Big Boss Interview

This week the EU votes on ways to regulate AI. Vice-President Margrethe Vestager leads the charge against threats posed by artificial intelligence. She tells the BBC that although the threat of human extinction ”probably does exist”, the likelihood is “quite small”. She says initial threats include discrimination, and criminals getting ahead of the police in understanding AI. This week European politicians debate the issue as they vote on the AI Act. It's the first law for AI systems in the West and it largely categorizes the away AI is used into four levels of risk: unacceptable risk, high risk, limited risk and minimal or no risk. If the legislation passes, unacceptable risk applications would banned by default and will not be deployed in European countries.

U.S inflation has fallen again – but is it enough to prevent an interest rate rise? Inflation was down to 4% in the US at the end of May – its lowest since 2021. Prices for eggs, petrol and furniture were down, helping to cut inflation to less than half of its peak a year ago. But as the U.S central bank prepares to meet later this week, all eyes will be on whether the continued downward trend is enough to persuade the Fed to hold back on further rises to interest rates.

Picture: European Commission Vice President Margrethe Vestager (REUTERS/Johanna Geron)

The U.S watchdog has asked a judge to block a $69 billion bid by Microsoft to buy Activision Blizzard.

The gaming company makes ‘Call of Duty’ and many other titles. But the Federal Trade Commission (FTC) position on the deal is now closer to the that taken by the UK regulator. The issue hangs on claims the sale would give Microsoft's Xbox exclusive access to Activision games, leaving Nintendo consoles and Sony's PlayStation out in the cold.

Also in the U.S, America's biggest bank, JPMorgan Chase, has agreed in principle to settle a class action lawsuit brought on behalf of victims of the convicted sex offender, Jeffrey Epstein. The case was brought by one victim on behalf of hundreds of other women and girls abused by the disgraced financier. The bank is facing a bill of around $290 million.

And – you may have heard of ‘greenwashing’ – but have you heard of the new phrase…green-hushing’? We find out why companies are suddenly starting to keep their green credentials to themselves.