Reckless mortgage lending was blamed for the financial crisis of 2008, which brought some banks to their knees and saw people lose their homes.

In 2014, the business secretary of the time, Vince Cable, said he was appalled that some mortgage providers were lending five times a mortgage applicant’s income, suggesting a stable level was up to 3.5 times.

But house prices have risen significantly since, outstripping wage rises most of the time. So a bigger loan has become the only option for many potential buyers.

Regulation limited how much lenders were able to lend – technically, only 15% of their new mortgages could be at higher than 4.5 times loan-to-income. Many of the big lenders played it very safe meaning they didn’t get close to the limit.

This article was written by

Follow

Palantir CTO Shyam Sankar stated that China has advanced its artificial intelligence capabilities by developing new models through unauthorized means. This development signifies a significant escalation in global AI competition, highlighting concerns over intellectual property breaches and the potential impact on technological leadership. The move underscores the importance of safeguarding innovation in the rapidly evolving AI landscape.

Palantir’s CTO has expressed concerns that Chinese AI models could pose significant economic risks to the United States. As China accelerates its development of advanced artificial intelligence technologies, there is growing concern over the potential for these models to undermine American competitiveness. Chinese AI innovations are rapidly progressing, closing the innovation gap and creating new strategic advantages for China in the global economy.

The CTO highlighted that Chinese AI models could be used to enhance espionage, cybersecurity threats, and economic espionage, potentially compromising US businesses and government operations. This increased capability might lead to a loss of technological edge, threatening America’s leadership in key industries. The worry extends to the potential for China to leverage AI for economic dominance in sectors like finance, manufacturing, and defense.

To counter these risks, Palantir advocates for stronger investments in AI research and development within the US. Enhancing domestic AI capabilities and establishing robust regulatory frameworks are seen as essential steps to safeguard national security and maintain economic stability. The official emphasized that staying ahead in AI is vital to ensuring America’s technological and economic resilience amid global competition.

source

Other People are Reading

Thailand’s Tourism Minister introduced the 2027 Action Plan, emphasizing high-value tourism growth through innovation, data integration, and targeting premium markets, while promoting sustainability and year-round travel.

Key Points

• Overview of the Action Plan: Minister Surasak Phancharoenworakul launched the Tourism Authority of Thailand (TAT) Action Plan 2027 in Bangkok on July 13, 2026, focusing on positioning Thailand as a high-value tourism destination. Key officials, including Permanent Secretary Natthriya Thaweevong and TAT Governor Thapanee Kiatphaibool, highlighted strategic marketing policies and tourism’s role in the economy.
• Strategic Guidelines: The action plan emphasizes four strategic guidelines: elevating Thailand as a high-value destination, enhancing competitiveness through market balance, advancing the industry via data and innovation, and developing a high-performance organization. Integration of data, technology, and AI is crucial for sustainable travel experiences.
• Focus on Transformation: The TAT identified 2027 as “The Year of Transformation,” shifting its focus from tourist volume to high-value travelers through targeted demographics, promoting secondary cities, and developing sustainable tourism. An upcoming Market Briefing on July 21, 2026, will connect local operators with global market opportunities, with detailed marketing directions to be announced in August 2026.

Tourism Minister Outlines 2027 Action Plan to Position Thailand as a High-Value Destination

Minister of Tourism and Sports Surasak Phancharoenworakul opened the Tourism Authority of Thailand Action Plan 2027 meeting in Bangkok on July 13, 2026. He was joined by Permanent Secretary and Board Chairwoman Natthriya Thaweevong and TAT Governor Thapanee Kiatphaibool to present strategic marketing policies to position Thailand as a high-value regional destination.

​The minister emphasized tourism’s role as a primary economic driver and outlined four guidelines for quality, balanced, and sustainable growth: elevating Thailand as a high-value destination, increasing competitiveness through market balance, advancing the industry with data and innovation, and building a high-performance organization. Permanent Secretary Natthriya supported this vision, highlighting the importance of integrating data, technology, and artificial intelligence in planning to strengthen national competitiveness and provide sustainable travel experiences.

​The TAT Governor announced 2027 as “The Year of Transformation” for the agency. The strategy shifts focus from tourist volume to high value through four pillars: targeting high-value demographic segments, promoting year-round travel and secondary cities with experience-based marketing, developing new growth engines such as creative culture and sustainable tourism, and transforming the agency into an agile, data-driven organization.

​After internal planning, the TAT will host a Market Briefing and Tourism Clinic at the Queen Sirikit National Convention Center on July 21, 2026. This event will enable local operators to connect with overseas directors, build networks, and explore global market opportunities. The official 2027 tourism marketing direction will be announced to industry partners and the public in August 2026.

Source : Tourism Minister Outlines 2027 Action Plan to Position Thailand as a High-Value Destination

Other People are Reading