Private credit firms can still whiff if algorithms do the work, but the onus is on them.
Lenders are leaning on artificial intelligence to score borrowers, monitor portfolios, and automate workflows that once took analysts weeks. Momentum is only building: More than half of private credit portfolio managers—54%—plan to deploy AI in underwriting, according to a March PwC survey of 120 global firms.
But as AI takes on more of that analytical heavy lifting, firms face a tough question: When an algorithm makes a mistake, who bears the blame?
For credit risk expert Naeem Siddiqi, author of Intelligent Credit Scoring and senior risk advisor at SAS, the answer is clear: Don’t fault AI; it’s just a tool.
If the large language model, or LLM, miscalculates a number or uses a prohibited category like race or religion, “then the lender is liable,” he said in an email. The courts already tested that principle — that a company can’t hide behind its own algorithm. Guess what? The company lost.
‘An Emerging Discipline’
Take Moffatt v. Air Canada for example. One of the airline’s customers used its chatbot in 2022 to ask about bereavement fares following a death in his family. The chatbot told him he could book a full-fare ticket and apply for a refund within 90 days, advice that contradicted Air Canada’s actual policy requiring passengers to submit such requests before travel.
When the customer tried to collect, Montreal-based Air Canada argued it shouldn’t be held liable, effectively treating the chatbot as a separate entity responsible for its own statements.
The British Columbia Civil Resolution Tribunal rejected that defense, found Air Canada liable for the error and ordered the airline to pay $812.02 Canadian dollars, including CA$650.88 in damages plus interest and fees.
Siddiqi said the ruling set a precedent: “Companies can’t argue that the AI is a separate independent entity that frees the firm from liability.”
He pointed to a broader wave of AI-related litigation in the U.S. where legal exposure extends far beyond chatbots and the airline industry. Currently, there are copyright suits against LLM developers, including Anthropic. However, in other scenarios, the company wielding the tech bore the brunt of scrutiny.
Last year, facial-recognition company Clearview AI faced privacy litigation while software firm Intuit and HR tech firm HireVue received a discrimination complaint alleging their AI hiring tools disadvantaged a deaf, Indigenous job applicant.
“This is an emerging discipline,” Siddiqi said, “but it’s safe to assume the lender is liable for discriminatory decisions made on its behalf, whether by a human or an AI.”
Risk Sits With Lender
For private credit firms racing to deploy AI across underwriting and portfolio monitoring, the early case law sends a signal: The technology can do the work, but it doesn’t absorb the risk. That still sits with the lender.
“Legally and regulatory-wise, the buck stops entirely with the lender,” said Omar Abassi, founder of Newport Beach-based lending tech startup LoanFlo AI.
So far, regulators such as the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and the U.S. Department of Housing and Urban Development have made it clear: You can’t delegate your compliance obligations to a software vendor, Abassi said.
If an AI algorithm introduces algorithmic bias, violates the Equal Credit Opportunity Act, or fails to provide legally compliant adverse action notices, regulators sue or fine the lender—not the AI company.
Because of this legal exposure, some lenders require vendor platforms to provideaudit trails showing exactly what the AI read, and regular back-testing to prove the AI model does not inadvertently produce discriminatory outcomes.
Treating AI Like an Employee
That gap between high market interest and actual operational risk is top-of-mind for technology leaders building loan administration tools.
“There’s a general enthusiasm in the market around AI … and firms are very excited about diverse capabilities,” said David Yahalomi, chief operating officer and co-founder of Tel Aviv-based loan-management platform Hypercore. “But this technology is a statistical-based technology … it can make mistakes, and we’ve all seen that.”
Rather than viewing AI as a replacement for decision-makers, Yahalomi suggested lenders treat AI like a new hire who requires guidance and thorough review.
“We should treat it like it’s an employee,” Yahalomi said. “Even if you feel like you’ve trained your best agent … think about it like you gave a deal to your best person five minutes ago. Would it give you the correct answers, or does it need proper time to actually go and research?”
Ultimately, Yahalomi cautioned against granting agents final authority over deals: “We should not treat it as a person that makes calls … you shouldn’t treat it as an executive.”
