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Computing Power Step into Unknown as Funds Outsource to Hedge the Cloud

Seven people run a $200 million hedge fund following artificial intelligence formulas and are tucked into the attic of a Georgian building in London's West End. But nowhere to be seen are the supercomputers that process their complex algorithms.   Piquant Technologies outsources all its IT...

Music Stars Believe Future Lies in Tech But Clash With Streaming Services Over Money

Artists are still feeling the pinch even though music streaming has driven down the costs for consumers.   High-profile singers, while admitting new technology could be key in helping them win, the expressed their frustration at streaming services, record labels and regulators during last...

In what is South Korea's biggest overseas deal, Samsung to buy car tech firm Harman for $8 billion

Samsung Electronics announced its biggest move till date into the auto electronics market and the biggest overseas acquisition ever by a South Korean firm when it announced that it would be buying Harman International Industries in an $8 billion deal.   As the company tries to break...

As Land Sites Fill, Millions of Barrels Stored in Oil Tankers

Amid signs that space in on-land depots is filling up, a ship-operator said that oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe. Given the region is scheduled to load the most cargoes in 4 1/2 years next month, the glut could get bigger still....

China Cyber Security Law Criticized by Global Industry Groups

“Deep concerns” were expressed to the Chinese government about a new cyber security law which, according to analysts and industry experts, would likely increase the separation between China and the rest of the world economy. The concerns were more than 40 international business and technology...

In Singapore 1MDB-Linked Case, Ex-BSI Banker Yak Found Guilty

The first person to be found guilty in a Singapore case linked to 1Malaysia Development Bhd is Yak Yew Chee, a former BSI SA private banker. And in the global corruption and money laundering probes surrounding the Malaysian investment fund, he also became the first banker to be convicted.  ...

Why a Move of Getting Tough on China Could Backfire for Trump

The long-term implications of a tough stand against China would be detrimental to U.S. interests even though getting tough on China to placate some of the frustrations of the U.S. electorate would be tempting for president-elect Donald Trump, warned an academic while talking to...

With Oil in 2017 if no OPEC Cut, IEA sees Global Market Awash

While escalating production from exporters around the globe could lead to relentless supply growth, the International Energy Agency is of the view that the oil market surplus may run into a third year in 2017 without an output cut from OPEC.   Led by record OPEC output and rising production...

M&A Bankers Being Quietly Shifted to Frankfurt Ahead of Brexit by Some Banks

Boosting Frankfurt chances of being one of the financial centers to benefit most from Britain's vote to leave the European Union, global banks are quietly building up their investment banking teams in Frankfurt as the German deals market hots up.   Banks have been prompted to base...

In Face of Overseas Opposition, China Adopts Cyber Security Laws

While triggering concerns among foreign business and rights groups, a controversial cyber security law to counter what Beijing says are growing threats such as hacking and terrorism, was adopted by China on Monday.   A Chinese parliament official said that the legislation is an "objective...

Banking Standards, Proposed by Global Bank Regulator, Demanded to be Softened by the EU

In an effort to protect lenders and the economy from major new costs, the European Union is raising the pressure on global banking regulators to ease proposed capital rules.   A chorus of resistance from EU regulators and policy makers including German Finance Minister Wolfgang Schaeuble...

Might of Global Currency Markets Being Battled by Switzerland

The Swiss National Bank hasn’t stopped capping its currency even though it may have abandoned its currency cap.   According to Bank of America Corp. and the wealth-management unit of UBS Group AG, policy makers defending a de facto franc limit more than 10 percent stronger than the...
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