THE better artificial intelligence gets, the greater the popular concern that smart machines will soon usher in a labour-market catastrophe. In Chandler, Arizona, Americans can at this moment hail a ride from a car without a human at the wheel. Web users can read high-quality, instant translations of foreign-language newspapers—no professional translation service needed. And […]
Read more
IN 1929 the Lever Brothers, a British soapmaker, merged with Margarine Unie, a Dutch margarine manufacturer, to form Unilever. The company has an annual turnover of over €50bn ($59bn), and a portfolio of brands that is recognisable worldwide, from its Flora spread to its Persil detergent. It has retained dual nationality for nearly 90 years, […]
Read moreCurrency, United States Finance
In a rare rebuke to the United States, British Prime Minister Theresa May’s office on Wednesday condemned President Donald Trump‘s decision to retweet three anti-Muslim videos from a leader of an anti-immigrant political group in the U.K. The far-right fringe group Britain First is an ultra-nationalist party that opposes what it calls the “Islamization” of […]
Read moreIn October 2016 then-Republican presidential candidate Donald Trump was joined by his family at a ribbon-cutting for the Trump International Hotel in Washington, D.C., a project that transformed a classic post office into luxury lodging and benefited from a federal tax credit for the rehabilitation of historic properties that the Reagan tax reform of 1981 […]
Read moreCurrency, United States Finance
Investors flocking into bitcoin are taking a risk by buying at such high prices, the vice president of the European Central Bank (ECB) Vitor Constancio told CNBC Wednesday. “It’s a very particular asset, it’s a speculative asset by definition looking to the developments in its price. Investors are taking that risk of buying at such […]
Read moreCurrency, United States Finance
Sterling is expected to strengthen in the coming days ahead of a crucial European Summit where an important milestone for Brexit negotiations is set to be reached. “You’d get a big move into the pound, if there’s agreement to move to trade (negotiations),” Stephen Isaacs, chairman of the investment committee at Alvine Capital, told CNBC […]
Read moreCurrency, United States Finance
The vice-president of the European Central Bank (ECB) warned Wednesday that current high valuations in U.S. equities could spark a possible correction in global stock markets. Speaking to CNBC, Vitor Constancio said: “Certainly the cyclically-adjusted price (to) earnings ratio in the U.S. is well-above historical averages.” This ratio is an important metric used by traders […]
Read moreIn a week that saw no change in interest rates and a holiday tacked onto the end, mortgage volume really had nowhere to go but down. Total applications fell 3.1 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report, which accounted for the Thanksgiving holiday. Applications to refinance a home loan […]
Read moreCurrency, United States Finance
President Donald Trump on Wednesday retweeted three graphic anti-Islamic videos by the deputy leader of one of the U.K.’s most far-right groups. The retweets did not include any Trump commentary. The tweets were posted by Jayda Fransen, deputy leader of Britain First, whose members are banned from mosques in England and Wales. The group was […]
Read moreCurrency, United States Finance
Apple is scrambling to fix a serious glitch within its latest Mac operating system. A major flaw in the way the MacOS High Sierra operates means that anyone can gain entry to a computer without the use of a password, obtaining access to powerful administrator rights in the process. Warnings about the bug were shared […]
Read more