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The world's central banks are wary of artificial intelligence amid concern that AI-driven behaviour could "accelerate future crises," according to a survey by the Official Monetary and Financial Institutions Forum. "AI helps us see more, but decisions must remain with people," one participant was quoted as saying in the report from a working group of 10 central banks from Europe, Africa, Latin America and Asia managing roughly $6.5trn. More than 60% of respondents said that AI tools are not yet supporting core operations. although most central banks are using AI mainly for basic work, such as summarising data or scanning markets. "Most early applications centred on routine analytical tasks rather than risk management or portfolio construction," the report said.

 

Barron's

Reuters

CIOs Face Rising Pressure on AI

A new white paper from ServiceNow highlights how AI adoption is racing ahead of enterprise readiness, leaving UK CIOs under growing pressure to show meaningful transformation. With boards expecting rapid progress and clear risk mitigation, many leaders are struggling to bridge the gap between experimentation and enterprise-scale impact. The report outlines how AI agents can help CIOs respond to C-suite demands, streamline decision-making, and deliver measurable value without exposing the business to unnecessary risk. It offers a practical look at what the board wants, where organisations are falling behind, and how CIOs can regain control of their AI agenda.
Download the guide

 

German insurance giant Allianz has announced potential job cuts due to its integration of artificial intelligence. The company’s subsidiary, Allianz Partners, indicated that up to 1,800 roles, primarily in call centres, could be eliminated over the next 12 to 18 months. This represents about 8% of its 22,600 employees across Germany, France, Spain, and Britain. Allianz Partners said it is "leveraging AI" to enhance services, which may affect positions reliant on manual processes. Discussions with staff representatives are still in early stages, according to sources.

 

France 24

Hydrogen Ukraine has opened a new office in London to enhance collaboration with global partners in the hydrogen and renewable energy sectors. The office will support the InnovateUkraine programme and facilitate project coordination and international outreach. Launched in 2020, Hydrogen Ukraine focuses on developing green hydrogen projects, including the 100-MW Odesa Hydrogen Valley and Zakarpattia Hydrogen Valley. The company recently completed a techno-economic study for a hydrogen transmission pipeline between Reni, Ukraine, and Galati, Romania, marking progress in integrating Ukraine's hydrogen production into the European network.

 

Renewables Now

Klarna is launching a payment stablecoin, becoming the latest fintech to bet that the digital tokens will reshape cross-border payments. The token, called KlarnaUSD, is currently in testing and will be available on the mainnet in 2026, and will be fully backed by the US dollar. The stablecoin will run on Tempo, a payments-focused blockchain developed by Stripe and crypto investment firm Paradigm.

 

Financial Times

Reuters

Volkswagen has suffered a dramatic slowdown in the number of workers agreeing to quit at its German sites as the carmaker attempts a sweeping cost-cutting plan, the Financial Times reports.

 

Financial Times

Puma shares surged almost 14% in early Frankfurt trading yesterday morning, following a Bloomberg report of potential takeover interest from Anta Sports of China. Other potential bidders could include Chinese apparel firm Li Ning and Japan’s Asics. Hong Kong-listed Anta has reportedly been working with an adviser to evaluate a bid for Puma, potentially adding it to a portfolio that includes such brands as Fila and Jack Wolfskin. Puma has been working in recent years to turn around its fortunes, including with the appointment of Arth Hoeld as chief executive and ex-Adidas executive Andreas Hubert as chief operating officer. Last year, it generated €281.6m ($326.1m) in net income and €8.8bn in sales.

 

Bloomberg

Reuters

Wall Street Journal

Southern Water CEO Lawrence Gosden was detained by activists from the Citizen’s Arrest Network in London on Tuesday. They accused him of causing "environmental disasters", and presented police with what they said was evidence of alleged public nuisance crimes. Southern Water, along with Thames Water and Yorkshire Water, were responsible for 80% of serious pollution incidents in 2024. Citizen’s Arrest Network, an environmental group that claims to “[hold] those making the decisions that cause the worst environmental pollution to account,” has previously attempted similar arrests of other water company executives.

