Latest news with #AnnaWong
Bloomberg
6 days ago
- Business
- Bloomberg
Single Best Idea: Li & Wong
Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Wei Li & Anna Wong. Watch Tom and Paul LIVE every day on YouTube:
Straits Times
20-06-2025
- Business
- Straits Times
S'pore app using AI to combat illegal wildlife trade acquired by US start-up
The app was born from a collaboration between NParks, Microsoft Singapore and non-profit group Conservation International. PHOTO: ST FILE S'pore app using AI to combat illegal wildlife trade acquired by US start-up SINGAPORE - A mobile application launched in Singapore in 2022 to combat illegal w ildlife trade has been acquired by a US-based biodiversity technology firm. The app, called Fin Finder, is the first-of-its-kind in Asia which uses artificial intelligence (AI) to help border enforcement officers identify illegally traded shark and ray fins. Users are able to upload a photo of a fin on the app and its algorithm will analyse its shapes and patterns to identify the species of origin. Born from a collaboration between Singapore's National Park Board (NParks), Microsoft Singapore and non-profit group Conservation International, the app was acquired by Washington-based Conservation X Labs in April 2025. Since its launch, the app has been adopted by law enforcement agencies in 32 countries, and has an accuracy level of 89.4 per cent, NParks said in response to The Straits Times' queries. Over the years, it has also been regularly updated with the appendix status of each species in the Convention on International Trade in Endangered Species of Wild Fauna and Flora (Cites), which outlines its level of protection under international trade laws, the agency added. While Conservation X Labs will manage the app, moving forward, NParks said that it remains an implementing partner and user. Dr Anna Wong, NParks' senior director of wildlife trade, said: 'Using technology like Fin Finder can strengthen enforcement against the illegal trade of shark and ray species, and enhance Singapore's capabilities in conserving biodiversity.' She added that the app' s creation has highlighted the importance of cooperation between the public and private sectors in fighting illegal wildlife trade. In an April 2025 statement to app users, Conservation X Labs, which helped to build Fin Finder's machine learning models, said that the acquisition may enable further development in its image analysis technology, and the expansion of the app's reach. A free, rapid identification tool Fin Finder's biggest strengths, said its founders, is that it is a free-to-use, rapid identification tool. In the shark's fin trade, fins are often imported in containers with mixed shipments, said Dr Andrew Rhyne, a professor of marine biology at the Roger Williams University and one of the app's founders. As a result, a percentage of the shipment are often fins of Cites-protected species, which are nestled among those that are not. Dr Rhyne said: 'High-quality, rapid identification tools that are inexpensive and accurate would be very useful for customs and border agents.' Fin Finder is part of a two-step process, he explained, where enforcement officers first use the app to identify species that have been illegally traded before confirming this through DNA testing. This is crucial given the sheer volume and diversity of wildlife products that pass through country borders, said Dr Michael Tlusty, a professor of sustainability and food solutions at the University of Massachusetts Boston and another of the app's founders. Citing a recently published paper which found that nearly 30,000 species of animals were imported into America over two decades, he said: 'Nobody's going to know 30,000 species, so these automated tools make the job of customs agents much easier.' The app's usage over the past years has also resulted in over 4,000 photos of shark fins, which Dr Rhyne said is valuable information that can help its developers fortify its AI model. Scaling up for global use Looking ahead, Fin Finder's founders said possibilities for the app are limitless. Mr Eric Fegraus, a former senior director of technology at Conservation International who led efforts to develop the app, said: 'It could scale to other species – certainly, more sharks – and be implemented in other areas in the world where it's needed.' Dr Tlusty, likewise, believes that the app's technology can be modified to identify other animal derivative products. He said: 'As we build more identification algorithms, such as edge detection and spot recognition, we can even start combining them.' Ultimately, Mr Fegraus said it is about developing flexible technology that can be used to enforce the regulations of the day. While he acknowledges that ideological debates on whether mankind should even fish for animals, like sharks, remain necessary, he said having the tools to aid in enforcement are equally important. 'Particularly around wildlife, we've got to, at the minimum, enforce the rules, and then eventually, we have to change the rules,' he said. Join ST's WhatsApp Channel and get the latest news and must-reads.
