The Financial Conduct Authority, an independent U.K. financial regulatory body, is looking into the possible use of artificial intelligence (AI) and machine-learning tools to enforce regulatory compliance. Nick Cook, the FCA’s head of data and information operations, said that the regulator was “still learning”, and that feedback from a “call for input” from regulatory technology […]
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Trump trouble has nothing to do with Russia, says VTB CEO: ‘We are living a quiet life in Russia'
Russia has nothing to do with the ongoing political scandals in the United States, the chief of one of the biggest Russian lenders told CNBC Thursday. The White House is once again embroiled in new controversy after Donald Trump Jr, the oldest son of the president, met a Russia lawyer who allegedly possessed damaging information […]
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Daimler reportedly accused of selling over 1 million cars with excess emissions
German carmaker Daimler has been accused of selling over a million cars with excessive emissions in Europe and the United States, Sueddeutsche Zeitung newspaper said on Wednesday, citing a search warrant issued by a Stuttgart court. Two months ago Stuttgart prosecutors searched Daimler sites in Germany following allegations of false advertising and the possible wrongful […]
Read moreA French court ruled on Wednesday that Google was not liable to pay 1.1 billion euros ($1.3 billion) in back taxes demanded by the French authorities. The Paris administrative court ruled that Google Ireland Limited was not subject to corporate and value-added taxes for the period 2005-2010, striking down the tax administration’s demands for back […]
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Europe to open higher after Yellen comments; Daimler seen down by 3.5%, Trump to visit France
European stock markets are set to open higher on Thursday morning as investors eye new earnings reports and look ahead to more comments from U.S. Federal Reserve Chair Janet Yellen who will testify to Congress for a second day. The DAX is set to gain 21 points to open at 12,648. The U.K.’s FTSE and […]
Read moreThere’s plenty of room to grow for the start-up environment in China, according to the head of Chinese drone maker EHang, who told CNBC on Wednesday that the U.S. is still ahead in most areas of innovation and technology. “The U.S. is a more mature market, people spend more time working on fundamental technologies, while […]
Read moreDomestic demand, instead of exports, will drive economic growth in the second half of 2017 — a shift that bodes well for Southeast Asian countries, Credit Suisse said as it turned more optimistic on the region’s banking sector. The bank said in a report this week that the export boost from China has peaked and […]
Read moreDanielle Weisberg and Carly Zakin, co-founders and co-CEOs of The Skimm, made a gutsy gamble five years ago. They bet that one of the big problems with the news business was the tone. Media outfits took themselves too seriously, and weren’t speaking to young people. The pair’s solution? The Daily Skimm, a newsletter targeting millennial […]
Read moreChina reported a 11.3 percent on-year increase in exports and a 17.2 percent on-year rise in imports in June in dollar terms, according to Reuters. That left China with the a trade balance of $42.77 billion for the month, higher than a Reuters poll forecast of $42.44 billion. Analysts polled by Reuters had expected exports […]
Read moreThe United States notified South Korea on Wednesday it plans to start negotiating amendments to a five-year-old free trade agreement with Seoul and called a meeting to kick off the talks for next month. The announcement came months after U.S. President Donald Trump said he would either renegotiate or terminate what he called a “horrible” […]
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