Berlusconi claims win for center-right in Sicily vote

This file photo taken on May 22, 2014 shows Former Italian Prime Minister and president of the Italian center-right Forza Italia (FI) party, Silvio Berlusconi during a rally. (AFP)
Updated 07 November 2017
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Berlusconi claims win for center-right in Sicily vote

PALERMO, Italy: Former Italian Prime Minister Silvio Berlusconi was poised for for a stunning political comeback on Monday, as he claimed victory in an election in Sicily that puts him and his rightist allies in pole position for a national vote due by next May.
With about 85 percent of the votes counted, a center-right bloc backed by the four-times prime minister was running five percentage points ahead of the anti-establishment 5-Star Movement, with the center-left a distant third.
“Sicily, just as I asked, has chosen the path of real, serious, constructive change, based on honesty, competence and experience,” the 81 year-old said in a video posted on Facebook.
The result puts Berlusconi back on the political map after years of sex scandals and graft allegations. By contrast, it deals a stinging blow to another former prime minister, Matteo Renzi, head of the ruling Democratic Party (PD), which is locked in feuding with erstwhile leftist partners.
After a raft of vote setbacks in recent years, Renzi has many critics inside the PD who may now try to mount a challenge to his leadership.
The regional Sicilian ballot, held on Sunday, is seen as a dry run for the national vote, with many of the island’s problems reflecting those of the country as a whole — high unemployment, a debt mountain and sluggish economic growth.

“A WINNING MODEL“
Sicily is traditionally a center-right stronghold which was poached by the PD in 2012 thanks to splits in the conservative bloc. This time Berlusconi reunited the coalition behind a widely respected leader with a far-right background.
Nello Musumeci, the center-right’s candidate for governor of the island, had 39.8 percent of the vote, while the 5-Star’s Giancarlo Cancelleri had 34.7 percent. The center-left’s Fabrizio Micari was lagging on 18.5 percent.
“From Sicily we will demonstrate that this is a winning model that can triumph at a national level,” said Giorgia Meloni, the leader of the right-wing Brothers of Italy party which is the junior partner in the center-right alliance.
The maverick 5-Star, founded by comedian Beppe Grillo, had campaigned relentlessly for months in Sicily, looking to take charge of its first region after a string of successes in municipal ballots in recent years, including in Rome and Turin.
Its leader Luigi Di Maio said the party had been penalized in Sicily by low turnout — less than half of those eligible cast a vote.
“In two or three months I think many of those who abstained will regret not going to vote,” Di Maio said, insisting that if turnout had been 3 or 4 points higher it could have tilted the result in the movement’s favor.
Although defeat is a blow, the 5-Star can take comfort from the fact that it is the largest single political force, taking at least 30 percent of a separate vote on Sicily for party lists against less than 15 percent for its nearest rival — Berlusconi’s Forza Italia (Go Italy!)


Britain needs ‘AI stress tests’ for financial services, lawmakers say

Updated 20 January 2026
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Britain needs ‘AI stress tests’ for financial services, lawmakers say

  • Lawmakers urge AI-specific stress tests for financial firms

LONDON: Britain’s financial watchdogs are not doing enough to stop artificial ​intelligence from harming consumers or destabilising markets, a cross-party group of lawmakers said on Tuesday, urging regulators to move away from what it called a “wait and see” approach.
In a report on AI in financial services, the Treasury Committee said the Financial Conduct Authority and the Bank of England should start running AI-specific stress tests to help firms prepare for market shocks triggered by automated systems.
The committee also called on the FCA to ‌publish detailed guidance ‌by the end of 2026 on how ‌consumer ⁠protection ​rules apply to ‌AI, and on the extent to which senior managers should be expected to understand the systems they oversee.
“Based on the evidence I’ve seen, I do not feel confident that our financial system is prepared if there was a major AI-related incident and that is worrying,” committee chair Meg Hillier said in a statement.

TECHNOLOGY CARRIES ‘SIGNIFICANT RISKS’

A race among banks to adopt agentic AI, which ⁠unlike generative AI can make decisions and take autonomous action, runs new risks for retail customers, the ‌FCA told Reuters late last year.
About three-quarters ‍of UK financial firms now use ‍AI. Companies are deploying the technology across core functions, from processing insurance claims ‍to performing credit assessments.
While the report acknowledged the benefits of AI, it warned the technology also carried “significant risks” including opaque credit decisions, the potential exclusion of vulnerable consumers through algorithmic tailoring, fraud, and the spread of unregulated financial advice through AI chatbots.
Experts ​contributing to the report also highlighted threats to financial stability, pointing to the reliance on a small group of US tech ⁠giants for AI and cloud services. Some also noted that AI-driven trading systems may amplify herding behavior in markets, risking a financial crisis in a worst-case scenario.
An FCA spokesperson said the regulator welcomed the focus on AI and would review the report. The regulator has previously indicated it does not favor AI-specific rules due to the pace of technological change.
The BoE did not respond to a request for comment.
Hillier told Reuters that increasingly sophisticated forms of generative AI were influencing financial decisions. “If something has gone wrong in the system, that could have a very big impact on the consumer,” she said.
Separately, Britain’s finance ‌ministry appointed Starling Bank CIO Harriet Rees and Lloyds Banking Group ‘s Rohit Dhawan as “AI Champions” to help steer AI adoption in financial services.