) is reportedly mulling the sale of a stake in the U.K. merchants' payment processing unit as the bank is seeking a partner to boost the business. The business could be worth at least £2 billion ($2.5 billion), based on an EBITDA of about £300...

For the first time, the U.K. Parliament has referred to Taiwan as an “independent country” in an official document, Politico reported. The statement has been made during Foreign Secretary James Cleverly’s visit to China. The language was adopted in a report by...

Amidst the hustle and bustle of modern life, some find solace in the untouched corners of nature. Simon Parker, once an aircraft engineer with the Royal Air Force, is one such individual. He discovered a haven on Flat Holm, a remote island near Wales, where he not only oversees its conservation but...

The UK's Financial Conduct Authority (FCA) has unveiled its stringent vetting results for crypto asset businesses, revealing a mere 13% approval rate. This data, stemming from the introduction of the 5th Anti-Money Laundering Directive (5MLD) in January 2020, highlights the challenges faced by...

Worldcoin, a cryptocurrency initiative known for its iris-scanning feature, introduced a new option allowing unverified users to reserve their Worldcoin (CRYPTO: WLD) tokens. What Happened: On Aug. 11, Worldcoin revealed that its World App incorporated a reservation function,...

HSBC’s head of public affairs, Sir Sherard Cowper-Coles, apologized for criticizing U.K.’s compliance with U.S.-China business restrictions, BBC reports. Cowper-Coles had accused the British government of being “weak” for complying with U.S. demands to cut back business...

The UK and the EU are charging forward in planning a single Consolidated Tape (CT) for each asset class in their respective region. The British and the Europeans are reckoning that the US’s Decentralized Consolidated Model (DCM) under Market Data Infrastructure Rule (MDIR) is impractical....

The weight-loss drug Ozempic, popularized in the U.S. by celebrities such as Kim Kardashian and Chelsea Handler, is being eyed with concern in the U.K. due to its off-label use and potential side effects, iNews reports. Off-Label Use and Potential UK Impact The surge in Ozempic’s popularity...

By the close of this decade, as many as 15 central bank digital currencies (CBDCs) might be operational worldwide, according to a survey conducted by the Bank for International Settlements (BIS). The Switzerland-based institution, which is under the ownership of 63 central banks accounting...

As Vladimir Putin's invasion of Ukraine continues to escalate, there is a growing debate about the legitimacy of Kyiv's actions against Moscow. The Western allies have expressed mixed responses, with the U.S. opposing counterattacks in Russian cities, while the U.K. and Germany support Ukraine...

SEC Commissioner Hester Peirce cited the European Union's (EU) recently implemented Markets in Crypto Assets (MiCA) regulation as a potential blueprint for U.S. cryptocurrency rules. During a panel discussion at the Financial Times Crypto and Digital Assets Summit in London, Peirce acknowledged...

The Financial Conduct Authority (FCA), the U.K.'s financial watchdog, is intensifying its efforts to combat unregistered cryptocurrency ATMs. What Happened: In a statement released on Friday, the FCA reported that it had conducted inspections in Exeter, Nottingham and Sheffield in...

A comprehensive plan to fight fraud has been launched by U.K. Prime Minister Rishi Sunak, with a focus on cold calls being made to sell financial items, including cryptocurrencies. Fraud costs the U.K. almost £7 billion annually and today makes up over 40% of all crimes. The new...

The Bank of England’s chief economist Huw Pill reportedly said people in the U.K. need to accept they are poorer and asked them to stop asking for pay rises that would push prices higher. Pill said a game of "pass the parcel" is taking place in the economy, according to a report by The...