Welcome to Bloomberg’s new Banking Industry Monitor, bringing to you the top news on the global banking industry with emerging trends, winners and losers and market opportunities. Sign up: bloom.bg/4e65HY2 From the first edition: The war for talent and coping with regulators were recurring themes this week, along with signs that the drought in deal-making is still a drag on profits. Read more: bloom.bg/3HwT1NE
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Updates
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On today’s Big Take podcast, Bloomberg’s Benedikt Kammel joins host Sarah Holder on what the crash of Boeing’s marquee 787 Dreamliner means for the company and the commercial aviation industry at large bit.ly/3FSISKD
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US Senator Alex Padilla of California was forcibly removed from a press conference and handcuffed as he tried to confront Homeland Security Secretary Kristi Noem while she briefed reporters on a federal immigration crackdown in Los Angeles https://bloom.bg/4dX6IBq
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Bloomberg News reposted this
US Senator Alex Padilla of California was forcibly removed from a press conference and handcuffed as he tried to confront Homeland Security Secretary Kristi Noem while she briefed reporters on a federal immigration crackdown in Los Angeles https://bloom.bg/4dX6IBq
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Bloomberg News reposted this
New York has quietly become the first state to ask companies to disclose when artificial intelligence plays a role in mass layoffs. The change is minor: a small checkbox added to a required WARN notice. But symbolically, it’s a big step. The update took effect in March, as part of Governor Kathy Hochul’s broader strategy for AI oversight. Companies must now indicate if “technological innovation or automation” contributed to the job cuts — and if so, name the tech, like AI or robotics. Legal experts say this kind of soft measure often paves the way for more serious regulation down the line, like requiring companies to pay to retrain workers they replace with AI. So far, no companies have blamed AI on their WARN forms. Experts caution, however, that reputational risk may lead to underreporting. New York’s measure could be a model for other states. Especially if, as some fear, the coming wave of AI disruption isn’t just hype. Link in the comments! #AI #FutureOfWork #LaborPolicy #MassLayoffs #AIlayoffs #TechRegulation
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