Big Tech races to give generative AI a central place
Apple, Amazon and Meta seek to incorporate machine learning into their operationsSocial Media, Artificial intelligence
Kering buys 30% stake in Valentino from Qatari fund
French luxury group has option to buy full control of Italian fashion house within 5 yearsLuxury goods
St James’s Place: pall of duty clouds outlook for City’s top wealth manager
A little lightweight plucking is already under way on product management feesFinancial & markets regulation
Regulators announce ‘Basel III endgame’ rules for large US banks
New framework could cost the country’s six biggest lenders billions of dollars collectivelyFinancial & markets regulation
ECB raises interest rates back to highest-ever level
Ninth consecutive increase comes as central bank warns prices are still rising too fastCentral banks
The White House’s war on methane
Also in today’s newsletter, IRA lures European solar manufacturer to new US facility over German expansionRenewable energy
Running a bank is more of a high-wire act than ever
The NatWest-Farage row shows political intervention will continue until banking governance becomes more muscularFinancial & markets regulation
ITV looks to sell more content to US if Hollywood strikes continue
Media group going through the ‘worst advertising recession’ since the financial crisis Advertising
Meta: $88bn asset stack sets vast payback challenge
Efforts to monetise VR have been poor and there is no timeline for breaking evenSocial Media
Emerging market bonds: peers show Powell better turn of speed
Investors have started taking note of the best-performing fixed income investments so far this yearCentral banks