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Bloomberg

StanChart to Cut Thousands of Jobs in AI Push

Standard Chartered said it plans to eliminate thousands of support roles over the next four years, joining the ranks of global lenders using artificial intelligence to trim headcount. "It's not about cost cutting," Chief Executive Officer Bill Winters said at a press briefing in Hong Kong. "It's about having a structurally more productive environment that is fit for future." Bloomberg's Tom Metcalf reports.

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Bloomberg

Google Agrees to Create AI Cloud Firm With Blackstone

Alphabet's Google agreed to create an artificial intelligence cloud business with Blackstone, aiming to compete with companies like CoreWeave in a burgeoning market. The project will rely on an initial $5 billion in equity capital from Blackstone, which will become the majority owner, according to a statement Monday. Bloomberg's Neil Campling explains.

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Bloomberg

Global Bond Market Jitters Dominate G-7 Talks

Elevated bond yields dominated the Group of Seven meeting in Paris as finance ministers discussed how oil-fueled inflation risks overshadowing world economic prospects. The talks, which were meant to dwell on global imbalances, took place against the backdrop of US President Donald Trump's extended standoff with Iran which is keeping the Strait of Hormuz shut. Bloomberg's Oliver Crook reports.

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