What’s Next
The balance between strict regulatory oversight and day-to-day workflow is where human teams feel the pressure most. As LLMs become more ubiquitous, too few humans are taking on too much work and leaning heavily on AI-driven underwriting.
“Underwriters are definitely taking on too much work in traditional setups and being overworked in many cases, which leaves more room for human error,” Abassi said. But don’t expect AI to replace credit risk assessment; instead, it’s closing the gap so that fewer underwriters can underwrite many more loans and be less stressed as a result.
“Eventually, the AI will be so good that human underwriters won’t be able to keep up,” he added. “AI agents will be the ones reviewing the other AI’s work. We aren’t there yet, but ultimately it’s on its way.”
Anthony Noto covers corporate finance and private credit. Contact him at anoto@gfmag.com.
Emmerdale is reportedly losing some familiar faces and gaining both old and new characters on the ITV soap, but are Dawn Taylor, Vinny Dingle and Jimmy King leaving?
Emmerdale fans are wondering who is really leaving the ITV soap (Image: ITV)
Emmerdale fans are wondering who is really leaving the ITV soap and who’s staying put.
In recent months, a handful of names have been reported as cast members leaving the show. As it stands, both cast and the show have yet to comment on the claims.
There are some confirmed returns to the village however, and some teased ones too. We’ve had loads of new faces, temporary and permanent, in recent months too, so could there be more on the way? This is all we know so far about upcoming cast changes and news, including FOUR exits and two returns…
Who’s leaving Emmerdale?
Dawn Taylor
It’s been claimed Dawn Taylor is leaving the show after eight years. Actress Olivia Bromley was said to be written out of the show, while the soap has not confirmed this.
She’s centre stage on the show at the moment, with possible feelings for her ex Billy Fletcher ahead of her wedding to Joe Tate. Dawn is pregnant with Joe’s baby, and now fans think she might flee Joe and the village like she had planned to months earlier.
Jimmy King
A shocking exit rumour is that Jimmy King will leave the show after more than 20 years. It was reported recently that actor Nick Miles has been axed from the show after two decades.
Fans have been left furious by the reports, that have not been backed up by the show. It’s claimed Jimmy will be killed off in devastating scenes later this year, while onscreen at the moment it’s teased he might split from his wife Nicola King.
Vinny Dingle
Another unexpected exit announcement claimed Vinny Dingle is leaving the show after seven years. Actor Bradley Johnson is another cast member said to be axed from the show, while this has not been confirmed.
Vinny only recently embarked on a romance with Lewis Barton, amid a huge storyline months earlier that saw Vinny struggling with his sexuality. So the news that Vinny could be leaving left fans baffled.
Noah Dingle
Fans were also stunned when it was reported that Noah Dingle will leave the show after 22 years. Actor Jack Downham has played him since 2009.
It’s claimed writers have axed Charity Dingle’s son from the show, and onscreen Noah has told some family members he plans to work abroad. Again this is not an exit confirmed by the show or its cast, but it’s thought Noah will leave soon.
Who’s returning to Emmerdale?
A Tate?
Just weeks ago, soap boss Laura Shaw teased a Tate was heading to the show. She didn’t specify whether it was a brand new character entirely, or a past Tate character.
There’s still no news on this, while Mirror will be dropping some new hints very, very soon so stay tuned. For now, fans have been speculating whether it’s a new character like Serena Sugden, or if we might see Jamie Tate return to the show, amid Serena targeting Kim Tate.
Sadie King
The big return coming up is Sadie King, who will return to the village very soon first the first time in 20 years. Actress Patsy Kensit is reprising the role, and the Mirror caught up with her recently – so keep an eye out for that interview!
Sadie left in dramatic fashion in 2006, so what has brought her back after all these years? There’s trouble, secrets and plenty of drama on the way!
Victoria Sugden
Victoria Sugden is heading back to the show at some point, after she fled earlier this year. Actress Isabel Hodgins is currently on maternity leave after welcoming her first child this year.
Isabel was recently spotted on the set, sparking return claims. That said, Isabel previously stated she would like to return around September time, but she’s not completely sure when she will be ready – but she definitely is going back at some point.
Are there any new characters joining?
There’s been no news about some new characters joining soon. That said, there’s not always an announcement, while there was for the likes of Kev Townsend and Serena Sugden.
