Barclays fined £42m for ‘poor handling’ of financial crime risks; UK inflation rises to 18-month high of 3.6% – business live

Barclays has been fined £42m by Britain’s financial watchdog over its “poor handling” of financial crime risks.The Financial Conduct Authority said the penalties related to separate failings linked to the WealthTek and Stunt & Co businesses.It fined Barclays Bank £39.3m for “failing to adequately manage money laundering risks” related to providing banking services to Stunt & Co, the firm run by socialite James Stunt.In just over a year, Stunt & Co received £46

UK inflation rise makes it clear: the cost of living crisis has not gone away

For anyone hoping the Bank of England will pick up the pace of interest rate cuts – including Rachel Reeves – there was little comfort in the inflation data.The consumer prices index increased at a higher than expected rate of 3.6% in June, the Office for National Statistics (ONS) revealed.That remains in line with the Bank of England’s expectation of an inflation “hump” over the summer; but the upward pressure is not just confined to the regulated prices, such as transport fares and utility bills, that policymakers knew would rise.Motor fuels are the main factor behind the upward shift in CPI from 3

Nothing Phone 3 review: a quirky, slick Android alternative

The Phone 3 is London-based Nothing’s latest attempt to get people to ditch Samsung or Apple phones for something a bit different, a little quirky and more fun.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more.As the firm’s first high-end Android in several years, it has most of what you’d expect a flagship phone to have

Elon Musk’s Grok chatbot melts down – and then wins a military contract

Hello, and welcome to TechScape. This week, Elon Musk’s X, formerly Twitter, saw its artificial intelligence chatbot Grok go Nazi. Then its CEO resigned. In the past three years of Musk’s ownership of the social network, it feels like X has weathered at least one public crisis per week, more often multiple.Last week, Musk’s artificial intelligence firm, xAI, saw its flagship chatbot Grok declare itself a super-Nazi, referring to itself as “MechaHitler”

Owen Farrell expected to be left out of Lions squad for first Wallabies Test

Owen Farrell is expected to be omitted from the British & Irish Lions squad to face the Wallabies on Saturday in Brisbane.Farrell impressed in his first appearance of the tour last week but it is believed Andy Farrell is ready to overlook his son, with Marcus Smith the likely beneficiary.Farrell appeared for 30 minutes off the bench against the AU & NZ Invitational XV last Saturday and had a hand in three of the Lions’ tries. Offering cover at inside-centre and fly-half he was tipped to make the Test squad but he is now likely to have to wait for a seventh Lions cap.With Blair Kinghorn and Mack Hansen nursing knee and foot injuries respectively, and Farrell missing out, Smith is set to profit and be asked to cover fly-half and full-back against the Wallabies in Brisbane

From the Pocket: Bulldogs need to lock down Marcus Bontempelli’s future above all else

It was a familiar story for Marcus Bontempelli and his team on the weekend. To mine the stats sheet, no player on the ground had more possessions, tackles, clearances, inside 50s and metres gained. It still wasn’t enough. The Bulldogs lost to a good side, but remain a decidedly lopsided, occasionally exhilarating and increasingly bewildering team.Leading his team off, the captain had the same look he often gets after losses like that – the wrung-out look of a man asking: “How much more do I have to do here?”Helen Garner, like half of Melbourne, is currently writing a book about the mushroom killer