THE HOT STORY

Amazon offers $1,000 prizes for delivery drivers

Bloomberg reports that Amazon is offering $1,000 prizes to delivery drivers who share what they love about their jobs. The "My Why" contest from the world’s largest e-commerce company is for drivers employed by delivery service partners, a network of small businesses that Amazon contracts with to manage workers who bring its packages to customers. Amazon said the competition is meant to "spotlight the drivers employed by our partners and celebrate the diverse motivations for doing this work and supporting their communities." Jerome Sloss, a New York City delivery driver and a Teamsters union activist who supports a New York bill that would require companies such as Amazon to directly employ last-mile delivery workers, said: “They’re not even acknowledging us as actual employees, but they’re offering us $1,000 to talk about why we like ‘delivering smiles.’”

Bloomberg

LEGAL

Trump bars firms with pro-diversity policies from government contracts

U.S. President Donald Trump has issued an executive order prohibiting federal contractors from implementing diversity, equity, and inclusion (DEI) policies. The order, effective in 30 days, is indicative of Trump's ongoing opposition to DEI measures, which he claims hinder job opportunities for capable Americans. He said: "My Administration has made significant progress in ending racial discrimination in American society." Contractors must now include a clause in their bids affirming they will not engage in any racially discriminatory DEI activities. This latest move follows previous actions to dismantle diversity programs within federal agencies.

Barron's

Daily Mail

Baltimore is first U.S. city to sue xAI over Grok sexual 'deepfakes'

Baltimore is the first major U.S. city to file a complaint against Elon Musk's xAI concerning issues with its Grok image generator. Baltimore Mayor Brandon Scott said in an emailed statement to CNBC that sexual deepfakes on Grok “have traumatic, lifelong consequences for victims . . . We’re talking about tech companies enabling the sexual exploitation of children.” Scott wrote: “Our city will not stand by and allow this to continue; it’s a threat to privacy, dignity, and public safety, and those responsible must be held accountable.” A complaint filed in Baltimore Circuit ⁠Court said xAI is violating the city's consumer protection statute by promoting Grok as a safe, general-purpose artificial intelligence assistant for everyday people.

CNBC

The Guardian

HIRING

Microsoft freezes hiring in major cloud, sales groups

Microsoft executives have instructed managers at major divisions, including its cloud unit and North American sales groups, to suspend new hiring. The executives told managers to halt the hiring of any new candidates who did not already have a job offer, citing a need to cut costs and boost margins. The freeze is not company-wide ⁠and other divisions including the group building Microsoft's Copilot AI tool are still hiring.

The Information

ECONOMY

U.S. consumer sentiment falls in March as fuel prices surge

U.S. consumer sentiment declined in March, with the University of Michigan index falling to 53.3 from 56.6 in February, as rising gasoline prices and uncertainty linked to the Iran war weighed on confidence. The drop, which was steeper than expected, was driven by weaker short-term economic expectations, although longer-term outlooks remain relatively stable for now. Higher fuel costs, up around 33% month-on-month to nearly $4 per gallon, alongside stock market declines that hit wealthier households, contributed to the downturn. The survey also showed rising short-term inflation expectations, raising concerns for policymakers that sustained pessimism could influence spending behavior and wage demands. “The persistence of high prices continues to be the dominant factor for consumer views of the economy, with 47% of consumers spontaneously noting that prices are currently eroding their personal finances,” Joanne Hsu, director of the survey, said in a statement. “Consumers with middle and higher incomes and stock wealth, buffeted both by escalating gas prices and volatile financial markets in the wake of the Iran conflict, exhibited particularly large drops in sentiment."

USA Today

Bloomberg

Wall Street Journal

REMUNERATION

Wall Street bonuses hit record highs but fall short of city expectations

Wall Street bonuses reached a record average of $246,900 for 2025, up 6% year-on-year, driving a total payout of $49.2bn amid strong investment banking and trading activity. Despite the increase, the rise fell short of New York City’s 15% growth expectations, limiting anticipated tax revenues at a time when the city faces a budget shortfall exceeding $5bn. While the payouts are set to boost state and city tax receipts modestly, tensions remain between policymakers and the financial sector over potential tax increases, with bonuses continuing to represent a significant share of overall compensation for securities industry employees.

Wall Street Journal

CULTURE

Workers impressed by corporate jargon 'may be worse at their jobs'

A study by Cornell University has found that employees who are impressed by corporate jargon may struggle with effective decision-making. “There's a lot of useful things about the way people in a certain company speak to each other. But it becomes problematic when that turns into nonsense that's used for misleading purposes,” Shane Littrell, a postdoctoral researcher and cognitive psychologist at Cornell University who authored the study, said. “It's the people that can't tell the difference that seem to have the most problems.” The research indicates that those susceptible to corporate jargon often display lower analytical thinking and problem-solving skills. The study highlights the need for awareness of how corporate jargon can mislead even highly educated professionals.

The Guardian

INTERNATIONAL

Revolut to shift 40% of its global workforce to India

London-headquartered fintech firm Revolut has said it plans to have around 40% of its global workforce based in India by the end of 2026 as it expands its India global capability center. The company will fill 1,600 roles in its India center through 2026, taking its headcount in the country to 5,500 by the end of the year. Jonathan Beaney, Revolut's head of talent acquisition, described India as one of the "deepest and most dynamic talent pools in the world." He said: "Our India tech hub is central to our global scale . . . the technical caliber, ambition and excellence we see here ‌make ⁠India a natural long-term home for Revolut."

Reuters

Tech in Asia

Unemployment continues to increase in Finland

Bloomberg reports that Finland has posted another set of "dire" employment market figures, with the European Union's worst joblessness reaching levels previously seen during the first wave of the pandemic. The headline unemployment rate increased to 10.9% in February, the most in almost six years, and the trend jobless rate rose to 10.5%, according to data from Statistics Finland. Youth unemployment was higher than for the overall population, with the trend rate for 15-24-year-olds at 22.9%. The increase in joblessness is partly explained by stricter job-search requirements and changes to social security, said economists at research institute Pellervo Economic Research.

Bloomberg

Middle East conflict puts South Asia's Gulf remittances at risk

Millions of South Asian workers in the Gulf send home significant remittances that are crucial for their home economies, but economists warn that ongoing conflict in the region could disrupt these financial flows. "The duration of the conflict has so far been too short to severely impact employment of migrant workers or their remittance transfers," says Rajiv Biswas, CEO at the Singapore-based macroeconomic and geopolitical risk research firm Asia-Pacific Economics. "However, if the duration of the conflict does become more protracted and extends into months, then it will become increasingly likely that migrant worker jobs will be impacted, as key sectors such as tourism and commercial aviation suffer increasing economic losses."

Deutsche Welle (EN)

OTHER

Macy’s AI chatbot drives surge in online customer spending

Macy’s has reported that users of its new AI-powered shopping assistant, “Ask Macy’s,” spend roughly 400% more online than other customers, based on recent testing across its website. The tool, built on Google’s Gemini platform, offers features such as personalized recommendations, “complete the look” suggestions, and virtual try-ons, and forms part of the retailer’s broader strategy to revive sales and enhance digital engagement. The rollout reflects a wider industry trend, with around 40% of major U.S. retailers adopting AI shopping assistants, as companies aim to create more personalized, conversational experiences and prevent customers from turning to external platforms. While early results suggest a positive impact on spending, Macy’s noted that users of the chatbot may already be more intent on purchasing, and the company continues refining the technology based on customer and employee feedback.

Bloomberg

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