Tariff Pain Is Contagious
This week we're looking ahead to IMF-World Bank week. Plus, US startup funding is retreating back to the coasts, AI bosses are joining the Zoom meeting, and box office sales are getting harder to predict.
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Axios
2 hours ago
- Axios
Companies embrace in-person interviews to dodge the chatbots
If you're a knowledge worker on the job hunt, you might want to upgrade your interview wardrobe to include pants. Why it matters: Companies are bringing back in-person interviews after years of virtual hiring since the pandemic. That's because artificial intelligence — which is upending the labor market — also makes it easier for candidates to cheat. During a technical interview on Zoom, where interviewees might previously have done a quick Google search, they now have access to sophisticated chatbots that can feed them answers off camera. In-person interviews also eliminate concerns over AI-enabled scammers impersonating workplaces or applicants. Driving the news: Google, Cisco and McKinsey have brought back face-to-face interviews during some part of recruiting and hiring, the Wall Street Journal reported. Recruitment firm Coda Search/Staffing in Dallas estimated that in-person interview requests among its clients have increased from 5% last year to 30% this year, the WSJ reported. What they're saying: "We are making sure we'll introduce at least one round of in-person interviews for people, just to make sure the fundamentals are there," Google CEO Sundar Pichai said in June on Lex Fridman's podcast. The intrigue: AI plays a growing role in the job application process for both prospective employees and employers. Applicants are using AI to fine-tune resumes and write cover letters, while recruiters use AI tools to filter through candidates. In some cases, the interviewer is AI-generated. Our thought bubble, from Axios' Megan Morrone: There's been a steady bot arms race between job seekers and hiring managers.
Yahoo
9 hours ago
- Yahoo
Ignite Power partners World Bank to advance electrification in Mozambique
Pan-African distributed infrastructure firm Ignite Power has partnered the World Bank's $270m Pro Energia+ Program to accelerate energy access in Mozambique. The partnership with the World Bank, Bamboo Capital Partners and FUNAE will see Ignite Power utilise results-based financing (RBF) mechanisms to extend its services to some of the most remote and underserved communities in the country. Bamboo Capital Partners is serving as the programme's facility manager, and FUNAE is the implementing organisation. The Pro Energia+ Program aims to enhance electricity access by fostering private sector involvement. It serves as a key element of the World Bank's dedication to achieving universal electrification, aligning with its broader Mission 300 objective of connecting 300 million people in Africa by 2030. Ignite Mozambique managing director Arthur Houston stated: 'This partnership is not only a powerful endorsement of our operational model and technological edge, but also a major acceleration of our vision to connect millions more Mozambicans with clean and affordable electricity.' Ignite Power's involvement in the Pro Energia+ Program is rooted in years of demonstrated success in implementing RBF frameworks throughout Africa. Ignite Power has consistently exceeded sector benchmarks since the BRILHO programme's inception in Mozambique — funded by UK Aid Direct and implemented by SNV. This success has paved the way for extensive collaborations with major organisations such as the World Bank and the Beyond the Grid Fund for Africa (BGFA). In June 2025, the World Bank Group joined forces with the International Atomic Energy Agency (IAEA) to promote the safe and responsible use of nuclear power in developing countries. This partnership highlights a new strategy by the World Bank aimed at electrification, emphasising a balance between accessibility, affordability, reliability and emissions management. "Ignite Power partners World Bank to advance electrification in Mozambique" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CNBC
16 hours ago
- CNBC
CNBC Daily Open: Markets appear to be unfazed by Trump U-turns
The heaviest of U.S. President Donald Trump's "reciprocal" tariffs — a full 145% on imports of Chinese goods — was, once again, delayed for another 90 days. The move should be a huge relief not just to investors, but perhaps most of the population on Earth. The U.S. and China are the two largest economies in the world, according to World Bank data, and a trade war in which imports of each other's goods double in price would probably stymie, if not cripple, the global economy. But markets were mostly unmoved. Well, they did move — lower. The three big U.S. stock indexes retreated Monday as this outcome was more or less expected, since both sides had earlier telegraphed an extension of the tariff pause. Investors could have also been conditioned to expect flip-flopping from Trump, such that threats, promises, criticisms and praises don't carry as much heft as they should anymore. On Monday, Trump said Intel's CEO Lip-Bu Tan's "success and rise is an amazing story," after describing Tan as "highly CONFLICTED" the week before. There's a Freudian idea in which an individual projects their thoughts and feelings to another person. Researchers are, well, conflicted, on the veracity of the phenomenon, but empirical observation suggests it's not uncommon. Trump extends pause on China tariffs. U.S. tariffs on China were delayed for 90 days, Trump said on Truth Social. It was the expected outcome from the latest round of talks between the two countries. Elon Musk threatens legal action against Apple. Musk alleged that Apple is engaging in antitrust violations by making it "impossible for any AI company besides OpenAI to reach #1 in the App Store." Musk is the founder of xAI, which is behind the Grok AI chatbot. Intel CEO is a "success," Trump says. The U.S. president's praise of Lip-Bu Tan is a reversal in tone from his previous week's message, in which Trump said Tan "must resign, immediately." U.S. stocks end Monday lower. Major stock indexes fell as traders awaited inflation data. Japan's Nikkei 225 and Australia's S&P/ASX 200 touched record highs Tuesday, with the latter boosted by the Reserve Bank of Australia's rate cut. [PRO] Europe's defense sector could receive another leg up. According to Ben Heelan, Bank of America's head of EU industrials research, one corner of the investing world, previously reluctant to turn to defense stocks, might be changing its mind. Spain treads a risky path by standing up to Trump on defense and China The Spanish government recently renounced U.S. aircraft purchases and resisted intense pressure to commit to NATO's new 5% defense spending target, while seeking closer economic ties with China. Taken together, analysts say Spain has become a rare example of a European country willing to draw the ire of U.S. President Donald Trump. Notably, despite Trump threatening a tough trade deal for Spain, the European country has not faced any material consequences.
