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The Latest Breaking News from FPC

Bank of England says AI software could create market crisis for profit

Concern grows over programs deployed to act with autonomy that may ‘exploit weaknesses’

The Guardian - UK

Trump tariffs threaten global growth and raise risk of ‘severe shocks’, says Bank of England

Levies have heaped pressure on government finances and increased chance of ‘further sharp correction’, report warns

The Guardian - UK

Global stability risks rise as US tariffs could weigh on growth, Bank warns

It follows US President Donald Trump announcing a series of new and higher tariffs on all imports to the US.

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

The 5th Circuit Says the Federal Ban on Handgun Sales to Young Adults Is Unconstitutional

The government failed to persuade the appeals court that 18-to-20-year-olds are not part of "the people" or that the age restriction is consistent with the "historical tradition of firearm regulation."

Reason

Post-Brexit border checks putting food security at risk, produce sellers warn

Importers also facing rising costs, delays and damage to orders, letter from representatives tells government

The Guardian - UK

UK’s post-Brexit checks on fruit and vegetables delayed for a third time

Move comes amid concerns from suppliers that checks on goods coming from EU could lead to higher prices

The Guardian - UK

Firearms Policy Coalition Takes No Prisoners in Sharp Response to Thin-Skinned Maine Governor

Gov. Janet Mills’s office referred critical social media posts to the police. The FPC pushed back.

Reason

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Global wave of elections could hit UK financial system, warns Bank of England

Central bank raises concerns over newly elected governments as more than 80 countries go to polls this year

The Guardian - UK

Mortgage costs to jump for 3m more households, says Bank of England

The central bank stressed that UK lenders are still in a strong position to support households and businesses, even if the economic backdrop worsens.

The Independent UK

Are 25-year UK mortgages a thing of the past?

Younger homebuyers are turning to ultra-long loans, prompting fears over the risk to their finances and the wider economy

The Guardian - UK

Labour to make fighting global heating a priority for Bank of England

Shadow chancellor to use annual Mais lecture to set out plans to green the economy if party wins election

The Guardian - UK

Bank of England governor Andrew Bailey to be grilled on interest rate hikes' threat to UK financial stability

He and other members of the bank’s Financial Policy Committee will face questions from the Commons Treasury Committee

Evening Standard

Bank of England To Assess Risks AI Poses To UK Financial Stability

AI and machine learning have been used across the financial sector for at least a decade, such as to help detect fraud and money laundering.

International Business Times UK

Bank of England warns AI could pose financial stability risks

‘Careful monitoring’ needed because of rapid pace of artificial intelligence and machine learning

The Guardian - UK

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The Hindu

Duo quits high-paying jobs, scripts safe-to-eat veggie farming success

They later formed a 354-member farmer-producer company and a 11-member FIG to increase production of safe-to-eat foods. The FIG produces 400-500 kg of veggies daily from 20 acres, and tests samples to ensure no residues. They use natural alternatives when necessary and plan to open outlets to market farm produce…

The Guardian - UK

Bank of England flags concerns over longer mortgages and rise in credit card use

UK central bank’s financial policy committee says borrowing trends could lead to debt troubles in near future and longer term

Reason

FIRE on the School Restricting "Dont Tread on Me" and Firearms Policy Coalition Patches

From FIRE's letter sent yesterday to the Superintendent of Harrison School District Two in Colorado; I generally trust FIRE's factual accounts in such matters, and I think its legal analysis here is spot on: The Foundation for Individual Rights and Expression (FIRE), a nonpartisan nonprofit dedicated to defending freedom of…

The Independent UK

New Brexit checks will make food price inflation even worse, warns industry

Firms will have to pass on extra costs of red tape, warns Fresh Produce Consortium

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The Guardian - UK

Post-Brexit import checks risk further pushing up food prices – industry group

Traders will not be able to absorb estimated £10m extra cost on goods entering from EU, warns Fresh Produce Consortium

The Hindu

Assam’s Kokrajhar district feasts on mushroom, for health and wealth

Assam gave fungi cultivation an investment boost in 2021, as it introduced mushrooms in the midday meal scheme.

The Guardian - UK

UK judges to be given powers to dismiss oppressive Slapps lawsuits at early stage

Amendments to bill address concerns that strategic lawsuits against public participation stifle free speech

Irish Mirror

Irish community group wins High Court fight over Aughinish Alumina expansion

Futureproof Clare took a judicial review against An Bord Pleanala's greenlight for the expansion

Reason

'Assault Weapon' Bans Look More Legally Vulnerable Than Ever

A preliminary injunction in Illinois may signal the demise of a long-running public policy fraud.

Reason

Washington Is Now the 10th State With a Logically and Constitutionally Dubious 'Assault Weapon' Ban

A federal lawsuit notes that the new law draws arbitrary distinctions and targets guns in common use for legal purposes.

The Guardian - UK

Bank of England calls for tougher pension scheme rules after crisis

Bank wants to avoid repeat of situation that followed Kwasi Kwarteng’s calamitous mini-budget

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