Job losses on Wall Street

Record-breaking profits at investment banks appear to be another relic of the golden age. 

Workers hired to meet roaring demand have been left twiddling their thumbs. Now they are being shown the door.

Read the full story on The Economist HERE (subscription may be required)

Musk Ultimatum to Taiwan Imperils War-Proof Internet

As Taiwan looks to bolster protection of its communication infrastructure, Elon Musk and his Starlink network are one clear solution. But, the billionaire’s deep ties with China and a demand for complete control of any Taiwan venture are proving to be problematic. Jamie Tarabay reports on Bloomberg Television.

Meta's Threads vs. Twitter: What the Copycat Means for Elon Musk’s App

WSJ reporter Salvador Rodriguez joins host Zoe Thomas to explain why Meta could be Twitter’s biggest competitor.

The Business Model Behind Buy Now, Pay Later Apps

Buy now, pay later companies like Affirm, Klarna and Afterpay boomed during the pandemic as consumers looked for an accessible alternative to credit cards. But even as their customer bases grow, these companies are struggling to turn a profit. 

PayPal, Apple and even credit card companies themselves are trying to get in on the action. 

WSJ explains how these services work, how they differ from traditional credit card payments and why some consumers have concerns.

The future of war

New technology is transforming the way wars are fought, and not just in Ukraine. 

As tension increases between China and America over Taiwan, what does the future of war look like?

How AI Is Already Reshaping White-Collar Work

Artificial intelligence doesn’t just make fantastical images. 

For white-collar workers, generative AI like ChatGPT can make jobs easier by creating drafts of documents or presentations. Initial images, video and product designs could be taken over by machine learning tech. 

In fact, one report says nearly 4,000 workers lost their jobs in May to AI. 

Dropbox cut 16% of its workforce in part to invest more in the tech, while IBM sees a future where 30% of clerical work could be taken over by AI. 

WSJ explains why AI may take some white-collar jobs – but also add new ones.

How George Soros Broke the Bank of England

In The UK, September 16, 1992, is known as Black Wednesday, the day when speculators including George Soros and Stanley Druckenmiller "broke the pound." 

This expression is used to describe the moment in time where market forces coalesced to force the British government to exit the European Exchange Rate Mechanism (ERM) by removing its currency from that agreement. 

Joining the ERM was part of Britain's effort participate in a single European Currency.