Iran Mulls Allowing Tankers Through Strait Of Hormuz If Trade Conducted In Yuan

A Robot Economy: Who Gets Rich, Who Gets Left Behind Authored by Lance Roberts via RealInvestmentAdvice.com, Robots are coming to the economy. It is inevitable, really, and there is nothing that will stop it. At some point in the not-so-distant future, robots will infiltrate every aspect of our lives, from office work and manufacturing to service work and trade skills, and even your home. Here are some numbers for you. The real question I want to explore in today’s post is what happens to the people who don’t own the robots? Let’s...

Multifamily CRE Meltdown Keeps Getting Uglier Authored by Wolf Richter via Wolf Street,There are about $2.3 trillion in multifamily commercial real estate (CRE) loans out there, backed by buildings with rental apartments. The US government, via Fannie Mae and Freddie Mac, holds about $1.2 trillion of that. Fannie and Freddie have become very aggressive multifamily CRE lenders. So, dear taxpayer, you're on the hook for about half of the multifamily CRE debt.The rest is held around the globe by banks, insurance companies, real estate funds, alternative asset managers - a...

Major US Banks Are Detecting Unauthorized AI Agents Accessing Customer Accounts America’s largest banks are scrambling to defend themselves against a new and rapidly evolving security threat: artificial intelligence agents gaining access to customer accounts, sometimes behaving in ways that appear to go beyond what their human users originally authorized, according to Axios.  Major financial institutions including JPMorgan Chase, Bank of America, Morgan Stanley, Wells Fargo and Citigroup are confronting the growing presence of third-party AI assistants inside their banking platforms. Some institutions have detected unauthorized agent activity, while others are...