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Government Action is Crucial for AI Entrepreneurs Says Pelgo CEO

Artificial intelligence could reshape the jobs of nearly 80 million people across Southeast Asia, but there is little sign it has led to large-scale employment cuts, according to the International Labour Organization. The ILO urged governments to strengthen AI governance and better integrate AI policies through a human-centered approach to help workers and businesses adapt. Pelgo CEO Chieh Huang discusses how AI is impacting the labor market and how it could serve as a tool for displaced workers rather than a job eliminator.

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Bloomberg

Delta Rises on Profit Guidance; EasyJet Moves on Apollo Bid | Stock Movers

On this episode of Stock Movers: - Delta (DAL) shares are higher after it reaffirmed its full-year profit guidance, citing strong demand for premium, corporate and international travel that helped offset the highest quarterly fuel expense in its history. The airline earned an adjusted $1.56 a share in the second quarter, topping analysts' estimates, with revenue rising 14% from a year earlier and capacity increasing just 1%. - EasyJet (EZJ) shares are moving on news it received a fresh offer from Apollo Global Management for 715 pence a share, beating a rival proposal from Castlelake. EasyJet is "no longer minded to recommend the Castlelake proposal" and would be minded to recommend Apollo's bid to its shareholders, given that Apollo's £5.7 billion bid is superior to Castlelake's £5.5 billion offer. - WD-40 (WDFC) shares jumped after the lubricant spray maker boosted its net sales forecast for the full year.

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Bloomberg

Hundreds Of Labour MP's Back Andy Burnham For PM

Andy Burnham's path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader. At the end of the first day of the party's leadership contest to replace Keir Starmer, 322 of 403 Labour members of Parliament voted for Burnham. Responding to the confirmation of the vote number, Burnham said he was "deeply grateful" for the support he's received from party colleagues, saying it "reflects a shared belief that Britain needs a new approach to politics." Bloomberg Opinion's Rosa Prince joins Caroline hepker and Rachel Evans on Daybreak Europe to discuss.'

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Bloomberg

Inflation Is a Tailwind for European Stocks, Morgan Stanley Says

European equities stand to benefit from higher inflation, according to Morgan Stanley's Marina Zavolock, who says the market underestimates the region's exposure to sectors that profit from rising prices. "We have a lot of real asset exposure, we have banks exposure," Zavolock, the firm's chief European equity strategist, tells Bloomberg Television.

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