Business
Octopus Investments cuts one fifth of workforce amid AI-driven overhaul
Octopus Investments is set to cut around a fifth of its workforce as it accelerates the adoption of artificial intelligence, in a move that reflects the rapid transformation underway across the asset management industry.
The City-based firm, which manages close to £15 billion in assets, is understood to be placing around 130 roles at risk of redundancy, primarily in back-office functions. With just over 600 employees, the restructuring represents a significant shift in how the business operates, as it seeks to streamline processes and modernise its infrastructure.
The cuts form part of a broader strategy to invest more heavily in technology, particularly AI, which is increasingly being used to automate routine tasks, improve efficiency and reduce operational costs across financial services.
The move underscores how quickly AI is reshaping the financial sector, particularly in areas such as administration, compliance and reporting, where repetitive processes are well suited to automation.
Asset managers have been among the fastest adopters of the technology, using AI tools to handle data processing, client onboarding and portfolio analytics. As a result, roles that were once labour-intensive are being reduced or redefined.
Octopus Investments said the decision was necessary to ensure the business remains competitive in a rapidly changing environment.
“We’ve made the difficult but necessary decision to ensure we are a simpler business that can respond to the pace of change,” a spokesperson said, adding that affected employees would be supported in finding new roles both within the wider group and externally.
The restructuring is not an isolated case. Across the City and globally, financial institutions are reassessing their workforce structures as AI capabilities expand.
HSBC, for example, is reportedly considering up to 20,000 job cuts over the coming years, partly driven by the efficiency gains offered by AI.
The shift reflects a broader recalibration of the industry, where firms are balancing cost pressures with the need to invest in new technologies that can enhance performance and client service.
Despite the job cuts, Octopus Investments remains financially robust. The firm reported a 10.3 per cent increase in net profit to £76.7 million in 2024, with revenues rising to £225.7 million.
It is one of the most profitable divisions within the wider Octopus Group, which also includes businesses such as Octopus Energy and Octopus Money.
The decision to reduce headcount is therefore not driven by financial distress, but by a strategic effort to adapt to technological change and maintain long-term competitiveness.
The firm has faced some criticism in recent years over the fees charged on certain investment products.
Its flagship venture capital trust, Octopus Titan VCT, agreed to reduce management fees by 17 per cent last year, while the company has also earned substantial fees from managing private investment vehicles, even in periods where those funds reported losses.
These issues have added to the pressure on the business to demonstrate efficiency and value for investors, a factor that may also be influencing its push towards automation.
For employees, the restructuring highlights the growing impact of AI on white-collar roles, particularly in financial services.
While front-office and client-facing positions are less immediately affected, back-office functions are increasingly being automated, reducing the need for large operational teams.
At the same time, new roles are emerging in areas such as data science, AI development and digital strategy, suggesting a shift in the types of skills required across the industry.
As AI continues to evolve, asset managers are likely to face further pressure to adapt their business models, balancing efficiency gains with the need to retain expertise and maintain client trust.
For Octopus Investments, the current restructuring represents a significant step in that transition, one that reflects both the opportunities and challenges posed by technological change.
Across the City, similar moves are expected to follow, as firms seek to position themselves for a future where automation plays an increasingly central role in financial decision-making and operations.
Business
Los Angeles International Airport (LAX) TSA Wait Time Averaging Around 17 to 21 Minutes
Travelers at Los Angeles International Airport, known as LAX, are experiencing relatively short TSA security wait times Friday, March 27, 2026, with official airport data showing general boarding and TSA PreCheck lanes at 0 to 5 minutes in the Tom Bradley International Terminal as of early morning. While the ongoing partial government shutdown has caused record delays at some major U.S. airports, LAX has largely avoided the severe staffing shortages and multi-hour lines seen elsewhere.

The official flyLAX.com security wait times page reported 0 minutes for both general and PreCheck screening in TBIT early Friday, with similar low figures in recent days. Third-party trackers and traveler reports indicate average standard security waits fluctuating between 8 and 25 minutes depending on the hour, far below the four-hour peaks reported at hubs like Houston, Atlanta and Orlando amid the funding lapse.
LAX officials stated this week that the airport has not seen significant deviations from typical passenger wait times, and no immediate operational changes are expected despite the shutdown affecting roughly 50,000 TSA employees working without pay nationwide. Call-out rates at LAX have remained manageable compared with other facilities experiencing 40% to 50% absenteeism.
