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London launches £30 million plan to prepare workers for AI

London Mayor Sadiq Khan has backed a £30 million programme to help workers and businesses prepare for AI-driven labour market changes, following recommendations from the London AI and Jobs Taskforce.

The taskforce concluded that mass unemployment is not inevitable but warned that governments, employers and educators must act early. It estimated that around 600,000 Londoners work in occupations with high exposure to AI but limited capacity to adapt. Many of these workers are employed in clerical and administrative roles, are disproportionately women and earn below the London average.

Khan accepted three flagship recommendations. A London AI Early Action System would combine labour market data, employer insights and local evidence to identify disruption before it becomes a crisis.

An AI at Work Partnership would bring together employers, workers and educators to redesign jobs, plan workforce transitions and develop new skills.

The London Future Ready Guarantee would connect young people with employers to strengthen skills such as communication, creativity, collaboration, judgement and problem-solving.

The Mayor also announced £18 million for youth employment and careers support alongside £12 million already committed to helping small and medium-sized businesses adopt AI. The latest funding is expected to support around 6,000 young Londoners who are not in education, employment or training.

The taskforce argued that AI-related labour market disruption is more likely to emerge gradually through declining entry-level opportunities and weaker career progression than through sudden waves of redundancies.

It also called for greater devolution of skills funding, employment incentives and AI transition policies to enable London to respond more effectively to local labour market changes.

Why does it matter?

The report shifts attention from the headline question of whether AI will eliminate jobs to the more immediate challenge of how labour markets adapt to technological change. By focusing on early warning systems, workforce planning and skills development, London is treating AI as a long-term governance issue rather than waiting for unemployment figures to reveal problems.

The recommendations also illustrate a broader trend towards place-based AI governance. Rather than relying solely on national policies, cities and regional authorities are increasingly seeking tailored tools to manage AI’s economic and social impacts while ensuring workers, employers, and educators can shape the transition together.

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NVIDIA and Wistron open $700 million AI chip factory in Texas

Wistron has opened a $700 million AI manufacturing facility in Fort Worth, Texas, to produce advanced NVIDIA computing systems, strengthening domestic capacity for the AI infrastructure underpinning large-scale AI.

The 324,000-square-foot facility is Wistron’s first manufacturing facility in the United States. It currently operates one production line for NVIDIA’s GB300 Grace Blackwell Ultra Superchip, with a second line planned for the upcoming Vera Rubin platform.

Wistron expects output to reach tens of thousands of boards per month during 2026. More than 500 jobs have already been created, with the workforce expected to grow to 1,000 by the end of the year.

NVIDIA CEO Jensen Huang described domestic manufacturing as central to rebuilding US industrial capacity, noting the company’s commitment to producing up to US$500 billion worth of advanced AI platforms in the country.

The facility was designed and tested using a digital twin before construction began. Wistron employed NVIDIA’s Omniverse platform together with the Nemotron and Cosmos models, Metropolis libraries and PhysicsNeMo framework to simulate production lines, optimise factory layouts and train workers virtually, allowing engineers to validate assembly processes before physical equipment was installed.

During the opening ceremony, Wistron unveiled the first GB300 Grace Blackwell Ultra Superchip assembled at the site. According to Huang, systems based on the processor contain around 1.5 million components, weigh approximately two tonnes and cost about US$4 million.

The investment is intended to strengthen US supply chains and expand domestic capacity for producing AI infrastructure.

Why does it matter?

The new facility reflects a broader shift in AI policy from focusing primarily on software and models towards strengthening the industrial infrastructure needed to support them. As governments increasingly view AI hardware as a strategic asset, domestic manufacturing capacity is becoming an important component of economic security and technological competitiveness.

The project also illustrates how AI is transforming manufacturing itself. By using digital twins, simulation and AI models to design and optimise production before construction was completed, Wistron demonstrates how AI is reshaping factory operations while simultaneously producing the hardware that will power future AI systems.

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ILO supports digital workplace safety tool in Malaysia

The International Labour Organization (ILO) has supported the launch of a digital occupational safety and health (OSH) assessment tool in Malaysia to help employers strengthen workplace safety, improve regulatory compliance and better protect workers.

Developed by the Malaysian Employers Federation (MEF) with support from the EU-funded PROTECT project, the tool was introduced during practical training for more than 80 employers in Port Klang.

