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As politicians encroach on areas that require technical knowledge, the risk of costly policy mistakes increases. The failures of Narendra Modi and Donald Trump show that when it comes to economic policymaking, political acumen is no substitute for a deep understanding of incentives, markets, and institutions. NEW DELHI—During the seven years I served as chief…
Financial giants in Japan partner with AI firms to build zero-trust cybersecurity defenses. This article appears in the July/August issue of Global Finance Magazine. Japan’s banking sector is becoming a high-stakes proving ground for AI-driven cybersecurity. As autonomous “frontier AI” models rapidly increase the speed and scale of cyberthreats by identifying zero-day vulnerabilities, the country’s…
11:30 (ET)The Business Outlook Survey is a summary of interviews conducted by the Bank’s regional offices with business leaders from about 100 firms, selected in accordance with the composition of Canada’s gross domestic product. The Canadian Survey of Consumer Expectations is a quarterly survey aimed at measuring household views of inflation, the labour market and household finances,…
Shares of International Business Machines (IBM 25.21%) plunged on Tuesday after the tech giant warned of a projected profit shortfall. Image source: The Motley Fool. IBM’s clients are shifting their tech spending to AI-related investments IBM expects its second-quarter revenue to grow by just 1% to $17.2 billion, with earnings per share down 2% to…
The British Pound (GBP) treads water against the US Dollar (USD), trading practically flat, a few pips below the 1.3500 level on Thursday’s early London session. The bright UK second quarter Gross Domestic Product (GDP) release has been offset by downbeat factory output figures, while the US Dollar keeps wavering within range, as Federal Reserve (Fed)…
