US Senator Elizabeth Warren is stepping up pressure on regulators to investigate Wall Street executives who may have assisted Jeffrey Epstein, according to a letter seen by Bloomberg.<\/strong><\/p>\nThey report that Warren has called for officials at the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. to publicly announce investigations by March 12.<\/p>\n
Bloomberg say:<\/p>\n
double quotation markFinance leaders have faced increasing scrutiny in recent weeks after the Department of Justice released more files tied to Epstein.<\/p>\n
In her letter dated Wednesday, Warren called out executives at JPMorgan Chase & Co. and Goldman Sachs Group Inc.\u2019s Kathryn Ruemmler, as well as Jes Staley, the former chief executive officer of Barclays Plc.<\/p>\n
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B\u00f8rge Brende has now joined a growing list of figures from business and finance to vacate their jobs over their links to Jeffrey Epstein.<\/strong><\/p>\nTwo weeks ago the boss of P&O Ferries owner DP World, Sultan<\/strong> Ahmed<\/strong> bin<\/strong> Sulayem<\/strong>, resigned after the publication of messages with Epstein.<\/p>\nKathy<\/strong> Ruemmler<\/strong>, the top lawyer at Goldman Sachs and a former White House counsel to Barack Obama, resigned earlier this month after emails showing a close relationship between her and Epstein.<\/p>\nAnd former US treasury secretary Larry<\/strong> Summers<\/strong> is retiring from his roles at Harvard university after its review into his ties with convicted sex offender Jeffrey Epstein.<\/p>\nShare<\/p>\n
B\u00f8rge Brende\u2019s resignation statement doesn\u2019t actually mention Jeffrey Epstein.<\/strong><\/p>\nBut a month ago, he told Bloomberg that if he\u2019d known about Epstein\u2019s criminal background, he would have declined the dinner invitations.<\/p>\n
\u201cI could have conducted a more thorough investigation into Epstein\u2019s history, and I regret not doing so,\u201d he said, adding that \u201ca few emails and SMS messages were the extent of my interactions.\u201d<\/p>\n
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WEF co-chairs: We respect Brende’s decision to step down.<\/h2>\n
The co-chairs of the World Economic Forum, Andr\u00e9 Hoffmann and Larry Fink, have issued a statement on behalf of WEF\u2019s Board of Trustees.<\/strong><\/p>\nIn it, they say that the review into B\u00f8rge Brende\u2019s links to Epstein has concluded, and had not uncovered any concerns beyond what had been \u201cpreviously disclosed\u201d.<\/p>\n
Hoffmann<\/strong> and Fink<\/strong> say:<\/p>\ndouble quotation markWe wish to express our sincere appreciation for B\u00f8rge Brende\u2019s significant contributions to the World Economic Forum. His dedication and leadership have been instrumental during a pivotal period of reforms for the organization, leading to a successful annual meeting in Davos. We respect his decision to step down.<\/p>\n
We are pleased to announce that Alois Zwinggi will serve as Interim President and CEO and looking forward to his continued collaboration and partnership over time. The Board of Trustees will oversee the leadership transition including the plan to drive a proper process to identify a permanent successor.<\/p>\n
The independent review conducted by outside counsel has concluded. The findings stated that there were no additional concerns beyond what has been previously disclosed.<\/p>\n
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Updated at\u00a006.40 EST<\/p>\n
CEO of World Economic Forum quits after Epstein ties scrutinised<\/h2>\n
The president and CEO of the World Economic Forum, B\u00f8rge Brende, is stepping down, after the forum launched an independent investigation into his relationship with Jeffrey Epstein.<\/strong><\/p>\nBrende<\/strong>, a former Norwegian Minister of Foreign Affairs, has announced he is stepping down from WEF to avoid \u201cdistractions\u201d.<\/p>\nIn a statement just released, Brende<\/strong> says:<\/p>\ndouble quotation markAfter careful consideration, I have decided to step down as President and CEO of the World Economic Forum. My time here, spanning 8\u00bd years, has been profoundly rewarding.<\/p>\n
We have seen a record number of partners join us, and we have had a very successful Annual Meeting in Davos behind us, where we engaged with governmental leaders from all over the world like never before.<\/p>\n
