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UK economy could lose $420 billion by 2030 if robots replace human jobs, study says

“The U.K. economy could shrink by hundreds of billions of dollars by 2030 because of the impact of artificial intelligence (AI) and machine learning, according to a new study” writes Ryan Browne for cnbc.com. In this scenario, both Britain and Australia’s economies suffered as a result, with the U.K.’s becoming $420 billion smaller and Australia’s losing $50 billion.In another, increased investment toward sharing data and advanced computing efficiency led to all countries’ gross domestic product (GDP) rising by at least 1 percent.But in the third — and only negative —…

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Markets News Oil 

Venezuela’s impact on oil markets could be far worse than expected, RBC’s Helima Croft says

“Oil traders expecting steep production losses from one of the world’s largest producers are likely to be underestimating the severity of the country’s crisis, according to analysts at RBC Capital Markets” writes Carlos Garcia Rawlins for cnbc.com. In a research note published Monday, analysts at the global investment bank said while oil production in Venezuela is poised to “plunge” in 2018, the extent of its losses could be far worse than investors were anticipating.”Given the severity of the crisis, we think market participants would be unwise to assume that Venezuelan…

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How the Republicans’ ‘final’ tax plan could impact you

“Additionally, say goodbye to most state- and local tax deductions, resulting in less tax write-offs for taxpayers in high-tax states” writes Dasarte Yarnway for marketwatch.com. Also: Bond guru Gundlach warns tax plan could have ‘unintended consequences’ for junk debt Q: Is it true that the Alternative Minimum Tax (AMT) will be eliminated?. More: What to do with your stocks now if the tax plan includes first-in, first-out (FIFO) Q: The corporate tax rate sounds good for big business, but what about the “little guys”?. Read: Will the new tax plan…

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How AI and machine learning will impact HR practices

“AI and machine learning (ML), the current buzzwords in technology, have significant implications for human resource management practices” reports vccircle.com. AI captures useful employee data pertaining to a broad array of worthwhile learning experiences and behavioural appraisal of potential employees.Moreover, different individuals are characterised by different learning styles, and to accommodate that, HR leaders use AI to individualise corporate training.AI/ ML algorithms go beyond spreadsheet analysis by carrying out employee assessments via regular, unprejudiced performance appraisals. Source: vccircle.com Share This:

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GBP News 

UK public becoming more pessimistic over Brexit economic impact

“The British public has become more pessimistic about the economic impact of Brexit, a major new survey for the Bank of England has found” writes Ben Chu for independent.co.uk. The UK economy is projected to grow by just 1.5 per cent over 2017 by the Office for Budget Responsibility.A survey by NMG of some 6,000 households, conducted in September, shows that the proportion of households expecting leaving the European Union to harm the UK economy has risen since the second half of 2016.The NMG survey, published as part of the Bank’s Quarterly…

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Markets News Stocks 

How you feel about Trump’s economy probably depends on whether you own stocks

“If you play the stock market, then you’re far more likely to approve of what President Donald Trump has done to the economy” writes Joe Ciolli for businessinsider.com. US corporations are currently enjoying a prolonged stretch of impressive earnings growth, which has historically been the biggest driver of stock gains.The survey found that 41% of participants who own stocks think their personal economic situation has gotten better this year, while only 15% say it’s gotten worse.It’s important to note that, despite Trump’s attempts to take credit, the stock market hasn’t…

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GBP News 

David Davis Escapes Contempt Of Parliament Vote Over Brexit

“However the Brexit committee decided not to accuses Davis of being in contempt of parliament” writes Ned Simons for huffingtonpost.com. Last week Davis provoked outrage after he revealed the government had not conducted impact assessments on the economic impact of Brexit.Many MPs believed Davis’ previous comments had confirmed impact assessments had been carried out. Source: huffingtonpost.com Share This:

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