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AI & Enterprise

European AI firms warn slowing frontier AI would cement U.S. lead, push back on calls for brakes

Major European AI companies are pushing back against calls from leading U.S. labs to slow frontier AI development, saying it could hinder competition and cement a U.S. lead. They warn new evaluation rules and cooperation frameworks could raise costs for smaller European developers. The debate comes as Europe trails the United States and China in AI investment, computing infrastructure and top model performance, even as some European countries show higher generative AI use.

Finance

ECB raises deposit rate to 2.5 percent as oil tops $100 a barrel

The European Central Bank raised its benchmark deposit rate to 2.5 percent, citing a surge in energy prices tied to Middle East conflict and concern inflation will stay high for longer. The ECB also lifted its main refinancing rate to 2.65 percent and the marginal lending facility to 2.90 percent from Sept. 16. It nudged up its 2026 euro zone growth forecast and warned of second-round effects from energy to broader prices.

AI & Enterprise

Central banks warn of financial risks from agentic AI

European central banks and financial regulators warned that agentic artificial intelligence could increase volatility during periods of financial market stress and urged safeguards. They also said existing regulatory frameworks struggle to keep pace with rapid advances in AI. Bank of England Deputy Governor Sarah Breeden raised the need for mechanisms to limit or halt trading if flawed models trigger a market collapse. European Central Bank President Christine Lagarde cited growing cyber and data risks.