VANCOUVER, British Columbia – As the AI revolution continues to rapidly expand throughout the corporate world, many employees are facing “automation anxiety” that their job may be replaced by technology. 

Speaking on Centre Stage at Web Summit Vancouver, Kyle Hanslovan said, “I think many will be pressured in the next five years, where their job can be automated.”

Just this week, Meta began laying off another 8,000 employees, roughly 10% of its workforce, while TurboTax maker Intuit said it was cutting 17% of its global staff – about 3,000 jobs – as it accelerates its AI integration. In a company-wide memo announcing the cuts, Meta CEO Mark Zuckerberg told employees, “success isn’t guaranteed” in the AI era, though he said he doesn’t plan another round of layoffs this year.

META SHIFTS 7,000 WORKERS INTO AI ROLES AS LAYOFFS, MANAGER CUTS LOOM

Through April 2026, more than 85,000 technology sector jobs have been eliminated, a 33% increase from the same period last year, according to placement firm Challenger, Gray & Christmas. Still, despite more than 300,000 total layoffs across all industries year-to-date, that figure is roughly half of last year’s reductions – a number skewed by the mass federal government layoffs announced in the first months of the second Trump administration.

“Inevitably there will be some disruption. We can’t pretend that there won’t be,” said Sim Desai, CEO of pre-IPO marketplace Hiive Capital, speaking on the same panel. But, he added, “in the short term, there’s a lot of job creation, because a lot of people are investing in adopting AI tools.”

That cautiously optimistic view was echoed by Amazon founder Jeff Bezos, who recently told CNBC, “I think there will be a labor shortage because of AI… it’s going to elevate all of these people. We’re going to have so much productivity.”

EXPERT SAYS MASSIVE AI INVESTMENT IS ‘LAYING THE GROUNDWORK’ FOR AMERICA’S FUTURE

The average American is less sanguine. A recent Stanford University study found nearly two-thirds of Americans (64%) expect AI to lead to fewer jobs in the next 20 years. That anxiety was on full display in the now-viral video of former Google CEO Eric Schmidt’s commencement address at the University of Arizona, where he was met with loud boos after telling graduates that AI’s technological transformation would be “larger, faster and more consequential than what came before.”

New graduate hires may be the most vulnerable. Anthropic co-founder and CEO Dario Amodei has predicted that AI could wipe out as much as half of all entry-level white-collar jobs over the next one to five years. The unemployment rate for recent college graduates has already climbed to 5.6%, well above the 35-year average of 4.5%, according to the New York Federal Reserve.

US ECONOMY ADDED 115,000 JOBS IN APRIL, BEATING EXPECTATIONS

Despite the negative sentiment, companies are still hiring.

“I am definitely hiring, even now more than I was before,” Hanslovan said, noting that Huntress continues to add software engineers, detection engineers, product managers and sales leaders.

Steven Schwartz, co-founder and CEO of $1.6 billion creator marketplace Whop, said, “the future of work is in question in the era of AI,” but added that he is not “bearish that AI will take everyone’s job.” He expects he’ll “have a bigger team in two years than today.”

In spite of the percolating worker anxiety, the U.S. economy has added 304,000 jobs so far in 2026, according to the establishment survey measure of the Labor Department’s monthly employment report. The jobless rate is still sitting at a historically low 4.3%.

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That backdrop appeared to factor into President Donald Trump’s decision Thursday afternoon to postpone the signing of a planned AI executive order – one focused on having the federal government pre-vet frontier AI models for cybersecurity risks. Trump told reporters in the Oval Office that he pulled the order at the last minute because he was worried it could “be a blocker” to U.S. competitiveness in a global AI race that America still leads.

NTPC’s renewable energy arm NTPC Green Energy reported a consolidated net profit at Rs 197 crore in the March-ended quarter versus Rs 233 crore in the year-ago period, a 15% decline. The profit after tax (PAT) is attributable to the owners of the parent company.

The profit fell despite 47% revenue growth by the state-run company to Rs 913 crore in Q4FY26 versus Rs 622 crore posted by the company in the corresponding quarter of the previous financial year.

The contraction in the company’s profits in the quarter under review could be attributed to a sharp 60% rise in expenses which stood at Rs 713 crore in Q4FY26 versus Rs 445 crore in the corresponding quarter of the last financial year. The expenses grew 16% on a sequential basis versus Rs 616 crore in Q3FY26. The expenses were made under the heads like employee benefits expense, finance cost, depreciation and amortization, among other things.