Bloomberg
06-06-2025
- Business
- Bloomberg
Balance of Power: Early Edition 6/6/2025
On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the continued fallout between President Donald Trump and Elon Musk. On today's show, Bloomberg Economics Chief US Economist Anna Wong, Former New Hampshire Governor Chris Sununu, Study for the Presidency and Congress Senior Democracy Fellow Jeanne Sheehan Zaino, Former RNC Communications Director Lisa Camooso Miller and Groundwork Collaborative Senior Fellow Kitty Richards. (Source: Bloomberg)
Bloomberg
25-04-2025
- Business
- Bloomberg
Anna Wong: Empty Shelves Are Coming Soon
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify Subscribe to the newsletter If you look at most of the official hard data right now, there still isn't much evidence of a sharp downturn. Sure, all the surveys are abysmal, but the actual measures of economic activity are doing fine. But there is already data showing something severe is happening, and that can be seen in the volume of cargo flowing from China to the US. Of course, this is intentional. This is the whole point of tariffs. But the fear is that this is going to be acute and dramatic to consumer companies, and that it will happen very soon. On this episode of the podcast we speak with Anna Wong, Chief US Economist at Bloomberg Economics, who walks us through the real life and macro-economic impact of what we've already seen. She says that the tariffs hit right at the moment that major retailers are planning for their holiday merchandise, and that before too long we'll start seeing fewer goods and fewer varieties of all kinds of things. We also discuss the inflation dynamics, and how tariffs may not show up in terms of higher CPI, but instead through higher layoffs, compressed profit margins, and falling real wages.
Yahoo
22-03-2025
- Business
- Yahoo
Sticky US Inflation and Tariffs Are Keeping the Fed Sidelined
(Bloomberg) -- US inflation remains at a disquieting level for Federal Reserve officials, just as the Trump administration moves forward with tariffs that risk keeping price pressures elevated. Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says New York Subway Ditches MetroCard After 32 Years for Tap-And-Go LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs Despite Cost-Cutting Moves, Trump Plans to Remake DC in His Style Amtrak CEO Departs Amid Threats of a Transit Funding Pullback The personal consumption expenditures price index excluding food and energy — the Fed's preferred measure of underlying inflation — probably rose 0.3% in February for a second month, based on a Bloomberg survey. The so-called core gauge is estimated to have accelerated to a 2.7% annual pace. The government's report on Friday is also expected to show consumer spending firmed after a tepid start to 2025, while income growth moderated after rising a month earlier by the most in a year. Consumer outlays, unadjusted for price changes, are forecast to have climbed 0.5% after the biggest weather-driven retreat in nearly four years. Personal income is seen rising 0.4%. What Bloomberg Economics Says: 'Monthly core PCE inflation likely rose to 0.35% in February (vs. 0.28% prior), double the pace consistent with the Fed's 2% target. Price increases across goods, health care, and financial services more than offset declines in other sectors. Given firm inflation and solid spending, the Fed's decision to hold rates at the March FOMC meeting and revise up inflation forecasts will likely appear justified.' —Anna Wong, Stuart Paul, Eliza Winger, Estelle Ou and Chris G. Collins, economists. For full analysis, click here The latest inflation and spending numbers provide a snapshot of price pressures and economic activity leading up to President Donald Trump's planned April 2 announcement on reciprocal tariffs — which Trump has dubbed 'Liberation Day in America.' General uncertainty about the impact of the duties help explain why Fed officials kept interest rates unchanged last week. After the meeting, Fed Chair Jerome Powell said policymakers have scope to stand pat on rates to get a better handle on how the administration's policies will impact the economy and inflation. Fed Governor Adriana Kugler and St. Louis Fed President Alberto Musalem are among the US central bankers speaking in the coming week, while Atlanta Fed President Raphael Bostic will appear on Bloomberg TV on Monday. Other economic data on the agenda include February durable goods orders, which may offer a sense of whether companies are becoming more cautious about their capital spending plans. Economists will also use a report on February merchandise trade to help shape estimates of first-quarter gross domestic product. The imports data, however, will probable be skewed once again by a surge in inbound gold that won't be included in the government's GDP estimate. On Friday, the University of Michigan will issue its final March consumer sentiment survey, including year-ahead and long-term inflation expectations. For more, read Bloomberg Economics' full Week Ahead for the US In Canada, investors await Prime Minister Mark Carney's likely call for an election. Meanwhile, the Bank of Canada will release a summary of deliberations that led to its seventh straight rate cut, as officials weighed a pickup in core inflation against the economic impact of Trump's trade threats. Also due in Canada are GDP data, including a flash estimate for February, which may reflect a surge in exports as US importers scrambled to front-run higher tariffs. Click here for what happened last week, and below is our wrap of what's coming up in the global economy. Asia The week is looking fairly light for major economic data and central banks. First on the docket is an early look at manufacturing activity in March, with preliminary purchasing managers index readings from Australia, Japan, and India. Factory activity has been relatively anemic in recent months, barring a few exceptions, as tariffs loom and domestic and international demand cools. There's also a series of inflation readings for February, starting with Singapore consumer price data on Monday set to show a slight slowdown. Australian CPI is out on Wednesday, as price increases likely held around 2.5% — above