LONDON: Bank of England Governor Andrew Bailey said that Artificial Intelligence has the potential to be the next great technological leap that transforms the economy, but warned that Britain must work with it to reverse a prolonged slowdown in productivity growth. In a speech drawing on lessons from economic history, Bailey said the nature of…
NORTH BALTIMORE: Nickolas Asset Management (NAM), together with the Reinhart Family of Companies and its portfolio company Configure Brands, announced today the acquisition of OGO and Medal Technologies, including a 32,500-square-foot production facility in North Baltimore. The acquisition is designed to significantly expand manufacturing capacity for the combined entities. The facility will immediately begin producing…
SYDNEY: Australia’s central bank kept its benchmark interest rate steady at 3.85% on Tuesday, resisting pressure for an immediate cut as policymakers seek more evidence that inflation is sustainably easing toward target. The Reserve Bank of Australia’s decision surprised economists, most of whom had forecast a 25-basis-point reduction following softer-than-expected inflation data in May. The RBA…
AUCKLAND: Meridian Energy will soon begin construction of a new $395 million wind farm in Hawke’s Bay, a news release said. The Harapaki Wind Farm will be New Zealand’s second-largest wind farm with 41 turbines generating 176 MW of renewable energy, enough to power over 70,000 average households. The construction will take around three years…
Founded in 1899, AM Best is the world’s first credit rating agency. It all began with the founder working out of a one-room office in New York City and grew to become what is now the largest credit rating agency in the world specializing in the insurance industry. Headquartered in the United States, the company…