Bill Winters told investors in Hong Kong that the bank’s HR, risk and compliance functions will shrink by more than 15% over five years, with the headcount efficiency aimed at lifting income-per-employee 20% by 2028. Standard Chartered will cut more th…
The A$410bn pension fund is comparing the disruption to what retail and consumer services have already experienced. ASIC is already monitoring frontier-AI risks across the Australian financial system. AustralianSuper, the country’s largest pension fund…
Bloomberg reports early-stage takeover conversations with the Jim Keller-led AI chip startup, which raised $800m at a $3.2bn valuation last year and counts Bezos Expeditions and Samsung among its backers. Tenstorrent, the Jim Keller-led AI chip startup…
Chief People Officer Janelle Gale’s Monday memo described ‘smaller teams’ and a ‘flatter’ structure built around new AI groups for agents, apps, and infrastructure. Layoffs are due later this week. The Meta Saga continues with layoffs and “reassigning”…
The hackers exfiltrated a codebase that was already open source, then demanded payment to keep it from being released. Grafana said no, and cited the FBI’s standing advice. It is the second high-profile extortion case in seven days. Grafana Labs, the o…
Elon Musk’s AI lab promised employees a 420-dollar payment for handing over their personal tax data to train Grok ahead of the April 15 deadline. Two months on, Bloomberg reports, the money has not been paid. Elon Musk’s xAI asked its own employees ear…
Alphabet runs the most enviable AI infrastructure stack in the industry. The success of the third-party deals with Anthropic and Meta is the reason internal access has become a competitive resource. Google has spent a decade quietly building the most e…
Reuters traced $2.3bn in Iranian exchange Nobitex’s flows since 2023 to Tron and BNB Chain, the blockchains established by World Liberty Financial’s two most prominent early backers. No party at WLF has been accused of knowing about it. A Reuters inves…
L Catterton has sold its majority stake at a steep discount to the DTC era’s peak valuation. Common stockholders get nothing. The Everlane board signed on Saturday. Shein, the Chinese-founded ultra-fast-fashion giant, is acquiring Everlane, the San Fra…
The Tampa-based, Sun Capital-owned software services firm is folding the SAP- and IWG-trusted UK digital agency into its Digital Experiences practice. Deal terms were not disclosed. Exadel, the Tampa-based software-development and consulting firm, has …