Japanese Emperor Naruhito finally begins delayed UK state visit

Japan's Emperor Naruhito speaks during a press conference at the Imperial Palace in advance of his visit to Britain, Wednesday, June 19, 2024, in Tokyo. (AP)
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Updated 22 June 2024
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Japanese Emperor Naruhito finally begins delayed UK state visit

  • The emperor’s trip is the third state visit of Charles’ reign, but the first since it was revealed earlier this year that he had been diagnosed with cancer

LONDON: Emperor Naruhito and his wife begin a week long visit to Britain on Saturday, visiting Oxford University where they both studied and attending a formal banquet with King Charles, but there are no plans for a meeting with Prime Minister Rishi Sunak.
Naruhito and his wife, Empress Masako, had been due to make the trip in 2020 when Queen Elizabeth was still alive but it was postponed because of the COVID-19 pandemic.
Their first overseas trip together after his enthronement was to Elizabeth’s funeral in 2022, and ahead of the state visit Naruhito, 64, spoke of the kindness the British royals had shown to him when he arrived in Britain to study in the early 1980s.
He recalled how the late queen had invited him to Buckingham Palace for tea which she made herself.
“I have fond memories of the heartwarming hospitality I received from her majesty the queen and the royal family, making me feel like I was part of their family,” he told a news conference held in Tokyo.
The emperor’s trip is the third state visit of Charles’ reign, but the first since it was revealed earlier this year that he had been diagnosed with cancer.
Naruhito said he was grateful the king would host them despite his illness, and he also sent good wishes to Charles’ daughter-in-law Kate, wife of heir Prince William, who is having preventative chemotherapy treatment for cancer.
“I understand that they are both going through a hard time, but I pray that their treatment will go smoothly and that they will have a speedy recovery,” he said.
The official reason for the trip is to celebrate the long ties between the two royal families, and to demonstrate the deep relationship between the two countries.
However, the Japanese royals are also using it as a chance to return to Oxford where they both studied at separate times, while Naruhito will visit the River Thames flood barrier which he had researched while at university there.
The visit clashes with campaigning for the British election on July 4, and a Japanese foreign ministry official said there were no plans for a meeting with the prime minister.
The official state elements of the trip begin on Tuesday when Prince William will formally greet the emperor, before a grand carriage procession along The Mall to Buckingham Palace where there will be a state banquet.
During the trip Naruhito will also privately visit St. George’s Chapel at Windsor Castle to lay a wreath on the tomb of Queen Elizabeth.

 


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.