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Economy

Generative AI a stumbling block in EU legislation talks -sources

Technology leaders attend a generative AI (Artificial Intelligence) meeting in San Francisco as the city is trying to position itself as the “AI capital of the world”, in California, U.S., June 29, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsSTOCKHOLM/BRUSSELS/LONDON, Dec 1 (Reuters) - EU lawmakers cannot agree on how to regulate systems like ChatGPT, in a threat to landmark legislation aimed at keeping artificial intelligence (AI) in check, six sources told Reuters.As negotiators meet on Friday for crucial discussions ahead of final talks scheduled for Dec. 6, 'foundation models', or...
Economy

Yellen says US economy does not need drastic tightening, ‘soft landing’ on track

U.S. Treasury Secretary Janet Yellen attends a press conference in San Francisco, California, U.S., November 10, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBESSEMER CITY, North Carolina, Nov 30 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Thursday she believes the U.S. economy does not need further drastic monetary policy tightening to stamp out inflationary expectations and was on track to achieve a "soft landing" with strong employment.Yellen told reporters after a speech at a lithium processing plant in North Carolina that in the past, the Federal Reserve sometimes had...
Cryptocurrency

New crypto front emerges in Israel’s militant financing fight

LONDON, Nov 27 (Reuters) - A new front has emerged in Israel's fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron.Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organizations by Israel, the United States and other countries, according to interviews with seven financial crime experts and blockchain investigations specialists.A Reuters' analysis of crypto seizures announced by Israeli security services since 2021 reflects the trend,...
Banking

EU mulls wider scope for cybersecurity certification scheme – paper

European Union flags fly outside the European Commission in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBRUSSELS, Nov 23 (Reuters) - The European Union is considering broadening the scope of proposed cybersecurity labelling rules that would affect not just Amazon (AMZN.O), Alphabet's (GOOGL.O) Google and Microsoft (MSFT.O) but also banks and airlines, according to the latest draft of the rules.The EU move to set up such a system comes as Big Tech looks to the government cloud market to drive growth in the coming years while a...
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