As major tech firms respond to the EU’s new AI code, Europe is taking its first big step towards regulating powerful artificial intelligence systems.

The rules come into effect on Saturday, kicking off a voluntary compliance period for general purpose AI (GPAI) models – the systems behind tools like ChatGPT and Google’s Gemini.

The EU is one of the first regions in the world to set clear rules for how powerful AI systems should work.

The full AI Act is not expected before 2026, but the European Commission has released a Code of Practice to get companies working towards the new standards now.

The code is not legally binding, but it sets out clear expectations: explain how models work, be transparent about training data, assess risks such as bias or misinformation, and help users understand how the technology operates.

Google announced on Tuesday that it would sign the code. Other companies, including OpenAI and French startup Mistral, have already done so.

“We will join several other companies, including US model providers, in signing,” said Kent Walker, Google’s president of global affairs.

But he also raised concerns that too many rules could slow innovation. “Over-regulation risks slowing Europe’s development and deployment of AI,” he said.

Meta, the parent company of Facebook and Instagram, is refusing to sign. It argues that the code is too vague and goes beyond what the AI Act will require.

“This code introduces a number of legal uncertainties for model developers, as well as measures which go far beyond the scope of the AI Act,” said Joel Kaplan, Meta’s chief global affairs officer, in a LinkedIn post.

Meta has had other run-ins with Brussels. It recently pulled all political ads from its European platforms rather than comply with new EU rules on online campaigning.

Some of Europe’s largest firms have also voiced concern. Earlier this month, companies including Airbus and Lufthansa asked Brussels to pause its AI plans, warning that the bloc risks falling behind in the global race for tech leadership.

Google echoed those concerns. “Departures from EU copyright law, steps that slow approvals, or requirements that expose trade secrets could chill European model development and deployment,” Walker said.

Despite pushback from industry and political pressure from abroad, the Commission is holding firm. The compliance period begins this weekend, showing that Brussels plans to press ahead with its approach to AI governance.

Explosive new financial disclosures reveal how wealthy elites are literally buying face time with Donald Trump, according to a New York Times report Saturday.

A figures, shared in filings by MAGA Inc., a super PAC funding much of Donald Trump’s political machine, exposes a stunning pay-to-play scheme operating at the highest levels of American government. The donor list reads like a who’s who of crypto moguls, influence peddlers, and favor-seekers—all willing to write massive checks for a seat at Trump’s table, the Times reported.

MAGA Inc. raked in a jaw-dropping $177 million in just the first half of 2025, with many top donors scoring coveted invitations to exclusive dinners at Trump’s Mar-a-Lago resort.

Eric Schiermeyer, a crypto entrepreneur, ponied up $1 million for a Mar-a-Lago dinner in March where he pitched a government-backed cryptocurrency called “USA Token” that would be distributed to every American—with his company handling the lucrative contract, the report stated.

“I was able to say my piece, and the idea is clearly making the rounds, so mission accomplished from my view,” Schiermeyer boasted to the Times.

The donor roster also features several individuals who mysteriously landed plum administration appointments shortly after cutting checks. Surgeon Anjani Sinha donated $1 million in February and was promptly nominated as ambassador to Singapore—though his confirmation hearing saw Sinha struggling to answer basic questions about the country he was supposed to represent.

Energy investor Cody Campbell paid $500,000 and secured a spot on the President’s Council on Sports, Fitness, and Nutrition, while finance executive Josh Lobel bought his way onto the President’s Intelligence Advisory Board for $250,000.

Perhaps most disturbing is the case of Elizabeth Fago, who contributed $1 million and attended an April dinner with Trump. Just three weeks later, her son Paul Walczak—a healthcare executive who had pleaded guilty to tax fraud—received a presidential pardon.

An unnamed White House official claimed the pardon wasn’t about the money: “He spoke directly to a mother who pleaded for her son, and when you’re talking to a mother pleading for her son, that’s a pretty powerful thing,” the official told the Times.

A MAGA Inc. spokesperson told the Times, “President Trump values his supporters and donors, but unlike politicians before him, he cannot be bought and works toward the best interest of the country.”

As fallout continues from the latest jobs report that showed a dramatic slowdown in job growth, business leaders are warning that the current market slowdown is “only the beginning,” and that the impacts of President Donald Trump’s tariffs are already well underway, Politico reported Friday.

“Inflation and price increases are coming,” said Greg Ahearn, president and CEO of the Toy Association, speaking with Politico. “Layoffs have already been occurring, and supply is going to be lower as we head into the holiday season. These are all happening.”

Trump unveiled the latest tariff rates on Thursday, set to go into effect on Aug. 7, with tariff rates as high as 50% on major trading partners. Among countries hit with the top rate of 50% is Brazil, with imported Brazilian coffee representing 33% of all coffee consumption in the United States.

