• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on June 25, 2025

    Featured image for article about Finance

    STOCKHOLM (Reuters) -Tech lobbying group CCIA Europe, whose members include Alphabet, Meta and Apple, on Thursday urged European Union to pause implementation of the AI Act, saying a rushed roll-out risks jeopardizing the continent’s AI aspirations.

    Europe's landmark AI rules entered into force in June last year with various provisions to be implemented in a phased manner.

    Important provisions of the EU AI Act, including rules for general purpose AI (GPAI) models, were due to apply on August 2. But some parts of the GPAI, which were expected to be published on May 2, got delayed.

    "With critical parts of the AI Act still missing just weeks before rules kick in, we need a pause to get the Act right, or risk stalling innovation altogether," said Daniel Friedlaender, CCIA Europe's senior vice president.

    Political leaders such as Swedish Prime Minister Ulf Kristersson have also called AI rules "confusing" and asked the EU to pause the Act, ahead of a meeting with other EU leaders in Brussels on Thursday.

    More than two-thirds of European businesses said they struggle to understand their responsibilities under the EU AI Act, according to a survey by Amazon Web Services.

    The EU AI Act is more comprehensive than the United States' light-touch voluntary compliance approach while China's approach aims to maintain social stability and state control.

    "We are currently implementing the AI Act," EU tech chief Henna Virkkunen told EU lawmakers earlier this month when asked if she would consider a temporary halt to enforcing the AI Act.

    "I want to implement it in a very innovation friendly manner ... the main concern among some stakeholders is that this is hindering innovations."

    (Reporting by Supantha Mukherjee in Stockholm and Foo Yun Chee in Brussels; editing by Philippa Fletcher)

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe