FTI Consulting News Bytes – 4 July 2025

FTI Consulting News Bytes

This week’s edition of News Bytes sparkles (Happy 4th July to our American subscribers!) into your inbox, appropriately kicking off with news from across the pond that the US Senate blocked a plan for individual states to regulate AI for the next 10-years. Next, we delve into a new report which has found that over 25% of UK businesses fell victim to cyber attacks in the last 12-months, with the number only set to increase. One institution taking technology by its reigns is Gov.UK as it this week unveiled its inaugural app… with a few caveats. Finally we look at Apple’s revamped AI strategy and the FCA’s warning over takeover leaks.

This week’s news

US Senate rejects plan to stop states regulation AI

In a near-unanimous 99–1 vote, the U.S. Senate struck down a proposed 10-year moratorium that would have barred states from enacting AI regulation the Financial Times report. The decision, which signals a renewed momentum for localised oversight in emerging AI governance, comes following Big Tech’s argument that the restriction is necessary to prevent the creation of inconsistent regional rules that could hamper innovation and lead the US to fall behind in its AI race against China.

More than 25% of UK  businesses hit by cyber-attack in the last year

A report from the Royal Institution of Chartered Surveyors (RICS) has found that more than one in four UK businesses have fallen victim to cyber-attacks in the last year, with many more at risk, The Guardian writes. The findings come after high street giant, M&S, had to halt online orders for over six weeks following a cyber-attack, and reveal that 73% of business leaders think they may be next. As cybercriminals become more sophisticated, the RICS are warning of the risk posed to technologically ‘outdated’ buildings.

Gov.UK launches first iteration of its app

The UK government this week launched its digital application, set to be the main online hub for citizen interactions with government going forward, The Guardian reports. Upon launching, Secretary of State for Science and Technology, Peter Kyle, admitted the design is “not as we [the government] would like it to be”, as it is revealed that the current version is limited in function, exclusively steering users to pre-existing webpages. The general public can look forward to AI chatbots, the ability to track benefit and childcare allowances, and digital driving licenses towards the end of the year. For now, Brits are asked to hold tight and bide their time with the “minimum viable product”.

Apple considers major AI strategy pivot

As reported by CityAM, Apple is considering a major step change in its AI strategy by exploring partnerships with Anthropic and OpenAI to power a revamped Siri, moving away from its longstanding reliance on in-house foundation models. This pivot acknowledges Apple’s lagging position in generative AI compared to competitors. Despite plans for a next-gen Siri using internal models by 2026, Apple is testing external options to accelerate development and improve quality. The company insists these third-party models run on Apple’s private cloud to protect privacy. This strategic move reflects internal instability and talent departures but signals a pragmatic, hybrid approach balancing short-term partnerships with long-term in-house AI goals.

FCA issues warning on UK takeover leaks 

Nearly 40% of UK takeovers leaked in the media before official announcements in the 14 months to May 2025, raising concerns at the FCA about London’s increasingly “leaky” market. As per the Financial Times, the regulatory body has warned bankers amid rising unusual trading activity before takeover news, suggesting possible insider trading or “strategic leaks” aimed at influencing negotiations. This leak rate exceeds global averages, with 38% of UK deals showing abnormal price movements before announcements. The FCA says it is monitoring the situation closely, conducting investigations and working with banks and the Takeover Panel to curb leaks and improve market integrity.

Top Tweets of the Week

• Sundar Pichai, Google CEO: We’re making a long-term bet on fusion energy through our partnership with @CFS_energy. This includes the largest direct corporate purchase for fusion energy, and a new investment to help CFS prove out their promising technology and move it closer to commercialization.
• Sadiq Khan, Mayor of London: I’ve made tackling violence against women and girls a top priority. I joined Sir Mark Rowley in the Met’s Forensic Crime Lab HQ to see revolutionary new technology, backed by support from City Hall, that makes it easier to visualise bruising on victims of violence.
• Tech EU: Defencetech unicorn TEKEVER acquires Cocoon Experience to drive human-centric innovation

Number of the week

£160mn The value of funds raised by London firms in H1 2025, marking its lowest level in 30 years.