mb.com.ph | Philippine News | Author Archives
Home » Entries posted by Reuters
Reuters

‘Siri, catch market cheats’: Wall Street watchdogs turn to A.I

Artificial intelligence programs have beaten chess masters and TV quiz show champions. Next up: stock market cheats. Two exchange operators have announced plans to launch artificial intelligence tools for market surveillance in the coming months and officials at a Wall Street regulator tell Reuters they are not far behind. Executives are hoping computers with humanoid wit can help mere mortals catch misbehavior more quickly. The software could, for instance, scrub chat-room messages to detect dubious bragging or back slapping around the time of a big trade. It could also more quickly unravel complex issues, like "layering," where orders are rapidly sent to exchanges and then canceled to artificially move a stock price. A.I. may even sniff out new types of chicanery, said Tom Gira, executive vice president for market regulation at the Financial …

Read More

Toyota again leads U.S. auto reliability survey, Buick surprises

Two Toyota Motor Corp (7203.T) brands again led the annual reliability survey from Consumer Reports magazine, and General Motors Co's (GM.N) Buick was the first American brand in at least 35 years to crack the top three, the consumer magazine said on Monday. It was the fourth straight year that Lexus and Toyota finished in the two top spots, and they have had an outstanding performance since Consumer Reports began tracking brand reliability in the early 1980s. Buick, a "near-luxury" brand, does well in the survey because it has few models and none of the pickup trucks or truck-based SUVs that hurt the ratings of GM stablemates Chevrolet and Cadillac, said Jake Fisher, director of automotive testing for Consumer Reports. Asian carmakers still dominate for reliability, with seven of eight brands deemed "more …

Read More

Visa profit, revenue beat analysts’ estimates

Visa Inc (V.N), the world's largest payments network operator, reported better-than-expected quarterly profit and revenue, boosted by the inclusion of Visa Europe's results and as customers spent more using its network. The company said total payments volume increased 47.1 percent to $1.86 trillion on a constant dollar basis in the fourth quarter ended Sept. 30, from a year earlier. "We have begun to see the benefits from our acquisition of Visa Europe and strong cost discipline helped our results," Chief Executive Charles Scharf said in a statement. Scharf last week said he would be stepping down effective Dec. 1. The last big move in his four-year tenure was the consolidation of Visa's position as the world's largest payments processor with the $23 billion deal to buy Visa Europe, a deal that was completed …

Read More

Iraqis are world’s most generous to strangers — global survey

LONDON - Although torn by civil war, Iraq is the world's most generous country towards strangers in need, according to a new global index of charitable giving. Eighty one percent of Iraqis reported helping someone they didn't know in the previous month, in a global poll commissioned by the Charities Aid Foundation (CAF). For the first time since CAF began the poll in 2010, more than half of people in 140 countries surveyed said they had helped strangers - with many of the most generous found in countries hit hard by disaster and war. Despite suffering instability and violence, Iraq has twice been ranked top in terms of helping strangers. Libya, with its own internal conflict, was second on the list this year and Somalia, embroiled in civil war for 25 years, fourth. "I …

Read More

India launches regional aviation scheme

New Delhi– India's aviation ministry said on Friday the first flights under a scheme to boost air travel between smaller cities should take off in January, after it finalized rules to make flying more affordable in the world's fastest-growing aviation market. Under the "Regional Connectivity Scheme," air fares on routes between towns and cities currently poorly connected will be capped – at 2,500 rupees ($37.4) for every 500 km of travel – and service and fuel taxes reduced. A small levy will be slapped on existing routes to help pay for the scheme, while the government will provide funding to make the project viable and spend 40 billion rupees ($598 million) to reopen 50 disused airports within four years. Some industry executives have expressed reservations about the levy, but the ministry defended the …

Read More

Hanjin Shipping in talks to sell Long Beach Terminal stake to MSC

Seoul – Hanjin Shipping Co. Ltd. is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A. (MSC), a spokesman for the Seoul court overseeing the shipper's receivership said on Friday. Hanjin Shipping owns a 54 percent stake in Total Terminals International LLC, which operates Long Beach Terminal in the US MSC owns the remaining 46 percent. It has appointed an advisor, an overseas firm specializing in shipping industry talks, to help with the negotiations, the court spokesman said. Hanjin, the first major shipping line to be dragged down by global industry overcapacity and low freight rates, put up other assets such as its US-Asia route manpower and logistics systems, five container ships and 10 overseas businesses, for sale earlier this month. Hyundai Merchant Marine …

Read More

VLCC rates to stay firm on high cargo volumes

Singapore – Freight rates for very large crude carriers (VLCCs) could dip but are likely to remain firm next week on buoyant cargo volumes, ship brokers said on Friday. That came after VLCC rates from the Middle East to Japan hit a fresh four-month high on Wednesday, rising to almost 67.75 on the Worldscale measure, equivalent to $47,479 per day, the highest since June 8. “Rates will come off a bit, but it’s difficult to say how much. I don’t think we’ll see the market drop dramatically,” a European supertanker broker said on Friday. The broker estimated there were around 135 Middle East VLCC cargoes fixed for loading in October although other market watchers recorded around 140 fixtures. Supertanker rates were also buoyed by a 50 percent increase in the number of fixtures from …

Read More

Qantas CEO Alan Joyce turns around the airline

Sydney  – Qantas Airways Ltd. chief executive officer (CEO) Alan Joyce hired bodyguards in 2011 after receiving death threats for his unprecedented grounding of the airline's entire fleet during a bitter industrial dispute. Five years later, Joyce has largely won over hostile customers, politicians and unions who had called for his head during the national carrier's worst crisis. Joyce this year delivered record profits and the first dividends since 2009, and on Friday will front the airline's annual meeting in Sydney to unveil plans for growth. Qantas is targeting expansion in Asia with new services to China and the use of "big data" for the airline's hugely profitable frequent flyer business. "You have to look at new trends and technologies all the time and make sure you are keeping up with them," Joyce told …

Read More

In insurance Big Data could lower rates for optimistic tweeters

When people take to Twitter to comment on the great evening they enjoyed with good food and wonderful friends, reducing their monthly insurance bill is probably the last thing on their mind. But such tweets could help insurers to price premiums for individuals, with research suggesting a direct link between positive posts and a reduced risk of heart disease. This could lead to future insurance cover based on "sentiment analysis", in which Big Data and artificial intelligence make predictive models ever more accurate. Swiss Re (SRENH.S) says technological advances will cut the price of insurance protection and help individuals and firms make better decisions through programs that offer advice and incentivise improvements in areas such as health and driving. However, detractors fret that such developments could erode customers' privacy or lead to increasingly personalized …

Read More

Goldman Sachs’ Latam investment bank chief to leave – source

Martin Werner, co-head of Goldman Sachs' investment banking business in Latin America, will depart the Wall Street bank at the end of this year, according to a person familiar with the situation. Werner, who also runs Goldman's investment banking business in Mexico, told the Mexico office last week he was retiring after 16 years at the bank. A spokesman for Goldman Sachs in New York declined to comment. Werner did not immediately reply to an email seeking comment. Werner's departure follows a change at the top of Goldman's Latin American business earlier this year when Stephen Scherr stood down as head of the region to take on a new role as Goldman's banking head. Scherr, also Goldman's chief strategy officer, was replaced as Latin American boss by Marc Nachmann, head of the firm's …

Read More

Page 1 of 141123Next ›Last »