Global banking giant HSBC Holdings Plc is considering significant job reductions in the years ahead, as CEO Georges Elhedery bets on artificial intelligence to downsize middle and back offices, Bloomberg reported.

The greatest impact is anticipated to be seen among non-client-facing positions in global service centers, but the evaluation is only in an early stage, according to individuals familiar with the issue, the outlet reported. The moves could impact about 20,000 roles, or around 10% of the organization’s full workforce, one of the individuals reportedly said.

The deliberations began prior to the eruption of war in the Middle East, and a final decision has not been made, some of the individuals said, according to the report.

META EYES MASSIVE 20% WORKFORCE CUT AS AI INFRASTRUCTURE COSTS CONTINUE TO SOAR ACROSS OPERATIONS: REPORT

Georges Elhedery, chief executive officer of HSBC Holdings Plc, in Hong Kong, China, on Thursday, Oct. 9, 2025.  (Paul Yeung/Bloomberg via Getty Images / Getty Images)

The assessment includes positions where the company will not replace workers, some of the individuals noted, but no final decision has been determined. 

Some downsizing may occur due to business sales or exits, according to one of the sources, Bloomberg reported.

The company’s job reductions would occur as part of a medium-term plan covering three to five years, one of the individuals familiar with the matter said, the outlet noted.

GOOGLE COMMITS $1B TO NORTH CAROLINA DATA CENTERS AS AI DEMAND SURGES

Illuminated HSBC bank sign above an automated teller machine, San Francisco, California, May 20, 2025.  (Smith Collection/Gado/Getty Images / Getty Images)

HSBC declined to provide Fox News Digital with a comment about the Bloomberg report.

But HSBC, which indicates on its website that it “is one of the world’s largest banking and financial services organisations,” has been open about embracing AI.

WHITE HOUSE UNVEILS ITS FIRST NATIONAL AI FRAMEWORK, PUSHES CONGRESS TO ACT ‘THIS YEAR’

The HSBC logo outside a branch of the bank on Jan. 24, 2017, in Bristol, England. (Matt Cardy/Getty Images / Getty Images)

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“In 2025, we accelerated the adoption of Generative AI (‘GenAI’) across HSBC, moving from experimentation to scaled delivery,” the company’s Annual Report and Accounts 2025 noted. “Through 2026, we intend to expand enterprise-wide adoption of AI tools and strive to embed AI deeper into our core processes.”

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As smartphone buyers weigh the latest flagships, the Samsung Galaxy S26 Ultra and Apple iPhone 17 Pro Max stand out for their advanced AI capabilities. Released in February 2026 and September 2025 respectively, both devices position artificial intelligence as a core selling point, but they take markedly different approaches.

Samsung’s third-generation Galaxy AI emphasizes proactive, contextual assistance and seamless integration across tasks, while Apple’s Apple Intelligence prioritizes on-device privacy, system-wide enhancements and gradual rollouts. Early reviews and head-to-head comparisons from outlets like Tom’s Guide, PhoneArena and YouTube creators suggest Samsung currently holds the edge in AI depth and usefulness, though Apple excels in privacy-focused execution.

The Galaxy S26 Ultra, unveiled at Galaxy Unpacked in late February 2026, runs on a customized Snapdragon 8 Elite Gen 5 chipset with a 39% NPU boost for always-on AI. Key features include Now Nudge, an agentic tool that analyzes screen context — such as incoming messages about plans — and surfaces suggestions like calendar checks or direct Gallery access without app switching. Now Brief delivers personalized daily summaries, while Call Screening uses AI to handle unknown calls with transcription and spam filtering.

Photo editing shines with Photo Assist, allowing natural language prompts to add, remove or modify elements in images. Creative Studio generates visuals, and enhanced Bixby integrates with Gemini and Perplexity for broader queries. Additional tools cover Live Translate for calls, Writing Assist for tone adjustments and Audio Eraser for video sound cleanup. Samsung touts these as “intuitive” and background-operated, reducing user effort while supporting multitasking without lag.

Privacy remains a focus via the world’s first built-in Privacy Display, which limits viewing angles to prevent shoulder surfing, alongside Knox Vault security and user-controlled AI toggles for on-device or cloud processing.

In contrast, the iPhone 17 Pro Max, powered by the A19 Pro chip with expanded Neural Engine capabilities and 12GB RAM on Pro models, runs Apple Intelligence on iOS 26. Features include Writing Tools for rewriting, proofreading and summarizing text across apps; Image Playground and Genmoji for custom emoji and image creation; smarter Siri with better context awareness; and Live Translation in Messages, FaceTime and Phone.

Visual intelligence lets users query on-screen content, while notification summaries and Clean Up in Photos remove distractions. Apple stresses on-device processing for privacy, with Private Cloud Compute for heavier tasks. Recent updates added Live Translation and visual enhancements, but core promises like a fully revamped Siri remain in progress, with some users reporting Gemini integration via partnerships for boosted capabilities.

