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Mnuchin Talks Semiannual Reporting, AI and Fed Rates

Steven Mnuchin, founder of Liberty Strategic Capital and former US Treasury Secretary, says he supports the proposal released by the Securities and Exchange Commission that will allow US companies to choose to report earnings semiannually. Speaking at the Milken Institute Global Conference in Beverly Hills, California, Mnuchin also comments on the economic impact of AI, the conflict in Iran, the federal budget deficit and Federal Reserve monetary policy.

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Bloomberg

PayPal Plans to Cut 20% of Workforce as CEO Seeks to Revamp

PayPal Holdings Inc. plans to cut around 20% of its workforce in the next two to three years, according to a person familiar with the matter, as new Chief Executive Officer Enrique Lores seeks to reduce costs and turn around the payments company. PayPal employed around 23,800 people at the end of the year, meaning a workforce reduction of that size could eliminate more than 4,500 jobs. It's part of the company's plan to realize at least $1.5 billion in savings over the next two to three years, according to a statement Tuesday.  Bloomberg's Diksha Gera joins Bloomberg Intelligence to discuss.

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Bloomberg

Coinbase to Cut 14% of Staff, Citing Volatile Markets and AI

Crypto exchange Coinbase Global Inc. will cut around 14% of its workforce, citing a need to manage costs in volatile markets and technological advances in artificial intelligence. Around 700 employees will be affected by the changes, with cuts expected to happen mostly in the second quarter, and the company expects to incur as much as $60 million in restructuring expenses. Bloomberg's Paul Gulberg joins Bloomberg Intelligence to discuss.

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Bloomberg

EQT CEO: Scale Wins in AI Era

EQT's CEO Per Franzen joins Dani Burger at the Milken Conference to break down how AI is reshaping private markets. He reveals why scale is now essential, how EQT is investing in AI infrastructure, and why the future belongs to firms that can balance internal expertise with external partnerships.

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