Recently, Kev’s pal Steve, played by actor Jason Done, joined temporarily. Then there was Kev’s old flame Kylie too, and some other guest roles along the way.
So, there’s new faces all the time and we can expect more. Whether there’s an actual new character joining remains to be seen. If the Tate arrival is a new Tate, then that will be a new character!
United States Secretary of State Marco Rubio is hosting more than 65 countries for a conference focused on political violence from the far left, a designation that a number of critics say is being used to target legitimate opposition.
The “Ministerial on the Resurgence of Political Terrorism”, taking place on Thursday, brings together government representatives from around the world to coordinate on what the US Department of State calls a “renewed threat” that has “remained a blind spot in the international community’s counterterrorism focus”.
Critics, including the American Civil Liberties Union, told the Reuters news agency that “the far-left terrorism designations could be used to target lawful protest activity and political opponents rather than genuine security threats.”
Here’s what’s driving the summit and who’s attending:
What is this summit about?
The Trump administration’s 2026 counterterrorism strategy identifies three primary threats: “Islamist terrorism”, “narco-terrorism”, and “violent left-wing extremists, including Anarchists and Anti-Fascists”.
The strategy states that the third category of left-wing “extremists” has been traditionally ignored, and notes that Charlie Kirk’s assassination in September 2025 was executed “by a radical who espoused extreme transgender ideologies”.
The counterterrorism strategy omits right-wing extremism and white supremacist groups, despite growing instances of violence that some of these outfits have been accused of – including several of those who attacked the Capitol on January 6, 2020, in an attempt to overturn the US presidential election that Donald Trump lost.
Thomas Renard, director of The Hague-based International Centre for Counter-Terrorism, said the summit reflects a fundamental shift in how the US sees the threat.
“What we are seeing now in the United States is that counterterrorism has been completely politicised, instrumentalised,” he told Al Jazeera. “For instance, the threat from far-right terrorism, which was for decades considered as the primary domestic threat, has now completely disappeared from the US counterterrorism strategy.”
Who has been invited?
Invites went to more than 70 countries as the State Department wrote on social media that countries had shown “overwhelming interest”. It is reported that Israel’s Foreign Minister Gideon Saar will be present alongside representatives from multiple countries. The stated aim is to “expand coordination, enhance information sharing, and strengthen international law enforcement mechanisms”.
The summit follows a series of smaller meetings held earlier this year, including one in The Hague with law enforcement officials.
Renard says many European nations are expressing their unease with this ministerial meeting by sending relatively junior ministers.
“They are not particularly convinced that this is a topic that justifies this type of gathering, but at the same time, they don’t want to antagonise the United States either. And therefore, this is the compromise they found,” he said.
In November, 2025, the US designated four European groups as terrorist organisations: The German Antifa Ost, the Italian Informal Anarchist Federation/International Revolutionary Front (FAI/FRI), the Greek Armed Proletarian Justice and the Greek Revolutionary Class Self-Defense.
What is “far-left terrorism”?
The term is usually used by governments to describe movements accused of violence and driven by left-wing ideologies, including Marxism, socialism, or anarchism. Such movements usually describe themselves as anti-capitalist and anti-imperialist.
Latin America saw several left-wing armed movements during the Cold War, a number of which carried out sustained campaigns of political violence, such as Colombia’s Revolutionary Armed Forces of Colombia (FARC), the Farabundo Marti National Liberation Front (FMNL) in El Salvador and the Tupamaros in Uruguay. Throughout the 20th century, Washington repeatedly backed hardline right-wing regimes that opposed left-wing movements across Latin America.
India has been dealing with the Naxalite rebellion, a far-left Maoist movement that started in the 1960s and claims to fight for the rural population. The group is seen as one of India’s most serious internal security threats. At its peak, about the year 2000, thousands of people were killed due to the conflict with the Naxalite rebellion.
During the 1970s and 1980s, Marxist groups like the Red Army Faction in West Germany were behind several assassinations, abductions and bombings that they argued were aimed at weakening the capitalist state.
