Core Insights - The rapid adoption of artificial intelligence (AI) is leading to significant job losses in various industries, with Goldman Sachs estimating that AI was responsible for 5,000 to 10,000 monthly net job losses in the most affected U.S. sectors last year [1] - AI accounted for 7% of total planned layoffs in January, indicating a growing trend of companies restructuring their workforce in response to automation [1] Company Layoffs Linked to AI - AGORA plans to lay off up to 166 employees, or 6.56% of its workforce, to improve its digital business [2] - ALLIANZ intends to cut up to 1,800 jobs in its travel insurance division due to AI replacing manual processes [3] - AMAZON confirmed 16,000 corporate job cuts as part of an AI and efficiency-driven overhaul [3] - AUTODESK will reduce about 1,000 jobs, approximately 7% of its global workforce, to focus on cloud and AI initiatives [4] - BRITISH AMERICAN TOBACCO announced an AI-driven productivity program that will lead to unspecified job cuts [4] - DOW plans to cut about 4,500 jobs, which is 13% of its total workforce, by streamlining processes through automation and AI [5] - HP INC expects to cut 4,000 to 6,000 jobs globally by fiscal 2028 as it adopts AI [5] - MERCADOLIBRE laid off 119 employees as part of its AI expansion [6] - META is cutting over 1,000 jobs at its Reality Labs unit and around 600 positions in its Superintelligence Labs to pivot towards AI devices [6] - NIKE is laying off 775 employees to enhance profits and increase automation [7] - PINTEREST plans to cut up to 15% of its workforce to focus on AI roles and strategy [7] - SEB announced a restructuring plan that may impact up to 2,100 jobs worldwide by 2027 due to AI [8] - TELSTRA plans to cut 650 jobs in an AI-driven restructure [9] - WISETECH will reduce about 2,000 jobs, nearly one-third of its global workforce, as it integrates AI into its operations [9]

Core Viewpoint - BBVA has joined a consortium of 11 European banks to create Qivalis, a joint venture aimed at issuing a euro-linked stablecoin to facilitate faster and lower-cost payments and digital asset settlements within a regulated framework [1][2]. Group 1: Joint Venture and Regulatory Framework - Qivalis is established as an Amsterdam-based company and will operate under the EU's Markets in Crypto-Assets framework (MiCA), ensuring compliance with solvency, governance, and customer protection requirements [2]. - The venture is currently awaiting authorization from the Dutch central bank to function as an electronic money institution [4]. Group 2: Collaboration and Innovation - BBVA emphasizes the importance of collaboration among banks to create common standards that foster financial innovation and enhance the future banking model [3]. - The addition of BBVA to the consortium is seen as a significant advancement, bringing the total number of participating banks to twelve, all committed to developing a secure euro stablecoin framework [3]. Group 3: Use Cases and Benefits - A potential use case highlighted by the consortium involves enabling self-employed professionals to make quicker and cheaper payments to overseas suppliers through a euro-linked method integrated into their existing banking services [5]. - The shared stablecoin aims to provide new payment options and facilitate the settlement of tokenized financial assets on blockchain technology [4]. Group 4: BBVA's Commitment to Digital Assets - BBVA's involvement in Qivalis is part of its ongoing efforts to explore digital assets, building on previous initiatives such as a collaboration with SWIFT on a blockchain-based shared registry and participation in the Agorá initiative for improving cross-border payments [6].

（原标题：逼近160关口，日央行"温和鹰派"难救日元颓势） Amundi Japan股票投资主管Hiromi Ishihara也持有类似观点，他表示，"市场实际上在暗示，相对于当前 的通胀水平，目前的利率可能过低。短期内，我们预计日元可能会进一步走弱，但我们也预计政府可能 会进行干预。因此，我不认为日元会出现无序抛售，但短期内我也不看好日元升值。" 野村证券外汇策略师 Yujiro Goto也对日元持谨慎态度，他表示"日本央行的货币政策会议传达的信息， 旨在发出对 4 月加息已有认知的信号。在此次会议之前，市场已充分消化了截至 7 月的加息预期。" SEB 亚洲策略主管 Eugenia Fabon Victorino表示，"经济预测比去年 10 月提交的更乐观。日本央行还删 除了'贸易影响带来的高度不确定性'等表述。这加强了我们关于日本央行在 2026 年继续收紧政策的观 点。目前，我们预计下一次加息将发生在 7 月。从历史经验看，植田和男未能提供足够鹰派的指引来满 足市场。只要财政忧虑仍占主导地位，植田就不太可能阻止美元兑日元的买盘累积。" 寻找"止跌"曙光 智通财经APP获悉，策略师表示，在日本央行如预期 ...

