Bank of England handed powers to regulate key tech firms including Amazon and Google

Starting next week, the Bank of England and the Financial Conduct Authority will oversee major tech firms like Amazon Web Services, Google Cloud, Oracle, and Microsoft, which provide critical cloud and tech services to UK banks. These firms must demonstrate resilience through stress testing and promptly report major incidents to mitigate risks to financial stability and consumer services. This regulatory move addresses concerns over the reliance on a few foreign tech providers and aims to reduce