“There will come a point where no job is needed – you can have a job if you want to for personal satisfaction, but the AI will be able to do everything.” That’s Elon Musk, the chief executive of Tesla and the world’s richest person, talking to British Prime Minister…

By John Revill ZURICH (Reuters) -The Swiss National Bank is set to reduce the amount of money it pays commercial banks after it announced on Monday a cut in interest it pays lenders who park cash with it overnight. The SNB announced the change after costs soared with the switch…

(Reuters) – Pakistan’s central bank kept its key interest rate unchanged on Monday, as expected, and forecast inflation would ease in the months ahead after a sharp jump last month. The decision to keep its main policy rate at 22% comes ahead of a visit by a delegation of the…

One of the main takeaways from Fed Chairman Jerome Powell’s press conference and the central bank’s policy statement Wednesday is the growing possibility that the rate-hiking cycle is already over, economists said Wednesday. “The Fed’s latest policy statement and Chair Powell’s opening comments to his November press conference open the door…

MADRID (Reuters) – Spanish airport operator Aena said on Monday that airlines have increased seat supply by 15% for flights to and from Spain this coming winter compared with last year. Carriers have booked a capacity of 126.6 million seats during the winter season, which runs from October to March,…

The Bank of England on Thursday opted to hold rates steady for a second straight meeting, though the vote was closer than expected. The vote in favor of keeping rates at 5.25% was 6-to-3, and not the 8-to-1 expected. Inflation has been coming down faster than the U.K. central bank…

SYDNEY (Reuters) – The Pacific Islands is the world’s most aid-reliant region, with geopolitical competition for influence between donor nations fuelling record levels of development assistance, a survey released on Tuesday found. The Pacific Islands received more than $40 billion in development assistance between 2008 and 2021, with development finance…

The numbers: The productivity of American workers rose at a 4.7% annual clip in the third quarter, the government said Thursday. Economists surveyed by the Wall Street Journal had projected a 4.3% decrease.  That’s the fastest rate since the third quarter of 2020. Over the past four quarters, U.S. productivity…

The Bank of England (BoE), under the leadership of Governor Andrew Bailey, is expected to maintain its interest rate at 5.25% in the upcoming meeting, despite the prevailing inflation rate of 6.7%, which significantly overshoots its target of 2%. The confidence in this decision is rooted in the belief that…

The numbers: The number of Americans who applied for unemployment benefits last week rose by 5,000 to a seven-week high of 217,000, suggesting some softening in a sturdy U.S. labor market. New jobless claims increased from a revised 212,000 in the prior week, the government said. Claims still show a…