I am grateful for the incredible collaboration with my colleagues, partners, and constituents, and I believe now is the right moment for the Forum to continue its important work without distractions.<\/p>\n
His departures follows disclosures from the US Justice Department that showed Brende had three business dinners with Epstein and had also communicated with him via email and text message.<\/p>\n
It also comes just a month after WEF\u2019s annual meeting in Davos.<\/p>\n
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Updated at\u00a006.46 EST<\/p>\n
LSEG: We can’t be replaced by AI<\/h2>\n
Julia Kollewe<\/span><\/p>\nThe boss of the London Stock Exchange Group (LSEG), David Schwimmer, has stressed the company\u2019s resilience against the threat of artificial intelligence, saying he had ben telling investors about \u201chow unlikely, verging on impossible it is that it could be replicated or replaced by AI\u201d.<\/strong><\/p>\n\u201cWe have made great progress in terms of providing clarity to our investors about how much of our data is proprietary,\u201d he said. The LSE<\/strong>, traditionally an exchange operator, in 2021 bought the data provider Refinitiv, and sells access to financial markets data including bonds, equities and commodities to banks and brokers.<\/p>\nThe company\u2019s shares were recently caught up in a broader sell-off of stocks seen as vulnerable to AI. Schwimmer<\/strong> said:<\/p>\ndouble quotation mark\u201cWhat you\u2019ve seen over the last several months, and again, this is not just about LSEG, this is about whole swathes of the market and whole sectors, there\u2019s a lot of uncertainty and a lot of lack of clarity amongst investors as to what this technology will do.<\/p>\n
\u201cWe are explaining to the market and to our investors how strong our positioning is in data, and we are seeing great traction. And we have partnerships with new AI channels like ChatGPT and Claude, and we\u2019re seeing our customers want to access our data through these new channels.\u201d<\/p>\n
His comments came as the LSEG<\/strong> announced \u00a33bn of share buybacks over the next 12 months, its biggest ever, after it came under pressure from the activist investor Elliott Management, a New York-based hedge fund, to improve its performance. Last year, the LSE bought back \u00a32.1bn of shares and raised its dividend by 15%.<\/p>\nSchwimmer<\/strong> said the company had held some discussions with Elliott, but added that the board was talking to all of its shareholders. \u201cWe\u2019re trying to do the right thing for all of our shareholders.\u201d<\/p>\nLSEG\u2019s<\/strong> share price has jumped nearly 6% this morning, but is down about a quarter in the past year, amid fears about the impact of AI on its business. The firm reported a 57% jump in profit before tax to nearly \u00a32bn in 2025.<\/p>\nBatting off suggestions that it could sell its 51% stake in the bond trading platform Tradeweb, Schwimmer<\/strong> said: \u201cWe have no intentions or no plans at this point to conduct any disposals.\u201d Elliott is reportedly pressing the LSE for a review of its businesses.<\/p>\nShare<\/p>\n
Euro zone economic sentiment has deteriorated in February, in a blow to hopes that Europe\u2019s economy was reviving.<\/strong><\/p>\nThe European Commission\u2019s Economic Sentiment Indicator (ESI) has decreased in both the EU and the euro area this month, falling by one point to 98.3 in both areas.<\/p>\n
Employment expectations also dropped.<\/p>\n
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UK NEETS rise as more young people look for work<\/h2>\n
The number of young people in the UK not in employment, education or training has risen, amid growing concerns that artificial intelligence is eliminating entry-level job opportunities.<\/strong><\/p>\nThe Office for National Statistics has reported that the number of NEETS rose to 957,000 in October-December, up from 946,000 in July to September.<\/p>\n
David Freeman, <\/strong>joint head of labour market division at the ONS, <\/strong>says:<\/p>\ndouble quotation mark\u201cThe final quarter of 2025 saw a slight increase in the number of young people not in employment, education and training compared to the previous quarter. This was driven by higher unemployment, with more young people actively looking for work.\u201d<\/p>\n
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