SNB Denies FX Manipulation After US Treasury Puts Swiss on List
The Swiss National Bank denied being a currency manipulator after the US Treasury added Switzerland to a list of economies it is closely monitoring over foreign-exchange practices.
'The SNB does not engage in any manipulation of the Swiss franc,' it said in an emailed statement. 'It does not seek to prevent adjustments in the balance of trade or to gain unfair competitive advantages for the Swiss economy.'
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Forbes
39 minutes ago
- Forbes
AI-Driven Robots Are Rewriting The Factory Rulebook
In cognitive manufacturing, production is being transformed as humans increasingly work alongside ... More intelligent robots. We are entering a new industrial revolution, the cognitive industrial revolution, where manufacturing is again being transformed through the growing use of technologies such as artificial intelligence (AI), advanced robots, data, digital twins, and the internet-of-things (IoT). This revolution builds on the progress of the past by further automating, optimizing, and integrating intelligence into every aspect of production. It's an unparalleled economic disruption that will require timely knowledge and investment by leaders. At the leading edge of this revolution is the increasing adoption of robots. But these aren't the robots of the past. These are machines embedded with AI, something we now call physical AI, and behave with increasing amounts of agility and autonomy. A lot of us find robots fascinating and it's probably because they occupy an outsized role in contemporary science fiction literature and movies. For many, a combination of the Daleks from BBC's Doctor Who, and the droids, C3PO and R2D2 from Star Wars, form some early impressions. These narrow representations of robots probably limited our views of what role they could play in real life. The term robot means, surprisingly, but perhaps aptly, forced labor, and it's derived from the Czech word, Robota, first used in Karel Capek's 1920's play, 'Rossum's Universal Robots.' Robots are defined as mechanical machines, particularly those that are controlled by a computer and carry out complex actions. Robots can look like humans, we call them humanoids, but they're just as likely to take the form of a Roomba device that vacuums carpet, a single arm that welds metal joints in a factory, or a laparoscope in a hospital operating room. Unimate pouring coffee for a woman at Biltmore Hotel in 1967. 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Photographer: Jeffrey Dean/Bloomberg Today, significantly improved engineering coupled with AI is ushering in a new generation of robots and the era of cognitive manufacturing. These machines can perceive the world around them, make decisions and act autonomously to a degree, all while performing impressive movement. With less constraints, robots are showing success in mimicking a wide variety of human tasks. Many organizations are experimenting with and already deploying humanoids in areas such as human collaboration—the term cobot is used to describe when a robot assists a human in their work, and in a manufacturing context where tasks are dangerous, repetitive, or require significant strength. Perhaps the most striking development in cognitive manufacturing and robotics is the emergence of dark factories or lights-out manufacturing. This is when the entire production process operates independent of human participation. You could think of it as the ultimate end-state of automation. 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Yahoo
42 minutes ago
- Yahoo
Manchester United Forward Set for Exit as €60m Valuation Attracts Interest
Garnacho Edges Towards Exit as Manchester United Lower Price Tag Rising Star Now On Transfer List Alejandro Garnacho's time at Manchester United appears to be drawing to a close. According to Rudy Galetti via X, the club have significantly reduced their asking price for the 20-year-old Argentina international. 'As reported over ten days ago on TEAMtalk, Napoli, AC Milan, Bayer Leverkusen, Atletico Madrid and Chelsea have recently shown interest in Garnacho,' Galetti stated, adding: 'Other clubs are now preparing to step [up for the] forward. Man Utd value him at ~€60m, a figure seen as more affordable than the January price.' Advertisement United's decision to cut the forward's price from the £60–70 million range to around £50 million (€60m) is not merely a market move, it's a message. Garnacho is no longer deemed essential to their future plans. The club want to generate capital to fund new signings, and Garnacho joins Marcus Rashford, Jadon Sancho and Antony on the list of high-profile attackers who could depart this summer. Undeniable Talent, Unsettling Behaviour Garnacho has always been a source of hope and frustration in equal measure. With 11 goals and 10 assists across all competitions last season, he was United's second most productive player behind Bruno Fernandes. But the flair on the pitch has been offset by immaturity off it. His response to United's Europa League final loss, calling the season 's***', and a series of poorly judged social media posts have not endeared him to the club's hierarchy. Advertisement It is, according to