Technology

Barclays cutting 5,000 jobs as it increases reliance on AI

The bank says it is using more AI leading to a 5% reduction in its workforce.

Mistral boss and Yann LeCun back Swiss robotics startup Enact in $30M pre-seed round

Swiss robotics startup Enact Intelligence has today emerged out of stealth, with a $30m pre-seed round and backing from two heavyweights from the French AI ecosystem, Mistral boss Arthur Mensch and Meta's former AI chief scientist Yann LeCun. The $30m funding is high for a pre-seed funding round...

Asian stocks tumble, bitcoin retreats as China enters bear market

Why a global bank is slashing thousands of jobs — and what the Fed says about AI replacing workers

Barclays on Thursday said it’s cutting 5,000 jobs, about 5% of its workforce, as the bank relies on artificial intelligence to perform back-office tasks.

World shares retreat as report of damage to oil takers pushes oil prices higher

World shares and U.S. futures retreated on Thursday as oil prices jumped more than 2% following a report by Iran's state television that seven oil tankers caught fire and were damaged in the Strait of Hormuz.If the report is verified, it would be the largest number of vessels damaged in the...

Saudi Arabia drone strike: Indian national among 2 killed in Dammam airport attack, 2 injured

Two people were killed and two injured in a drone strike on Aramco’s Shaybah oil field in Saudi Arabia’s Eastern Province early Wednesday, the latest attack on the kingdom’s energy facilities.

Exclusive-TSMC seeks factory-equipment alternatives to thwart China’s rare earths grip, sources say

By Wen-Yee Lee and Fanny Potkin TAIPEI/SINGAPORE, Oct 22 (Reuters) Taiwan s TSMC is exploring alternatives to rare-earth components in factory equipment, three people familiar with the matter said, aiming to reduce the risk that Beijing s export controls could disrupt operations at ​plants that...

Reduck secures $3M to make web automation faster for AI agents

French-American AI startup Reduck has raised $3 million in a pre-seed funding round led by Daphni, with participation from Drysdale Ventures and Galion.exe. The company is developing technology that enables AI agents to interact with websites and automate tasks without relying on traditional APIs....