Are you stressed out about the singularity? Living in fear of the day when computers decide that humans are no longer necessary? Not to worry, say some leading experts in Artificial Intelligence (AI): Research in the field might have actually hit a wall. No doubt, AI is everywhere. Computers assess financial news, identify viruses and even act as physics theorists, ...

South Dakota has become what South Carolina once was — stubborn, pugnacious and wrong. In 1860, South Carolina became the first state to vote to secede. In 2016, South Dakota’s legislature picked a fight in the hope that the US Supreme Court would reverse a prior decision, thereby handing the state a policy victory it failed to win in Congress. ...

NEW YORK / Reuters Banks have not reaped the full benefit of US tax cuts, Wall Street executives said after a string of quarterly results, with expected business growth and higher consumer spending yet to materialise. Analysts and investors are still trying to work out the longer-term effects of the tax rewrite signed into law in December, which slashed the ...

Bloomberg The recent game of musical chairs is continuing for bankers selling initial public offerings in Asia, with UBS Group AG the latest to announce changes. UBS appointed Hannah Malter as Asia head of equity capital markets syndicate, effective immediately, it said on Monday in an internal memo obtained by Bloomberg. Malter, who formerly worked as Asia-Pacific chief of staff ...

Reuters Bank of America reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates, as the lender benefited from higher interest rates and growth in loans and deposits. Revenue rose at three of BofA’s four major businesses. In consumer banking, its biggest business, revenue increased 9 percent as higher interest rates helped BofA charge more for ...

ATHENS / Reuters Greek banks will pass the European Central Bank’s (ECB) stress test of their financial health, the chief executive of the country’s second-biggest lender, National Bank (NBG), said on Monday. The ECB will publish the results of a stress test of Greece’s four largest lenders — Piraeus, NBG, Eurobank and Alpha — in May to allow time for ...

Reuters A Swiss investor adviser group said Credit Suisse Group AG share-holders should vote against the bank’s 2017 compensation plan, splitting with overseas advisers that backed changes made following uproar last year. Ethos, which advises Swiss pension funds, also said investors shouldn’t support the re-election of Chairman Urs Rohner because renumeration changes were driven by management rather than the board, ...

Bloomberg Deutsche Bank AG has been asked by the European Central Bank to simulate an orderly wind-down of its trading book, Chief Financial Officer James von Moltke told Bloomberg on Monday. “There’s no novelty about the exercise per se; the novelty is that we’re doing this with the ECB,” von Moltke said. The exercise will take several months, being “broader ...

ABU DHABI / WAM The UAE has moved ahead four places in the area of exports in 2017, to occupy the 15th position internationally, surpassing Russia, Spain and Switzerland, while maintaining its leadership in the Arab region, Middle East and Africa, acco- rding to reports by International Trade Statistics and forecasts by the World Trade Organisation (WTO) in 2018. The ...

ABU DHABI / WAM UAE stocks locked in a strong uptrend in the maiden session of the week supported by most of the listed sectors, primarily the realty and banking companies, with the DFM General Index rising to 3151 points, an increase of 1.83 percent over the last session, and ADX General Index following suit by 1 percent over Thursday’s ...