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Fear not humans: Artificial intelligence to create millions of jobs, predicts PwC

Artificial intelligence (AI) and related technologies will generate as many jobs as they displace over the next 20 years, according to a report by audit firm PwC which focused mainly on the United Kingdom. The research found that while AI could displace roughly seven million jobs in the country, it could also create 7.2 million […]

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Gold to prove crucial hedge against next financial crisis – analyst

While unsteady financial markets are bouncing up and down due to trade and geopolitical conflicts as well as political uncertainty, some investors turn to less risky assets, principally to gold. According to the recent report by the London-based consultancy Rosa & Roubini Associates, the latest developments in Italy could easily trigger another global financial crisis. […]

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S&P affirms Russia's credit rating, says Moscow is able to weather new sanctions

S&P Global has affirmed Russia’s BBB long-term and short-term sovereign credit rating, noting that the country’s balance of payments and fiscal health should allow it to weather challenges that might arise from future sanctions. In its ratings update on Friday, S&P affirmed Russia’s BBB/A3 foreign currency sovereign credit score with a stable outlook and its BBB/A2 […]

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Trump slams currency manipulation by Brussels & Beijing

US President Donald Trump stepped up attacks on China and the European Union on Friday, accusing them of manipulating their national currencies and interest rates. The US, which is currently doing well, should preserve its right to recover what was lost through such practices as illegal currency manipulation and trade deals that were not profitable […]

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Going green: China's shift to natural gas will send coal prices crashing

Chinese authorities have approved an extended program aimed at significantly curtailing coal consumption across the country. The move to cleaner energy will have a serious effect on the entire coal industry. According to the plan, within three years coal consumption across 82 China’s cities will be slashed by up to 10 percent against the numbers […]

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Trump says US ready to tax all Chinese imports should need arise

Washington may slap import taxes on all $ 505 billion worth of Chinese goods should it become necessary if the trade conflict with Beijing escalates, US President Donald Trump told CNBC. So far, the countries have exchanged levies on mutual imports worth of $ 34 billion. US export duties on Chinese products came into force […]

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Russia set to wean economy off US dollar as Washington ratchets up sanctions

The Russian finance ministry is working on a broad set of measures to protect the country’s economy amid growing pressure from the United States, Kommersant daily reports. The main part of the reforms is a plan to reduce the use of the US dollar in foreign trade transactions in favor of national currencies, according to […]

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First 50 families of farmers from South Africa may soon resettle in Russia

The first families of Boers, descendants of Dutch settlers in South Africa, could soon be moving to Russia to escape rising violence against farmers. Some 15,000 Boers want to leave South Africa and become farmers in Russia. The Schlebusch family from South Africa’s Bloemfontein is going to be among first 50 Boer families to settle […]

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When parents quarrel: Brussels levies Ukrainian metals imports amid EU-US trade spat

Ukrainian metal imports have fallen victim to a trade war between the United States and the European Union. The country has been financially dependent on EU and US since the Maidan revolution of 2014. On Wednesday, the EU announced provisional safeguard measures concerning imports of a number of steel products that kicked off on Thursday. […]

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