The PAT surged multi-fold, rising 11X sequentially from Rs 17 crore posted in the October-December quarter of FY26 while the topline grew 40% quarter-on-quarter compared to Rs 622 crore in Q3FY26.

The profit before tax (PAT) stood at Rs 247 crore in Q4FY26, up from Rs 37 crore in Q3FY26 and down from Rs 307 crore in Q4FY25. The net profit margin in Q4FY26 stood at 21.60% versus 2.65% in Q3FY26 and 37.48% in Q4FY25 while the operating margin stood at 55.30%, 40.83% and 77.75%, respectively in the same periods.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

JPMorgan Chase Chairman and CEO Jamie Dimon put New York City’s new progressive mayor, Zohran Mamdani, on notice, telling the self-described ideologue that city governance is about lower crime and economic survival, not empty “morality” slogans.

Following a high-stakes face-to-face meeting, the Wall Street titan openly criticized far-left tax talking points like “fair share” and warned that treating wealth creators as political punching bags is actively destroying the city’s talent pool.

“Every city has to compete. And they have to compete at every level – arts, science, schools, that is what it is. I’m not inventing that, he can be an ideologue, he has to compete, too,” Dimon said Thursday in a Bloomberg TV interview.

“And we’ll see: will he learn that he’s got to make this city a place where people want to grow and build and live and have families and work?” he continued. “And he’s gotta compete with Shanghai and Hong Kong and Singapore and Nashville, and people vote with their feet. So it isn’t this morality thing that people talk about. It’s like, are you building a great city with lower crime and stuff like that?”

MAMDANI’S WALL STREET COURTSHIP SPARKS CRITICISM OF ANTI-BILLIONAIRE AGENDA

On Monday, Dimon and Mamdani met in person at the bank’s new headquarters in Manhattan, as the democratic socialist mayor intensifies outreach to Wall Street leaders following backlash over proposals to raise taxes on wealthy New Yorkers.

The meeting was “constructive and the tone was friendly,” a JPMorgan spokesperson told Reuters. According to City Hall, the pair discussed reducing government waste, cutting red tape tied to development projects and expanding public-private partnerships. JPMorgan said the conversation also focused on New York City’s competitiveness.

“I don’t care what he says. What does he do? I will judge that,” Dimon said. “And so what actually happens, because you can talk about morality and ideology all you want, but if things don’t get better, you didn’t do a good job… And so, hopefully, he’ll learn. I want him to do a good job. I’m not against him.”

The CEO also expanded on Mamdani’s controversial wealth tax proposals: “I don’t think… people making under a certain amount [should] pay taxes at all. I would agree with that, but when they say, ‘fair share,’ what do they mean? They should give a number.”

Dimon added that New York City’s existing tax landscape “already” makes the Big Apple uncompetitive, with just 26,000 JPMorgan employees based there today versus 33,000 in Texas.

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“The Dallas mayor calls up all the time saying, ‘What can I do to help you? I have land over here,’ you know, and that is pro-business and pro-people-love-living there,” he said.

“New York’s a wonderful place too, but… [people] think that somehow being anti-business is going to help a city. It’s not.”

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FOX Business’ Bradford Betz contributed to this report.

Kevin Warsh was sworn in as the new chair of the Federal Reserve by Supreme Court Justice Clarence Thomas in a ceremony at the White House on Friday.

The 56-year-old Warsh previously served at the Fed as a member of its Board of Governors from 2006 to 2011, and became the youngest-ever Fed governor having been nominated at the age of 35. Trump nominated Warsh to the role in January, and he was confirmed by the Senate last week on a 54-45 vote.

Warsh steps into the top role at the nation’s central bank at a pivotal time, with inflation rising due to an energy price shock caused by the Iran war and markets viewing the prospect of interest rate cuts as increasingly unlikely in the near term.

He replaces former Fed Chair Jerome Powell, whose term as chairman expired earlier this month. Powell has indicated he will continue to serve as a member of the Fed Board of Governors for the foreseeable future, as his term in that capacity runs until January 2028.

Powell has said that he won’t be “shadow Fed chair” and will seek to build consensus with Warsh and the other members of the Federal Open Market Committee, which sets monetary policy, when it’s possible to do so.

WHO IS KEVIN WARSH, TRUMP’S PICK TO SUCCEED JEROME POWELL AS FED CHAIR?

