The job cuts come as businesses across the financial and technology sectors increasingly adopt artificial intelligence to improve efficiency and automate technical tasks.

AI Drives Operational Transformation

According to CNBC, most of the affected roles are within Visa’s technology and product operations teams.

In a memo to employees, Chief Executive Officer Ryan McInerney said the company must continue adapting its operating model to remain competitive.

“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” McInerney wrote, adding that AI is accelerating this transformation and changing how work is performed across the company.

Employees affected by the restructuring are expected to begin receiving notifications along with transition support.

Company Prioritises Growth Areas

CNBC reports that while artificial intelligence played an important role in the restructuring, it was not the sole reason behind the workforce reduction.

Visa intends to redirect resources toward strategic priorities, including services for affluent customers, cross-border payments, business payment solutions, stablecoin initiatives and international expansion.

At the end of its last fiscal year, the company employed approximately 34,100 people, meaning the announced reductions represent one of its largest recent workforce restructurings.

Financial Sector Continues AI Shift

The announcement reflects a broader trend across the financial services industry, where companies are using artificial intelligence to automate software development and other technical functions while controlling costs after several years of rapid hiring.

According to CNBC, McInerney said Visa is entering “a new era in commerce”, supported by strong financial performance and high client satisfaction, positioning the company to expand its investments in next-generation payment technologies.

Photo: Guardian GlassVisa plans to reduce its workforce by approximately 7%, eliminating around 2,600 positions, as the company restructures its operations and increases investment in future growth areas, according to CNBC.

The job cuts come as businesses across the financial and technology sectors increasingly adopt artificial intelligence to improve efficiency and automate technical tasks.

AI Drives Operational Transformation

According to CNBC, most of the affected roles are within Visa’s technology and product operations teams.

In a memo to employees, Chief Executive Officer Ryan McInerney said the company must continue adapting its operating model to remain competitive.

“To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,” McInerney wrote, adding that AI is accelerating this transformation and changing how work is performed across the company.

Employees affected by the restructuring are expected to begin receiving notifications along with transition support.

Company Prioritises Growth Areas

CNBC reports that while artificial intelligence played an important role in the restructuring, it was not the sole reason behind the workforce reduction.

Visa intends to redirect resources toward strategic priorities, including services for affluent customers, cross-border payments, business payment solutions, stablecoin initiatives and international expansion.

At the end of its last fiscal year, the company employed approximately 34,100 people, meaning the announced reductions represent one of its largest recent workforce restructurings.

Financial Sector Continues AI Shift

The announcement reflects a broader trend across the financial services industry, where companies are using artificial intelligence to automate software development and other technical functions while controlling costs after several years of rapid hiring.

According to CNBC, McInerney said Visa is entering “a new era in commerce”, supported by strong financial performance and high client satisfaction, positioning the company to expand its investments in next-generation payment technologies.

Photo: Guardian Glass

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The world’s largest cosmetics company continued to outperform the broader beauty market despite signs of slowing consumer spending in several regions.

Sales Exceed Market Forecasts

According to Reuters, L’Oréal generated €11.6 billion in sales during the three months ending in June, representing 6.3% like-for-like growth after adjustments related to the rollout of a new IT system.

The result exceeded analysts’ expectations, which had forecast sales growth of 5.7%, based on a Visible Alpha consensus.

Analysts at Jefferies described the performance as particularly strong given softer demand affecting several competitors, adding that they expected L’Oréal shares to outperform following the announcement.

Haircare and Online Sales Drive Performance

L’Oréal’s largest business division, focused on mass-market consumer products, delivered stronger-than-expected growth, supported by rising demand for haircare products across Europe and strong online sales.

Reuters notes that Chief Executive Officer Nicolas Hieronimus previously highlighted the “lipstick effect”—the tendency for consumers to continue purchasing affordable beauty products during periods of economic uncertainty.

Sales in Europe, L’Oréal’s largest market, increased 6.7%, while revenue in North America rose 5.9%, demonstrating resilient demand despite ongoing cost-of-living pressures.

Luxury Beauty Faces Mixed Conditions

The company’s Luxe division, which accounts for roughly one-third of total sales, recorded 4.7% growth, below market expectations.

Although L’Oréal achieved double-digit growth in China within the division, Reuters reports that continued weakness in the country’s travel retail sector weighed on overall performance.

The results contrast with recent updates from luxury groups LVMH and Hermès, both of which reported slower growth in their perfume and cosmetics businesses, while Unilever posted 8% underlying sales growth in its Beauty & Wellbeing division during the same period.

