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Banks should stop using AI to ‘fire hundreds of people’—instead, they should use it to lend to poor clients: GFTN’s Sopnendu Mohanty

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Banking executives have claimed AI can help both their corporations and their clients. AI tools can speed up know-your-customer checks, help improve customer service channels, or spread access to wealth management tools to those outside the high-net-worth-income bracket. Yet the most pressing need for AI, according to Sopnendu Mohanty, co-founder of the Global Finance and … Read more

Trump administration plans to cap rental aid at 2 years could expose 1.4 million poor households to eviction

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Havalah Hopkins rarely says no to the chain restaurant catering gigs that send her out to Seattle-area events — from church potlucks to office lunches and graduation parties. The delivery fees and tips she earns on top of $18 an hour mean it’s better than minimum-wage shift work, even though it’s not consistent. It helps … Read more

Bitcoin now in banana zone, ‘Rich Dad Poor Dad’ author warns

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“Rich Dad Poor Dad” author Robert Kiyosaki has revealed he bought Bitcoin at $110,000, embracing what analyst Raoul Pal calls the market’s impending “Banana Zone.” Framing fear-of-missing-out (FOMO) as a contagious “disease,” Kiyosaki warned that latecomers chasing price spikes will suffer losses—creating prime opportunities for disciplined investors. His bold purchase reflects long-term conviction that Bitcoin … Read more

Britain’s HS1 rail link was ‘poor value for money’, report finds

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sixteen years after Britain’s first high-speed rail service was launched, an official government review into the economic impact of HS1 on the south-east has concluded the £7.3bn scheme provided “poor value for money”. The report, … Read more

Lifetime Isa raises risk of making poor financial decisions, say MPs

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Lifetime Individual Savings Accounts raise the risk of people making poor financial decisions, according to a report by an influential committee of UK MPs who questioned whether the tax-free savings product is subsidising wealthier first-home … Read more

Trump wants $1,000 investment accounts to help newborn Americans get a ‘big jump on life.’ Critics say poor families have more immediate needs

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When children of wealthy families reach adulthood, they often benefit from the largesse of parents in the form of a trust fund. It’s another way they get a leg up on less affluent peers, who may receive nothing at all — or even be expected to support their families. But what if all children — … Read more

Ethereum price declines, June’s poor track record looms

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Ethereum price pulled back in the past three days as traders adjust their positions for June, its historically worst month. Ethereum (ETH) has declined for three consecutive days, hitting a low of $2,500. That’s a 9.8% drop from its monthly high. Despite the pullback, it has outperformed most altcoins, many of which have fallen more … Read more

Honda walks back EV investment, sales targets on poor demand

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Honda Motor Co. scaled back investment plans and lowered sales targets for electric vehicles, as consumer demand remains lackluster and environmental regulations are weakened in major markets abroad. The Japanese automaker will now only invest ¥7 trillion ($48.3 billion) in EVs and software in the long term, chief executive officer Toshihiro Mibe said Tuesday, a … Read more

Kansas City was once a hub for federal workers—but now it’s overrun with pain from DOGE cuts. ‘The poor will become even more poor now’

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In her 28 years working for the federal government, Shea Giagnorio provided day care for the children of U.S. soldiers, training for employees and oversight for safety net programs. Public service took her from Germany to Alaska to Kansas City, Missouri, where she moved last year for a long-sought promotion. But when she reported to … Read more

Bitcoin to $1m? ‘Rich Dad Poor Dad’ author predicts when

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Financial author Robert Kiyosaki has predicted that Bitcoin could reach $1 million by 2035, while gold may hit $30,000 and silver $3,000 per ounce. “It will be the easiest money you ever made,” the “Rich Dad Poor Dad” author said. But Kiyosaki’s forecast comes amid warnings of what he expects will be “the biggest stock … Read more

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