Use of machine learning technologies to compile credit ratings can shorten time for issuing loans and increase financial inclusion in developing countries, a report by the International Monetary Fund states. However, preserving human-level control over financial decisions will still be an important safety requirement. Otherwise, decisions of banking programs, inexplicable from the point of view...

The massive outflow of capital from China against the escalation of the trade war with the United States provoked a sharp increase in Bitcoin rate. Is there any chance that the positive dynamics of the cryptocurrency will last longer? In May, private investors and blockchain geeks watched sudden appreciation of the already somewhat forgotten digital asset, Bitcoin, which was a hot investment idea...

Sharp aggravation of relations between Iran and the United States could lead to a new conflict in the Middle East. The United States is reinforcing the military in the region and asking its citizens in the Arab countries to be vigilant. At the same time, the Iranian leadership is calling for the population to resist. Against this background, uncertainty in the oil market is growing. On May 15,...

Facebook, Google and Amazon won an economic victory over the traditional publishing business under current conditions of unequal competition, and this situation requires intervention at the level of EU and national government policies, says Hubert Burda Media executive board member Philipp Welte. “American technology corporations have mastered our markets and are using our content, while...

The cost of bitcoin has updated the ten-month maximum, closely approaching the level of $ 8 thousand. For three weeks, the cryptocurrency added more than 50% in price. Such dynamics can be explained by high interest on the part of institutional investors, who have moved from words to business. Currently, they are registering crypto ETFs, as well as developing infrastructure for working with such...

Le Monde newspaper got access to a study on the feasibility of a tax on aviation fuel, ordered by the European Commission in the middle of 2017. The report states that EU authorities can, without serious consequences for the industry, impose a fuel tax on airlines at the rate of € 0.33 per liter. Authors of the report promise that this innovation will have three consequences: the tickets will...

Business lacks funding because the authorities have tightened control over the shadow banks, Bloomberg found out. From the beginning of the year, Chinese firms, have already defaulted on domestic bonds worth $ 5.8 billion. The Chinese bond market in 2019 may face the largest default (up to $ 13 trillion) in its history. This is evidenced by a study of Bloomberg. According to data collected by...

Donald Trump cancelled permits for the purchase of Iranian oil for the G8 countries, thus trying to reset Tehran's oil exports. Before doing it, he gained support of Riyadh and Abu Dhabi to compensate for about a million barrels of Iranian oil per day that would be withdrawn from the market. An increase in oil production will naturally lead to a decrease in its prices. The Saudis do not want to...

One of the largest cryptocurrency exchanges in the world, Binance, reported that hackers managed to withdraw more than 7,000 bitcoins from it in one day, and also to steal some of its users' data. The amount stolen by hackers exceeds $ 40 million. The incident was reported on Binance’s blog by its CEO Zhao Zhangpeng. According to Mr. Zhao, the exchange has experienced a "large-scale hacker...