Warsh’s nomination faced a delay in the Senate as Sen. Thom Tillis, R-N.C., held up the nomination over his concerns about the Justice Department’s investigation into Powell’s testimony about the Fed’s costly renovation project and the implications for central bank independence – as it occurred against the backdrop of Trump urging Powell to cut interest rates and threatening to fire him.

Tillis dropped his hold after U.S. Attorney for the District of Columbia Jeanine Pirro closed her office’s investigation, with the Fed’s inspector general, Michael Horowitz, taking it over. That allowed his nomination to proceed from the Senate Banking Committee to the Senate floor.

Senate Banking Committee Chairman Tim Scott, R-S.C., whose panel held Warsh’s confirmation hearing, said in a statement that the new Fed chair is a “serious, experienced leader” who will “help restore trust in the Fed, protect its independence, and keep it focused on stable prices and maximum employment.”

President Trump said during the ceremony that “I want Kevin to be totally independent. I want him to be independent and just do a great job. Don’t look at me, don’t look at anybody. Just do your own thing and do a great job, okay?”

The president added that he thinks Warsh will “safeguard the Fed’s integrity” and will be a leader whom other Fed policymakers listen to and collaborate with.

“Thankfully, unlike some of his predecessors, Kevin understands that when the economy is booming, that’s a good thing. We don’t have to go crazy, just let it boom,” Trump said. “We want it to be like nobody has ever had before, because we do have some debt we’d like to take care of, and the way you do that is through growth.”

“We want to stop inflation, but we don’t want to stop greatness,” the president said. “And you know as we discussed, economic growth doesn’t mean inflation… you don’t have to stop the world because you’re doing well.”

FEDERAL RESERVE LEAVES INTEREST RATES UNCHANGED AS POWELL’S CHAIRMANSHIP NEARS END

After his oath of office was administered by Supreme Court Justice Clarence Thomas, Warsh said he was grateful for the opportunity to step into the role “at a time of great consequence” and that it’s the “honor of a lifetime to be called back into public service.”

Warsh said that he intends to “fill the role of chairman with energy and purpose” as former Fed Chair Alan Greenspan did, acknowledging his predecessor recently marked his 100th birthday and that he was thinking about him as someone whose example he wishes to follow.

“Our mandate at the Fed is to promote price stability and maximum employment. When we pursue those aims with wisdom and clarity, independence and resolve, inflation can be lower, growth stronger, real take-home pay higher,” Warsh said. “America can be more prosperous, and no less important, America’s place in the world more secure.”

“To fulfill this mission, I will lead a reform-oriented Federal Reserve, learning from past successes and mistakes both, escaping static frameworks and models, and upholding clear standards of integrity and performance.”

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“Today marks a return to an institution that I do in fact cherish. It was nearly a generation ago, at another time of great consequence, that I with some outstanding public servants at the Fed, both here in Washington and at the Reserve banks,” Warsh continued.

“My goal now is to create an environment in which the best people can do their life’s best work, and to face every challenge in the spirit of common purpose and devotion to the national interest. In a word, to excellence. These duties are now mine, Mr. President, because of the trust you have placed in me, I accept them with gratitude and will strive every day to serve our fellow citizens well,” Warsh said.

LOS ANGELES — Apex Legends experienced connectivity and login issues for hundreds of players on Friday, May 22, 2026, according to user reports and outage tracking sites.

The account @status_is_down posted on X: “Apex Legends is reportedly down for some gamers currently. Are you one of them?” The post linked to a community discussion thread on designtaxi.com.

Downdetector recorded elevated reports throughout the day, with game launch, server connection and matchmaking issues as the top categories. Reports were moderate compared to major historical outages but impacted players across multiple regions.

EA and Respawn Entertainment had not issued an official statement on the incident as of late afternoon May 22. The companies typically communicate via official social channels and service status pages during disruptions.

Players reported difficulties logging into the game, joining matches or maintaining stable connections. Issues appeared intermittent rather than a full global shutdown, with some users regaining access after waiting periods.

This follows previous technical hiccups for the popular battle royale title, which maintains millions of daily active players across PC, PlayStation and Xbox platforms. Apex Legends Season 23 was active during the reported outage.

Community reactions on X included frustration from players planning gaming sessions. Some users noted similar issues the previous day around the same time.

Others reported eventual success after waiting. Comments indicated that connectivity improved for many throughout the afternoon.

