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Self-driving cars, like those from Waymo, face vandalism as public anxiety about AI grows, reminiscent of historical tech protests. Meanwhile, Planted Solar's AI-enabled robots promise to revolutionize solar panel installation, addressing labor shortages and speeding up construction significantly. However, the rise of automation raises concerns about job displacement and the quality of work in the evolving energy sector.
Ether is experiencing a significant rally, with investors optimistic about its potential to surpass previous records. On Thursday, Ether exchange-traded funds in the US recorded a historic inflow of $428 million, as the token surged 61% since Donald Trump's election victory, driven by hopes for more favorable regulations.
Indian bond yields have decreased by 12 basis points over the past week, reflecting optimism for potential interest rate and cash reserve ratio (CRR) cuts by the Reserve Bank of India (RBI). Nomura anticipates a 25 basis point reduction in the repo rate and a 50 basis point cut in CRR in December, driven by a slowdown in GDP growth to 6.7% in the September quarter, down from 8.1% a year earlier. The 10-year benchmark bond yields have also shown a decline, indicating market expectations for monetary easing.
Economists are expressing caution regarding growth in Hong Kong and Singapore for the upcoming year, as Donald Trump's potential return to the White House could lead to increased tariffs, further impacting China's economy. Recent estimates indicate a reduction in quarterly outlooks for Hong Kong through the first half of 2025 by at least 0.5 percentage points, with the yearly growth forecast adjusted down to 2.2% from 2.6%, according to a Bloomberg survey of 29 economists.
High interest rates, a housing shortage, and a growing population have led to a housing crisis in Australia. In Sydney, house prices are beginning to decline, prompting discussions about the potential for a longer downturn in the market and when homeowners might see relief from interest rate hikes. For insights, listen to the Bloomberg Australia Podcast.
UBS is on trial in Paris for allegedly harassing whistleblowers, including former auditor Nicolas Forissier, who exposed the bank's efforts to assist wealthy French clients in tax evasion. Forissier and a marketing manager faced retaliation, including bonus cuts and dismissal. UBS's chairman denied wrongdoing, attributing the bank's issues to the 2007-2008 financial crisis, a claim Forissier refuted, stating the wealth management division remained profitable. A conviction could result in a fine and potential operational bans for UBS France.
Bank of Korea Governor Rhee Chang-yong has dismissed the likelihood of an interest rate cut, downplaying the impact of President Yoon Suk Yeol's recent martial law decision on the economy. Rhee emphasized that the political turmoil is short-lived and urged a focus on the economy's strengths and weaknesses instead.
China's bond market is experiencing a historic rally, prompting traders to increase leveraged bets in anticipation of further policy easing amid concerns over potential US tariffs. The volume of overnight repurchase contracts surged to 7.6 trillion yuan (US$ 1.04 trillion) on Tuesday, marking the highest level since August 2023, as traders leverage this popular borrowing tool to capitalize on the ongoing rally in local sovereign bonds.
Chicago is set to sell approximately $806 million in municipal bonds this week as part of a refinancing effort to address a nearly $1 billion budget gap by year-end. The city plans to borrow $679.7 million in sales-tax-backed debt and $126.6 million in general obligation bonds on December 5, with proceeds aimed at refinancing existing debt to save money and mitigate ongoing shortfalls.
Pakistan's inflation rate fell to 4.86% in November, marking the lowest level in over six years, according to the Pakistan Bureau of Statistics. This decline offers the central bank an opportunity to consider further interest rate reductions, contrasting with a 7.17% increase in October and a median forecast of 5.1% from a Bloomberg survey.
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