Breaking AI & Tech News Analyzed

Revolut, the UK banking app, has reported a 57% increase in profits for 2025, but warned that its support for energy-intensive sectors such as crypto and AI could lead to a reputational risk. The fintech company, which can now launch as a fully fledged UK bank after a five-year wait for regulatory approval, offers crypto trading and has applied for a banking licence in the US.The company's annual report highlighted that cryptocurrency mining and AI datacentres demand large amounts of power, with competition for electricity supplies getting steeper since the US-Israel war on Iran sent energy prices soaring over the past month. Revolut's chief executive, Nik Storonsky, hailed another “landmark year” for the company, which has 68.3 million individual customers and 767,000 business customers.Revolut's growth has been rapid, with revenues climbing 46% to £4.5bn and a £1.7bn pre-tax profit for 2025. The company plans to offer a wider array of banking services in the future, such as lending and other products, and has launched mortgage refinancing in Lithuania. Despite the potential risks, Revolut believes its digital-first approach and emphasis on financial inclusion could lead to it being “relatively insulated and even benefit from an orderly energy transition, relative to traditional financial institutions”.

England manager Thomas Tuchel has made two significant inclusions in his squad for the upcoming friendlies against Uruguay and Japan at Wembley. Ben White, the Arsenal right-back, has been recalled to the squad after a period of exile that began during the 2022 World Cup in Qatar. White's return comes after Jarell Quansah was forced to withdraw due to injury. White, who has four England caps, last played for the national team in March 2022 against Côte d'Ivoire. His absence from the squad was partly self-imposed, but Tuchel indicated in March that White wanted to return. This season, White has struggled for regular game time at Arsenal, starting only five Premier League games. In addition to White's recall, Tuchel has called up Harvey Barnes from Newcastle as a replacement for Eberechi Eze, who has withdrawn with a calf injury. Barnes, who has scored 14 goals in all competitions this season, is second on Newcastle's scoring charts, trailing only Anthony Gordon. He previously earned his only England cap as a substitute against Wales in October 2020 under Gareth Southgate. Notably, Scotland had been attempting to lure Barnes for their World Cup squad. Tuchel's squad selection has been influenced by injuries, particularly the hamstring injury to first-choice right-back Reece James. Trent Alexander-Arnold was not recalled, and other options at right-back include Tino Livramento and Djed Spence. England will host Uruguay on Friday, followed by Japan on Tuesday at Wembley.

The recent decision by the Small Business Administration (SBA) to deny loans to small business owners who are not US citizens has raised concerns about the politicization of the agency. Kelly Loeffler, the new administrator of the SBA, announced that the agency would no longer approve loans to small business owners unless they are US citizens, effectively excluding legal immigrants with green cards and full residency from accessing loans.This move has been criticized for being a political decision that harms small businesses and the economy. The SBA's mission is to support small businesses, which are the backbone of the US economy. By denying loans to certain entrepreneurs, the agency is limiting access to capital and hindering the growth of small businesses that could benefit their communities and the country at large.The decision is also seen as a reaction against the Biden administration's efforts to promote diversity and inclusion. Under Biden, the SBA had often featured diverse groups of business owners in its marketing materials, but this new policy seems to be tailoring the message to serve the Trump administration's political agenda.Supporting small businesses should not be a controversial position, and most of the time it is not. However, the SBA's politicization has made it a propaganda tool for the party in power, rather than a neutral agency serving the interests of small businesses.To address this issue, some suggest taking the SBA out of the government and spinning it off into a separate entity, similar to the Manufacturing Extension Partnership or the MITRE Corporation. This entity would be funded by both the government and private industry and would be required to report to Congress through its existing small business committees.The goal of this new entity would be to coordinate government loan guarantees, assist with federal funding, and provide training, counseling, and support to small businesses. This would help to insulate the agency from political cycles and ensure that it serves the interests of small businesses, rather than the interests of the party in power.