**Current Conditions at LAX**
As of late March 27, real-time monitors such as TakeoffTimer and OnAirParking showed standard security waits averaging around 17 to 21 minutes, with peaks near 34 to 36 minutes during early morning hours (4-5 a.m.) and much shorter times in the evening. TSA PreCheck lanes consistently cleared in under 5 to 10 minutes. Terminal-specific data varies slightly across LAX’s nine terminals, but TBIT — the busiest for international flights — has reported the lowest figures.
Recent traveler accounts on Reddit and Instagram confirm the trend: one post from March 26 described PreCheck taking less than 5 minutes at Terminal 1 with regular lines at 10-20 minutes. Multiple users noted breezing through mid-day with CLEAR or PreCheck in under 10 minutes, even during spring break travel.
The airport’s checkpoints open early, and conditions typically improve after the morning rush. Unlike airports deploying ICE agents for crowd management, LAX has relied on its existing staffing and efficient layout to maintain flow.
**Impact of the Partial Government Shutdown**
The funding impasse, now in its sixth week, has left TSA officers without paychecks since mid-February, prompting higher call-outs and more than 480 resignations nationwide. TSA Deputy Administrator Ha Nguyen McNeill warned Congress this week of the longest wait times in the agency’s 24-year history, with some lines exceeding four hours.
LAX has fared better due to factors including strong local management, lower relative call-out rates and high passenger volumes that may encourage consistent staffing. Airport officials emphasized no major disruptions, though they continue monitoring the situation closely. Spring break crowds have added pressure, but security has kept pace without the bottlenecks plaguing other hubs.
**How to Check Live TSA Wait Times at LAX**
Passengers should verify conditions in real time:
– Visit flyLAX.com/wait-times for official terminal-specific estimates, updated frequently.
– Use third-party tools such as TakeoffTimer.com, OnAirParking.com or the MyTSA app for user-reported data and forecasts.
– Check airline apps for gate information and any flight delays.
– Monitor LAX’s social media and the Port of Los Angeles alerts for announcements.
Experts recommend arriving at least two hours before domestic flights and three hours before international departures. Those with TSA PreCheck, CLEAR or airline priority boarding should still benefit from faster lanes, though even standard screening has moved efficiently this week.
**Tips for Smoother Security at LAX**
To minimize time at checkpoints:
– Enroll in TSA PreCheck or Global Entry for expedited screening.
– Prepare liquids in a quart-sized bag, remove laptops and wear slip-on shoes.
– Use mobile boarding passes and avoid prohibited items.
– Consider off-peak travel times when possible, such as mid-morning or evening slots.
– Have snacks, water and entertainment ready in case of unexpected delays.
Travelers without REAL ID-compliant identification can use TSA’s alternative processes, though these may add time. Families, elderly passengers or those needing assistance should request support early.
**Broader Travel Context in 2026**
LAX, one of the world’s busiest airports handling about 74 million passengers annually, serves as a major gateway for domestic, international and connecting flights. Efficient security helps sustain its reputation despite heavy traffic and occasional construction.
The shutdown has highlighted vulnerabilities in federal workforce funding, with TSA warning of potential airport closures if the impasse persists. At LAX, the focus remains on safety and throughput, with redundancy in checkpoints across terminals helping absorb fluctuations.
Nationally, wait times vary widely: some airports report minimal delays while others face chaos. LAX’s performance stands out as a relative success story amid widespread frustration.
**What Travelers Are Saying**
Feedback from recent days is mostly positive, with many praising quick PreCheck experiences and manageable regular lines. Some note that arriving extra early still provides peace of mind, especially for international flights requiring additional processing. Social media users have contrasted LAX favorably with reports from Houston and other strained facilities.
As negotiations to end the shutdown continue, LAX officials urge patience and preparation. Frontline TSA workers continue performing their duties under difficult circumstances, earning appreciation from passengers who recognize the challenges.
**Looking Ahead**
With spring travel in full swing, monitoring tools will remain essential. LAX expects normal operations to continue, supported by its infrastructure and staffing. However, any escalation in the funding situation could change conditions rapidly.
Passengers should build buffers into their plans and check multiple sources before heading to the airport. Parking, rideshare services and the LAX Automated People Mover remain fully operational, though traffic around the facility can add time during peak periods.
For now, on March 27, 2026, most travelers at Los Angeles International Airport are clearing security faster than expected amid a national TSA crunch. The airport’s proactive approach has helped keep lines moving, offering welcome relief for those flying out of one of America’s busiest hubs.
