Affirm wants the U.S. to find ways to cap late fees on pay-later loans.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.In an interview with the Financial Times (FT) published Tuesday (Oct. 21), Affirm co-founder/CE ...

随着人工智能（AI）对现实世界的影响逐渐显现，从科技公司到航空公司，再到大型跨国公司一直在 裁员，这让员工恐惧不已。但有专家认为，人工智能只是当前企业寻求裁员的一个借口，而真正因AI 而起的裁员浪潮尚未到来。 上个月，科技咨询公司埃森哲（Accenture）宣布了一项重组计划，其中包括让无法重新学习人工智能 的员工快速离职。几天后，汉莎航空也表示，由于人工智能提高效率，到2030年将裁减4000个工作岗 位。 Salesforce也在9月份裁掉了4000个客服职位，称人工智能可以完成公司50%的工作。同时，金融科技公 司Klarna也因积极采用人工智能工具，已裁员40%。 牛津互联网研究所（Oxford Internet Institute）人工智能助理教授Fabian Stephany警告称，企业正在将这 项技术作为"替罪羊"，为裁员等具有挑战性的业务举措承担责任。 "我真的怀疑我们目前看到的裁员是否真的是由于真正的效率提高。这实际上是对人工智能的一种预 测，'我们可以利用人工智能来制造好的借口，'"他在接受采访时说道。 Stephany认为，公司可以将自己定位在人工智能技术的前沿，以显示自己的创新和竞争力 ...

Core Insights - The earnings season has commenced, with major banks and American Express reporting strong consumer spending and credit metrics despite ongoing tariffs and inflation [1] Banking Sector - Bank stocks increased by 2.3% over the week, with J.P. Morgan reporting Q3 2025 earnings that highlighted consumer strength, showing debit and card volumes up approximately 9% year over year [6] - J.P. Morgan's net charge-offs reached $2.6 billion, with an additional $810 million in reserve builds, indicating conservative provisioning [7] - Goldman Sachs reported net revenue of $15.18 billion for Q3 2025, with CEO David Solomon emphasizing AI as a core component of the firm's strategy [8] - Citigroup's revenue was $22.1 billion, reflecting a year-over-year increase of about 9%, driven by investments in new products and digital assets [9] Payments Sector - American Express noted that Gen Z and millennials account for 36% of total card spending, with retail spending up 12% and restaurant spending increasing by 9% [10][11] - Mastercard introduced the Payment Optimization Platform (POP) to enhance approval rates for merchants, showing early tests indicating a 9% to 15% increase in conversions [12] FinTech Developments - Affirm is expanding its buy now, pay later network through partnerships with Fanatics and FreshBooks, while launching a "0% Days" campaign for interest-free holiday financing [13] - Klarna is expanding its partnership with Google to support the new Agent Payments Protocol (AP2), reflecting efforts towards intelligent commerce and automation [14]

These ten large-cap stocks were the worst performers last week. Are they a part of your portfolio?Astera Labs, Inc. (NASDAQ:ALAB) lost 23.85% this week.Nebius Group N.V. (NASDAQ:NBIS) lost 16.10% this week.Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) lost 14.56% this week. Shares of defense stocks traded lower after Treasury Secretary Bessent suggested the government may ask them to cut back on buybacks to address shortfalls in deliveries.IonQ, Inc. (NYSE:IONQ) fell 17.69% this week. Shares of qu ...

Core Viewpoint - The article discusses the trend of companies announcing layoffs attributed to the adoption of artificial intelligence (AI), suggesting that AI is being used as a scapegoat for broader business challenges and downsizing efforts [2][4][5]. Group 1: Company Layoffs - Accenture announced a restructuring plan that includes layoffs for workers unable to reskill on AI [2]. - Lufthansa plans to eliminate 4,000 jobs by 2030, citing AI as a means to increase efficiency [2]. - Salesforce laid off 4,000 customer support roles, claiming AI can perform 50% of the work [3]. - Klarna reduced its workforce by 40% as it aggressively adopts AI tools [3]. - Duolingo plans to stop relying on contractors and use AI to fill gaps in its workforce [3]. Group 2: Criticism of AI Justification - Critics argue that companies are using AI as an excuse for layoffs rather than genuine efficiency gains [4][5]. - There is skepticism about the actual impact of AI on job cuts, with suggestions that overhiring during the pandemic is a significant factor [6]. - Jean-Christophe Bouglé noted that AI adoption is slower than claimed, and many AI projects are being rolled back due to cost or security concerns [7][8]. Group 3: Employee Concerns - Employees are increasingly fearful of job losses due to AI, exacerbated by companies' lack of transparency regarding AI implementation [11]. - Jasmine Escalera emphasized the need for companies to be responsible in their communications about AI to avoid fostering fear among employees [11]. Group 4: Research Findings - A report from the Budget Lab at Yale University indicated that U.S. labor has not been significantly disrupted by AI automation since the release of ChatGPT in 2022 [14]. - Research from New York Fed economists showed that only 1% of service firms reported AI as a reason for layoffs in the past six months, down from 10% in 2024 [16][17]. - The majority of firms using AI reported it as a tool for retraining employees rather than for layoffs [17].