By contrast, the Antifa movement, which the Trump administration has consistently tried to portray as a major violent threat, is a loose, decentralised collection of socialist-leaning individuals opposed to far-right extremism, white supremacy and authoritarianism. Several individuals described by prosecutors as Antifa members have been indicted on accusations of violence in US courts, especially in states like Texas that are ruled by Trump’s Republican Party, since he returned to power. In June, eight such individuals were sentenced to several years in prison: Benjamin Hanil Song, convicted of the attempted murder of a law enforcement officer, was sentenced to 100 years in prison.
Far-right political violence and terrorism in the US
But the same Trump administration has pardoned all those charged with violence during the January 6, 2023 insurrection, including individuals accused of beating police officers.
This week’s summit also specifically focuses on far-left political violence but does not include the threat from far-right ideology and terrorism, similar to the counterterrorism strategy.
This, even though the Oklahoma bombing, which killed 168 people and wounded nearly 700 in the deadliest act of domestic terrorism in the US, was carried out by the right-wing hardliner Timothy McVeigh.
The Cato Institute, a US think tank in Washington, DC, stated in February that of politically motivated terrorism on US soil between 1975 and 2025, excluding the Oklahoma bombing and 9/11, “right-wing terrorists account for 45 percent of people murdered, Islamists are responsible for 32 percent, left-wing terrorists are responsible for 16 percent.”
Renard says the summit creates the very problem it claims to solve: “The United States, with this summit and with its strategy, is creating, actually, a blind spot about far-right terrorist threats, as that threat is strongly anchored and rooted in the United States.”
The 2026 World Cup will launch with a series of historic opening ceremonies across North America, marking the first time the tournament has been launched simultaneously in three host countries.
The United States, Mexico and Canada will officially launch the biggest World Cup in history.
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While the US hosted the tournament in 1994 and Mexico in 1970 and 1986, Canada will host the competition for the first time. Together, the three countries will open the tournament.
This World Cup will feature a record 104 matches spread across 16 host cities. The global event will run from the opening match in Mexico on Thursday, June 11, to the final on Sunday, July 19, in New York.
Here is what we know:
What are the 2026 FIFA World Cup opening ceremonies?
The three interconnected ceremonies staged across Mexico, Canada and the US are built around a shared theme designed to unite the three host nations while showcasing each country’s culture, identity and creative talent.
Each event will begin 90 minutes before the host nation’s opening match.
The ceremonies are being produced by Marco Balich, the creative director behind several Olympic opening ceremonies, including the 2026 Winter Games edition and major international sporting events. While each show will have its own distinct character, all three will be linked by a shared theme centred on football’s ability to unite people across borders.
Each host country will bring its own visual style to the ceremonies. Canada will be represented through a cultural mosaic, Mexico through papel picado, and the US through what Balich called “a super shiny, glowing cup”.
“The FIFA World Cup is a moment the world shares, and that begins with how we open it,” said FIFA President Gianni Infantino.
“Starting with Mexico City and continuing the next days with Toronto and Los Angeles, these ceremonies will bring together music, culture and football in a way that reflects both the individuality of each nation and the unity that defines this tournament. It is a powerful way to begin a truly global celebration.”
According to The Athletic, the ceremony in Mexico City is expected to run for about 16 minutes and 30 seconds, while the shows in Toronto and Los Angeles are scheduled to last approximately 13 minutes each.
Once the performances conclude, the pitch will be handed over to the teams for their pre-match warm-ups. Matchday protocol ceremonies, including the player walkouts and official introductions, will then begin 25 minutes before kickoff and are expected to last about 13 minutes.
Who is playing in the opening games?
Mexico will face South Africa in the first match of the tournament, which will take place following the opening ceremony in Mexico City.
Canada will play against Bosnia and Herzegovina in Toronto, marking a historic milestone as it will be the Canadian Men’s National Team’s first World Cup match played on home soil.
The US will take on Paraguay in their opening match following the celebration in Los Angeles.
When and where are the World Cup opening ceremonies?
Mexico City (June 11)
Mexico will launch the tournament at Mexico City Stadium (formerly known as the Estadio Azteca) 90 minutes before its opening match against South Africa, in a repeat of the 2010 opener.
The ceremony is expected to celebrate Mexican culture through Indigenous performers, contemporary folkloric acts and the traditional art of papel picado.
