Markets Insider (October 16)
SEC Chair Gary Gensler “has warned that AI could trigger a financial crisis, as Wall Street rushes to adopt the new technology.” He is calling for “AI regulation that addresses both the underlying AI models built by tech companies and how they are used by Wall Street banks, describing it as a ‘cross-regulatory challenge.’”
Tags: Adopt, AI, Banks, Chair, Financial Crisis, Gensler, Models, New technology, Regulation, Rushes, SEC, Trigger, Wall Street, Warned
BBC (November 3)
“The Bank of England has warned the UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years,” indicating that “the UK would face a ‘very challenging’ two-year slump with unemployment nearly doubling by 2025.” The BoE’s forecast paints “a picture of a painful economic period, with the UK performing worse than the US and the Eurozone.”
Tags: 2025, BOE, Challenging, Doubling, Forecast, Interest rates, Longest, Painful, Recession, Records, Slump, U.S., UK, Unemployment, Warned, Worse
Wall Street Journal (September 6)
Numerous states have warned the “Big Three” asset managers (BlackRock, Vanguard and State Street) that their ESG policies appear to run counter to “the sole interest rule, a well-established legal principle. The sole interest rule requires investment fiduciaries to act to maximize financial returns, not to promote social or political objectives.”
Tags: “Big Three”, Asset managers, BlackRock, ESG, Fiduciaries, Financial returns, Investment, Maximize, Political, Social, Sole interest rule, State Street, States, U.S., Vanguard, Warned
Financial Times (October 8)
“High levels of inflation could last longer than expected, senior central bankers in Europe have warned, signalling that persistent supply-chain bottlenecks and soaring energy costs could advance a tightening of monetary policy.”
Tags: Bottlenecks, Central bankers, Energy costs, Europe, Expected, Inflation, Persistent, Supply chain, Tightening, Warned
