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19.05.26 - 19:36
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How AI is Already Reshaping the Workforce | Open Interest 5/19/2026 (Bloomberg)
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Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." Wall Street's chipmaker trade unravels. AI reshapes workforces from Meta to Standard Chartered, while Home Depot sales miss as high borrowing costs hit consumers. Plus, JPMorgan's David De Boltz on the AI debt boom, McLaren CEO Zak Brown on racing's Triple Crown, and Williams CEO Chad Zamarin on natural gas powering the AI future.
Correction: Corrects attribution of video used in show (Source: Bloomberg)...
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19.05.26 - 16:48
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Meta′s AI Worker Shift; Home Depot Sales Fall Short | Stock Movers (Bloomberg)
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On this episode of Stock Movers with Alexis Christoforous:
- Shares of CoreWeave (CRWV) and other neo-cloud companies slump premarket after Alphabet agreed to create an artificial intelligence cloud business with Blackstone. Google agreed to create an AI cloud business with Blackstone.
- Meta (META) shares are moving as it's reassigning workers to new jobs related to artificial intelligence as part of a broad corporate restructuring. The new corporate structure will be "flatter" and mean "smaller teams", according to Chief People Officer Janelle Gale.
- Home Depot (HD) shares are moving in the premarket after sales at Home Depot locations open at least a year rose 0.6% during the three months ended May 3, slightly below the average of analysts' estimates. Home Depot's business has been hit by elevated interest rates and high housing prices, which have sparked a pullback in home purchases and upgrade projects. (Source: Bloomberg)...
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19.05.26 - 16:12
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StanChart, Meta Join AI Push With Job Cuts (Bloomberg)
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Standard Chartered plans to eliminate close to 8,000 support roles over the next four years, scaling practical uses of AI to streamline processes, and Meta Platforms is reassigning 7,000 workers to new jobs related to AI. Tom Metcalf has more on "Bloomberg Open Interest." (Source: Bloomberg)...
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19.05.26 - 15:18
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Standard Chartered To Replace "Lower-Value Human Capital" With AI As Meta Layoff D-Day Nears (ZeroHedge)
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Standard Chartered To Replace "Lower-Value Human Capital" With AI As Meta Layoff D-Day Nears
The white-collar job-loss apocalypse, accelerated by AI, is increasingly concentrated in repetitive, data-intensive, and digitally native roles, with tech firms announcing layoffs one after another.
While 'D-Day' for Meta layoffs is Wednesday morning, the London-headquartered international bank Standard Chartered announced on Tuesday plans to cut 15% of its corporate roles (or about 7800 jobs) by 2030 as part of a broader efficiency push amid the adoption of AI.
STAN also raised its profitability targets, aiming for a 15% return on tangible equity by 2028 and roughly 18% by 2030.
"Drive productivity improvements to raise income per employee by ~20 percent by 2028, aided by a reduction in corporate functions roles of >15 percent by 2030," STAN wrote in a press release.
STAN CEO Bill Winters stated in the release, "We are investing in the capabilities that will compound our com...
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19.05.26 - 13:36
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US Yields Near 2007 Highs; AI Push Fuels Job Cuts | Bloomberg Brief 5/19/2026 (Bloomberg)
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US equity futures slide and 30-year Treasury yield flirts with levels last seen in 2007. President Trump calls off scheduled strikes on Iran after Persian Gulf allies sought more time to work out a deal. Standard Chartered plans to eliminate nearly 8,000 jobs as the firm shift to AI, while Meta reassigns workers to AI roles ahead of planned job cuts. Christopher Hodge of Natixis discusses the challenges ahead for the Federal Reserve amid price pressure. (Source: Bloomberg)...
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