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Prime minister says he has ‘concerns’ about one of most significant overhauls of Keir Starmer’s governmentUK politics live – latest updatesAndy Burnham has indicated he will scrap plans to curtail jury trials in England and Wales, abandoning one of the most significant overhauls of Keir Starmer’s government.The prime minister said he had “concerns” about the proposals and that his “instincts” were to keep juries at the heart of the justice system. Continue reading...

• South Korea is implementing new curbs on leveraged financial products to stabilize markets following a massive stock wipeout totaling over $2 trillion. • Analysts warn that these regulatory efforts may be insufficient to quell skyrocketing volatility and address the growing public anger among devastated investors. • The crisis stems from a sharp reversal of what was previously the world's "hottest trade," leading to severe financial losses across the region.

• South Korea is implementing additional measures to stabilize its stock market and restrict retail investor access to leveraged exchange-traded funds (ETFs). • The decision follows a severe market rout that resulted in the loss of billions of dollars in investor holdings. • The policy shift was announced late Wednesday following an emergency meeting led by Finance Minister Koo Yun Cheol and top financial authorities.

• The "Money Out of Politics" proposal has been introduced in Michigan to implement comprehensive campaign finance reform. • The initiative aims to curb the influence of "dark money" and increase financial transparency to protect the integrity of the democratic process. • This effort matters as it seeks to reduce the impact of undisclosed donors on local and state elections.

• Nvidia, Microsoft, Meta, and 22 other tech firms are opposing early government restrictions on open-weight AI models to protect competition and innovation. • The companies argue that limiting open-weight access would stifle development and hinder the ability of smaller players to compete in the AI landscape. • Separately, White House advisor Michael Kratsios highlighted a potential intellectual property issue involving Moonshot AI's Kimi K3 model.

New national plan accompanied by Labor push for digital duty of care legislationGet our breaking news email, free app or daily news podcastThe use of AI in automated decision-making by government departments and agencies will be subject to tough rules under a new national plan, expected to extend to consumer protections, workplace safety and privacy.As the Albanese government grapples with the rapid growth in the use of artificial intelligence and a boom in datacentre construction, senior ministers have begun work to draw up new rules to ensure safety is built into AI processes inside government, prioritising fairness, accuracy and transparency. Continue reading...

• President Xi Jinping called for increased global cooperation and governance of artificial intelligence during a conference in Shanghai, promising Chinese support for other nations. • The move is seen as a strategic response to the U.S.-led Pax Silica initiative, which aims to secure AI supply chains among allies including Japan, the U.K., Australia, and India. • Xi criticized U.S. restrictions on technology sharing, highlighting the tension between the two superpowers over tech dominance and security.

• Chinese President Xi Jinping has called for increased global cooperation in artificial intelligence, pledging to provide 5,000 AI training opportunities to developing countries over the next five years. • China aims to expand AI partnerships with major international blocs, including ASEAN, the African Union, the BRICS countries, and the Shanghai Cooperation Organization. • This diplomatic push comes as U.S.-led restrictions continue to block China's access to advanced technologies, forcing the nation to accelerate its own domestic tech development.

• On July 15, the KOSPI surged 6.24%, triggering a buy-side circuit breaker and a temporary program trading halt due to the rapid market climb. • The rally was led by semiconductor stocks, with SK Hynix jumping nearly 9%, while Samsung Electronics and Kioxia both rose by approximately 6%. • This surge was driven by lower-than-expected U.S. June CPI data, which reduced investor concerns regarding potential Federal Reserve rate hikes.

• The European Union has banned the import of gold from Sudan to disrupt the financing of the ongoing conflict between the regular army and the paramilitary Rapid Support Forces (RSF). • To further cripple mining operations, the EU is also restricting the export of cyanide and mercury, chemicals essential for gold extraction. • This measure addresses a severe humanitarian crisis that has already displaced more than 14 million people within the country.

• Senator Lindsey Graham has maintained a 23-year career in the U.S. Senate defined by a hawkish foreign policy focused on curbing Russia, supporting Israel, and seeking regime change in Iran. • While consistent on security issues, Graham is noted for his political adaptability, shifting his stance to align with the changing political climate during Donald Trump's rise to power. • Early in his tenure after being elected in 2002, Graham established a significant political partnership with the late Senator John McCain, known for his conservative yet independent approach.

• Chinese authorities have held meetings with leading tech firms over the past month to discuss restricting foreign access to the country's most advanced AI models, including those not yet released. • The move follows public concerns from state media and Zhou Hongyi, founder of cybersecurity firm 360, who argues that China must develop its own unique "Mythos" for AI. • This potential restriction reflects Beijing's growing desire to protect domestic technological sovereignty and prevent strategic AI capabilities from being utilized by overseas competitors.

• Beijing is considering implementing restrictions to curb overseas access to China's most advanced artificial intelligence models. • The move follows public concerns voiced by state media and Zhou Hongyi, the founder of cybersecurity firm 360 Security Technology. • This shift highlights a strategic push for China to develop its own independent "Mythos" and technological ecosystem to reduce external dependencies.

• The Chinese government is reportedly considering restrictions on overseas access to advanced AI models developed by domestic tech giants like Alibaba and ByteDance. • This move treats frontier AI software as a critical national asset, echoing concerns from state media and cybersecurity expert Zhou Hongyi regarding the need for a domestic "Mythos." • Such curbs could disrupt global tech markets by increasing costs and limiting the availability of high-performance AI tools outside of China.