Photo: Viorel Dudau/ Dreamstime.com

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The new service aims to combine health information from multiple devices, applications and services into a single platform, helping users better understand their health data and make more informed lifestyle decisions.

AI Brings Health Data Together

According to Forbes, Samsung’s new AI Health Assistant is designed to address one of the biggest challenges in consumer healthcare: fragmented health information.

Rather than leaving users to manage data across different wearables, mobile applications and health services, the platform uses artificial intelligence to analyse and combine information into personalised health insights.

The move comes as the use of wearable health devices continues to grow. Forbes cites research indicating that nearly 60% of Americans own at least one wearable device, while more than 83% of users wear these devices on at least five days each week.

Samsung’s ecosystem already includes smartwatches capable of tracking activity, sleep, fitness and long-term health metrics, providing a large foundation of data for the new AI-powered service.

Big Tech Deepens Its Healthcare Investments

According to Forbes, Samsung’s latest announcement reflects a broader industry trend in which leading technology companies are expanding their presence in healthcare through artificial intelligence, software and digital services.

Nvidia, traditionally known for computer hardware, is investing heavily in healthcare technologies, including AI models, robotics, medical simulation platforms and drug discovery tools.

Other major technology companies are following similar strategies. Google continues to develop AI solutions for drug research, analytics and healthcare applications, while Amazon has expanded into clinical care through One Medical.

AI Becomes a Strategic Healthcare Tool

The growing investment from major technology companies reflects increasing confidence that artificial intelligence can improve healthcare delivery, patient engagement and preventive care.

According to Forbes, by integrating data from multiple sources into unified platforms, companies such as Samsung hope to simplify health management for consumers while making digital healthcare more personalised and accessible.

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The findings suggest that AI is becoming a core skill across a growing range of professions, extending well beyond software development and data science.

AI Skills Spread Across Industries

According to EuroNews, AI-related job titles are now common in sectors including sales, human resources, legal services, customer support and administration.

Indeed classifies a role as AI-labelled when employers explicitly include artificial intelligence in the job title rather than simply mentioning it in the job description.

Pawel Adrjan, Director of Economic Research at Indeed, said the trend reflects how AI tools and skills are becoming increasingly integrated into everyday work across multiple industries.

Eurostat data cited by EuroNews show that 15% of Europeans aged 16 to 74 used generative AI for work in 2025, highlighting the technology’s growing adoption across the continent.

Germany Leads AI Hiring

Germany recorded the highest number of AI-labelled job titles during the first quarter of 2026, with 288 different AI-related titles.

The United Kingdom followed with 160, ahead of France (138), the Netherlands (84) and Spain (81).

According to EuroNews, the increase has been rapid since 2022. Germany, for example, expanded from 72 AI-labelled job titles to 288 over four years, while Spain rose from 8 to 81.

Most AI Jobs Are No Longer Tech Jobs

The report found that the majority of AI-labelled positions now fall outside traditional technology occupations in most major European economies.

Germany recorded the highest share, with 59% of AI-labelled jobs classified as non-tech roles. The Netherlands followed at 58%, while both France and the United Kingdom reached 54%.

Spain remains the exception, where 64% of AI-labelled positions are still concentrated in technology occupations.

Examples include sales executives focused on AI products, lecturers specialising in digital business and AI, legal advisers covering AI regulation, HR managers using AI to improve efficiency, and marketing specialists applying AI tools in their work.

According to Indeed, explicitly including AI in a job title signals that employers consider artificial intelligence to be a central requirement of the role rather than simply an additional skill.

Photo: magnific.com

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According to Zhang, AI has the greatest impact when it helps small and medium-sized enterprises (SMEs) make faster, more informed sourcing decisions, improve efficiency and support business growth.

AI Focused on Business Decisions

The opinion piece argues that many European SMEs remain cautious about AI, questioning whether it can be trusted with critical purchasing and supply chain decisions.

According to Zhang, Alibaba.com has developed AI tools trained on verified trade data—including supplier profiles, certifications, product specifications and logistics records—rather than general internet content.

The platform’s AI verifies factors such as REACH and RoHS compliance, ISO certifications, landed costs and customs classifications before recommending suppliers, aiming to improve the reliability of sourcing decisions.

New AI Mode Targets SMEs

EuroNews reports that Alibaba.com plans to launch AI Mode in December, a new agentic AI system designed to process natural-language sourcing requests.

According to the article, the platform will analyse technical drawings, review compliance documentation and compare suppliers based on pricing, production capacity, certifications and delivery timelines to identify the most suitable partners.

Zhang argues that the technology is intended to complement rather than replace human expertise, particularly for small businesses that lack dedicated procurement teams.