“I think most people believe wholeheartedly that the impact of these tariffs is going to be felt in the months ahead,” Ahearn said. “And the reason why is that production and manufacturing and the goods as they flow through the supply chain takes time.”

Another cause for concern among business leaders was the unpredictable nature of the tariffs, with among the United States’ largest trading partners – Canada, China and Mexico – still negotiating with Trump as of Saturday, just days before tariffs are set to take effect.

Doubt also exists among business leaders regarding countries that Trump has already reached a trade agreement with, many of which are only verbal or exist solely on a single letter, with no clear commitments from both parties.

“If you’re a business and you’ve got global supply chains and you’ve got to make investments, it really matters that some countries are still in negotiations and certain countries are not in negotiations,” said Mohamed El-Erian, chief economic adviser at the financial services company Allianz, speaking with Politico.

“Where are Mexico and Canada gonna end up? We seem to know Vietnam, but do we really know Vietnam? It’s not clear yet.”

Ukrainian President Volodymyr Zelensky has called on allies to push for “regime change” in Russia following a deadly overnight attack on Kyiv that killed seven people, including a six-year-old boy. The Russian drone and missile strikes reduced parts of a nine-storey apartment block in the capital’s western suburbs to rubble, wounding dozens, according to Ukrainian authorities.

Speaking virtually at a conference marking 50 years since the Helsinki Accords, Zelensky warned that without regime change in Moscow, Russia would continue to destabilise neighbouring countries even after the war ends. “If the world doesn’t aim to change the regime in Russia, Moscow will still try to destabilise,” he said.

The attack involved over 300 drones and eight cruise missiles, with Kyiv as the primary target, Ukraine’s air force reported. One missile tore through a residential building, leaving debris and personal belongings scattered, as rescuers searched the wreckage. Tymur Tkachenko, head of Kyiv’s military administration, confirmed the deaths, noting the young boy died in an ambulance.

Meanwhile, Moscow claimed to have captured Chasiv Yar, a strategically vital town in eastern Ukraine’s Donetsk region, a claim denied by Ukrainian forces. A Ukrainian army spokesperson called Russia’s statement “lies,” asserting control over the town. Chasiv Yar’s capture would aid Russia’s advance toward key Ukrainian strongholds like Kramatorsk and Sloviansk, as Russia prioritises control of Donetsk, which it claimed in 2022.

The strikes follow US President Donald Trump’s recent ultimatum for Russia to halt its nearly three-and-a-half-year invasion within 10 days or face sanctions. Ukraine’s Foreign Minister Andriy Sybiga urged stronger measures, stating on X that it was time to make Russia “feel the pain and consequences” of its actions.

Russia, which denies targeting civilians, has not responded to the Kyiv strike or Zelensky’s remarks. Russian President Vladimir Putin has previously called for Zelensky’s removal, questioning his legitimacy.

With inflation and unemployment rising, a majority of Americans say President Donald Trump is to blame for increased prices and the high cost of living, as many turn to credit cards and other high-interest vehicles to pay for their purchases, a new poll finds. Some are skipping meals just to make ends meet, some spend time daily worrying about how they are going to pay their bills, and many are forced to turn to friends and family for financial support.

“American families are struggling financially, and 6 in 10 place blame on Donald Trump for driving up their cost of living,” reported progressive think tank The Century Foundation, with data from a Morning Consult poll that it sponsored. “More than half believe that billionaires, corporations, and congressional Republicans have made their lives harder,” while the “majority of voters feel the Trump administration’s actions are making their problems and anxieties worse—not better.”

Overall, a staggering four out of five Americans (83%) are concerned about the cost of groceries, including 46% who say they are “very concerned.”

Almost half (47%) worry about being able to pay their rent or mortgage, almost one in four say it would be difficult to pay for an unexpected home or medical emergency—and many would have trouble paying even a $500 expense.

“This financial insecurity is widespread across demographic and income groups—although it is more pronounced among groups such as younger Americans, Americans of color, women, and lower-income Americans,” the report stated.

For many Americans, anxiety about money is a daily experience, and a large majority worry that things are going to get worse.

“A shocking 1 in 4 Americans (24 percent) say they spend at least three hours on a typical day worrying about their finances and ability to afford basic necessities. More than 4 in 10 spend at least one hour per day,” according to the report. “While low- and middle-income Americans express the strongest financial concerns, one-third of those with incomes above $100,000 also spend at least an hour concerned about their finances on a typical day.”

President Donald Trump’s tariffs are a major concern for many Americans as well.

49% believe Trump’s tariffs will make the cost of goods made overseas more expensive, and nearly seven in ten say they believe Trump’s tariffs will increase prices.

The Century Foundation published a video detailing its findings.