ICE Rejects Proposal to Include EU Debt in Sovereign Indexes

Intercontinental Exchange Inc. rejected a proposal to include debt issued by the European Union in its government bond benchmarks, the latest blow to the bloc’s quest to attract a larger pool of investors, Bloomberg News reported. The index provider and owner of the New York Stock Exchange said it wouldn’t alter its definition of a sovereign issuer, which would have allowed for the change. The decision follows a similar move by MSCI Inc. in June. It’s a setback for the EU, which has been lobbying to reclassify its bonds since the end of last year.
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EU Calls for Help with Shaping Rules for General-Purpose AIs

The European Union has kicked off a consultation on rules that will apply to providers of general-purpose AI models (GPAIs) — such as Anthropic, Google, Microsoft and OpenAI — under the bloc's AI Act, its risk-based framework for regulating applications of artificial intelligence. Lawmakers want the Code of Practice to help ensure "trustworthy" GPAIs by providing developers with guidance on how to comply with their legal obligations, TechCrunch reported. The EU AI Act was adopted earlier this year and will come into force imminently, on August 1.
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