Bank of England Gains Authority to Oversee Major Tech Giants Like Amazon and Google

Starting next week, the Bank of England will have the authority to regulate key technology firms, including Amazon and Google, to mitigate risks that could threaten the UK's financial stability. Alongside the Financial Conduct Authority (FCA), they will monitor critical third-party providers such as Oracle and Microsoft, ensuring these companies maintain strong cyber defenses and reduce the chances of outages or cyber-attacks that could affect millions across the UK.