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The Latest Breaking News from BIS

Spain backs Hernández de Cos in first-ever bid for the ECB presidency, reports say

The Spanish government has chosen Pablo Hernández de Cos, general manager of the Bank for International Settlements and former Bank of Spain governor, as its candidate to succeed Christine Lagarde at the ECB.

Euronews

BRICS MoU on standardisation would create framework for collaboration: Pralhad Joshi

Bengaluru hosted the fifth BRICS National Standardisation Bodies meeting today. A significant Memorandum of Understanding on cooperation in standardisation was signed. This agreement establishes a formal framework for collaboration among member nations. Discussions also covered standards for artificial intelligence and trade facilitation. BRICS countries will now jointly shape international standards…

The Economic Times

‘More real than anything you’ll see scrolling’: the radical resurgence of UK fanzines, 50 years after punk

Five decades since punk bible Sniffin’ Glue, DIY magazines are in rude, rich health. Their creators talk fandom, community-building and resisting the algorithm

The Guardian - UK

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BIS Warns that The Ongoing AI Boom Echoes Painful Historical Investment Busts

A new report cautions that the extraordinary spending on AI infrastructure bears striking similarities to past technological revolutions that ultimately ended in financial corrections and recessions.

International Business Times

The central bank of central banks just released its flagship annual report — and it sees a $1 trillion AI investment boom headed for a reckoning

The Bank for International Settlements draws an explicit parallel to the dotcom crash and railway mania, but the stakes are bigger now.

Fortune

The AI boom propping up markets could trigger the next crash, central banks warn

The vast surge of investment in AI, which has powered global stock markets to record highs, risks ending in a financial bust, the Bank for International Settlements warns, as the build-up’s hidden costs begin to surface in company accounts and consumer prices alike.

Euronews

Bosch to pay $36 million penalty for $72 million in ‘illicit’ sales to Huawei — German company sold export-controlled goods and software to banned Chinese firm between 2020 and 2024

The U.S. fined Bosch $36 million for selling export-controlled product to Huawei, including software and MEMS sensors. The German company agreed to pay the penalty, as well as disgorging part of the profits it made from the 'illicit' sales.

Tom’s Hardware

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BIS plans phased move towards mandatory silver hallmarking

The Bureau of Indian Standards is studying mandatory hallmarking for silver. This move aims to ensure purity for buyers. Silver hallmarking is more complex than gold due to its diverse market. BIS is proceeding cautiously to set systems right before implementation. Mandatory hallmarking will be introduced gradually. The number of…

The Economic Times

US closes loophole that allowed Chinese-owned subsidiaries located outside China to buy AI chips — report claims that hundreds of thousands of advanced AI chips have been acquired through BIS blind spot

The BIS just issued a clarification that Chinese-owned subsidiaries are included in U.S. export controls, even if they're based outside of China. However, one source said that some companies have been using this loophole to acquire AI chips that estimated to be in the hundreds of thousands.

Tom’s Hardware

US to halt Nvidia AI chip sales to Chinese firms

There are fears Chinese companies have taken advantage of a loophole to buy hundreds of thousands of the world's most advanced AI chips.

AAP

BIS and banks build blockchain cross-border payments prototype

Global financial institutions are set to test a new digital system for cross-border payments. This project, involving major banks and central banks, aims to make international money transfers faster and cheaper. The system will use blockchain technology for quick settlements. Officials emphasize getting the technology right before a full rollout.…

The Economic Times

India's top copper producers like Adani, Vedanta and Hindalco oppose inclusion of scrap-based rods in standards

In a major dispute, leading copper producers like Adani and Vedanta are opposing the inclusion of copper wire from secondary refiners in government quality standards, based on the argument that products made from scrap pose safety risks due to inconsistent purity. This standoff impacts a significant portion of copper wire…

The Economic Times

Encrypted texts reveal how Nvidia chips and U.S. tech are being smuggled to China and Russia

American-made tech components are being illegally smuggled to Russia, Iran, and China and lawmakers fear it could give them a battlefield edge.

Fortune

Lutnick urges boost for trade enforcement at BIS

The Commerce Department says it needs additional funds in fiscal 2027 to enforce export controls and prevent the diversion of semiconductors to China and other foreign adversaries. Testifying Thursday before the House Commerce-Justice-Science Appropriations Subcommittee, Commerce Secretary Howard Lutnick said investment in new law enforcement agents at the Bureau of…

Roll Call

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Tom’s Hardware

Approvals for Nvidia and AMD AI chip exports to China stall under government bottleneck — 20% staff turnover hobbles Bureau of Industry and Security

Staffing at the U.S. Commerce Department office that vets exports of Nvidia and AMD AI accelerators has collapsed over the past year.

The Independent UK

British Ice Skating appeal against points penalty that cost Lilah Fear and Lewis Gibson bronze medal

The two Brits believed they had won a World Championship bronze only to be docked two points by the judges

Fortune

Supermicro—accused of smuggling $2.5 billion in Nvidia chips to China—has been here before, in Iran

Yih-Shyan “Wally” Liaw was arrested on Thursday and resigned his seat on the Super Micro Computer board on Friday.

TechRadar

The biggest heist of the US-China Chip War: 3 Supermicro employees charged with conspiracy to smuggle restricted Nvidia H100, H200, and B200 chips to China – dummy boxes, fake labels, and a pass-through company enabled the $2.5 billion scheme

Three men are facing charges of conspiracy to smuggle restricted GPUs to China.

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Euronews

Lagarde in hot water over ‘additional’ BIS salary despite ECB limits on extra pay

The ECB President is facing backlash after disclosing she earns over €140,000 a year as a board member for the Bank for International Settlements (BIS). ECB policy bans regular staff from accepting third-party payments.

Tom’s Hardware

Applied Materials to pay $252 million penalty for selling chipmaking tools to banned Chinese firm — settles over alleged 56 tool exports to chipmaker SMIC following Entity List designation

Applied Materials must pay a $252 million civil penalty to settle allegations that it illegally exported semiconductor manufacturing equipment to SMIC subsidiaries.

The Independent UK

Top central bankers express 'full solidarity' with Fed Chair Powell in clash with Trump

Eleven central bankers from around the world have expressed full support for U.S. Federal Reserve Chair Jerome Powell

International Business Times

Crypto's Biggest Risk Is Not Volatility

Chainalysis estimates that hackers stole about 2.2 billion dollars in crypto in 2024 alone, a 21 percent increase over the previous year, and notes that this was the fourth year in a row that hacking losses stayed above 1 billion dollars.

The National (Scotland)

‘Moment of unity’: SNP and Believe in Scotland sign independence campaign deal

THE SNP have signed a deal with campaign organisation Believe in Scotland, marking a significant milestone in establishing a formal partnership to…

The National (Scotland)

See the full partnership agreement between SNP and Believe in Scotland

THE SNP and Believe in Scotland have outlined how they’ll work together to strengthen the independence movement in signed a working agreement

The National (Scotland)

Believe in Scotland kicks off new energy campaign with national day of action

Pro-Scottish independence group Believe in Scotland have kicked off a new campaign on energy and independence with a national day of action ...

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