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

Britain's banking regulators are taking direct control of some major cloud infrastructure providers. Starting Monday, the Bank of England and Financial Conduct Authority will oversee Amazon, Google, Oracle, and Microsoft to ensure they're protecting their systems against cyber-attacks and outages that could disrupt UK financial services. According to the Guardian, this new authority reflects growing concern that a major system failure at any of these tech giants could threaten financial stability for the entire country.

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