US lawmakers split over support for ‘Basel III endgame’ rules for banks
Republicans sympathise with Wall Street executives’ concerns while Democrats downplay effect on lending
Financial & markets regulation
Meta’s platforms were ‘prime locations for predators’, lawsuit alleges
US state of New Mexico targets Instagram and Facebook parent amid growing concern about safety of younger users
Social Media
Google’s ‘Gemini’ makes mobile breakthrough for generative AI
Tech company launches new advanced models that can be run through mobile phones and vastly reduce computing costs
Artificial intelligence
BlackRock to roll out first generative AI tools to clients next month
World’s largest money manager aims to gain an edge over rivals in race to harness emerging technology
Fintech, Artificial intelligence
Bank of England warns about risks in private credit and leveraged lending
Sectors remain vulnerable to ‘sharp revaluations’, says BoE’s financial stability watchdog
Central banks
UK watchdog bans adverts by three airlines over ‘misleading’ environmental claims
Ads on Google by Air France, Lufthansa and Etihad found to have breached advertising code
Advertising
EU offers battery makers €3bn to jump start electric vehicle industry
Subsidy is part of a deal with the UK to postpone tariffs on EV trade
Electric vehicles, Batteries
The Lex Newsletter: Amazon battles Shein’s shoo-in potential
China’s fast-fashion upstart brazenly parks itself on US ecommerce rival’s turf ahead of blockbuster listing
Ecommerce
Investors bet on rapid ECB rate cuts as economic outlook darkens
Markets are pricing in six rate reductions in the eurozone next year
Central banks
Coventry bid for Co-op Bank could return lender to mutual ownership
Private equity-owned lender receives non-binding bid from UK’s third-largest building society
Mergers & Acquisitions