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Apollo’s Marc Rowan says to expect ‘blue-collar ascendancy’ and ‘white-collar stress’ in the age of AI

Wide pants, a Middle Eastern oil crisis, and pesky inflation. It almost feels like the 1970s, but don’t expect this decade’s labor crisis to hit Americans who work with their hands. Loading audio narration… Instead, the AI-revolution labor squeeze will come for office workers, Marc Rowan, the CEO of private markets giant Apollo, said.”This will be very, very far-reaching, almost every job will be enhanced or replaced,” Rowan said, noting this was “certainly” the biggest…

Finance news

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The ‘millennial daughter tax’ is terrifying

Our story about millennial daughters paying the price to take care of aging parents really struck a nerve. Loading audio narration… As a millennial daughter myself, I was interested: A mix of actual costs, lost wages, and missed retirement contributions can cost daughters caring for their parents nearly $300,000.This was…

Business

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PayPal weighs up to 20% job cuts as profit falls, outlook weakens

PayPal is reportedly weighing cuts of up to 20% of its workforce as the payments giant ramps up cost-cutting efforts under new leadership. The potential layoffs come as PayPal faces mounting pressure on profitability despite continued revenue growth.FOX Business reached out to PayPal for comment. Bloomberg and The Wall Street…

Markets

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Disney CEO Josh D’Amaro outlines AI and content strategy in growth plan

New Disney CEO Josh D’Amaro outlined a new growth strategy for the entertainment giant as the company announced its quarterly results, which includes a focus on investing in content as well as technology. D’Amaro, who succeeded former Disney CEO Bob Iger in mid-March, said in a letter to shareholders that…

Investing

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