EUR/USD
1.11319
-0.284%
Gold
4041.51
0.218%
Oil
86.235
0.925%
USD/JPY
159.182
0.268%
GBP/USD
1.33128
-0.235%
GBP/JPY
211.920
0.040%
Real-time News
Market news: Kazakhstans national railway operator, Kazakhstan Railways (KTZ), has been approved to conduct its initial public offering (IPO) in Hong Kong.Wells Fargo lowered its price target for Occidental Petroleum (OXY.N) to $76 from $82.On November 11th, economists estimated that artificial intelligence (AI) will drive about a quarter of the UKs economic growth this year, but this also exposes the UK to the risk of a global decline in the valuation of AI-related assets. AI-related activities, including data center construction and AI model development, are projected to contribute 0.45 percentage points to UK economic growth by 2026, while the overall UK economic growth is estimated at around 1.8%. Economist Ana Andrade stated that AI technology is providing growth momentum for the UK economy. The report points out that the extent to which the UK is affected by the recent sell-off in AI-related stocks depends on whether this market correction evolves into a disorderly decline similar to the financial crisis or a more orderly valuation reassessment. Currently, AIs contribution to economic growth still mainly comes from the production and development of the technology itself, rather than its widespread application throughout the economy. Andrade stated that as AI becomes more widely adopted, its benefits are expected to manifest as increased productivity across multiple industries. This report further demonstrates that AI is driving UK economic growth. The Bank of England previously estimated that the widespread application of AI technology contributed about one-fifth of the UKs economic growth this year.British Prime Minister Burnham: No final decision has been made on the Skynet contract yet.British Prime Minister Burnham: EU agreement could increase UK GDP by 0.4%.
