Labour has watered down its multi-billion-pound “green prosperity plan,” saying it will prioritise “financial stability” if it wins the next general election. The opposition party had promised in 2021 to invest £28 billion a year until 2030 in green projects if it came to power. The plan, billed as the party’s answer to U.S. President…
Australia Willing to Walk Away as EU Trade Negotiation Stalls
The Australian government has expressed that it will stop pursuing a free trade agreement with the European Union (EU) if the deal is not in the country’s national interest. This comes after Trade and Tourism Minister Don Farrell returned from his recent trip to Belgium to negotiate the trade deal. The EU has demanded Australia…
Dollar Peels Off 2-Week Lows Ahead of Central Bank Deluge
LONDON—The dollar bounced off two-week lows on Friday, shrugging off some of the weakness that has set in this month as expectations have grown that the Federal Reserve may not raise interest rates again for some time. Next week is packed with key monetary policy meetings, including those of the Federal Reserve, the European Central…
Oil Price Gains Capped by Demand Fears
LONDON—Oil prices rose on Friday and were broadly flat on the week as concern over oil demand growth was balanced by Saudi output cuts. Brent crude futures rose 36 cents, or 0.5 percent, to $76.32 a barrel by 0932 GMT while U.S. West Texas Intermediate crude was up 34 cents, or 0.5 percent, at $71.63….
Global Shares Edge Up as Fed Pause Bets Bolster Sentiment
June 9, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON, TOKYO—Global equities were set for a small weekly gain on Friday following a Wall Street rally overnight, as rising bets the Federal Reserve will skip a rate increase next week overshadowed worries about U.S. markets being drained of cash. MSCI’s broad index of global shares edged 0.2 percent higher, on track for a weekly…
Australia’s Official Cash Rate Could Rise to 4.85 Percent: Economists
June 9, 2023
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AustraliaBusiness & Marketseconomyinflationinterest rate hikesrecessionReserve Bank of AustraliaWorld
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Australian borrowers have been hit with 12 interest rate hikes since the Reserve Bank of Australia (RBA) embarked on a monetary tightening policy in May 2022, causing many to fall into mortgage stress. However, some economists have warned the ordeal is far from over, as they expect the official cash rate to reach as high…
Investment Guru Grant Cardone Says ‘Quit Saving Your Money’ If You Want to Get Rich
Renowned investor and bestselling author Grant Cardone said that the key to getting rich isn’t saving more—but rather putting your money to work effectively. Cardone, whose net worth Forbes estimates at around $600 million, is a sought-after speaker on investment and personal finance, with over 7 million followers across platforms that include YouTube, Twitter, and…
NZ Government Agency Bans Staff From Using AI Platforms
June 8, 2023
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AI regulationsartificial intelligenceAustraliaBusiness & MarketsCompaniesInternationalMedia & Big TechNew ZealandTechTech NewsWorld
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In what appears to be a world first, a government agency in New Zealand has banned employees from using AI technology over data and privacy concerns. The New Zealand Ministry of Business, Innovation, and Employment (MBIE) issued the ban on tools like ChatGPT after concerns sensitive information inputted into such platforms could be later retrieved, reported…
NZ Government Agency Bans Staff Form Using AI Platforms
June 8, 2023
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AI regulationsartificial intelligenceAustraliaBusiness & MarketsCompaniesInternationalMedia & Big TechNew ZealandTechTech NewsWorld
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In what appears to be a world first, a government agency in New Zealand has banned employees from using AI technology over data and privacy concerns. The New Zealand Ministry of Business, Innovation, and Employment (MBIE) issued the ban on tools like ChatGPT after concerns sensitive information inputted into such platforms could be later retrieved, reported…
Banks’ Growing Reliance on Chatbots to Handle Customer Service Tasks Worries Consumer Watchdog
The Consumer Financial Protection Bureau (CFPB) have warned about banks’ growing use of generative artificial intelligence (AI) chatbots to handle routine customer service requests. The CFPB is worried that banks or loan-servicing companies may cut back on human customer service employees and push increasing routine tasks to AI. The agency said in a June 6…
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