Business
TD Cowen raises Mirum Pharmaceuticals stock price target to $125

TD Cowen raises Mirum Pharmaceuticals stock price target to $125
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RenovoRx appoints Dr. Ramtin Agah as executive chairman and updates compensation

RenovoRx appoints Dr. Ramtin Agah as executive chairman and updates compensation
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Form DEF 14A Ford Motor For: 27 March

Form DEF 14A Ford Motor For: 27 March
Business
China Pacific Insurance (Group) Co., Ltd. (CHPXF) Q4 2025 Earnings Call Transcript
Shaojun Su
Joint Company Secretary
Good afternoon, ladies and gentlemen. Welcome to the CPIC Group 2025 Annual Results Announcement. I’m Su Shaojun, CPIC Group Board Secretary. It’s my great pleasure to meet you again. Now this year, we are conducting this event in both Shanghai and Hong Kong. It’s a face-to-face opportunity to give you a brief account of our performance last year and listen to your opinions and suggestions to protect the interest of small and medium-sized investors, we also have this event broadcast online. And after the meeting, you can watch the playback on our official website.
Next, I’m going to introduce our managers on the Hong Kong and Shanghai side. On the Hong Kong — on the Shanghai side, we have Mr. Fu Fan, CPIC Group Chairman; and also Mr. Yu Bin, CPIC Group Vice President; and also CPIC Life General Manager, Mr. Li Jinsong. And on the Hong Kong side, we have CPIC Group President, Mr. Zhao Yonggang; and Group Vice President, Mr. Ma Xin; and also Group Vice President, CIO and CFO, Mr. Su Gang; and [ Mr. Chang Hwei ], CPIC P&C General Manager. And our independent directors will also attend this meeting online.
First of all, Mr. Zhao Yonggang will give you account of our performance last year to be followed by a Q&A session. First of all, let’s give the floor to Mr. Zhao.
Business
Comixit signs Disney deal to launch webtoon comics with Mickey Mouse and Frozen
A UK-based start-up is bringing Mickey Mouse and other iconic characters to smartphones after striking a major content deal with The Walt Disney Company, in a bid to reverse declining reading habits among children.
London-founded Comixit has secured rights to adapt more than 100 titles across Disney, Pixar and 20th Century Studios into digital comic strips known as webtoons, a fast-growing format designed specifically for mobile consumption.
The agreement will see globally recognised franchises including Frozen, Ice Age and Moana reimagined as vertically scrolling, episodic comics tailored to younger audiences. The company has already partnered with the The Beano, signalling early traction in the children’s content space.
Comixit was founded in 2025 by entertainment executive Michael Nakan, who said the platform is designed to meet children “where they already are”, on their phones, while turning screen time into a more constructive activity.
“Disney has shaped imaginations for generations,” he said. “Bringing its characters into a modern, mobile-first format allows us to make reading engaging again.”
Webtoons, which originated in South Korea in the early 2000s, are structured for vertical scrolling, allowing users to move through stories frame by frame on a smartphone. The format blends visual storytelling with concise text, making it particularly accessible for younger readers and those less inclined towards traditional books.
Nakan said the idea for Comixit was sparked by declining literacy engagement among children, citing research that suggests only one in three young people aged eight to 18 now enjoy reading in their free time.
The start-up is entering a rapidly expanding market. Industry estimates put the global webtoon sector at around $9 billion in 2024, with projections suggesting it could grow to nearly $100 billion by 2033, potentially surpassing the scale of Japan’s manga industry.
By combining globally recognised intellectual property with a format optimised for mobile devices, Comixit is aiming to capture a share of this growth while addressing a broader cultural challenge around reading and engagement.
The platform uses artificial intelligence to convert traditional comic formats into webtoon-style content, but the company emphasises that all material is reviewed by human editors to ensure quality, accuracy and age-appropriate standards.
Unlike many digital platforms targeting younger audiences, Comixit has deliberately avoided social features such as comments, instead focusing on a curated and moderated environment designed to be safe for children.
The company is also developing tools that will allow users to create their own stories, adding an interactive dimension to the platform and encouraging creativity alongside consumption.
Comixit has attracted backing from prominent figures in film and media, including Harry Potter producer David Barron and Peaky Blinders producer Caryn Mandabach, as well as investor Magnus Rausing.
Nakan’s own background spans both film and television, with experience working alongside director Joe Wright and contributing to major productions such as Game of Thrones and House of Cards during his time at HBO.
The app is already available across the UK, Europe, the Middle East and Africa, with plans to expand into the United States, a key market for both digital content and children’s entertainment.
At its core, Comixit’s strategy reflects a broader shift in how content is consumed and how literacy can be supported in a digital-first world.
