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AI & Enterprise
Reskilling rather than layoffs: Companies\' employment changes after AI adoption draw attention
A survey found that as AI adoption spreads, companies tend to retrain existing employees or hire workers needed to use AI rather than conduct mass layoffs. The New York Fed surveyed firms in New York and northern New Jersey. Over the past six months, 4 percent of service firms using AI said they laid off staff because of AI, while manufacturing reported no AI-related layoffs. Training and limited investment were common.
Crypto
Bitcoin hits August high overnight as focus turns to U.S. CPI and PPI this week
Bitcoin rose to an August high near $65,420 ahead of the weekly close, shifting market attention to U.S. inflation data due this week. July CPI and PPI are scheduled for release on Aug. 12 and 13, after both came in below expectations last month. Analysts pointed to shifting expectations for a Fed rate hold in September. The article also highlights yen intervention, technical resistance near $65,800, mixed on-chain signals and weak spot market activity.
Crypto
U.S., Japan coordinate to defend weak yen; five key variables that could shake bitcoin this week
Bitcoin is searching for direction around $63,000 in the first week of August as global macro conditions and crypto-specific risks pull at prices. Key factors include the possibility of coordinated U.S.-Japan action to support the yen, U.S. July nonfarm payrolls, shifts in risk sentiment linked to Middle East developments and seasonal weakness in U.S. equities. A Coldcard hardware wallet hack and related fund movements are also in focus.