日本央行维持利率不变后，日元延续跌势，策略师们普遍认为央行释放的鹰派信号力度不足以扭转日元疲软态势。市场焦点已转向4月可能的加息 行动，但在美联储会议前，投资者对日元的观望情绪浓厚。 1月23日，日本央行如期维持基准利率在三十年高位不变，决议公布后日元对美元一度跌0.2%至158.74。央行正在评估上月加息对经济的影响。 决议略显鹰派，日元仍承压 日本央行此次维持利率不变符合市场预期，但决议声明的细节变化引发策略师们对政策走向的解读。 汇丰控股首席亚洲经济学家Frederic Neumann表示，日央行上调通胀预测暗示官员立场的鹰派倾斜。通过提高通胀预期，货币政策官员表达了对物 价前景的更大信心，这反过来应会强化进一步加息的理由。他指出，日本债券市场和汇率将受益于更强的货币政策锚定，日央行的鹰派倾斜将大 大有助于遏制波动性。 野村证券外汇策略师Yujiro Goto认为，日央行货币政策会议的沟通方式意在传递对4月加息的意识。在此次会议前，市场已完全消化了7月前的加 息预期。尽管决议显示鹰派，但在新闻发布会前，日元贬值压力仍在酝酿。 Minato Bank策略师Shogo Karitani指出，声明中增加了汇率 ...

Core Viewpoint - Ningbo Jiayin Electromechanical Technology Co., Ltd. (hereinafter referred to as "Jiayin Technology") is initiating an IPO process to list on the Beijing Stock Exchange, with guidance from GF Securities. The company specializes in the research, manufacturing, and sales of core components for fluid control systems, applicable in various industries such as smart home appliances, automotive, medical, and new energy [1][4]. Company Overview - Jiayin Technology was established on December 12, 2001, with a registered capital of RMB 415 million. The legal representative is Lu Dingyao, who holds a 53.98% stake in the company [1]. - The company is classified under the manufacturing industry, specifically in the production of specialized components for household electric appliances [1]. Business Performance - In 2024, Jiayin Technology reported an operating income of RMB 808 million, representing a year-on-year increase of 51.16%. The net profit attributable to shareholders was RMB 60.94 million, up 23.64% compared to the previous year [3][4]. - For the first half of 2025, the company achieved an operating income of RMB 48.7 million, reflecting a year-on-year growth of 46.93%. However, the net profit attributable to shareholders decreased by 9.23% to RMB 29.53 million [4]. Shareholding Structure - Lu Dingyao directly holds 22.4 million shares (53.98%), while Chen Zhibo holds 10.88 million shares (26.22%). Together, they control 87.03% of the voting rights in the company [4]. - Lu Dingyao serves as the Chairman and General Manager, while Chen Zhibo is the Assistant General Manager [4][5].

美国司法部对美联储主席杰罗姆·鲍威尔发起刑事调查一事持续发酵，调查聚焦其对美联储总部翻新工程的处理及相关国会证词。 此举被鲍威尔直指为因降息节奏未达总统特朗普预期而发起的恐吓与报复。周一，该事件引发美国国会议员、华尔街投资机构及美联储和财政部前官员的 广泛关注与强烈反应，美联储独立性问题成为各方争议核心。 美国国会议员：共和党普遍反对调查 少数持观望态度 值得注意的是，鲍威尔的美联储主席任期将持续到今年5月，但他作为美联储理事的任期要到2028年才结束，这为事件后续发展增添了变数。 华尔街：警惕市场不稳定风险 担忧长期利率与美元地位受冲击 从市场表现来看，周一美债收益率虽走高但远低于早盘恐慌性高点，10年期收益率微涨1个基点；美债10年期拍卖获得稳健需求，中标收益率略低于投标 时的市场水平。期货市场显示，交易员仍预计今年仅降息两次，每次25个基点，与上周末预期一致，表明政府施压短期内不太可能影响美联储近期利率决 策。市场暂时保持韧性，但投资机构均强调风险犹存。 华尔街各大投资机构普遍认为，特朗普政府对鲍威尔的刑事调查可能引发市场不稳定，中长期将带来多重风险，尽管短期市场反应相对克制。 管理约9000亿美元资产 ...

北欧市场料将基本平开，IG预测OMXS30指数将在2,902点左右持平。SEB宏观策略师Gustav Helgesson 指出，在美国总统特朗普表示委内瑞拉将向美国炼油厂"移交"3,000万-5,000万桶石油后，今晨油价跌至 略低于每桶60美元。不过，他表示，如今委内瑞拉的产量和出口在全球消费中仅占极小部分，该国要实 现有意义的产量增长还需要相当长的时间。美国股市周二收高，股指期货预示大西洋两岸市场将高开。 ...