Artists featured on the Official FIFA World Cup Album are expected to perform, including Alejandro Fernandez, Belinda, Danny Ocean, J Balvin, Lila Downs, Los Angeles Azules, and Mana. The show will also include South African singer-songwriter Tyla.
Shakira is also expected to perform her Dai Dai – an Italian phrase meaning “let’s go” or “come on” – along with Burna Boy. Shakira is also set to co-headline the inaugural FIFA World Cup Final Halftime Show on July 19, alongside Madonna and K-pop band BTS.
Authorities have declared June 11 a public holiday in Mexico City, with schools closed and employers encouraged to allow remote work. Access to the stadium area will be restricted to ticket holders, accredited media and authorised personnel.
Opening day schedule in Mexico 9:00 (15:00 GMT): Stadium gates open 11:00 (17:00 GMT): Opening ceremony begins 12:10 (18:10 GMT): Team warm-ups 13:00 (19:00 GMT): Mexico vs South Africa kickoff
Toronto (June 12)
Canada’s ceremony will take place at Toronto Stadium before the country’s World Cup match against Bosnia and Herzegovina. The opening ceremony in Toronto will kick off at 1:30pm local time (17:30 GMT).
The ceremony will begin with a unique countdown designed to take viewers on a “journey across Canada”, highlighting moments that reflect the nation “from coast to coast to coast”.
Centred on the theme of a cultural mosaic, the event will highlight Canada’s diversity through music and performance, with artists including Alanis Morissette, Alessia Cara, Elyanna, Jessie Reyez, Michael Buble, Nora Fatehi, Sanjoy, Vegedream and William Prince.
The match immediately following the ceremony against Bosnia and Herzegovina is deeply significant, as it will be the first FIFA World Cup match to be played by the Canadian Men’s National Team on home soil.
FIFA President Gianni Infantino noted that the Toronto ceremony will be a “powerful reflection of Canada’s identity” and a “moment of pride, unity and anticipation” as the country steps onto football’s biggest stage.
Opening day schedule in Canada
13:30 (17:30 GMT): Opening ceremony begins. 15:00 (19:00 GMT): Canada vs Bosnia and Herzegovina kicks off.
After the ceremony concludes, the teams will complete their warm-ups before the official pre-match proceedings and kickoff at 3pm local time (19:00 GMT).
Los Angeles (June 12)
The US will host its opening celebration at the Los Angeles Stadium before facing Paraguay.
The ceremony will feature large-scale visuals, immersive storytelling and performances from global artists including Katy Perry, Future, Anitta, LISA, Rema and Tyla.
FIFA President Gianni Infantino highlighted that this specific artist lineup was chosen to reflect the cultural diversity and vibrant diasporas of the US, showcasing the nation’s considerable influence on global pop culture, music, and entertainment.
Opening day schedule in US
16:30 (23:30 GMT): Opening ceremony begins 18:00 (01:00 GMT June 13): The US vs Paraguay kicks off.
How can you watch the World Cup opening ceremony?
Fans in the US can watch the opening ceremonies through FIFA’s official broadcast partners. English-language coverage will be available on FOX and FS1, while Spanish-language coverage will air on Telemundo and Universo.
For free streaming, Tubi will simulcast the opening ceremonies and the opening matches, including Mexico vs South Africa on June 11 and the United States vs Paraguay on June 12.
All 104 World Cup matches will also be available through the FOX One app (subscription required), while Spanish-language viewers can stream every match on Peacock and the Telemundo app.
International broadcasters include:
Canada: CTV, TSN and RDS
Mexico: Televisa and TV Azteca
United Kingdom: BBC and ITV
How many fans are expected to attend and watch?
FIFA has not released an official number for the opening ceremonies. However, the three events are expected to fill their host venues in Mexico City, Toronto and Los Angeles, with a combined live attendance of roughly 200,000 spectators.
The ceremonies will also be broadcast worldwide as part of the opening match coverage, likely attracting a global television audience in the tens or hundreds of millions.
Are the hosting nations facing any challenges before the ceremony?
Yes. In Mexico City, ongoing protests by teachers’ unions and other groups have raised concerns about possible disruptions before the opening match between Mexico and South Africa.
Protesters have threatened to block major roads leading to Mexico City Stadium and other key locations. Authorities have responded with a large security operation and say the opening ceremony is not at risk, although organisers remain on alert as the tournament approaches.
