This article originally appeared at 07:30 ET on Tuesday on Real Money, our premium site for active traders. Click here to get great columns like this from Brian Sozzi and other writers even earlier in the trading day If comments from Alibaba's (BABA) founder Jack Ma on Monday weren't enough to ruin your view of the future, allow former Federal Reserve chairman Ben Bernanke to add an extra dose of depression on Tuesday. "We might have lower tax rates, maybe balanced to some extent by closing some loopholes, that would be a better policy," Bernanke said in a new interview with the New York Times. "I don't think it's going create a productivity miracle or anything like that, but it would be more
Starbucks (SBUX) all-important U.S. business continues to be in need of a jolt. On Thursday, the coffee king said comparable store sales in the U.S. rose a scant 3% for the three months ended April 2, 2017, mimicking its first-quarter showing. Analysts surveyed at Factset were looking for same-store sales growth of at least 3.7%. In China, comparable store sales climbed 7%. New Starbucks CEO Kevin Johnson, who took over from longtime leader Howard Schultz earlier this month, predicted stronger revenue growth in the U.S. for the second half of 2017. He contended that the U.S. business is accelerating and performance in China is vigorous. Earnings of 45 cents a share only came in line with analysts'
People like famed physicist Stephen Hawking and Tesla's Elon Musk have issued dark warnings of a world where computers become so sophisticated, so quickly, that humanity loses control of them—and its own destiny as a result. Yet Peter Norvig, a leading artificial intelligence scientist and a director of research at Google, thinks that's far-fetched. "I don't buy into the killer robot [theory]," he told CNBC this week. The real worry is how to prepare for the mass elimination of jobs that is surely coming, he said. "I certainly see that there will be disruptions in employment … we've already seen a lot of change, that's going to continue," Norvig said in an interview, before a lecture on machine