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Banks face a hit to their bottom lines of as much as $170 billion if they don't adapt their business models to respond to customers turning to AI to optimize their finances. From a report: The consultancy firm predicted that customer uptake of agentic AI -- effectively autonomous bots -- would hit the profits banks earn from customer money in low interest accounts, according to a report from McKinsey published Thursday. "Imagine you have an AI agent that says: 'Hey, you could save $2,000-a-year by moving your money,'" Pradip Patiath, a senior partner at McKinsey, said. "It automates a lot of the inertia that is in the system today." Consumers hold $23 trillion out of a total of $70 trillion in accounts with close to zero interest rates, while the remainder is held in accounts that often pay relatively low rates, according to the research. Customer use of AI agents could lead to a 9% profit drop for banks, some $170 billion, if they do not change their business models. That could push average returns for banks below their cost of capital, the consultants said.

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A man's body was found wrapped in a sheet on the side of the road

Romantic evenings dining on the best cuisine in the world with charming Italian men, against a backdrop of culture - this is what Chelsea Arganbright expected when she moved to Rome.

In the video, the Manchester City star, 25, takes supporters through his daily routine, including cooking meals with his girlfriend Isabel Haugseng Johansen.

Yet the events of that day, played out in a Belfast courtroom more than half a century later, were among the most momentous in the 30 years of violence that once gripped Northern Ireland.

Plus: Model 3/Y recall over battery-pack contactors that can cut drive power

Feeling a bit blinded by the light when a Cybertruck rolls by? It's not just you — Tesla's recalling most built to date because the boxy pickup's front parking lights are too bright.…

Sir Keir Starmer in June bowed to intense pressure to implement a full national probe into group-based child sex abuse.

UN Secretary-General Antonio Guterres says it is now clear that efforts to cap global warming at 1.5C above pre-industrial levels will fail in the short term. AFP: Before next month's COP30 climate summit in Brazil, Guterres said going beyond 1.5C would result in "devastating" yet predictable impacts. "One thing is already clear: we will not be able to contain the global warming below 1.5C in the next few years," Guterres said at the UN's World Meteorological Organisation (WMO) weather and climate agency in Geneva. "Overshooting is now inevitable. Which means that we're going to have a period, bigger or smaller, with higher or lower intensity, above 1.5C in the years to come." However, if leaders start taking the problem seriously by driving towards net zero greenhouse gas emissions, "the 1.5 still remains -- according to all the scientists I met -- possible before the end of the century."

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Rajan Naidu, 74, said that the canisters used to blast an orange powder were the same used in the Hindu festival of colour.

Claudia Winkleman has broken her cover and been pictured for the first time since quitting Strictly Come Dancing - as insiders claim she led co-host Tess Daly to exit alongside her.

Union officials are being granted 'statutory right of access' to all but the smallest of businesses under the Employment Rights Bill to 'meet, support, represent, recruit or organise workers'.

Mauritarian immigrant Anopkumar Maudhoo made £8.5m out of 45 victims, using the cash to snap up a Lamborghini, a rare Aston Martin and other supercars.

The image is as stark as it is frightening: two men run along a beach towards a waiting boat on the coast of France - each holding the arm of a girl who can barely keep up.

A mother-of-three is often told she looks a decade younger--a transformation she puts down to cutting out refined carbohydrates, reintroducing full-fat products into her diet and focusing on protein.

Met Police officer Joe McIlvenny, pictured, has been sacked from the force at a special misconduct hearing in south London today following the recent BBC Panorama film

Stellan Skarsgard joked that he's a 'nepo daddy' - six of his eight children have followed him into acting - but he admits the 'nepo baby' tag isn't all fun and games.

The director controls a number of fast food franchises

In one of Britain's worst ever scam cases, the woman from Kent clicked on an advert on Facebook for a firm claiming to offer Bitcoin investments backed by Martin Lewis .

Tess Daly and Claudia Winkleman 's shock decision to quit Strictly Come Dancing is the start of the show's slow and painful death, insiders warned today.

King Charles and Queen Camilla were introduced to Pope Leo XIV in the Apostolic Palace library - the traditional place for such meetings - after arriving in the San Damaso Courtyard.