transfer insiders, not just the manager's decision. Fabrizio Romano reported: 'Alejandro Garnacho will leave Manchester United… the decision is made, not only on Ruben Amorim's side, but also [on the] management side.' Market Gathers Pace Interest in Garnacho is expected to intensify. Napoli had a £42m bid turned away in January, while Chelsea, Atletico Madrid and Bayer Leverkusen are all keeping tabs. For now, Chelsea seem focused on Jamie Bynoe-Gittens, but should that pursuit falter, Garnacho could re-emerge as a priority target. Romano further revealed that 'three Premier League clubs have called for Garnacho,' though only Chelsea's name has surfaced publicly. Others, believed to be in the top half of the table, are monitoring developments closely. Advertisement Leverkusen's financial position may limit their chances, while AC Milan and Napoli are also constrained unless sales are made. The Premier League, with its spending power, remains Garnacho's most likely destination, albeit in a different shade of red or blue. Photo: IMAGO Strategic Exit or Misstep? United's decision to sell Garnacho at 20 years old, just as his numbers begin to climb, reflects a broader shift in their rebuild strategy. Attitude, adaptability, and application are now prioritised over raw talent. It's a bold approach, but whether the club will regret letting such a gifted wide man go remains to be seen. Advertisement With a new regime in place and a summer of change on the horizon, Garnacho looks set to become one of the window's most talked-about departures. Our View – EPL Index Analysis For United fans, watching Garnacho walk out the door at just 20 years old will sting. There's no doubting his raw talent, his stats from last season speak volumes. He produced moments that excited fans and gave the team attacking width and directness it often lacked. However, supporters are divided. Some feel his attitude and public comments have reflected a lack of maturity, while others argue that passion is being mistaken for petulance. Still, in an era where clubs fight tooth and nail to keep their brightest prospects, seeing Garnacho sold, especially at a reduced fee, raises questions about United's long-term vision. If he thrives elsewhere, it may become yet another painful footnote in a period littered with costly missteps.
Yahoo
an hour ago
- Yahoo
Suze Orman: 2 Ways for Retirees To Manage Multiple IRAs
Juggling multiple individual retirement accounts (IRAs) can get complicated. 'If you have multiple traditional IRAs, you are setting yourself up for some potential headaches once you reach the age where you must begin to take required minimum distributions (RMDs),' financial expert Suze Orman wrote in a recent blog post. Depending on the year you were born, this age is either 73 or 75. If you're currently retired, but haven't reached the age when you are required to take distributions, take note of these strategies now to make managing your multiple IRAs simpler. Check Out: Read Next: If you have multiple traditional IRAs, the best way to make managing them easier is to roll all of your accounts into one. 'You can move money from one traditional IRA into another traditional IRA without any tax bill,' Orman wrote. 'It's just a rollover. If you have multiple traditional IRAs at the same brokerage, call them and you might be able to consolidate all of them with just a phone call. 'If you have traditional IRAs at different brokerages, decide which one you want to keep, and then ask for rollover instructions from the brokerage you will move your money out of.' The money should be transferred directly from one account to the other — otherwise, there may be tax implications. Consolidating your accounts is the strategy Orman recommends if you currently have multiple IRAs. 'The less you have to keep track of as you age, the easier you are making it for an older you, and anyone who might eventually step in and help manage your finances,' she wrote. 'One big traditional IRA account that simplifies your life to one RMD is a wise retirement move.' See More: If you don't want to consolidate your accounts, your other option to make things simpler is to take your total RMD amount from one account instead of having to take distributions from each. 'For instance, if you have four IRAs, calculate the RMD for all four. (Your brokerage will have a free online tool to help with this. It's an easy calculation.),' Orman wrote. 'Then, add up all four.' The example Orman gives is that you have an IRA with an RMD of $2,000, an IRA with an RMD of $4,000, an IRA with an RMD of $2,500 and an IRA with an RMD of $3,500. That means in total, you must withdraw $12,000. 'If you want, you can take a $12,000 RMD from one of the IRAs,' Orman wrote. 'All the IRS cares about is that you satisfy your total RMD obligation.' This move allows you to be more strategic. 'This strategy can be helpful if you invest your IRAs a bit differently,' Orman wrote. 'In years when stocks are down, you might want to avoid taking the RMD directly from an IRA heavily invested in stocks, and instead take it from an IRA with cash or bonds.' More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 This article originally appeared on Suze Orman: 2 Ways for Retirees To Manage Multiple IRAs