 

The Times

European Union member states won't force global tech companies such as Google and Meta to identify and remove online child sexual abuse. Reuters says the position represents a victory for the companies and for anti-surveillance activists who had argued that draft online child protection rules threaten privacy, and is part of a wider pushback against regulation led by U.S. President Donald Trump.  Online providers will be required  to assess the risk of their services being used to disseminate child sexual abuse material and take preventative measures, but the European Council left enforcement up to national governments. EU member states will now have to thrash out details of the draft rules with EU lawmakers before the legislation can be passed. An EU Centre on Child Sexual Abuse will be set up to help countries comply and provide assistance for victims.

 

Reuters

Telecompaper

Poland’s antitrust regulator UOKiK has launched an investigation into whether Apple’s App Tracking Transparency (ATT) privacy framework unfairly restricts competition in the mobile advertising market. The agency suspects that ATT, introduced in iOS 14.5, limits third-party apps’ ability to collect user data for personalised ads while potentially giving Apple’s own advertising services an advantage, and may mislead users about the true level of privacy protection. If the claims are confirmed, Apple could face fines of up to 10% of its Polish revenue.

 

Reuters

The European Central Bank (ECB) has urged euro zone banks with major U.S. dollar operations to increase liquidity and capital buffers due to potential dollar volatility linked to US President Donald Trump's policies. In its Financial Stability Review, the ECB warned that banks should prepare for higher risk, advising, “Capital headroom could be needed to absorb . . . higher currency volatility.” It flagged the risk of losing access to dollar liquidity through tools like repos and swaps. While ECB Vice President Luis de Guindos downplayed immediate threats, the central bank emphasized the need for resilience among banks including BNP Paribas and Deutsche Bank.

 

Reuters

UK retail confidence has dropped sharply, reaching its lowest point since 2008, according to Confederation of British Industry (CBI) analysis. The CBI's quarterly measure of business sentiment for the next three months fell to -35 from -10 in August. Retailers anticipate subdued demand as they prepare for a challenging December, with sales expected to decline further.

 

The Daily Telegraph

Reuters

The Times

Japanese beverage giant Asahi Group has reported that 1.91m sets of personal information were compromised in the recent cyberattack that saw it suspend shipments to distributors and retailers, with 1.52m sets belonging to the company's customers. In a statement on its investigation into the ransomware attack, which the hacker group Qilin has claimed responsibility for, Asahi said that it has not confirmed any evidence of the data being released and that the impact of the attack is limited to systems managed in Japan. President and chief executive Atshushi Katsuki said the company plans to resume placing and taking orders through its system in early December, aiming to fully restore its logistics operations by February 2026. The company will take recurrence prevention measures such as tightening access restrictions and improving the accuracy of its cyberattack detection. 

 

BBC News

Nippon.com

Reuters

South China Morning Post

The UK government has reversed its manifesto pledge to give workers protection from unfair dismissal from their first day in a job. Instead, the right will apply after six months, following pressure from business groups and opposition in the House of Lords. Ministers said the change was necessary to prevent delays to the wider Employment Rights Bill. While the Trades Union Congress welcomed the news, Unite questioned the decision, saying the Bill was now a "shell of its former self."

 

BBC News

Financial Times

Daily Express

The Standard

Workers at Swatch stores in Türkiye have ended a two-week strike after securing significant pay increases and improved working conditions. The local union, Koop-Iş, reported that the workers sought a pay deal reflecting the nearly 33% inflation rate in Türkiye. They were dissatisfied with Swatch's initial offer of a 25% pay rise for shop workers and smaller increases for office staff. Eyup Alemdar, Chairperson of Koop-Iş, said: "The struggle was never a lonely one. We stood shoulder to shoulder until our members got what they deserved." The exact wage increase details were not disclosed.

 

Daily Sabah