Money, Wealth & Power—A Daily Look at the Financial World
JPMorgan Chase CEO Jamie Dimon has warned that artificial intelligence is already eliminating some jobs at the bank while triggering what amounts to a massive internal reshuffling of its workforce. The comments, delivered across recent public appearances, frame AI not as a distant threat but as an active force changing how the largest U.S. bank…
Goldman Sachs economists have flagged artificial intelligence-driven job displacement as a growing threat to the U.S. labor market, warning that accelerating automation could push unemployment meaningfully higher through 2026. The caution arrives as the official jobless rate already sits at its highest level in months, with 7.4 million Americans out of work as of January…
GE Aerospace and Palantir Technologies have reportedly entered discussions around an artificial intelligence partnership targeting jet engine design and maintenance, a deal that would extend Palantir’s growing footprint across the U.S. aerospace and defense sector. While neither company has issued an official press release confirming the arrangement, the reported collaboration follows a pattern of major…
Bitcoin miners are staring down a profitability squeeze after a punishing stretch that pushed expected revenue per unit of computing power to a record low. Data from Luxor’s Hashrate Index shows that the average USD hashprice in December 2025 fell to $37.89 per petahash per second per day, a new all-time low for the metric….
Tesla avoided a 30-day suspension of its California dealer and manufacturer licenses this week after agreeing to stop using the term “Autopilot” in its marketing across the state. The resolution caps a years-long enforcement battle between the electric vehicle maker and the California Department of Motor Vehicles, which found that Tesla’s advertising of its driver-assistance…
Seven technology and services firms are sharply increasing their hiring of entry-level engineers, offering new graduates and early-career workers a rare burst of opportunity at a time when AI-driven automation has clouded the outlook for junior coding roles. The companies, LinkedIn, IBM, Cognizant, Dropbox, Cloudflare, ThreatLocker, and Invisible Technologies, are each expanding internship programs or…
Apple is doubling its Houston manufacturing campus to 500,000 square feet, adding Mac mini assembly lines and a 20,000-square-foot advanced manufacturing training center that will open later in 2026. The expansion builds on a 250,000-square-foot facility already under construction in the Houston area, and it extends Apple’s broader push to expand U.S.-based manufacturing and supplier…
Apple says it will begin producing Mac mini computers in Houston later this year, marking the first time the compact desktop line will be assembled in the United States. The announcement also covers an expansion of server manufacturing at the same site, and comes as Reuters pointed to renewed tariff uncertainty, including a new 10%…
A wave of new import tariffs that took effect in spring 2025 has driven sharp retail price increases on groceries, vehicles, and clothing, hitting American household budgets across three of the most common spending categories at once. The cost shock traces directly to executive actions imposing broad ad valorem duties on imported goods, with some…
Federal prosecutors have charged 11 defendants in what the Department of Justice calls the largest health care fraud case by loss amount in its history, alleging a Russia-based criminal network used Texas-based durable medical equipment suppliers to submit $10.6 billion in fraudulent Medicare claims. The scheme, dubbed Operation Gold Rush, relied on stolen identities from…