The MEF–ILO OSH Digital Assessment Tool enables employers to conduct occupational safety and health assessments through a structured digital platform, while the accompanying OSHAWA Handbook provides practical guidance on implementing workplace safety measures.

Together, they aim to improve risk identification, strengthen compliance with Malaysian legislation and promote a stronger workplace safety culture across industries.

The initiative builds on Malaysia’s strengthened occupational safety framework following amendments to the Occupational Safety and Health Act 1994, which expanded workplace coverage and introduced more robust risk assessment requirements.

It also supports responsible business practices by helping employers meet growing international expectations on labour rights, human rights due diligence and workplace safety within global supply chains.

A particular focus of the project is improving protection for migrant workers, who make up a significant share of the workforce in sectors including manufacturing, construction, plantations and services.

By integrating the digital assessment tool into MEF’s long-term advisory and training services, the ILO aims to expand its use across Malaysia and support lasting improvements in workplace safety..

Why does it matter?

The initiative illustrates how digital tools are increasingly being used to strengthen labour governance by making workplace risk assessments more systematic, consistent and accessible. Digital platforms can also help employers monitor compliance more effectively and respond more quickly to occupational safety risks.

The project further reflects growing international expectations that businesses demonstrate responsible labour practices throughout global supply chains. By supporting compliance with both national legislation and international standards, digital workplace safety tools can improve worker protection while helping companies meet evolving regulatory and due diligence requirements.

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Microsoft and Mistral expand sovereign AI partnership in Europe

Microsoft and French AI company Mistral have expanded their strategic partnership to strengthen sovereign AI deployment in Europe, giving enterprises and regulated industries greater control over how frontier AI is deployed and managed.

The agreement combines Mistral’s AI models and expanding European compute infrastructure with Microsoft’s AI platform, allowing organisations to run AI workloads across cloud, hybrid and fully disconnected environments while maintaining greater control over data, operations and regulatory compliance.

A central element of the partnership is a multibillion-dollar investment in European AI infrastructure. Microsoft will leverage Mistral’s expanding GPU capacity, powered by thousands of NVIDIA Vera Rubin GPUs, to support AI training, inference and large-scale deployment while increasing capacity for Microsoft’s cloud and AI services.

The companies said the investment supports Europe’s AI ecosystem and aligns with Microsoft’s European Digital Commitments and Sovereign Cloud strategy.

The partnership also brings Mistral’s Medium 3.5 and OCR 4 models to Microsoft Foundry, while Medium 3.5 becomes available through Microsoft Copilot Studio. Organisations will be able to develop AI applications using Mistral’s multilingual models and deploy them consistently across Azure, Azure Local and fully disconnected environments without redesigning workloads.

According to the companies, the partnership is intended to support highly regulated sectors including healthcare, manufacturing, financial services and critical infrastructure, where sovereignty, resilience, privacy and operational continuity are key requirements.

Alongside joint customer engagement, Microsoft and Mistral will also provide proof-of-concept funding, Azure credits and technical workshops to accelerate enterprise AI adoption.

Why does it matter?

The partnership reflects a broader shift in enterprise AI from simply providing access to advanced models towards giving organisations greater control over where AI systems run, how data is handled and how regulatory requirements are met. Flexible deployment options are becoming increasingly important for governments and highly regulated industries.

The announcement also reinforces Europe’s ambition to build sovereign AI capabilities by combining domestic AI models, regional compute infrastructure and trusted cloud services. Rather than viewing sovereignty as an alternative to global technology partnerships, the collaboration illustrates how international companies and European AI developers are increasingly working together to strengthen regional digital resilience.

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Movement Labs files for Chapter 11 after MOVE token turmoil

MVMT Labs, the former developer of the Movement blockchain, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware.

The company submitted a voluntary petition on 15 July under Subchapter V, a streamlined restructuring process available to qualifying small businesses.

Court records show that MVMT Labs reported less than $1 million in assets, between $1 million and $10 million in liabilities and between 200 and 999 creditors. Creditors have until 14 September to submit claims.

The filing follows prolonged controversy surrounding the launch of the MOVE token and a disputed market-making arrangement.

Binance said an authorised market maker sold approximately 66 million MOVE tokens shortly after the token was listed, with few corresponding buy orders. The exchange later removed the market maker and froze proceeds intended for user compensation.

Movement Labs and the Movement Network Foundation said they had not been aware of the market maker’s conduct and opened an investigation into the arrangement.

