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Microsoft calls for regulation of facial recognition, saying it’s too risky to leave to tech industry alone

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“Microsoft is calling for government regulation on facial-recognition software, one of its key technologies, saying such artificial intelligence is too important and potentially dangerous for tech giants to police themselves” writes Drew Harwell Is for washingtonpost.com. Smith wrote that the “sobering” potential uses of face recognition, now used extensively in China for government surveillance, should open the technology to greater public scrutiny and oversight.The demand marks a rare call for greater regulation from a tech industry that has often bristled at Washington involvement in its work, believing government rules could…

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Markets News 

Wall Street will make more risky bets after rule change, with Goldman Sachs and Morgan Stanley leading the way

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“Goldman Sachs traders lost $180 million last year on bad bets in natural gas markets, helping cause the worst commodities trading performance in the bank’s history as a public company” writes Andrew Harrer for cnbc.com. At rival firm Morgan Stanley, power and gas traders led by rising star Jay Rubenstein generated almost $400 million in revenue for the bank last year. But pockets of big risk-taking have persisted within the banks — and that could jump with last week’s proposed changes to the Volcker Rule.The big narrative out of Wall…

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News Regulators 

Fed looks to ease rule that limits risky bank trading

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“The Volcker Rule, crafted by a bevy of regulators 4 1/2 years ago, changed the way the biggest U.S. banks do business” writes The Associated Press for seattletimes.com. It bars banks’ risky trading bets for their own profit with depositors’ money.WASHINGTON (AP) — The Federal Reserve is preparing to ease a rule aimed at defusing the kind of risk-taking on Wall Street that helped trigger the 2008 financial meltdown.The rule is a key plank of the landmark Dodd-Frank financial regulation law aimed at reducing the likelihood of another crisis and…

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Hawaii’s Volcano Country, Where Land Is Cheap and the Living Is Risky

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“Hawaii had the highest cost of living of any state in 2017, according to the Center for Regional Economic Competitiveness, driven largely by housing prices” reports nytimes.com. For many of those who continued to buy homes, the lure continued to be cheap housing in a tropical wonderland.Zoning restrictions in parts of the archipelago and the use of private residences as vacation rentals constrict available affordable housing even further. Source: nytimes.com Share This:

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Markets News 

Investors risk fresh credit crisis in their hunt for yield

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“The toxic ingredients for a new crisis in the financial system are already stewing in the pot of the leveraged loan market” writes Tom Stevenson for telegraph.co.uk. The US market for these risky but lucrative high-yield loans that fuel private equity buyouts and fund companies with poor credit ratings smashed through the $1 trillion (£738bn) milestone earlier this month.As interest rates rise, investors are lured to the risky loans like moths to a flame in the search of better returns.But the leveraged loan market surging past the latest milestone has…

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The New Health Care: Worried About Risky Teenage Behavior? Make School Tougher

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“Reducing risky behavior early in life is important because habits established in youth often persist into adulthood” reports nytimes.com. The study doesn’t explain why greater graduation requirements might reduce risky behavior, but the authors offer two hypotheses.Nevertheless, by some measures, teenagers are engaging in less risky behavior than they used to. Source: nytimes.com Share This:

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Surge in risky loans leaves global economy vulnerable to rate hikes, IMF warns

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“Low interest rates and surging economic growth have stoked a boom in risky lending which could turn sour as interest rates rise, potentially derailing global growth” writes Tim Wallace for telegraph.co.uk. Even low-quality borrowers are able to issue bonds at very low interest rates, the International Monetary Fund said, leading to a spike in poorly-rated bond issuance.Loans to heavily indebted or even junk-grade borrowers have also shot up – $788bn (£554bn) of so-called leveraged loans were issued last year, smashing through the pre-crisis record of $762bn in 2007. The amount…

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Markets News Stocks 

Fidelity puts 6 million savers on a risky path to retirement

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“About 6.2 million Americans have about $224 billion invested in Freedom Funds, Fidelity’s largest retirement fund franchise” writes unknown author for cnbc.com. Loporchio said such short-term swings do not reflect what Fidelity’s retirement savers will see over the long term.In the 1990s, Fidelity helped pioneer target-date funds as a prudent method to diversify investments and automatically dial down risk as participants age. Source: cnbc.com Share This:

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Crypto News 

Bill Gates: Cryptocurrency is ‘super risky’ in the long run

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“Gates also warned that the wave of speculation surrounding cryptocurrencies is “super risky for those who go long.”” writes Adam Galica for cnbc.com. Bill Gates is not a fan of cryptocurrency.”Right now, cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.”. When a Reddit user pointed out that plain cash can also be used for illicit activities, Gates said that crypto stands out because it can be easier to use. Source: cnbc.com Share This:

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News Stocks 

Risks in tech sector grow as more investors pile in

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“On the buy-side, mutual funds under the large-cap growth category continue to favor tech stocks with overweight allocations” writes Anora M for marketwatch.com. Calvasina and her team are wary of such positioning risk and maintain a “market weight” recommendation on the tech sector.The much-beloved tech sector — up nearly 9% year to date — accounted for more than 60% of those S&P gains.Over the past 12 months, the S&P 500 is up 16.4%, while the tech sector gains are more than double that at 35%. Source: marketwatch.com Share This:

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