Global Pulse: AI, Economy, Empathy

Hello everyone, Empathy Keeper here, from 'The beginning of empathy' blog. Yesterday, as we looked at the news from 24 countries around the world, we couldn't help but feel both the dazzling speed of technological advancement and the diverse anxieties and hopes we encounter in our daily lives. Artificial intelligence, or AI, is shaking up industrial landscapes and causing financial markets to fluctuate, while unexpected events sometimes disrupt our ordinary days. In such a rapidly changing world, how can we understand and empathize with each other to build a better future? Today, I'd like to delve deeply into yesterday's major news through the lens of Empathy, seeking out the hidden meanings and our shared connections.

One of the biggest global trends yesterday was undoubtedly the story of technological innovation and its underlying implications. News related to Oracle and Apple in the United States, in particular, served as crucial indicators of the present and future of tech companies. Oracle's stock price surged by over 22%, capturing market attention, driven by the explosive growth prospects of its AI cloud business. This clearly demonstrates the powerful demand for AI infrastructure and the immense potential of companies that secure an early lead in this field. Nebius, which signed an AI infrastructure contract with Microsoft, also saw its stock price soar by nearly 50%. It's clear that AI is no longer just a technological trend; it has become a core driver determining corporate value.

On the other hand, Apple unveiled its iPhone 17 and iPhone Air, but the market's reaction was somewhat lukewarm. Despite new designs and improved camera performance, investors seemed to be expecting greater innovation from Apple's AI strategy. This suggests that no matter how fast technology advances, a continuous 'wow' factor is essential to meet consumer and market expectations. While tech companies are generating massive profits through AI, we must also pay attention to the social impacts, such as changes in the job market. The announcement by Denmark's Novo Nordisk of a restructuring involving 9,000 employees due to increased competition and patent expirations reminds us that technological progress doesn't always bring only positive outcomes. The way Indonesia's ElevenLabs drives innovation with a small team also showcases a new corporate culture in the AI era, where efficiency and agility are paramount.

Economic instability was another major theme in yesterday's news. In Brazil, a program to help people find 'forgotten money' totaling 10.7 billion Brazilian Reals is underway, and the postal service is offering opportunities to renegotiate debts with interest rates discounted by up to 99%. This shows that many people are still facing economic difficulties and highlights the crucial role of governments and businesses. In Argentina's Buenos Aires province, a gross income tax withholding on virtual wallets is set to be implemented starting in October. The introduction of new tax policies alongside the spread of digital finance clearly illustrates the impact of technological development on social systems. Furthermore, Argentina's inflation rate recorded 1.6% in August, and the government is issuing new debt to prevent the depreciation of the dollar, indicating ongoing economic instability.

Currency fluctuations were also significant news in several countries. In Russia, the ruble sharply weakened against major currencies, and experts predicted its depreciation would continue until the end of the year. In contrast, the Egyptian pound strengthened to its highest level since July 2024, boosted by large-scale investment agreements with Saudi Arabia and the United Arab Emirates. The Mexican peso reduced its gains against the dollar after inflation data was released. These currency fluctuations are complex phenomena resulting from the interplay of each country's economic situation and international relations, and they directly or indirectly affect all our lives. In Türkiye, news broke that the price of gram gold surpassed 4,870 lira, approaching 5,000 lira, which appears to be a combined result of expectations for interest rate cuts by the US Federal Reserve and heightened geopolitical tensions. Gold continues to be recognized as a safe-haven asset in uncertain times.

Stories about the ups and downs of daily public services also evoked our Empathy. At Terminal 4 of London's Heathrow Airport, a suspected 'mass hysteria' incident led to 20 people being checked and one hospitalized before the terminal reopened. No harmful substances were found, but the anxiety and fear people must have felt in an uncertain situation are entirely understandable. In London, a subway strike was expected to cause significant disruptions to public transport, and in Paris, France, a strike on September 10th was forecast to cause chaos for SNCF and RATP transport. Such strikes highlight the difficult challenge of finding social consensus between workers' demands for rights and citizens' inconvenience.

Madrid City in Spain began imposing new garbage collection fees on 1.4 million property owners. This news could lead to increased living costs for citizens. In Kaohsiung, Taiwan, a 39-hour water cut was scheduled for 10 districts due to subway construction, affecting approximately 158,000 households. In Zaragoza, Spain, a transformer failure caused a power outage for over 25,000 households. These disruptions to public services make us realize how much we all depend on basic infrastructure. In Japan, heavy rains caused temporary suspensions of some sections of the JR Sanyo Line and the Sanyo Shinkansen, reminding us once again how vulnerable human life is in the face of natural disasters. News that Korea Railroad Corporation is striving to ensure worker safety underscores that safety is a paramount value.

There was also much news about corporate survival strategies and social responsibility. Australia's ANZ Bank announced plans to cut 3,500 employees and 1,000 contract workers by September 2026. While this is part of the bank's restructuring efforts, for many, it translates into the reality of job insecurity. Smokey Bones, a US barbecue chain, plans to close 15 underperforming locations and convert some into sports bar chains. Poland's JSW stated that it has nearly exhausted all its reserves, and layoffs may be unavoidable if market conditions do not improve. While these corporate decisions may be unavoidable choices for survival in fierce market competition, Empathy and a responsible attitude towards affected employees and local communities are essential during the process.

Meanwhile, in the UK, the succession battle for Rupert Murdoch's media empire concluded with his son Lachlan consolidating control. This is an interesting case study showing how the governance structure of a giant corporation changes and how family dynamics play out in the process. Saudi Arabian mobile operator Mobily completed the purchase of 2.5 million of its own shares for a long-term incentive program. This can be interpreted as an effort to motivate employees and enhance corporate value.

There were also heartwarming stories showcasing the power of culture and community. In Fukushima, Japan, news came that a wooden soccer stadium is being designed based on local residents' participation. This project symbolizes the community's efforts for recovery after the 2011 earthquake and nuclear accident. Hiroshima Electric Railway demonstrated the resilience of a community overcoming adversity through a commemorative operation of 'No. 156,' an atomic bomb survivor tram that resumed service just three days after the bombing. Such stories evoke deep Empathy by showing how humans do not lose hope and rise again even amidst disaster and hardship.

Looking at yesterday's global news, we saw both the innovation brought by advanced technologies like AI and the realistic problems many people still face, such as inflation, unemployment, and public service instability. As technological development accelerates, we must all collectively ponder and strive to ensure that its benefits are distributed fairly to everyone and that its side effects are minimized. The transition to an AI-centric economy, in particular, will bring significant changes to the labor market, and the establishment of social safety nets and retraining systems appears urgent. The digitalization of finance offers convenience but also clearly necessitates new forms of regulation and consumer protection measures. Investment in infrastructure, once again, confirmed its essential role not just for economic growth but for citizens' safe and stable lives.

Empathy Keeper has analyzed yesterday's major world news and shared perspectives from an Empathy standpoint. I reiterate that the content of yesterday's blog posts was based on news articles. Through such diverse news, we realize that our lives are interconnected. Whether it's technological advancement or economic fluctuation, 'people' are ultimately at the center, and empathizing with their lives is, I believe, the most important value we should pursue. Moving forward, through 'The beginning of empathy' blog, I will continue to share news from around the world, understand it more deeply, and contribute a small part to creating a world where everyone can empathize.

See you in the next update. Thank you.