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UK banks are grappling with a significant rise in fraud cases, particularly involving unauthorised transactions and authorised push payment (APP) scams. Despite a slight decrease in total losses, the number of reported fraud cases has surged. New regulations mandate banks to reimburse victims up to £85,000 within five days, enhancing consumer protection.
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On October 8, 2024, a bipartisan coalition of 14 states and the District of Columbia filed lawsuits against TikTok, alleging the app's design is intentionally addictive and harmful to youth mental health. The lawsuits cite features that promote excessive use and misrepresent the platform's safety for children, seeking financial penalties and regulatory changes.
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Geoffrey Hinton and John Hopfield received the Nobel Prize in Physics for foundational work in AI, while Demis Hassabis and John Jumper from Google DeepMind won the Chemistry prize for breakthroughs in protein structure prediction. This recognition highlights AI's growing influence in science and raises ethical concerns about its commercialization.
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Walgreens Boots Alliance announced plans to close 1,200 stores over the next three years, with 500 closures expected by August 2025. This decision is part of a $1 billion cost-cutting strategy aimed at improving profitability amid ongoing challenges in the retail pharmacy sector. The closures reflect broader struggles faced by pharmacy chains in the U.S.