Coinbase subsequently suspended MOVE trading after concluding that the asset no longer met its listing standards.

The bankruptcy applies to MVMT Labs rather than Move Industries, which took over development and operations of the Movement ecosystem in late 2025 and says the network continues to operate.

The case remains open, with MVMT Labs seeking to restructure under court supervision.

Why does it matter?

The filing shows how controversial token distribution and market-making arrangements can create prolonged governance, reputational and financial risks for blockchain companies. It also highlights the distinction between a decentralised network and the corporate entities involved in developing it, as the bankruptcy concerns MVMT Labs while another company continues operating the Movement ecosystem.

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European Commission publishes AI Act guidance on transparency labels

The European Commission has published guidance explaining how providers and deployers should comply with new AI transparency requirements under the EU AI Act, ahead of obligations taking effect on 2 August 2026.

The rules are intended to help people recognise when they are interacting with an AI system or viewing content generated or manipulated by AI. According to the European Commission, greater transparency should reduce the risks of deception and manipulation.

Providers must ensure that interactive AI systems, including chatbots, inform users that they are communicating with AI. They must also attach machine-readable markings to synthetic or AI-manipulated content so it can be detected.

Deployers face separate obligations. They must disclose the use of deepfakes, emotion-recognition systems and biometric categorisation tools, and identify AI-generated content on matters of public interest when it is published without human review or editorial oversight.

The guidance also clarifies key concepts, including interactive AI systems, synthetic content, deepfakes and AI-generated public-interest text. It further explains exemptions for routine editing tools such as spelling and grammar correction.

Organisations can demonstrate compliance by following the voluntary Code of Practice on Transparency of AI-generated Content, which has been recognised by the Commission and the European AI Board as a practical means of meeting the AI Act’s requirements.

Most transparency obligations and enforcement powers will apply from 2 August, while AI systems already on the market must meet marking and detection requirements by 2 December 2026.

The Commission is also providing an AI Act Service Desk and additional guidance to help organisations understand and implement the new requirements.

Why does it matter?

The guidance marks the beginning of one of the AI Act’s first operational transparency obligations. By requiring AI-generated and manipulated content to be identified, the EU aims to reduce the risks posed by deepfakes, synthetic media and undisclosed AI interactions while helping users make more informed decisions about the content they encounter.

The guidance also provides organisations with greater legal certainty ahead of enforcement. Clear definitions, recognised compliance mechanisms and practical implementation support should make it easier for providers and deployers to meet the AI Act’s transparency requirements consistently across the EU.

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OECD warns of risks from growing use of AI financial advice

The OECD has warned that the growing use of AI for financial advice could expose consumers to misleading information, biased recommendations and privacy risks, even as it makes financial guidance more accessible.

More than one-third of people across OECD countries used AI tools in 2025. Consumers are increasingly turning to AI for budgeting, debt management, investing, retirement planning and understanding financial products, with some also using it to ask sensitive financial questions they might hesitate to raise with a human adviser.

The OECD said AI can simplify complex financial documents, personalise financial education and help consumers compare products. However, AI systems may hallucinate, reproduce biases or generate commercially influenced recommendations without users fully recognising those limitations.

Conversational AI can also blur the distinction between general financial information and regulated professional advice. Consumers may act on recommendations that fail to reflect their financial circumstances, objectives or tolerance for risk.

The report stresses that AI cannot replace financial literacy. Consumers should question AI-generated answers, verify important information and carefully assess requests for personal or financial data. The OECD also urged policymakers to promote digital and financial literacy, maintain human oversight and ensure AI tools are grounded in reliable information, noting that people with limited digital skills or internet access may require additional support.

Why does it matter?

As AI becomes an increasingly common source of financial guidance, inaccurate, biased or commercially influenced recommendations could have direct consequences for consumers’ savings, debt, investments and long-term financial wellbeing. Unlike many other AI applications, errors in financial advice can translate into immediate economic harm.

The report also highlights the growing need for AI governance that combines transparency, human oversight and financial literacy. Ensuring that consumers understand both the capabilities and limitations of AI will become increasingly important as AI tools play a larger role in everyday financial decision-making.

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European Commission fines AliExpress €550 million for DSA breaches

The European Commission has fined AliExpress €550 million for breaching the Digital Services Act (DSA), concluding that the platform failed to adequately assess and mitigate the systemic risks associated with illegal, unsafe and counterfeit products sold through its marketplace.