Supporting European Competitiveness

The opinion highlights growing interest in AI among European companies.

According to research commissioned by Alibaba.com and conducted by Censuswide, 90% of European SMEs consider product innovation essential to their growth strategy, while 62% say they are confident using AI tools for areas such as product design, sourcing and manufacturing.

Zhang concludes that AI can help European businesses manage increasingly complex supply chains, meet sustainability requirements and compete more effectively internationally, provided the technology remains focused on practical, verifiable business outcomes rather than technological hype.

Photo: Business Insider

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While the figures highlight one of the industry’s strongest financial performances on record, they largely reflect conditions before the conflict involving Iran disrupted aviation markets and increased uncertainty for the sector.

Emirates Tops Global Ranking

According to EuroNews, Emirates recorded a record net profit of $5.4 billion (€4.7 billion), marking the strongest financial performance in the airline’s history and retaining its position as the world’s most profitable carrier.

Delta Air Lines ranked second with $5 billion (€4.3 billion) in net profit, followed by United Airlines at $3.4 billion (€3 billion).

Among European carriers, Ryanair reported €2.26 billion in annual profit, while Turkish Airlines generated approximately $2.4 billion (€2.1 billion) despite a decline in profitability.

The ranking also included Singapore Airlines, Qatar Airways, Cathay Pacific and All Nippon Airways.

Conflict Raises New Risks

According to EuroNews, much of the reported performance reflects a period before renewed regional instability significantly affected airline operations.

The conflict led to temporary airspace closures across parts of the Gulf, reducing passenger traffic for several airlines and disrupting flight schedules.

Qatar Airways reported that profit declined by nearly 10%, while Emirates carried 1% fewer passengers after airspace restrictions affected operations.

Fuel Costs and Demand Under Pressure

The conflict has also renewed concerns over fuel prices.

According to One Investments, cited by EuroNews, jet fuel represented approximately 25.8% of airline operating costs in 2025. Following disruptions around the Strait of Hormuz, fuel prices briefly rose above $150 per barrel before easing.

The International Air Transport Association has warned that global airline profits could fall sharply this year if higher operating costs and geopolitical uncertainty persist.

Meanwhile, Ryanair said it would not issue financial guidance for the coming year, citing limited visibility over future market conditions despite having hedged most of its fuel purchases at significantly lower prices.

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Birnbaum argues that Europe must prioritise the most cost-effective decarbonisation measures while accelerating electrification, modernising infrastructure and investing in innovation.

Electrification at the Core of the Transition

According to Birnbaum, Europe needs to invest approximately €6.6 trillion in its energy system over the next decade to meet its climate objectives for 2050.

He argues that around 80% of emissions reductions can be achieved most efficiently through the electrification of sectors such as transport and heating.

The article states that broader adoption of electric technologies could reduce overall energy system costs by more than €1.5 trillion by 2050, equivalent to average savings of around €300 per household each year across the European Union.

Birnbaum also calls for lower electricity taxes and the removal of levies that currently make electricity significantly more expensive than natural gas, saying this would encourage consumers to adopt cleaner technologies while reducing the need for subsidies.

Modern Grids and Innovation Are Critical

According to EuroNews, the proposed Energy Playbook emphasises the importance of expanding and digitalising Europe’s electricity grid to support growing renewable energy production and rising electricity demand.

The report argues that smarter grids and greater demand-side flexibility could replace up to 240 GW of backup generation capacity and generate annual savings of approximately €40 billion by 2050.

It also recommends adjusting investment in hydrogen infrastructure to better reflect actual market demand, a move that could save nearly €200 billion by 2030.

Competitiveness and Climate Goals Must Go Together

Birnbaum concludes that achieving climate neutrality requires not only investment in renewable energy, but also stronger support for research and development, innovation and private capital.

According to the article, initiatives such as the Clean Industrial Deal and the Affordable Energy Action Plan offer Europe an opportunity to balance decarbonisation with economic competitiveness, energy security and long-term affordability.

The opinion argues that a more business-oriented approach to the energy transition could help Europe maintain industrial leadership while delivering its climate objectives.

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The legally binding measures, adopted under the Digital Markets Act (DMA), are intended to boost competition in the digital market by giving consumers greater choice and reducing the dominance of major technology platforms.

New Rules for Search and Android

According to EuroNews, Google will be required to start sharing anonymised search data with competing search providers from January 2027, while changes allowing greater competition on Android devices must begin rolling out from July 2027.

The European Commission also wants Android users to be able to choose their preferred AI assistant for voice commands instead of relying solely on Google’s services, including Gemini.

