UK's BNPL regulations, Blackstone deal, Nippon Steel & US Steel
Yahoo Finance host Madison Mills tracks today's top moving stocks and biggest market stories in this Market Minute.
New UK regulations will require buy now, pay later lenders to check shoppers' affordability before offering loans and provide quicker refund access.
Blackstone (BX) is acquiring TXNM Energy (TXNM) for nearly $5.7 billion, marking another move in the growing energy sector.
Nippon Steel (NISTF, NPSCY) plans to invest $14 billion in US Steel (X) operations if its acquisition bid is approved.
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Yahoo
5 hours ago
- Yahoo
Aussie job warning ahead of 'huge' shift: 'Can't even imagine yet'
Australians are being warned the opportunities of artificial intelligence are 'immense' but there is no denying it will cost some jobs. It comes as the head of one of the world's biggest AI labs predicts the technology could eliminate half of all entry-level, white-collar jobs within the next five years. Niusha Shafiabady, associate professor in computational intelligence at Australian Catholic University, told Yahoo Finance the jobs of the future would be different from the types of jobs that we have now. But she said this was something we'd experienced 'throughout the history of human life'. 'I think it's important for the kids to understand that we will have much fewer entry-level jobs and new roles will emerge. We should start thinking about our careers smartly from now on and plan our career properly,' she said. RELATED Millions of Aussies warned as Hungry Jack's replaces drive-thru workers with AI Centrelink cash boost coming from July 1 for millions of Aussies Aussie teen's job paying $300 per hour without a uni degree Australia's productivity commissioner Danielle Wood said the forecast that half of entry-level white-collar jobs would be wiped out was 'pretty extraordinary' and 'out of whack with other reasonable projections' she had seen. But she said there were some elements of jobs that would be overtaken by AI. 'Often it is the more routine elements but that is freeing people up to do the uniquely human parts of jobs,' Wood told ABC's 7.30 program. 'Am I going to sit here and say, 'No jobs are going to go?' No, clearly not. There will be some impacts.' Anthropic chief executive officer Dario Amodei recently warned politicians and businesses were not prepared for the spike in unemployment rates that AI could bring. 'AI is starting to get better than humans at almost all intellectual tasks, and we're going to collectively, as a society, grapple with it,' he told CNN's Anderson Cooper. 'AI is going to get better at what everyone does, including what I do, including what other CEOs do.' Unions will be pushing to regulate AI in the workplace at the upcoming productivity summit. It wants the government to enforce a 'digital just transition' for workers impacted by AI, similar to measures for coal and gas-fired power jobs impacted by the shift to renewables. They will also be pushing to gain a greater share of productivity benefits through higher pay. The World Economic Forum's Future of Jobs Report has estimated 92 million jobs will be lost in this decade, with 170 million new jobs created. This would leave a net worth of 78 million by 2030. Bloomberg found AI could replace more than 50 per cent of the tasks performed by market research analysts and sales representatives, compared to 9 and 21 per cent for their managerial counterparts. Wood said AI offered a 'huge amount of opportunity' and there would be jobs created that 'we can't even imagine yet'. 'I think probably the major impact on labour markets we'd expect in the next decade is more people working with AI to take some bits of their job but free them up,' she said. 'From an economy-wide perspective as well, the opportunities are immense. When we look at productivity gains, gains in our living standards have come from over the long run, it is largely those new technologies.' Shafiabady said we would need specialists in automation, those with skills to work with and analyse data, along with more cybersecurity experts. 'The closer we are to making strategic decisions in the organisation and critical thinking skills, the safer our job will be,' she in retrieving data Sign in to access your portfolio Error in retrieving data
WIRED
7 hours ago
- WIRED
You can now smash burgers and fry taters on Blackstone's newest contraption.