In Los Angeles, officials have focused on security planning, crowd management and preparations for large-scale events across the city. Local authorities have also said they do not expect immigration enforcement operations at World Cup venues.
In Toronto, organisers are preparing for an influx of visitors, with transport agencies adding services and coordinating plans to reduce congestion. Across all three host nations, security and logistics remain key priorities as the tournament gets under way.
People walk near the fallen statue of a football player, placed along Avenida Reforma for the 2026 FIFA World Cup, that was vandalised by teachers from Mexico’s National Coordination of Education Workers (CNTE), following a protest demanding better wages and pensions, under the slogan “If there’s no solution, the ball won’t roll,” in Mexico City [Henry Romero/Reuters]
The FIFA World Cup begins on June 11. You can follow the action on Al Jazeera’s dedicated World Cup 2026 page with all the latest news, match build-up and live text commentary, and keep up to date with group standings, real-time match results and schedules.
It’s Broadway’s time to shine Sunday when the 79th Tony Awards take New York City.
Broadcast live from Radio City Music Hall, the night promises plenty of onstage drama and hopefully some real-life intrigue. The number of new Broadway productions this year — 30 — shrunk from last year’s 42, but there are still some standout shows and performances to watch out for, from flashy revivals like “Cats: The Jellicle Ball” to Laurie Metcalf’s stunning turns in both “Death of a Salesman” and “Little Bear Ridge Road.”
Grammy Award winner Pink is hosting for the first time, and though the pop star lacks direct Broadway roots, her songs have been featured in the jukebox musicals “Moulin Rouge!” and “& Juliet.”
Here’s everything else you should know about this year’s ceremony, including how to tune in.
How can I watch?
The three-hour awards ceremony will air live on CBS on Sunday at 5 p.m. Paramount+ premium-level subscribers can also stream it on the app, while those with other membership tiers can watch the show on-demand after it airs.
The annual pre-show, “The Tony Awards: Act One,” will stream live on free service Pluto TV at 3:35 p.m. that same day. It is hosted by Tony Award nominee Laura Benanti and actor Tituss Burgess and includes the first round of Tony Award presentations.
Who is performing?
This year’s opening number, a show-stopping Tonys tradition, will feature more than 170 Broadway performers. It’s choreographed by Sarah O’Gleby and written by Benj Pasek, Justin Paul and Mark Sonnenblick.
As always, casts from the productions nominated for best musical — “The Lost Boys,” “Schmigadoon!,” “Titaníque” and “Two Strangers (Carry a Cake Across New York)” — and for best revival of a musical — “Cats: The Jellicle Ball,” “Ragtime” and Richard O’Brien’s “The Rocky Horror Show” — will perform during the ceremony.
Rachel Zegler will pay tribute to “A Chorus Line” and Tony Award winner Leslie Odom Jr. will perform “Without You” from “Rent” to honor the show’s 30th anniversary as well as those in the theater community who have died this year.
The “Chicago” revival will also celebrate its 30th anniversary on Broadway with a performance from stars including Queen Latifah, who was nominated for an Academy Award for her portrayal of Matron Mama Morton in the show’s 2002 film adaptation, and Tony Awards host Pink. The entire original cast of “The Book of Mormon,” including Tony Award nominees Josh Gad, Andrew Rannells and Rory O’Malley and Tony winner Nikki M. James, will also perform in celebration of the show’s 15th anniversary on Broadway.
Who is presenting?
Notable stars of stage, screen and music presenting awards include Grammy Award winner Megan Thee Stallion, who made her Broadway debut this year in “Moulin Rouge!”; Nicole Scherzinger, who won a Tony last year for her performance in the revival of “Sunset Boulevard”; and Academy Award winner Adrien Brody.
You can find the star-studded presenter lineup here.
What is nominated?
“Schmigadoon!” and “The Lost Boys,” both nominated for best musical, lead the pack with 12 nominations each going into Sunday’s awards ceremony. The “Ragtime” revival trails with 11 nominations, and lauded revivals “Death of a Salesman,” “Cats: The Jellicle Ball” and “The Rocky Horror Show” are each nominated for nine awards.