• US lawmakers are considering new restrictions to limit the adoption of Chinese-developed artificial intelligence models by American companies. • The House Committee on Homeland Security and the Select Committee on China launched a joint investigation in April to assess the risks of this tech integration. • As part of the probe, legislators have contacted firms such as Airbnb and Cursor to determine their level of exposure to Chinese-built AI systems.

• Beijing is considering new restrictions to curb overseas access to China's most advanced AI models, according to internal sources. • The move follows a series of steps by the Chinese government to treat cutting-edge AI as a critical national asset that requires strict domestic controls. • These efforts align with concerns from state media and Zhou Hongyi, founder of cybersecurity firm 360, who advocates for China to develop its own "Mythos."

• Beijing is reportedly considering new restrictions to curb overseas access to China's most advanced artificial intelligence models. • The move aims to tighten control over how domestic AI technology is utilized and distributed globally. • These limitations could disrupt international AI markets and significantly increase operational costs for businesses relying on Chinese models.

• South Korea is amending its communications act to implement stricter regulations and clamp down on individuals and entities spreading false information online. • The move aims to curb the proliferation of "fake news," though critics argue the legislation could threaten freedom of speech and press liberties. • This shift is significant as South Korea has maintained one of Asia’s most open media landscapes since transitioning from authoritarian rule in the late 1980s.

• Beijing is considering new restrictions to curb overseas access to China's most advanced artificial intelligence models. • The move treats high-end AI as a strategic national asset, reflecting a broader effort to ensure homegrown technology remains within the country. • These discussions align with public concerns from state media and Zhou Hongyi, founder of cybersecurity firm 360, who advocates for China to develop its own "Mythos."

• Chinese authorities have spent the past month holding discussions with the nation's largest technology companies regarding restrictions on overseas access to advanced AI models. • The proposed curbs would target both currently available and unreleased AI models to prevent foreign entities from utilizing China's most sophisticated technology. • This move highlights the growing tension between global AI competition and national security concerns as China seeks to protect its proprietary technological advancements.

• China has implemented sweeping new regulations to tighten the scrutiny of overseas investments, with the framework officially taking effect this Wednesday. • The move comes as a strategic response to intensifying technological competition and rivalry with the United States, specifically regarding artificial intelligence and semiconductor chip technology. • These curbs aim to protect national security and maintain control over critical tech sectors by limiting the flow of capital and intellectual property.

Nearly 100 academy chief executives earn more than £200,000 a year, and at least one more than £500,000The era of academy school leaders in England receiving “banker-style salaries” and hefty annual increases may soon be over, with the government to introduce limits on executive pay.Nearly 100 academy chief executives earn more than £200,000 a year, with pay in academy trusts equating to anything from less than £5 a pupil to more than £150. Only a quarter of the high-earners were women. Continue reading...

Parcels of goods worth under €150 will no longer enjoy ‘de minimis’ exemption, exploited by platforms such as Temu and SheinBusiness live – latest updatesThe European Commission has said it hopes to prevent the “desertification” of Europe’s high streets, as it prepares to introduce a customs tax on small parcels in an attempt to curb cheap Chinese imports.Consumers have been able to buy up to €150 (£129) worth of goods, including fast fashion, cosmetics and toys, without any customs charges as part of a “de minimis” exemption, a tariff break meaning “too small to matter”. Continue reading...

Quarterly Ofgem price cap rises to equivalent of £1,862 a year from 1 July amid growing consumer energy debtMinisters are facing growing pressure to lower energy costs as households in Great Britain face the steepest rise in summer bills in four years this week.The quarterly cap on gas and electricity charges will rise by 13% from Wednesday to the equivalent of £1,862 a year for an average household, just days after figures revealed that consumer energy debt had reached fresh record highs. Continue reading...

• European companies, including Siemens, Renault, and Orange, are diversifying their AI strategies by integrating models from the US, China, and Europe. • This shift follows export restrictions imposed by US-based Anthropic, which highlighted the vulnerability of relying on remote proprietary services. • The move aims to mitigate strategic risks and avoid over-dependence on a single foreign provider or region for critical AI infrastructure.

• U.S. government restrictions on AI services are forcing major European companies to diversify their providers to mitigate operational risks. • Specifically, San Francisco-based Anthropic was ordered to suspend access to its Fable 5 and Mythos 5 models for foreign nationals due to national security concerns. • This shift highlights a growing vulnerability for European firms relying on American technology and underscores the urgent need for domestic AI alternatives.

• U.S. government restrictions on access to certain artificial intelligence services are forcing major European companies to diversify their technology providers. • These curbs, which include orders affecting San Francisco-based AI firms, are driving a strategic shift to avoid over-reliance on a single American source. • The situation underscores a critical need for the development of domestic European AI alternatives to ensure technological sovereignty and operational stability.

• India's strategy to become a global AI powerhouse by building applications on top of foreign foundational models is facing significant challenges. • The country currently struggles with a lack of sovereign computing power and insufficient available capital to scale its AI infrastructure. • Critics argue that current efforts to curb dependence on foreign models, such as those from Anthropic, are "too slow" and "way too small" to be effective.