Hong Kong stock exchange octuples, tennis pros angry at AI, board members work harder, and more.
News from July 3 - July 10 2025
Tennis Pros Angry at AI
Tennis players at Wimbledon criticised the competition’s use of the AI-powered electronic line calling system (ELC) after it made incorrect calls on whether balls were in or out.
In one instance, the umpire had to ask tennis pros Sonay Kartal and Anastasia Pavlyuchenkova to restart their game after the ELC failed to track the ball. In another, Ben Shelton felt the need to speed up his match after being informed that the ELC would soon stop working due to the dwindling sunlight.
Chair of the All England Club Debbie Jevans: “When we did have linesmen, we were constantly asked why we didn’t have electronic line calling because it’s more accurate.”
Shein Pressures London
Chinese fast fashion retailer Shein filed a draft prospectus with the Hong Kong Stock Exchange, allegedly to pressure Britain’s FCA to approve its controversial London listing.
This comes after the FCA and Shein couldn’t agree on a risk disclosure agreement involving Shein’s sourcing of cotton from China’s Xinjiang province, where the Uyghur people are subjected to forced labour.
AJ Bell investment analyst Dan Coatsworth: “Shein failed to get a US listing off the ground, so its attention turned to the UK, where progress has been incredibly slow. Now it seems to be trying a different tactic where it plays one exchange off against another.”
Monzo Gets Fined
Britain’s financial regulator fined Monzo £21 million for failing to implement robust Know Your Customer (KYC) systems as it grew its customer base from 600,000 people in 2018 to 5.8 million people in 2022.
In a report, the Financial Conduct Authority (FCA) said that Monzo’s verification processes didn’t notice suspicious registration addresses like Buckingham Palace, Number 10 Downing Street, and Monzo’s London headquarters. Monzo also repeatedly onboarded tens of thousands of high-risk customers, flouting rules imposed upon it by the FCA.
FCA joint enforcement director Therese Chambers: “Monzo onboarded customers on the basis of limited, and in some cases, obviously implausible information.”
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