Comparisons highlight Samsung’s lead in practical, everyday utility. Tom’s Guide notes the Galaxy S26 Ultra “runs circles around” the iPhone 17 Pro Max in AI, citing Now Nudge as more proactive than Apple’s offerings. YouTube breakdowns praise Galaxy AI’s photo editing superiority and agentic features, while calling Apple Intelligence “still terrible” or “behind” in assistant responsiveness. Samsung’s multimodal integration — combining Bixby, Gemini and on-device tools — provides more options, though Apple’s ecosystem lock-in delivers smoother cross-app experiences for iOS users.

Privacy and security differ sharply. Apple’s on-device-first philosophy minimizes data sharing, appealing to those wary of cloud reliance. Samsung counters with hardware like Privacy Display and granular controls, but some features lean on cloud processing for peak performance.

Battery and thermal management support sustained AI use. The Galaxy S26 Ultra’s redesigned vapor chamber handles intensive tasks without throttling, while the iPhone 17 Pro Max’s improved cooling (including vapor chamber on Max models) sustains performance during AI-heavy workloads.

User feedback varies by ecosystem. Android enthusiasts appreciate Galaxy AI’s flexibility and rapid iteration — Samsung promises seven years of updates — while iPhone loyalists value Apple’s polished, privacy-centric integration. Both platforms continue evolving; Apple plans more Apple Intelligence expansions, potentially closing the gap.

Ultimately, the Galaxy S26 Ultra edges ahead for AI feature richness and proactive assistance in 2026. Its agentic tools, superior photo AI and contextual nudges make daily tasks feel more effortless for power users. The iPhone 17 Pro Max counters with elegant, secure implementation ideal for those in the Apple ecosystem, but lags in breadth and immediacy.

As AI becomes central to smartphones, the choice hinges on priorities: Samsung’s bold, feature-packed approach or Apple’s measured, privacy-first strategy. For now, if raw AI capability drives the decision, the Galaxy S26 Ultra stands as the stronger contender.

Electrolux Group is recalling more than 174,000 Frigidaire gas ranges due to an oven-related issue that poses a burn hazard to users.

The recall affects about 169,500 units sold in the U.S. and 5,300 in Canada, according to the Consumer Product Safety Commission. 

The agency said the ovens in the ranges can experience delayed ignition of the bake burner, which poses a risk of burn hazards to users.

The recall affects about 169,500 units sold in the U.S. (Nick Oxford/Bloomberg via Getty Images)

90,000 BOTTLES OF CHILDREN’S IBUPROFEN RECALLED NATIONWIDE, FDA SAYS

The recall involves Frigidaire, Frigidaire Gallery and Frigidaire Professional gas ranges models:

• FCFG3083AS
• FCRG3083AD
• FCRG3083AS
• GCFG3060BD
• GCFG3060BF
• GCFG3070BF
• GCRG3060BD
• GCRG3060BF
• PCFG3080AF

• FCFG3062AB
• FCFG3062AS
• FCFG3062AW
• FCRG3051BB
• FCRG3051BS
• FCRG3051BW
• FCRG3052BB
• FCRG3052BS
• FCRG3052BW
• FCRG3062AB
• FCRG3062AS
• FCRG3062AW
• FCRG306LAF
• GCFG3059BF

The models have the serial number range of VF52200000 through VF54399999. Both numbers are printed on a nameplate located in the drawer beneath the oven.

The CPSC said consumers should stop using the recalled ranges immediately and contact Electrolux, which will provide in-home installation of a new bake burner for free. The agency said consumers can still use the cooktop burners on the range.

CHOCOLATE CANDY SOLD AT LIDL RECALLED OVER UNDECLARED HAZELNUT ALLERGEN

Frigidaire HVAC equipment in Sonoma County, Calif., May 5, 2024. (Smith Collection/Gado/Getty Images)

Electrolux and the CPSC are aware of 62 reports of the oven’s bake burner delayed ignition, including 30 reports of burn injuries.

The ranges were sold at Lowe’s, Home Depot and other retailers nationwide, as well as through Frigidaire’s website from June 2025 through January 2026 for between $630 and $2,700.

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European tensions are resurfacing as questions grow over burden sharing in global conflicts, and former House Speaker Newt Gingrich argued long-standing imbalances between the U.S. and its allies are becoming harder to ignore.

Fox News contributor Newt Gingrich joined FOX Business’ Stuart Varney on “Varney & Co.” to discuss the widening divide between the United States and Europe as the conflict in the Middle East continues to test international alliances.

Gingrich pointed to what he described as a fundamental disconnect in expectations, saying Europe has grown reliant on American leadership for decades.

“The fact that we protected Europe from having liberated it after World War II. We protected it all through the Cold War. We are still the primary protectors of Europe. They need to learn to do their fair share,” Gingrich said.

KEVIN O’LEARY FORECASTS GLOBAL POWER SHIFT IN STRAIT OF HORMUZ AS IRAN CONFLICT RATTLES OIL MARKETS

As pressure builds around key global shipping routes, including the Strait of Hormuz, Gingrich suggested the burden of maintaining stability continues to fall largely on the U.S.

“It may take a substantial campaign, but I think in two or three weeks, if we focus on it, we can break the back of the Iranian effort to close the Strait,” Gingrich said.