the central bank's comfort level. Japan producer prices for services, also reported on Wednesday, are expected to show inflation continuing to pick up in line with the government's goal. Wednesday is also likely to see Sri Lanka's central bank keep rates unchanged. As the world veers closer to April 2 and expected reciprocal tariffs from Trump, there'll be a closer look at trade data. That comes in the form of import and export figures from Hong Kong on Tuesday, then Sri Lanka and the Philippines on Friday. Tokyo department store sales are reported on Tuesday, as is March consumer confidence in South Korea that's expected to show lingering pessimism amid economic and political challenges. The following day, a composite survey of manufacturers provides another look at sentiment. Taiwan's industrial production activity in February comes Tuesday, and will provide a gauge of demand for chips and other technology as tariffs loom. That's followed a day later by Singapore industrial production numbers, expected to show a drop in monthly activity. Other signals on the regional economy come in the form of February Macao hotel occupancy data on Thursday — the prior month showed a 90% rate — and Pakistan GDP figures on Wednesday that are set to show a growth pickup in the fourth quarter. Figures on February car sales in Thailand are released some time during the week. For more, read Bloomberg Economics' full Week Ahead for Asia Europe, Middle East, Africa Chancellor of the Exchequer Rachel Reeves will present her UK fiscal update to parliament on Wednesday, and probably unveil cuts to spending and welfare. Borrowing is on track to overshoot her projections in the fiscal year that ends imminently, and independent forecasts may show a need to heap on more debt. The same day, UK inflation will be a highlight after Thursday's Bank of England's decision to keep borrowing costs unchanged in the face of heightened trade uncertainty. Price growth is seen slowing slightly, to 2.9% — still well above the 2% level targeted by policymakers. Retail sales come on Friday, as well as a final reading of GDP for the fourth quarter. Also of interest will be appearances by BOE Governor Andrew Bailey on Monday, followed on Thursday by Swati Dhingra, the sole official who voted for a cut. In Germany, where a huge fiscal package to retool the country's defenses passed its final parliamentary hurdle on Friday, the closely-watched Ifo index of business confidence will be released on Tuesday, with all gauges expected to show improvement. In the wider euro zone, PMIs are coming on Monday, and economic confidence along with the European Central Bank's measure of inflation expectations will arrive at the end of the week. Consumer-price readings from France and Spain are also due on Friday. Several policymakers are scheduled to speak, including ECB Executive Board member Isabel Schnabel in London on Thursday. Turning to the Nordics, Sweden's Riksbank on Wednesday releases minutes from its latest meeting, where officials kept rates on hold and reiterated an end to easing. The country's economic tendency survey is due the same day. Norway's central bank faces a close decision on Thursday on whether to deliver its long-communicated first rate cut from 4.5%. A surprise surge in inflation in the past two months, together with data showing a resilient labor market and stronger economic activity, might prompt another postponement. Increased uncertainty about whether Norway could suffer from Trump's expanding trade war is further clouding the outlook for Governor Ida Wolden Bache and colleagues. Analysts at Nordea Bank Abp have already scrapped forecasts for any easing by Norges Bank this cycle. For more, read Bloomberg Economics' full Week Ahead for EMEA Several other central bank decisions are scheduled across the wider region: Lesotho, whose currency is pegged to the rand, is likely to follow South Africa's central bank and leave its key rate unchanged at 7.25% on Tuesday. The same day, Hungarian Governor Mihaly Varga helms the first monetary meeting of his tenure. The central bank is widely expected to keep its rate at 6.5% for a sixth month after a resurgence of inflation. Czech policymakers will set borrowing costs in Prague the following day. No change is expected. Also on Wednesday, Mozambique officials are poised to cut their key rate for an eighth straight time to boost an economy shaken by months of unrest. And in Ghana on Friday, the central bank will probably stand pat on borrowing costs for the third time in a row to curb sticky inflation. Latin America In Brazil, the central bank posts minutes of its March 18-19 meeting, where policymakers delivered a third straight 100 basis-point rate hike, to 14.25%. The post-decision statement was less hawkish than some had expected, with forward guidance confined to tipping a smaller hike at the next meeting in May. Analysts see a further 100 basis points of tightening before the fourth quarter. On Thursday, the central bank's quarterly monetary policy report may sound much like December's: expect higher rates and slower growth along with persistently elevated inflation prints. The mid-month inflation report will likely show consumer prices drifting further above policymakers' 3% target from mid-February's 4.96% print. Chile will report February unemployment while the central bank there posts its quarterly inflation report. Growth and inflation are above its forecasts, suggesting output is running above potential. Banxico policymakers get fresh economic growth and consumer price data ahead of their Thursday rate decision. Inflation is back within the target range but more to the point, analysts are marking down Mexico's 2025 and 2026 GDP forecasts, with the OECD even predicting a recession this year and next. Analysts in the latest Citi survey unanimously expect Banxico, led by Governor Victoria Rodriguez, to cut the key rate by a half-point for a second straight meeting on March 27, to 9%. For more, read Bloomberg Economics' full Week Ahead for Latin America --With assistance from Vince Golle, Ott Ummelas, Shiyin Chen, Robert Jameson, Monique Vanek, Mark Evans, Laura Dhillon Kane and Katia Dmitrieva. 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