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The Financial Data and Technology Association of North America (FDATA) has presented a compelling appeal to Canada’s Department of Finance, emphasizing the need to accelerate the implementation of Open Finance in the upcoming Budget 2025.According to Open Banking Expo, in a robust submission responding to the Department’s pre-budget consultation, FDATA has outlined strategic recommendations to refine the initial Open Banking regime and promote a competitive and innovative financial environment.Highlighting the significance of Open Banking, FDATA advocates for a swift and well-regulated rollout, ensuring that Canadian consumers and SMEs gain comprehensive access to its benefits. The association stresses the importance of…

WASHINGTON (AP) — More than 50 universities are being investigated for alleged racial discrimination as part of President Donald Trump’s campaign to end diversity, equity and inclusion programs that his officials say exclude white and Asian American students.The Education Department announced the new investigations Friday, one month after issuing a memo warning America’s schools and colleges that they could lose federal money over “race-based preferences” in admissions, scholarships or any aspect of student life.“Students must be assessed according to merit and accomplishment, not prejudged by the color of their skin,” Education Secretary Linda McMahon said in a statement. “We will…

NEW YORK (AP) — The Trump administration has delivered an extraordinary ultimatum to Columbia University, threatening to permanently end federal funding to the Ivy League school unless it cedes control of an international studies department and implements sweeping changes to other campus policies.In a letter sent Thursday night, federal officials said the university must immediately place its Middle Eastern, South Asian, and African Studies Department under “academic receivership for a minimum of five years.” It must also ban masks on campus meant to conceal the wearer’s identity “or intimidate others,” adopt a new definition of antisemitism, abolish its current process…

A Russian threat actor has been exploiting two Fortinet firewall vulnerabilities in attacks leading to ransomware deployments, cybersecurity firm Forescout warns. The hacking group, tracked as Mora_001, apparently adopted a leaked LockBit builder to create its own file-encrypting ransomware variant that Forescout has dubbed SuperBlack. Mora_001, the cybersecurity firm says, has ties to established ransomware gangs, based on its post-exploitation patterns, the use of the leaked builder, and the use of the same ID as LockBit for the peer-to-peer communication service Tox. “The post-exploitation patterns observed enabled us to define a unique operational signature that sets Mora_001 apart from other…

Chances are, if you’re reading this, you got some sleep last night. But are you feeling rested?Experts say it’s an important question to consider. Most of us spend a third of our lives sleeping, but you may need more or less than eight hours a night. Here’s what sleep scientists and doctors say about how much you really need — and whether your gender plays a role.Sleep quality over quantitySleep is still a mystery, despite how critical it is for our health.“The reasons aren’t entirely clear, but it’s an essential thing that we all do,” said Dr. Rafael Pelayo, a…

Chubb, a global provider of insurance products, has launched a new division, North America Small & Lower Midmarket, to consolidate its Lower Middle Market and Digital Small Business divisions.The new structure aims to enhance service delivery and streamline operations within this growing segment, according to InsurTech Insights.Operating under Chubb’s North America Middle Market organisation, the new division is designed to create a more cohesive and efficient approach to serving small and lower middle market businesses.By combining its expertise in these areas, Chubb intends to simplify processes and improve the experience for clients and partners.Chubb has appointed Rob Poliseno as division…

Octopus Money has announced a partnership with Aveni, a leading developer of AI-driven solutions for the financial services sector. This collaboration aims to enhance the personalisation and efficiency of financial advice through advanced AI tools.The partnership was formed to integrate Aveni’s AI technology, including Aveni Detect and Aveni Assist, into Octopus Money’s operations. These tools are designed to improve the delivery of financial advice by automating administrative tasks and enhancing customer interaction.Octopus Money provides personalised one-to-one financial coaching and advice, supported by a robust technology platform. The company focuses on making financial advice accessible and tailored to individual needs. Aveni,…

In recent years, the international community has intensified sanctions against Russia and Belarus, with the European Union, UK, US, and other G7 countries expanding multilateral sanctions.According to Moody’s, this includes not only listing individuals but also employing broader strategies like sanctioning vessels and aircraft, signalling a robust commitment to thwarting sanctions evasion and punishing non-compliance.Since 2022, the scope of financial sanctions has widened, encompassing stringent export controls. The G7’s introduction of the “Common High Priority List” (CHPL) marks a significant step, categorising various goods with assigned HS codes to prevent their export to Russia and Belarus, reflecting a focused strategy…

SoftBank is marching ahead on its ambitions to build out a major AI operation in its home market of Japan, on its own steam and in strategic partnership with others like OpenAI. On Friday, the tech company confirmed it would pay $676 million for factory previously used by Sharp to build LCD panels to convert it into an artificial intelligence data center. SoftBank’s purchase and sale agreement with Sharp includes both the land and buildings of the Sharp Sakai Plant in Osaka, for a price of 100 billion yen ($676 million). This was a necessary early step for SoftBank since…

ZestyAI, an artificial intelligence-driven predictive analytics company, has announced a new partnership with digital insurance company Lemonade to optimise underwriting for key catastrophe perils across the U.S.The partnership will allow Lemonade to enhance its underwriting capabilities by integrating ZestyAI’s platform, which provides precise and transparent property risk assessments.By leveraging ZestyAI’s advanced AI models, Lemonade can improve its ability to mitigate catastrophe risks and strengthen regulatory compliance with approvals in key states.ZestyAI specialises in predictive analytics for the insurance and real estate sectors. Its platform utilises AI models to analyse climatology, geography, and individual property characteristics, such as roof condition and…