Core Insights - Stablecoins have made significant progress in 2025, transitioning from being primarily held as reserves to being actively used for transactions, with a market capitalization exceeding $300 billion [3][5] - Major banks, card networks, and FinTechs have launched and integrated stablecoin payment and settlement products, driven by clearer regulatory frameworks [1][6] Market Trends - Stablecoin transaction volumes reached $27 trillion annually, although they still represent less than 1% of global daily money transfers [4] - The circulation of stablecoins doubled over the previous 18 months, indicating a shift towards more mainstream use cases [4] Regulatory Developments - The GENIUS Act established a federal framework for payment stablecoins in the U.S., clarifying reserve requirements and issuer oversight [6] - This regulatory clarity has encouraged major financial institutions to engage with stablecoins, leading to various partnerships and initiatives [5][6] Industry Initiatives - Visa and Bridge launched a card-issuing product allowing stablecoin use at any merchant accepting Visa, while Visa also expanded its stablecoin settlement capabilities [7][8] - Mastercard joined Paxos' Global Dollar Network to enable multiple stablecoins across its network [9] Corporate Engagement - Companies like SoFi, Coinbase, and PayPal have introduced stablecoin products aimed at various sectors, including enterprise solutions and AI-native businesses [10] - Major banks, including JPMorgan Chase and Bank of America, are exploring the launch of a jointly operated stablecoin [11][12] Use Cases - Stablecoins have found a mature use case in cross-border B2B payments and corporate treasury operations, allowing businesses to settle invoices and manage payroll more efficiently [15][17] - Dollar-denominated stablecoins are increasingly used in emerging markets as a hedge against currency volatility [17] Challenges - Despite advancements, consumer adoption of stablecoins remains uneven, particularly in developed markets where existing systems are effective [18] - Issues such as interoperability, transparency, and reliance on a small number of issuers pose ongoing challenges for the stablecoin industry [19]

SEB Q4 2025 Pre-Close Call Summary Company Overview - **Company**: SEB (OTCPK:SVKE.F) - **Date of Call**: December 17, 2025 - **Speaker**: Paul Wyszyski, Head of Investor Relations Key Points Macro Environment - Average three-month STIBOR is lower in Q4 compared to Q3, with the Swedish central bank lowering the policy rate by 25 basis points effective October 1st [1] - SEB adjusted some lending and deposit rates in Sweden following the rate cuts [1] - The European Central Bank kept the deposit facility rate unchanged, affecting Baltic operations primarily on the deposit side [2] Interest Rate Sensitivity - SEB's equity is approximately SEK 220 billion, with private and corporate transaction accounts and savings accounts totaling around SEK 370 billion, and Baltic transaction accounts around SEK 200 billion, leading to a total of roughly SEK 800 billion sensitive to rate changes [2] - Net interest income (NII) is expected to bottom out three to six months after the last rate cut, influenced by balance sheet dynamics [3] Profit and Loss Overview - The P&L and balance sheet are impacted by FX movements; a stronger SEK results in lower income and costs, while a weaker SEK has the opposite effect [4] - The SEK strengthened marginally against the euro compared to Q3, resulting in a smaller headwind on the P&L [4] - NII increased slightly despite downward trending interest rates due to higher day count, positive FX effects, lower deposit insurance fees, and reduced short-term funding costs [6] Division Performance - Business and retail banking NII declined by around SEK 100 million compared to the previous quarter due to lower interest rates on deposit margins [6] - Baltic division's NII remained largely unchanged as lower rates were offset by higher lending and deposit volumes [6] - Treasury NII benefited from favorable yield curve and funding conditions [7] Net Fee and Commission Income - A significant portion of net fee and commission income is linked to assets under management, which correlates with stock market performance [7] - Advisory and securities-related fees were seasonally softer in Q3, with no larger transactions reported in Q4 [8] Expenses and Credit Losses - Total expenses target for 2025 is SEK 33 billion, with potential for acceleration in cost implementation programs [9] - Net expected credit losses reported at three basis points, with an additional SEK 100 million in portfolio overlays [10] Capital and Risk Exposure - Current share buyback program amounts to SEK 2.5 billion, expected to conclude by January 27, 2026 [10] - CET1 capital ratio is affected by share buybacks, with a dividend payout ratio target of around 50% [11] - Remaining impact from the risk exposure amount (REA) increase in the Baltics is around 70 basis points, expected to phase in over the next three quarters [12] Additional Notes - The call concluded with a reminder of the silent period starting January 1, with the Q4 2025 interim report scheduled for publication on January 29, 2026 [13] Conclusion - SEB is navigating a challenging macro environment with interest rate adjustments and FX movements impacting its financial performance. The bank is focused on managing its capital effectively while preparing for upcoming financial disclosures.

The European Central Bank has identified significant deficiencies in risk models of top Swedish lenders SEB and Swedbank for their operations in Baltic countries https://t.co/GcGhgfYSbR ...