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HISTORICAL FACTS: 2 | History Defined

Talent fight heats up in India finance hub as two chiefs quit

GIFT City, India's international finance hub, is experiencing intense competition for talent as two foreign bank chiefs have recently resigned. Taral Shah of DBS Bank and Saiju Gandhi of Standard Chartered have left their roles, highlighting a challenge for the growing hub. This comes as global banks expand their presence,…

The Economic Times

FTSE 100 up despite Asia-focused financials falls

The FTSE 100 closed up 28.02 points, 0.3%, at 10,360.32.

Evening Standard

India bonds slip ahead of RBI policy as war risks lift oil

The Reserve Bank of India will announce its rate decision on Friday, with markets largely pricing in a pause even ‌as Standard Chartered, ⁠Capital Economics, ⁠ANZ, MUFG and OCBC call for a 25-basis-point hike.

The Economic Times

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Boos, AI-washing, and 'lower-value human capital': The psychological traps CEOs are falling into when they botch their AI messaging

Standard Chartered's Bill Winters is just the latest CEO to stumble.

Fortune

After receiving backlash, the CEO of Standard Chartered apologizes for hurt over saying ‘lower value human capital’ will be automated by AI

Bill Winters, the CEO of Standard Chartered, says about 15% of “back office” corporate function roles will be reduced in the next four years.

Fortune

Standard Chartered boss apologises for ‘lower-value human capital’ comments amid job cuts

Bill Winters faced backlash over remarks about some of near 8,000 staff set to lose roles to AI

The Guardian - UK

Nifty Bank rises 650 points as report says RBI unlikely to hike rates to defend rupee; Axis, ICICI, HDFC shares jump up to 2%

Indian bank stocks surged on Friday morning. This followed a report indicating the Reserve Bank of India is not planning interest rate hikes to counter the rupee's decline. The RBI is reportedly focusing on inflation as the primary driver for its monetary policy decisions. Other measures are being considered in…

The Economic Times

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Digital Edge Successfully Closes First US$575 Million HoldCo Loan to Accelerate Growth Across Key Asia-Pacific Markets

SINGAPORE, May 22, 2026 /PRNewswire/ -- Digital Edge today announced the successful closing of its inaugural US$575 million holding company ("HoldCo") financing, marking a significant milestone in the company's continued evolution as one of Asia-Pacific's leading digital infrastructure platforms. The proceeds from the facility will support the continued...

AAP

RBI rate hikes to start in June, says Standard Chartered

RBI rate hike: Economists at Standard Chartered anticipate India's central bank will begin raising interest rates as early as June due to escalating inflation risks from higher crude prices. They predict 50 basis points of hikes, split between June and August, to anchor sentiment and manage second-order effects on the…

The Economic Times

Standard Chartered boss sorry after saying AI would replace ‘lower-value human capital’ amid job cuts

The Asian-focused bank unveiled plans on Tuesday to cut around 7,800 jobs as it ramps up the use of AI across its operations

The Independent UK

Standard Chartered boss says AI comments taken ‘out of context’ after backlash

The Asian-focused bank unveiled plans on Tuesday to cut around 7,800 jobs as it ramps up the use of AI across its operations.

Evening Standard

Inside India’s biggest banking and financial services tech hubs

Standard Chartered plans to cut over 7,000 jobs in four years, replacing human capital with technology, particularly impacting back-office roles in India. This move aligns with a broader trend of financial firms leveraging AI and tech hubs in India for both support and higher-value functions, though some, like Wells Fargo,…

The Economic Times

‘Lower-value human’: Standard Chartered CEO’s remark sparks outrage as bank plans job cuts in India, other hubs

Standard Chartered’s plan to cut nearly 7,800 jobs globally by 2030 has triggered a fierce backlash online after CEO Bill Winters described some roles as “lower-value human capital” while outlining the bank’s AI-driven overhaul.

The Times of India

StanChart CEO seeks to reassure staff over AI-linked job cuts

Standard Chartered CEO Bill Winters reassured staff following news of job cuts, emphasizing that the bank is replacing "lower-value human capital" with technology and AI to boost profitability. He stated that while some roles will reduce or change, new opportunities will emerge, with a focus on reskilling and redeployment.

The Economic Times

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The Economic Times

The AI blindspot: Layoffs are piling up, but where are the returns?

Companies are cutting jobs to fund AI, but this strategy may not work. A global survey shows that reducing staff does not guarantee better returns on AI investments. Instead, businesses that invest in their people to guide and scale AI systems see greater financial success. The future of work involves…

International Business Times

Standard Chartered to Cut 7,000 Back-Office Jobs by 2030: First Major Bank to Put AI on the Layoff Schedule

Standard Chartered became the first major global bank on Tuesday to formally attach a specific headcount-reduction number and a deadline to AI deployment, announcing at its investor and analyst day in Hong Kong that it will eliminate more than 15 percent of its corporate function workforce by 2030.

The Independent UK

London-based banking giant to cut thousands of jobs by 2030

IN FULL

International Business Times UK

Admin Staff Eliminated: UK Bank Standard Chartered Confirms 7,800 Job Cuts As AI Replaces Support Teams

Standard Chartered plans to cut 7,800 support roles by 2030, leveraging AI and automation to enhance productivity and efficiency, marking a significant shift in workforce strategy.

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Tom’s Hardware

Standard Chartered plans to cut 7,000 jobs in AI push — lender wants to replace ‘lower-value human capital’ and focus on automation

Standard Chartered says that it will trim a huge number of positions from its back offices in a bid to increase automation.

France 24

Elon Musk loses his court battle against Sam Altman's OpenAI, but vows to keep fighting

A California court ruled on Monday that Elon Musk has waited too long to file a lawsuit against OpenAI's leadership accusing them of misleading the public about their plans to transform the once charity into a for-profit entity. Also in the business news this Tuesday, Standard Chartered cuts thousands of…

The Guardian - UK

Standard Chartered to cut more than 7,000 jobs as it steps up AI use

London-headquartered bank will reduce back-office jobs and aims to move some workers to new roles

The Economic Times

StanChart announces massive job cuts: Standard Chartered to lay off over 7,000 employees. Check deadline, reason

StanChart or Standard Chartered's move to streamline operations and rein in costs comes as more global firms slash jobs by deploying AI to improve efficiency.

The Economic Times

Incoming Fed chair Kevin Warsh has a difficult boss and a tough job ahead, says StanChart CEO Bill Winters

As Kevin Warsh steps into the role of leading the U.S. Federal Reserve, turbulent waters marked by soaring inflation await him, says StanChart's Winters. While there's a palpable push for interest rate reductions from political circles, some members within the Fed are advocating for hikes instead.

The Independent UK

Standard Chartered to cut around 7,800 jobs as AI use increases

The London-based company did not reveal the locations affected by the plans

Evening Standard

Standard Chartered to cut around 7,800 jobs amid increased AI use

The London-based company did not reveal the locations affected by the plans.

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