European Commission Executive Vice-President Henna Virkkunen said the measures are designed to encourage alternatives to Google Search and Google’s AI products, ultimately expanding consumer choice across the European Union.

Google Raises Privacy Concerns

Google criticised the decision, arguing that mandatory data sharing could create significant risks for user privacy, device security and national security.

Kent Walker, the company’s President of Global Affairs, said that sharing search information with rival companies could expose users’ private searches despite anonymisation safeguards.

According to EuroNews, European officials maintain that the rules include strict anonymisation requirements and that privacy, security and data integrity were key considerations in the decision.

Further Regulatory Action Possible

The order follows proceedings launched under the Digital Markets Act in January and is separate from an ongoing investigation that could result in financial penalties.

According to EuroNews, Google could face additional enforcement action under the DMA as early as next week.

The legislation allows the European Union to impose fines of up to 10% of a company’s global annual turnover for non-compliance.

Google has already faced substantial EU competition penalties in recent years, including €8.2 billion in fines issued between 2017 and 2019 under previous antitrust cases, followed by another €2.95 billion fine in a separate competition ruling last year.

Photo: GBM.com

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The proposal, contained in a draft regulation obtained by EuroNews and expected to be presented in September, reflects growing concerns over geopolitical tensions, data security and Europe’s dependence on strategic technologies and raw materials supplied by non-EU countries.

Public Buyers Could Exclude High-Risk Companies

According to EuroNews, the draft regulation would allow contracting authorities to assess potential risks throughout the entire procurement process—from planning and market consultations to contract execution.

The proposal states that companies could be excluded if their ownership, financing or control structure creates a risk of undue foreign influence or if legislation in their home country could require them to disclose sensitive information or interfere with contract performance.

Public authorities would also be allowed to apply a European preference when awarding contracts, although this would not become mandatory under the current proposal.

Strategic Sectors Targeted

The draft legislation would apply to sectors considered critical for the European Union, including energy, water, transport, postal services, and oil and gas extraction.

According to EuroNews, the proposal builds on the European Commission’s broader “Made in Europe” strategy, unveiled earlier this year to strengthen domestic industries in areas such as clean technologies, automotive manufacturing and energy-intensive sectors.

The regulation also seeks to protect critical infrastructure, supply chains, essential services and technologies from physical, cyber and hybrid threats, while reducing strategic dependence on third-country suppliers.

Security Concerns Drive Policy Shift

EuroNews reports that European institutions have become increasingly concerned about foreign legislation that could compel companies to transfer data stored within the EU.

Several member states have already taken action. France recently ended a contract with Microsoft involving health data and replaced Palantir Technologies with French firm ChapsVision for domestic intelligence data processing.

Meanwhile, countries including Germany, France, Italy and Denmark have restricted or cancelled contracts involving Huawei over national security concerns.

The proposal also follows recent trade tensions with China, including restrictions on exports of rare earth minerals and semiconductor-related products that are critical for Europe’s automotive, defence and clean technology industries.

Photo: ILGA Europe

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The review comes as the rapid growth of stablecoins and recent policy changes in the United States raise new regulatory challenges for European lawmakers.

Focus on Stablecoins and Foreign Issuers

According to EuroNews, the European Commission is consulting industry stakeholders until 30 September to determine whether MiCA should be reopened.

Several EU diplomats told EuroNews that a revision now appears inevitable, citing both technological developments and concerns expressed by European institutions, including the European Central Bank.

One of the main issues is the regulation of non-EU stablecoin issuers, which are not specifically covered under the current MiCA framework despite operating within the European market.

Trump’s Policies Increase Regulatory Pressure

EuroNews reports that renewed attention on stablecoins follows U.S. President Donald Trump’s support for digital assets and the adoption of the GENIUS Act, which established a regulatory framework for stablecoins in the United States.

Stablecoins are digital assets designed to maintain a fixed value by being linked to traditional currencies such as the U.S. dollar.

According to Artemis Analytics, global stablecoin transaction volumes increased by 72% in 2025, reaching approximately $33 trillion (€28 trillion).

With around 95% of stablecoins backed by the U.S. dollar, European policymakers are increasingly assessing how these assets could affect financial stability and cross-border payments.

Broader Digital Payments Review

The revision is also expected to examine emerging technologies such as tokenisation and distributed ledger technology (DLT).

According to EuroNews, the European Central Bank has already launched new initiatives, including the Pontes and Appia payment infrastructure projects, designed to support next-generation digital payment systems.

The planned MiCA review is expected to help ensure that Europe’s crypto regulatory framework keeps pace with rapid technological innovation while addressing the growing international role of digital assets.

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