By leveraging familiar characters and immersive storytelling, the company is attempting to bridge the gap between entertainment and education, encouraging children to engage with narratives in a format that feels native to their everyday habits.
As traditional reading faces increasing competition from digital media, initiatives like this suggest the future of literacy may lie not in resisting screen time, but in reimagining it.
Business
Novo Nordisk: A Comeback Story In The World’s Fastest-Growing Drug Market (TSX:NOVO:CA)
The Edson Spencer Professor of Strategy and Technological Leadership at the University of Minnesota Carlson School of Management Alfred Marcus’ most recent book, Comeback: Can Great Companies Rise Again is available on Amazon. He is host of the popular New Books Network Podcast On the Cusp: Between Strategy and Ethics. and the author, co-author, or editor of more than 20 books including Strategic for Managing Uncertainty and Demography and the Global Business Environment (with M. Islam) as well as many academic articles
Analyst’s Disclosure: I/we have a beneficial long position in the shares of NOVO:CA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I also own Lilly.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
Chart Of The Day: What Will Oil Stocks Do If Oil Goes Vertical?
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Business
Court Rules Against Elon Musk’s X in High-Profile Advertising Boycott Case
A US federal judge has dismissed a major antitrust lawsuit filed by Elon Musk‘s social media company, X Corp., over allegations that top advertisers boycotted the platform.
The decision marks a significant legal setback for Musk, who has claimed that brands deliberately withheld billions in advertising revenue from X, formerly known as Twitter.
The case, which began in 2024, named the World Federation of Advertisers (WFA) and major companies, including Mars, CVS Health, and Colgate-Palmolive, as defendants.
According to CNBC, X alleged that the advertisers acted together to harm the company financially, even though such a move went against their own business interests.
However, US District Judge Jane Boyle of the Dallas federal court found that X failed to demonstrate it suffered harm under federal antitrust law.
In her ruling, Boyle wrote, “The very nature of the alleged conspiracy does not state an antitrust claim, and the court therefore has no qualm dismissing with prejudice.”
X Claims Billions Lost in Alleged Ad Boycott
The advertisers had argued that X could not prove a coordinated boycott. In court filings, CVS and the other companies maintained that they made independent decisions about where to spend advertising dollars.
They said concerns over X’s brand safety after Musk’s 2022 takeover—during which several employees were fired—led them to choose other platforms, NY Post reported.
These companies stressed that their actions were standard business decisions, not part of a conspiracy.
The lawsuit claimed that the advertisers, through the WFA initiative called the Global Alliance for Responsible Media, collectively withheld “billions of dollars in advertising revenue” from X.
Musk and X argued this harmed their ability to compete, but the judge concluded the complaint did not meet the legal requirements for an antitrust claim.
X and the World Federation of Advertisers have not publicly commented on the ruling. Musk, known for his bold statements on social media, has not yet reacted publicly to this setback.
Originally published on vcpost.com
Business
Inside Miami’s Indian Creek Village, where billionaires buy ultimate security
Fox News Digital gets a tour of Indian Creek Village from the Corcoran Group’s Julian Johnston, who shows why the world’s wealthiest are choosing to move into the ultra-exclusive neighborhood.
For a South Florida native, the silence and serenity are what hits you first.
Just a stone’s throw from the relentless horn-honking of Surfside and the designer-clad crowds of Bal Harbour Shops, Indian Creek Village exists in a vacuum of enforced peace. There are no sirens, tourists, and certainly no uninvited guests — only the whistle of the Atlantic wind and the rhythmic clap of waves against private piers.
Behind massive entry gates and dense tropical foliage lies a 300-acre fiscal safe haven where America’s billionaires aren’t just buying homes, but investing in a sovereign-level of security that Julian Johnston, one of Miami’s top luxury brokers, says is now the ultimate commodity.
“It is a political sanctuary. I’d say, also, the security itself is extremely tight. I mean, when you drive up, if you don’t have permission to get on, [the police] are actually quite rude and they tell you to go away,” the Corcoran Group agent — who has more than $10 billion in sales under his belt in the area — told Fox News Digital during a private tour of Indian Creek.
MARK ZUCKERBERG BECOMES LATEST CALIFORNIA BILLIONAIRE TO RELOCATE TO FLORID AMID TAX CONCERNS
“I think Indian Creek is an island unto itself,” he continued. “As a community… you’ve got the marina nearby, you can walk to the Four Seasons and go to the beach and it’s a lower-density construction. So there’s not as much traffic, and it’s just a beautiful place to live.”