Core Viewpoint - The article discusses the trend of companies announcing layoffs attributed to the adoption of artificial intelligence (AI), suggesting that AI is being used as a scapegoat for broader business challenges and downsizing efforts [2][4][5]. Group 1: Company Layoffs - Accenture announced a restructuring plan that includes layoffs for workers unable to reskill on AI [2]. - Lufthansa plans to eliminate 4,000 jobs by 2030, citing AI as a means to increase efficiency [2]. - Salesforce laid off 4,000 customer support roles, claiming AI can perform 50% of the work [3]. - Klarna reduced its workforce by 40% as it aggressively adopts AI tools [3]. - Duolingo plans to stop relying on contractors and use AI to fill gaps in its workforce [3]. Group 2: Criticism of AI Justification - Critics argue that companies are using AI as an excuse for layoffs rather than genuine efficiency gains [4][5]. - There is skepticism about whether the current layoffs are truly due to AI advancements or if they are a result of overhiring during the pandemic [6]. - Jean-Christophe Bouglé noted that AI adoption is slower than claimed, with many AI projects being rolled back due to cost or security concerns [7][8]. Group 3: Employee Concerns - Employees are increasingly fearful of job losses due to AI, exacerbated by companies' lack of transparency regarding AI implementation [11]. - Jasmine Escalera emphasized the need for companies to be responsible in their communications about AI to avoid fostering fear among employees [11]. Group 4: Labor Market Impact - A report from Yale's Budget Lab indicated that U.S. labor has not been significantly disrupted by AI automation since the release of ChatGPT in 2022 [14]. - Research from New York Fed economists showed that only 1% of service firms reported AI as a reason for layoffs in the past six months, down from 10% in 2024 [16][17]. - The majority of firms using AI reported it has led to retraining employees rather than layoffs, with 35% retraining and 11% hiring more as a result [17].

So, you’re thinking about buying a Tesla this year. That’s exciting, and a little overwhelming, depending on your budget. Let’s get real for a second. Unless you’re paying outright in cash, the real question becomes how you’re going to finance it without stretching yourself too thin. The good news? There are options. A lot more than you might think. Keep reading as we look at six different ways you can pay for your new Tesla purchase (beyond using buy now, pay later). Check Out: What Does It Cost To Charg ...

It’s no secret: The holiday season means major spending, at least as far as U.S. consumers are concerned. According to Mastercard Economic Institute’s annual forecast, U.S. retail sales are expected to increase 3.6% year over year, and Retail Dive cited Deloitte data indicating growth of between 2.9% and 3.4% year over year — despite the fact that more respondents to an Experian survey indicated they would be curtailing their holiday spending this year as compared with 2024. Learn More: 6 Big Shakeups Com ...

Core Viewpoint - Concerns over credit quality in U.S. regional banks have led to a selloff in global financial stocks, reminiscent of past crises, amid heightened investor anxiety due to U.S.-China trade tensions and global economic outlook worries [1][3]. Banking Sector Concerns - The banking sector's exposure to recent U.S. auto bankruptcies has raised alarms about lending standards, echoing issues from the Silicon Valley Bank failure [2][7]. - Specific banks like Zions Bancorporation and Western Alliance have reported unexpected losses and fraud allegations, contributing to market unease [4][8]. Market Reactions - Financial stocks globally experienced declines, with major U.S. banks like Bank of America and Citigroup falling by 0.33% and 0.4% respectively, as the selloff spread from the U.S. to Asia and Europe [5][6]. - European banks saw significant drops, with Deutsche Bank and Barclays falling around 6%, while Zions Bancorp and Western Alliance showed some recovery after steep losses [6]. Credit Market Issues - Investors are assessing whether recent credit market issues will have systemic effects, with some analysts suggesting current concerns are more idiosyncratic [3][11]. - The selloff was exacerbated by Zions' announcement of a $50 million loss on loans and Western Alliance's fraud lawsuit, which followed the collapse of two U.S. companies [8][9]. Broader Financial Sector Impact - The negative sentiment has affected various financial sectors, including mortgage lenders and buy-now-pay-later firms, with notable declines in companies like Affirm and SoFi [10]. - Analysts warn that any cracks in credit markets could spill over into other financial areas, indicating a fragile market sentiment [10][11]. Market Sentiment and Trends - The market is perceived to be priced for perfection, making it vulnerable to negative headlines, as evidenced by the recent selloff [11]. - Despite the concerns, European bank shares have risen approximately 40% year-to-date, reflecting a broader trend of investment in companies benefiting from the AI boom [11].

Market Overview - Market uncertainty has increased in October due to renewed concerns over the U.S.–China trade war [1] - Lynn Martin, president of the NYSE Group, emphasized the strength of the U.S. economy and the positive fundamentals, noting that big banks reported strong earnings [2] IPO Market - Public listings on the NYSE have significantly rebounded in 2025, with a strong IPO market across all sectors [3] - The digital finance sector, including crypto exchanges and stablecoin firms, has performed particularly well, with notable IPOs such as Circle, Figma, and Klarna [3] Regulatory Environment - The SEC issued updated guidance allowing some IPOs to proceed under a 20-day effectiveness rule due to the recent government shutdown [4] - Martin noted that while many companies are choosing to stay private longer due to the costs associated with being public, she does not see significant headwinds for those pursuing IPOs [4] Reporting Changes - Martin expressed optimism about the SEC's proposal for semiannual reporting, which could ease the transition for private companies into public markets [5][6] - The NYSE has long advocated for simplified reporting requirements to reduce costs associated with being a public company [6] Corporate Leadership Changes - Christopher DelOrefice was appointed CFO of Ulta Beauty, effective Dec. 5, succeeding Paula Oyibo [7] - Lydia Brown has been appointed CFO of Citrin Cooperman, effective Oct. 13, bringing over 30 years of experience [9] - Vitor Roque has been named interim CFO at Becton, Dickinson and Company, following Chris DelOrefice's departure [10]