Look, I'm no fool. I live in America. I know it's only a matter of time until literally every device gets either an air fryer or a pizza oven. The world now admits to air fryer toasters, air fryer ranges, air fryer combi ovens, and air fryer microwaves. In the past few months, I've tested both a pizza grill and a pizza air fryer. But I still didn't expect this new contraption from Blackstone. Their newest four-burner Iron Forged griddle has a fifth propane burner, which heats up a pair of air fryer baskets mounted underneath the 36-inch flat-top. The air flow comes from a loud-ish 75-watt fan you've got to plug in. The baskets are perforated stainless steel, burly, and rugged. This is an air fryer built for lovers of big trucks and big dogs and lite beer. 'Why would I ever need a propane air fryer?' I asked my editor. My editor had no answer. After a few weeks of smashburgers and fries and tacos, I still don't know why I'd need a propane-heated air fryer mounted to my griddle. But then, most dudes who drive a Hemi don't need that, either. What I do know is that I like it. Photograph: Matthew Korfhage I have made low-oil breakfast potatoes in the drawer while pancakes and bacon cook above. I've air-fried a corn cob to go with my steak, and french fries for my burger. It is perhaps a silly indulgence, at $400 more than the bare-bones Iron Forged model without the fryer drawers and cabinet doors. But like a lot of silly indulgences, it's a lot of fun. Sturdy Griddle, with Some Hot Spots First things first: Blackstone Products is the griddle company more responsible than anybody for the sudden surge of backyard fajitas and smashburgers in America. The company is unrelated to the private equity company of the same name that recently bought a majority stake in Jersey Mike's—but it's now very related to Weber grill company: The two backyard behemoths merged this spring in a marriage of griddles and grills whose shape is still unclear. Both Weber and Blackstone make backyard standup griddles (see our review of a Weber from 2023). But only Blackstone, to my knowledge, makes a rolled-steel griddle with a dual-basket air fryer underneath it. Assembly is both easy and hard. It depends on whether there are two of you. Nearly every standup griddle maker recommends you assemble with a helper: at one point or another, you'll have to turn the thing over, or line up a heavy griddle plate. But this Blackstone especially has a couple of steps that really require a spotter or holder, lest you cuss and sweat and wonder about the decisions that led you here. Buy the beer. Call the friend. The result, after tightening an ungodly number of screws, is that construction is re-assuringly sturdy, on a powder-coated black-steel frame. The dual prep trays fold down, which is a welcome touch when rolling it into or out of a shed. But unlike a Traeger or Weber, there's no system for gauging the fullness of your propane tank except kinda… hefting the tank.
Yahoo
7 hours ago
- Yahoo
Tariff impacts on consumer prices so far: Chart of the Day
Yahoo Finance host Julie Hyman joins Asking for a Trend with Josh Lipton on today's Chart of the Day to explain how tariffs have impacted specific consumer price categories so far, despite overall inflation showing signs of cooling. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Well, indeed those tariffs do not seem to be having an upward effect on headline inflation yet. And those are two important caveats because there are certain categories where we are seeing upward pressure on prices. It's just not averaging out to the overall number, which we saw just rise a tenth of 1% month over month, and 2.4% year over year. That's the headline number. So there were categories where we were seeing increases. Appliances, for example, rose more than 4%. Then there were some random collection of things, and here, peanut butter, bananas saw increases because of tariffs, at least in part. You saw canned fruits and vegetables on the same front. Roasted coffee, we have definitely seen that raw coffee prices, commodity coffee prices have been going up, toys going up to some extent here. But then there were also a number of categories where we saw decline. In cars, for example, there was a small decline, jewelry and watches, smartphones, gasoline, as we know, and airline fares, for sure, because we've seen a drop in demand for air travel, particularly international, and that has had a bit caused a bit of pressure here. But when we try to dig into why we are not seeing more of these categories see these types of increases, economists come up with a couple of reasons why. And for example, we talked to Ryan Wang of HSBC earlier in the day, and he said, you know, it's probably easier right now, because consumers have absorbed so many cost increases already, that businesses can pass on some cost increases to other businesses. It's tougher to do when it comes to consumers. He theorized that perhaps if there are shortages eventually in some goods, then you could see more upward pressure, or more broad upward pressure on goods prices. Um, he says on the flip side, however, if at the same time the labor market is cooling, then consumers won't be as able to absorb those price increases. So, some of these dynamics are some of the reasons why. Another reason why could be that ahead of the tariff imposition, we saw, of course, a huge surge in imports. A lot of companies trying to get ahead of the tariffs, and so they might not yet be raising prices because they are star they are still working off that inventory. So, pretty split here between the increase the number of categories increasing and decreasing, and again, a lot of different potential reasons why we could still see the tariffs make their way into more categories as time goes on, Josh. All right. Thank you, Julie. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
