Robots are going to take all our jobs, and it doesn’t matter. We should actually be thrilled about the prospects of automation, because it means freeing up economic resources, including arguably the most valuable resource, time.
One day after snap protests against corruption and Russia PM Medvedev broke out across numerous Russian cities, leading to the detention of hundreds of protesters as well as opposition leader Aleksey Navalny, the Russian opposition activist was found guilty of staging an unsanctioned rally, and will be fined 20,000 rubles (US$350) for his role in organizing what the authorities said was an illegal protest in Moscow on Sunday.
The rand tumbled as much as 1.7% and banking shares on the Johannesburg bourse fell more than 2% after South African President Jacob Zuma unexpectedly ordered Finance Minister Pravin Gordhan to return from an investor roadshow to Britain and the United States on Monday because he "did not give permission for the trip" a government source said.
Republican Representative Ted Poe resigned from the House Freedom Caucus on Sunday in disagreement over the conservative group's role in sinking President Trump healthcare plan. He suggested his resignation was because he wanted to vote for the Republican healthcare proposal which was adamantly opposed by the right-wing caucus.
UK in the spotlight this week as Article 50 set to be triggered. Is this priced in to GBP? We’ll find out. The USD may start to find some support as key levels (against its major counterparts) near. Japanese year end on the Friday.
Global stocks are lower across the board to start the week, as concerns about Trump's administration to pull off a material tax reform plan finally emerge, pressuring S&P futures some 20 points lower this morning, following European and Asian shares lower, while crude oil prices fall unable to find support in this weekend's OPEC meeting in Kuwait where a committee recommended to extend oil production cuts by another 6 months.
"The reflation trade isn’t just being undermined from within the U.S. The pronounced slump in global commodity prices is much more damaging. And the U.K. triggering of Article 50 this week will create more negative headlines globally."
When one strips away the partisan rhetoric and posturing, the practical impact of Friday's GOP failure to repeal Obamacare has a specific monetary impact: a funding hole that is at least $1 trillion bigger, and perhaps as large as $2.2 trillion.
President Donald Trump has now laid out exactly what he wants in the "big, beautiful wall" that he's promised to build on the U.S.-Mexico border. But, as AP's Alicia Caldwell reports, his effort to build a huge hurdle to those entering the U.S. illegally faces impediments of its own.
'Long Dollar' trades are currently seen unwinding ‘real-time’ as ‘the world’s most crowded trade’ and ‘reflation’ proxy earlier this evening broke the convergence of both its 200dma and the 76.4% Fibo Retracement of the entire Dollar move since the US election—exposing significant downside. There will be major implications within equities too.
Fox News host Judge Jeanine Pirro, whose show President Trump urged his followers on Twitter to watch earlier in the day, opened her program at 9pm on Saturday by calling for Speaker Paul Ryan's resignation.
"...the Democrats will continue to pose as the Lesser Evil party not really in terms of policy, but simply ad hominum. They will merely repeat Hillary’s campaign stance: They are not Trump... having lost its ability to pose as the party of labor and the middle class; and firmly controlled by Wall Street and California billionaires, the DNC strategy of identity politics encourages any identity except that of wage earners..."
But the next financial crisis that rocks America won’t be driven by bankers behaving badly. It will in fact be driven by pension funds that cannot pay out what they promised to retirees. And when the bill comes due, we will all be in very big trouble.
Is China on the verge of a "tipping point" or as Deutsche Bank puts it, on the edge of an "uncontrollable liquidity event"? For the answer and much more, here is everything you always wanted to know about the current precarious state of China's financial system.
In theworld’s deepest gold mine, workers will venture 2.5 miles (4 km) below the Earth’s surface to extract from a 30-inch (0.8m) wide vein of gold-rich ore. While these depths are impressive, mining is limited by the frailty of the human body. The world’s deepest oil well, known as Z-44 Chayvo, goes over 40,000 ft (12 km) into the ground – equal to 15 Burj Khalifas (the tallest skyscraper) stacked on top of each other
The "basic fundamental idea and claim is true," the 'political appointees' in the intelligence community knew exactly what they were surveilling for, Shaffer said, adding that the case is "much worse than Watergate by an order of magnitude."