The Commission found that AliExpress underestimated the risks posed by its services and failed to implement effective safeguards to protect consumers across the EU.

According to the Commission, AliExpress failed to adequately assess the effectiveness of its content moderation systems or allocate sufficient human resources to review illegal products.

Investigators also found that the platform’s recommender and advertising systems continued promoting illegal products before they were removed, while its risk assessments relied on insufficient quantitative evidence to measure the effectiveness of its mitigation measures.

The investigation also identified significant weaknesses in AliExpress’ risk mitigation measures. Counterfeit goods, unsafe toys and dangerous cosmetics remained available for extended periods, while traders repeatedly bypassed compliance checks through product miscategorisation.

The Commission further concluded that the platform failed to consistently sanction sellers of illegal products and that its brand authorisation system did not effectively prevent counterfeit listings.

AliExpress must submit an action plan by 20 October 2026 explaining how it will comply with the DSA.

The European Board for Digital Services will review the proposal before the Commission adopts a final implementation decision. Continued non-compliance could result in periodic penalty payments as the Commission monitors implementation.

Why does it matter?

The decision is one of the most significant enforcement actions taken under the Digital Services Act to date and demonstrates the European Commission’s willingness to impose substantial financial penalties on platforms that fail to manage systemic risks. It reinforces the DSA’s preventive approach, which requires very large online platforms to identify, assess and mitigate risks before harm occurs rather than relying solely on the removal of illegal content after the fact.

The case also signals that the Commission expects platforms to back their risk assessments with robust evidence, effective moderation systems and adequate human oversight. Future DSA enforcement is therefore likely to focus not only on the presence of illegal content but also on whether companies can demonstrate that their governance and risk management processes are working effectively.

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European Central Bank moves digital euro project into next legislative phase

The European Central Bank (ECB) says the digital euro project has entered a new phase after the European Parliament adopted its negotiating position, allowing trilogue negotiations with other EU institutions to begin.

Speaking in Rome, ECB Executive Board member Piero Cipollone said the digital euro could be introduced in 2029 if the legislative process is completed by the end of 2026. He said the project is intended to complement cash, strengthen Europe’s payments infrastructure and preserve the role of banks in the digital payments ecosystem.

The ECB also announced that a pilot involving 36 payment service providers, including banks and non-bank institutions, will begin in September 2027. The exercise is intended to support technical preparations ahead of any potential launch.

Under the proposed model, banks would distribute the digital euro and maintain customer relationships, while the Eurosystem would continue working with the payments sector to prepare the wider ecosystem for a possible rollout.

Why does it matter?

The adoption of the European Parliament’s negotiating position marks an important step towards establishing the legal framework for the digital euro. If trilogue negotiations conclude successfully, the project will move from design and experimentation towards implementation.

The ECB’s approach also reflects a broader effort to modernise Europe’s payment infrastructure while preserving the role of commercial banks and reducing dependence on non-European payment providers. The digital euro is therefore both a payments initiative and part of the EU’s wider strategy for financial and digital sovereignty.

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ILO, Zambia and Japan launch e-waste project for green jobs

The International Labour Organization (ILO), the governments of Zambia and Japan have launched a Japan-funded initiative to promote sustainable e-waste management while creating green employment opportunities for young people.

The Sustainable E-Waste Management for Youth Employment Project will support green enterprise development, expand employment opportunities for young people, women and persons with disabilities, strengthen skills development and promote circular economy practices as part of Zambia’s environmental and economic transformation.

According to the ILO and project partners, the initiative demonstrates how environmental sustainability and decent work can be advanced together. Employers, workers and government representatives said it will encourage entrepreneurship, strengthen collaboration, and help address Zambia’s growing e-waste challenge.

The project was launched in Lusaka as part of a partnership between the ILO and the governments of Zambia and Japan to support a greener and more resilient economy.

Why does it matter?

The initiative links environmental protection with employment creation by treating electronic waste as an economic resource rather than simply a disposal problem. Developing recycling and circular economy industries could help create new jobs while reducing the environmental and health impacts of poorly managed e-waste.

The project also reflects a broader international trend towards integrating climate, labour and development policies. By combining skills development, entrepreneurship and environmental sustainability, it illustrates how green transition programmes are increasingly being designed to deliver both economic and social benefits.

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