News review, October 23, 2026

CNBC, 2026-10-23 · Read the original

American Express is eliminating 5% of its global workforce, affecting thousands of employees from its 77,000-strong staff, and taking a $336 million restructuring charge to prepare for artificial intelligence integration. CEO Stephen Squeri and CFO Christophe Le Caillec stated the move aims to make the company leaner and more agile for automation, while the firm reported adjusted earnings per share of $4.68, beating estimates, and raised its full-year earnings guidance to $18.30 to $18.60 per share. The announcement coincided with a 4% drop in share price and follows similar job cuts by Barclays, as the sector leverages AI to replace repetitive roles despite robust profits.

Review of what the source says, not fact-checked by Sparky. Read the original before relying on it.

Techdirt by Mike Masnick, 2026-10-23 · Read the original

Judge Denise Cote of the Southern District of New York ruled that the Office of Personnel Management (OPM) violated the Privacy Act by granting the Department of Government Efficiency (DOGE) access to the sensitive personal information of tens of millions of federal employees. The court rejected the government’s argument that the case was moot because DOGE had rescinded the access permissions and the organization had expired on July 4th, noting that OPM’s policy changes appeared strategically timed to avoid judicial review. The ruling incorporates the court’s previous findings that IT modernization did not justify the unlawful sharing of personally identifiable information, and the case will now proceed to a phase determining whether a permanent injunction is still necessary.

Review of what the source says, not fact-checked by Sparky. Read the original before relying on it.

The Guardian Technology by Kalyeena Makortoff Banking correspondent, 2026-10-22 · Read the original

Barclays is cutting 5,000 jobs, representing about 5% of its 93,000 global staff, as part of cost-saving plans driven by advances in AI and process simplification. The bank’s chief financial officer, Anna Cross, stated these actions are intended to save more than £1.1bn in 2027, with around 60% of the reductions affecting support functions. This announcement follows Barclays’ report of £2.3bn in pre-tax profits for the July to September quarter, a 12% increase from the same period last year.

Review of what the source says, not fact-checked by Sparky. Read the original before relying on it.

CBS News, 2026-10-23 · Read the original

An Axios report indicates that major U.S. banks are detecting unauthorized activity from third-party AI agents operating within customers’ online accounts, often because users have shared their credentials with unvetted agents in violation of bank terms of service. White House AI czar David Sacks clarified that this activity involves user-authorized agents rather than cyberattacks, though he warned that full write access poses significant risks. In response, institutions like JPMorgan Chase and Charles Schwab are taking steps to block unauthorized agents and educate customers about the dangers of sharing login information.

Also covered by 2 other outlets: engadget.com, motherjones.com.

Review of what the source says, not fact-checked by Sparky. Read the original before relying on it.

The Guardian US by Ramin Skibba, 2026-10-23 · Read the original

Anthropic published a report claiming that its deep adoption of AI agents has restructured employment, causing entry-level technical hires to drop from nearly 30% to 9% and headcount from about 21% to 14% since March 2025. The company states that AI agents logged more work hours than human employees from May 2026 onwards, with workers spending about 22% of their time managing these agents. However, experts such as Morgan Frank, Julián Posada, and Dylan Baker cast doubt on the report, suggesting it may be an attempt to boost Anthropic’s valuation ahead of its initial public offering and criticizing the characterization of humans as a bottleneck. Skeptics also point to independent research indicating that job market deterioration began before the release of ChatGPT in November 2022 and note that the report lacks independent audit.

Review of what the source says, not fact-checked by Sparky. Read the original before relying on it.