He framed the issue as part of a broader philosophical divide, arguing that the U.S. is focused on innovation and forward momentum, while Europe leans more heavily on regulation.

Members of the U.S. military on a missile destroyer during Operation Epic Fury (U.S. Navy via Getty Images / Getty Images)

“We think you’re going to get to the future by innovation. They think you can hide from the future by regulation. It doesn’t work,” Gingrich said.

Despite calls for stronger allied coordination, Gingrich suggested Europe’s military limitations mean its role would likely remain secondary.

CHINESE MISSILES TARGETING US NAVY COULD TRIGGER ‘OVERNIGHT’ WAR SHIFT, EXPERT WARNS

“It would be nice if they would help a little bit. It would make people feel better if they would help a little bit,” he said.

Still, he emphasized that the outcome of ongoing conflicts will ultimately hinge on U.S. and allied strength, not symbolic contributions.

“In the end, it’s the American-Israeli coalition, which is gonna win this fight. … Having one ship from France or one ship from Britain is not a very big contribution. … The truth is, if you look at the British Navy right now, it is so underfunded, they can’t do very much. They just don’t have the capacity,” Gingrich concluded.

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You may not be able to stop every phishing email from reaching employee inboxes, but the right training program can dramatically improve your odds.

Phishing remains the primary entry point in cyber breaches, accounting for around 15% of incidents, according to one recent study. AI is one of the main drivers for this continued growth, allowing cybercriminals to write more realistic and personalized messages and distribute them en masse.

Technical measures like spam filters and DMARC email authentication protocols block many malicious messages, but phishing is ultimately a human issue. Security-conscious organizations are increasingly investing in employee phishing training, making it a key driver of stronger security culture and safer behaviour.

So what does it take to build an effective employee phishing training program in 2026?

Focus on behaviour change, not awareness

The ultimate goal of phishing training should not just be to raise awareness. The goal is to actually reduce security risk. Most people understand what phishing is, but that knowledge doesn’t necessarily translate into the right decisions when a convincing email hits their inboxes.

While helpful, completion rates or quiz scores should not be the main benchmark for how effective a phishing training program is. The focus must shift toward increasing reporting rates.

To improve outcomes, the type of training matters most. Presentation-style sessions are okay for building awareness, but building better habits requires employees to go through actual phishing simulations and realistic scenarios that mirror the attacks they may encounter in their daily work.

Conduct training continuously

The frequency of training is also a key factor. Phishing threats evolve constantly, so a training program that runs once a year will quickly become outdated. Organizations should instead adopt a continuous approach to phishing education.

Short, regular training modules and periodic phishing simulations help reinforce secure behaviour over time while keeping employees familiar with the latest phishing techniques. Such ongoing exposure helps build instinctive responses, such as pausing before clicking a link or verifying unusual requests.

Continuous training also allows organizations to gradually increase the realism and difficulty of phishing simulations. As employees improve, training can introduce more sophisticated scenarios that better reflect modern attacks.

Role-based and contextual training

Not all employees face the same phishing risks. While generic phishing campaigns do exist and are quite common, most successful attacks are personalized and tailored to the target’s role, responsibilities, or access within the organization.

Finance teams, for example, may encounter invoice scams, while HR may receive phishing emails disguised as job applications or employee document requests. Executives and senior leaders are frequent targets of spear-phishing and business email compromise (BEC) attacks that impersonate trusted partners or internal staff.

Modern training platforms are increasingly using AI to generate realistic phishing scenarios at scale. Organizations can create a variety of training emails that closely mimic real-world attacks, specific to different roles, departments, and risk profiles.

Strong reporting culture

In the majority of workplaces, reporting phishing attempts is often not something employees think about. Even if they detect a phish and rightfully disengage, they often just delete the email and move on without alerting the security team.

To fix that, reporting should be made as easy as possible, ideally through one-click reporting buttons integrated directly into the email client. A strong reporting culture also hinges on the way organizations respond when there are incidents. If employees fear being blamed or disciplined for clicking a malicious link, they may hesitate to report incidents, which can delay detection and response.

A good approach is to treat mistakes as learning opportunities, and for security teams to use those incidents to refine and adjust training materials by focusing on employee weak points.

Track effectiveness over time

It’s difficult to determine whether a phishing training program is working without metrics. Organizations should track key indicators such as phishing reporting rates, reporting speed, and click rates during phishing simulations.

These metrics provide valuable insight into how employees are responding to potential threats. If these metrics are getting better with time, it’s a good sign that the training program is heading in the right direction.

Tracking performance over time also helps identify repeat offenders or employees who may require additional guidance. The same can be applied to entire departments. Some departments may have significantly higher click rates during simulations, which is a solid indicator that improvements to the training material for that specific group are necessary.

Conclusion

Phishing will likely remain one of the main threats organizations have to deal with throughout 2026 and beyond. The human factor is the ultimate target for attackers, and it’s a critical defence organizations have to strengthen.

By building a phishing training program that focuses on realism and improving employee behaviour, organizations can turn the human factor into their strongest asset contributing to a resilient security culture.