An aerial view of the entrance of Indian Creek Village in Miami, Florida. (Getty Images)
Commonly known as the “Billionaire Bunker,” successful business leaders and celebrities including Jeff Bezos, Carl Icahn, Tom Brady, Ivanka Trump and Jared Kushner, Julio Iglesias, Adriana Lima, David Guetta, Don Shula and others have long called Indian Creek home. The ultra-exclusive neighborhood made recent headlines for its newest resident, Mark Zuckerberg, who paid a record $170 million for an under-construction property.
The migration is fueled by more than just sunshine; it is a tactical retreat from a wave of tax-the-rich proposals sweeping through blue-state legislatures like California, Washington and New York. While lawmakers and unions move to enact aggressive new levies on capital gains and unrealized wealth, the “Billionaire Bunker” provides a predictable fiscal fortress.
“Even starting with South Beach and Miami Beach, there’s only a thousand homes on the water, approximately… There’s only four real islands in this location that the owners own the roads, so you cannot get on without permission,” Johnston said. “People covet privacy, security… and so with such limited inventory, prices have risen very fast in the last couple of years.”

The grand backyard of a hundred-million-dollar home in Indian Creek Village, Miami. (Fox News Digital)
Zuckerberg’s new estate currently sits as a skeleton of modern concrete bones, still fully exposed to the coastal Miami elements. Parked outside his unfinished home appeared to be an unmarked, blacked-out SUV keeping watch over the lot.
It’s a stark contrast to the finished, bougainvillea-covered Mediterranean arches of the mansion Johnston showed to Fox News Digital. Though that completed home is not formally for sale, its market price is estimated to be more than double what Zuckerberg paid due to its specific location and views.
“Fifty percent of the sales on Indian Creek are off-market. There are some that are just thinking about selling, and it becomes known in the community, and they’ll start getting offers,” he said. “They don’t really want to advertise because that can draw a lot of tire kickers and people that are interested to see the home.”
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The agent noted that it typically takes one year for plans and permits, and three years to build a significant home on the island. He also explained how Bezos bought a 20-year-old Indian Creek property “in beautiful condition” for $75 million “just for somewhere to sleep” while his other two adjacent lots are being developed for his larger estate.

A home in Indian Creek Village, on Tuesday, Dec. 5, 2023. (Getty Images)
Driving by their residences, Bezos’ homes had long and winding driveways with iron gates and carefully tailored landscaping; Brady’s home appeared to be an almost entirely glass, gray-toned house from the front, with modern yet chic furniture and art visible through the window panes.
“When Tom Brady started building, he was thinking about selling the house for $80 to $100 million. Now he’s turning down offers four or five years later of $200 million,” Johnston said as another example.
“Some developers are doing very high-end homes now, but these end users, they have no budget. So then they’ll elevate those finishes even further, and they’ll build their dream home,” he continued. “I think this neighborhood is not attainable for some of us, including me. I think even some of the owners themselves are shocked.”
Every property on Indian Creek has direct water access. | Getty Images
Socializing on and around the man-made island has seemingly replaced New York City and Silicon Valley boardrooms, as the top agent pointed out changes in the way business deals and venture capital decisions are being made outside of their traditional offices.
“One of my clients… he’s a VC, he’s worth about $14 billion, and he would walk out in Manhattan, he’d go, ‘I put on my bulletproof vest, I go to war… Down here, I go out in shorts and a T-shirt, I walk on my conference call to a coffee shop, I finish that, I do another meeting… I found more peace with my life, I’m just as efficient,’” Johnston recalled.
With more than half of $1 trillion in combined net worth living on Indian Creek, it’s solidifying itself as the epicenter of a permanent wealth migration. However, the juxtaposition of the billionaires’ playground and an exceedingly risky market for average buyers is wide — UBS’ Global Real Estate Bubble Index for 2025 recently put Miami in the No. 1 spot for the real estate market with the highest bubble risk on Earth, surpassing the peak of the 2006 housing bubble.
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Miami’s breathtaking skyline can be seen from many Indian Creek homes. (Getty Images)
But Johnston argues that the trickle-down effect is funding massive public works, like high-speed transit and nearby affordable housing for the island’s vast support staff.
“I think it’s only going to benefit Miami greatly,” he said. “It has become more expensive and there’s been some push away from that. But the city is doing something about it, developers are reacting to it and there are peripheral areas now that are getting built out with beautiful retail and bus services and public transport, and I think it’s only going to make the city better and better.”
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