These are the stocks posting the largest moves before the bell.Market Insiderread more
A Ministry of Commerce spokesperson did not mention any U.S. actions specifically, but it's been a tense couple of weeks for the trade negotiations.World Politicsread more
U.S. stock index futures were sharply lower Thursday as U.S.-China trade worries persisted with more companies suspending business with Chinese telecom giant Huawei.US Marketsread more
Tesla was set for its seventh straight day of losses after more analysts joined the growing list of those concerned with its finances.Investingread more
British Prime Minister Theresa May could announce her resignation in the next few days, according to U.K. media reports, as she faces increasing pressure from members of her...Europe Politicsread more
With Tesla shares skidding, two experts weigh in on what could be next for the automaker and its volatile stock.Trading Nationread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
Strategist Robert Buckland says global stocks have gained 7% on an annualized rate since 2010, which how much dividends have gone up in that time.Marketsread more
Analysts at Barclays "can't believe it's not meat," projecting huge growth for the nascent alternative food industry over 10 years.Investingread more
Makan Delrahim still has not made up his mind and appears to remain open to the potential $26.5 billion merger of T-Mobile and Sprint.Technologyread more
Chinese government-aligned experts are stressing that the U.S. will need to negotiate a trade agreement with Asia's largest economy.China Economyread more
Artificial intelligence could contribute an additional 1.2 percent to annual gross domestic product growth for at least the next decade, according to a simulation from McKinsey Global Institute.
Overall, AI could deliver $13 trillion in additional global economic activity by 2030, putting its contributions to growth on par with the introduction of other transformative technologies such as the steam engine, McKinsey said in a report released Wednesday morning Hong Kong time.
The institute's model expects about 70 percent of companies will adopt at least one form of AI by 2030, and that a significant portion of large firms will use a full range of the technology.
AI uses large data sets and algorithms to mimic human behavior. The world's two largest economies, the U.S. and China, are both racing to invest heavily in the technology. Beijing, in particular, has made AI part of its five-year plan that runs through 2020 and wants to become a leader in the technology by 2030, the McKinsey report pointed out.
"Without AI, China might face a challenge to achieve its target growth rate," Jeongmin Seong, one of the report's authors and a senior fellow at McKinsey Global Institute in Shanghai, said in an interview with CNBC.
He noted that China's labor productivity is below the global average, while the economy is transitioning to one reliant on consumption. Seong said he expects AI to have a significant impact in sales and marketing, which could boost consumer spending.
He also predicted AI will produce notable returns for supply chain and manufacturing businesses.
The McKinsey report laid out how AI will likely impact the economy through multiple channels, including helping or augmenting human labor, substituting it, expanding available products and services, increasing global data flows and creating wealth.
But the report noted the implementation of the technology will likely incur a range of corporate and societal restructuring costs, as well as disrupt employment, reducing consumption.
"The productivity enhancing, labor-saving technology is a challenging issue for all of the economies in the world," Takashi Miwa, chief Japan economist at Nomura, said at a press briefing on Tuesday. Technologies such as AI will likely lead to greater income inequality, he said.
The McKinsey analysis found that countries that establish themselves as AI leaders — mostly developed economies— could capture 20 to 25 percent more in economic benefits compared to current levels. Emerging economies may only gain half of that, the report said.
"This inequality is not given," Seong said. "The future is up to us to shape."