Robots and automation: How Africa is at risk

Within less than two decades it will be cheaper to operate robots in US factories than hire workers in Africa, a new report warns. Falling automation costs are predicted to cause job losses as manufacturers return to richer economies. Some analysts say poorer countries could be less impacted by this trend, however the Overseas Development […]

EU details its taxes on tech companies’ revenue

The European Union has vowed to counter tech companies’ tax maneuvers by targeting their revenue, and it’s now clearer just what that will involve. In an interview with Le Journal du Dimanche, French Finance Minister Bruno Le Maire said the EU would unveil plans to tax tech firms’ revenue at a rate between “2 percent […]

Facebook data – as scandalous as MPs’ expenses?

The gathering storm over how millions of Facebook profiles were apparently exploited for political purposes raises all sorts of questions about how our data is used. But already some in the data and marketing industries are pouring cold water on the story which the Guardian’s Carole Cadwalladr has pursued with such admirable vigour. “Nothing very […]

It is ‘hard to understand’ why investors are suing Credit Suisse over volatility product, says its CEO

Credit Suisse Chief Executive Officer Tidjane Thiam on Monday said that it’s “hard to understand” why investors are suing the bank over a complex financial product that yielded steep losses for some. Known as the VelocityShares Daily Inverse VIX Short-Term Exchange-Traded Note (ETN), the instrument is designed to go up when stock market volatility goes […]

Signs that the economy’s potential has strengthened might mean rates rising higher than earlier thought

Jerome Powell heads for his first interest rate increase as Federal Reserve chairman this week with an unanswered question looming above others: could his optimism about the U.S. economy lead to more hikes than markets have prepared for? Powell’s public comments and Reuters conversations with his Fed colleagues since January, when he was confirmed as […]

Fake News Has Become an Existential Threat

The scene in A Few Good Men with Jack Nicholson going off on handling the truth has been coming to mind way too often of late. Sadly, this is the world we are living in right now, and social media is at the heart of it. I recently noticed a headline that implied a lot […]

It is ‘hard to understand’ why investors are suing Credit Suisse over volatility product, says its CEO

Credit Suisse Chief Executive Officer Tidjane Thiam on Monday said that it’s “hard to understand” why investors are suing the bank over a complex financial product that yielded steep losses for some. Known as the VelocityShares Daily Inverse VIX Short-Term Exchange-Traded Note (ETN), the instrument is designed to go up when stock market volatility goes […]

Singapore fines Standard Chartered $4 million over money laundering breaches

The Monetary Authority of Singapore (MAS) imposed penalties of S$5.2 million ($3.95 million) on the Singapore branch of Standard Chartered Bank (SCBC) and S$1.2 million on Standard Chartered Trust (Singapore) Ltd (SCTS) for anti-money laundering breaches and countering financing of terrorism (AML/CFT) requirements. In a statement on Monday, MAS said the breaches occurred when trust […]

Trade war threat is now Wall Street’s top economic fear, survey says

Sparked by the Trump administration’s recent tariffs, nearly three-quarters of respondents to the CNBC Fed Survey say they are now worried about a trade war. Protectionism tops the list of worries on Wall Street, the survey shows, far outpacing concerns over inflation, terrorism and even the Fed itself. “The market has shifted from a fear […]