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Trump signs order prioritizing artificial intelligence research amid looming China ambitions

President Donald Trump signed an executive order Monday directing the U.S. government to prioritize artificial intelligence in its research and development spending, the White House said. The order, which comes amid concerns about China’s ambitions to dominate the sector and the likelihood of disruption for workers as the technology automates millions of jobs, doesn’t outline specific funding goals, but says it aims to ensure that AI develops in a manner that reflects U.S. values and to push training for the future workforce. Is China really snapping at the heels of…

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A recession is looming, easy money is ending and the yuan is falling – get set for 2019, the year of living dangerously

We are fast approaching that critical time of the year when investors must place their bets for 2019. It will be no easy task as investors face a battery of negative forces, adverse headwinds and a sense that the world is sinking into complete confusion. As if investors have not already been through enough hell and high water in the past decade, there is a prevailing sense that things are about to go pear-shaped again. As markets become more focused on capital protection and risk aversion, investors will need to…

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Property 

Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches

Hong Kong’s tax on empty flats appears to be working. The city’s cash-rich developers had hoarded more than 9,000 new flats as of June 29, according to government data, when the vacancy tax was first proposed. Some of the flats had been held for more than a decade. The developers rightly assumed the prices would shoot up through the stratosphere if the flats were held and later sold as new. But in just over two months, facing the threat of a humongous tax bill for hoarding that is blamed in…

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