Corporate managements are using new euphemisms for job cuts or hiring freezes far more in the age of AI, as technology-enabled headcount reductions increasingly draw public ire and pushback from politicians, bloomberg Opinion columnist Jonathan Levin says. As a result, company leaders are leaning on vague talking points about “efficiency,” “automation” and, yes, “delayering.” (Source: Bloomberg)
Senegal selected Deloitte to audit its public debt, according to people familiar with the matter, taking a step toward meeting conditions for a proposed $2.2 billion International Monetary Fund program.
Federal Reserve Bank of Dallas President Lorie Logan called for the US central bank to separate assets purchased for market-functioning purposes from the ones it holds for monetary-policy operations. “One way to keep market functioning purchases from providing undesired stimulus would be for the FOMC to hold the purchased securities in a separate account and commit to sell them as soon as possible,” Logan said Friday at a bank funding conference co-hosted by the Dallas Fed. (Source: Bloomberg)
Ukraine continued its campaign of near daily strikes on Russian oil assets, hitting a major refinery in the Volga region on Friday after the latest round of US-mediated peace talks between the two nations ended earlier this week.
Russian diesel exports slumped at the start of November as renewed Ukrainian attacks on refineries threatened to curb fuel output, even as stronger dirty-fuel shipments lifted the country’s overall oil-product flows.
Traders are increasingly speculating Mexico’s central bank is pushing to weaken the currency whose strength threatened to weigh on exports and tourism.
Senegal’s dollar bonds fell this week as a budget standoff threatens to delay the government’s efforts to secure a $2.2 billion International Monetary Fund program.
DraftKings Inc.’s plans to pour money into prediction markets is worrying Wall Street analysts who view the lack of regulatory clarity as a key risk, spurring a flood of downgrades for the stock.
Anthropic PBC is poised to add to a blockbuster year of transactions that are orders of magnitude larger than those seen in the past decade, with the biggest initial public offering of all time joining a half dozen other jumbo equity deals.
Raw sugar futures headed for a weekly gain, capping a volatile week as traders looked for signals on the scale and timing of potential imports by India and the state of the weather in Brazil, the world’s top producer.
US wholesale inflation remained elevated in October, as the producer price index rose 6.5% from a year earlier. The PPI advanced 0.3% from a month earlier, according to Bureau of Labor Statistics data out Friday. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)
Gold smuggling from Africa to the United Arab Emirates showed little sign of slowing after the Gulf state introduced tougher sourcing rules, according to a new report by SwissAid.
US equity futures rise as investors await the latest inflation data to cap a dramatic week. Microsoft sees signs of early stabilization from a global service outage affecting Outlook, Teams, and Copilot. US Commerce Secretary Howard Lutnick comes under scrutiny amid Nvidia’s leadership crisis. Michael Purves of Tallbacken Capital joins “Bloomberg Brief” to discuss the latest bond rout and look ahead to the PPI data. (Source: Bloomberg)
US equities fell on Friday at the end of a volatile week as investors reassessed the artificial intelligence trade in the wake of turmoil at Nvidia Corp. and the outlook of Federal Reserve interest rates.
Violent clashes between security forces and protesters demanding the reopening of artisanal gold mines in northeastern Guinea killed 10 people, including five foreign nationals, the government said.
The fall of Nvidia Corp. Chief Executive Officer Jensen Huang has removed the industry’s most prominent opponent of US chip controls, setting up a showdown over potential new curbs that could accelerate China’s drive for semiconductor self-sufficiency. Huang’s exit on Thursday smooths the way for lawmakers and the US Commerce Department to choke off China’s access to computing power through smuggling and other workarounds. Those measures, if enacted, risk provoking Beijing to retaliate and shattering a fragile truce reached by Donald Trump and Xi Jinping over their cordial summits. For more, Bloomberg's Nathan Hager speaks with Gene Munster, Deepwater Asset Management managing partner and Dan Ives, Yorkville Ives founder and managing partner (Source: Bloomberg)
South Africa needs an additional $75 billion in annual investments to meet its growth objectives, the former leader of the continent’s biggest lender by assets said.
Officials in the UK Department for Energy and Net Zero are pushing to speed up a project to identify households most in need of help with energy bills.
