A Goldman Sachs study reveals that workers displaced by AI and technology face longer job searches and suffer average pay cuts over 3% when rehired, with earnings growth lagging by nearly 10 percentage points compared to those never laid off. These workers also experience repeated unemployment and delays in life milestones due to occupational downgrading into lower-paying roles. AI is eliminating about 16,000 net jobs monthly in the US, hitting younger, entry-level workers hardest in routine administrative roles. While some experts believe these impacts may not be permanent, the shift demands ongoing retraining as AI reshapes job types rather than fully destroying them.
Goldman Sachs reported robust Q2 FY2026 results, with net earnings growing at an annualized rate of 38%. The firm raised $31 billion in private credit and saw a 130% year-over-year surge in equity underwriting revenues, driven by major deals and IPO ...
Anthropic has launched Ode, a $1.5 billion AI implementation company formed through a joint venture with Blackstone, Hellman & Friedman, Goldman Sachs, and others. Ode builds on the acquisition of Fractional AI, focusing on deploying elite AI enginee...
The FTSE 100 dropped 23 points to 10,506, pressured by mining stocks reacting to China's slower-than-expected 4.3% GDP growth in Q2, its weakest in three years. European markets also declined, while US futures rose, led by tech. PayPal shares surged ...
Morgan Stanley will report its second-quarter earnings before the market opens on Wednesday, with analysts expecting earnings per share of $2.94 and revenue of $19.64 billion. The firm is anticipated to benefit from increased trading and investment b...
Jim Cramer stated that today's stock market is far from the dot-com bubble era, highlighting lower valuations, cooler inflation, and strong corporate earnings as key differences. Despite some speculative stocks like SpaceX, these are outliers and do ...