Apex Legends, developed by Respawn Entertainment and published by Electronic Arts, launched in 2019. It has sustained a large player base through regular seasonal updates, new legends, maps and battle pass content.

No specific cause for the May 22 issues was confirmed by EA or Respawn. Common triggers for such outages include server maintenance, technical glitches, high concurrent player loads or third-party network problems.

The game’s competitive scene, including ALGS events, was not immediately impacted. Official tournament servers often operate on separate infrastructure.

Players experiencing issues were advised to try standard troubleshooting: restarting the client, checking internet connections, verifying game files or waiting for resolution.

Apex Legends maintains dedicated service status pages through EA and Respawn. No widespread outage was officially listed, suggesting the problems were regional or resolving gradually.

The incident highlights the reliance of live-service games on stable server infrastructure. With millions of concurrent players during peak hours, even brief disruptions affect thousands worldwide.

EA and Respawn have a history of transparent communication during major outages, often providing estimated resolution times and compensation when appropriate. No such offers had been announced for this event.

Fan discussions continued on Reddit, X and official forums. Users shared error messages and login queues. The hashtag #ApexLegendsDown trended briefly.

As of late afternoon May 22, many players reported that connectivity had improved or fully returned. The situation remained fluid for some users.

Apex Legends continues to receive regular content updates, including new seasons, legends, weapons and limited-time modes. Season 23 was ongoing at the time of the disruption.

The game’s large player community often shares workarounds during outages. Developers encourage reporting technical problems through official support channels.

This partial outage was relatively minor and short-lived. Services appeared to stabilize throughout the afternoon without extended maintenance.

The event underscores ongoing challenges in maintaining global server stability for popular online games. Apex Legends has faced occasional similar issues in the past but generally maintains high uptime.

Players are advised to monitor official status pages for real-time updates. Respawn typically resolves minor connectivity problems quickly through client restarts or backend adjustments.

The May 22 reports represent another instance of intermittent service disruption for the title. The game remains one of the most played battle royale experiences worldwide.

Deepa Jewellers, Cotec Healthcare receive Sebi approval for IPOs Deepa Jewellers and Cotec Healthcare have received final observations from capital markets regulator Sebi to launch their IPOs, as primary market activity continues across jewellery and pharmaceutical manufacturing sectors.

Hyderabad-based Deepa Jewellers plans to raise funds through a combination of fresh issue and offer-for-sale.

The IPO consists of a fresh issue of shares worth up to Rs 250 crore and an offer for sale of up to 1.18 crore shares by promoters Ashish Agarwal and Seema Agarwal.

The company had filed its draft papers with Sebi in December 2025.

Incorporated in 2016, Deepa Jewellers operates as a business-to-business processor and supplier of hallmarked gold jewellery with a strong presence in southern India including Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.

The company primarily focuses on processing 22-karat gold jewellery and operates through an outsourced manufacturing model supported by around 40 karigars.
Its product portfolio includes traditional South Indian jewellery categories such as vaddanam, CNC machine-cut bangles, gents kada, vanki, kangan, earrings, mangtika, maatil, braid ornaments and rings.Apart from jewellery processing, the company also undertakes job-work assignments where customers supply raw material and the company delivers finished ornaments.

Deepa Jewellers is also engaged in trading silver ornaments, gold bullion, precious stones and 18-20 karat jewellery products.

According to the company, it had a customer base of 315 clients across 13 states and one union territory as of November 2025, including jewellery retail chains and standalone jewellery stores.

The company’s business model is focused largely on wholesale distribution and processing rather than direct retail operations.

Separately, Cotec Healthcare also received Sebi approval for its IPO.

Cotec Healthcare operates as a contract development and manufacturing organisation, or CDMO, serving pharmaceutical companies across multiple therapeutic segments.

The company manufactures formulations across 24 dosage categories including injectables, tablets, capsules, ointments, syrups and infusions.

Its product portfolio spans therapeutic areas such as anaesthetics, antibiotics, cardiovascular drugs, dermatology, endocrinology, nutrition, supplements and women’s healthcare.

Cotec Healthcare operates a manufacturing facility in Roorkee spread across 21,871 square metres with installed manufacturing capacity of over 4 billion units.

The company serves domestic pharmaceutical companies and also exports products to 14 countries.

According to the company’s disclosures, it served 154 customers in FY25 compared with 177 in FY24 and 122 in FY23.