Artificial Intelligence Causes Investors To Lose $400 Billion In A Week
Money and Business Economy News — Follow-up According to Axios, investors lost more than $400 billion after realizing that entire industries were on the verge of being replaced.
The website stated that the sell-off in the software industry sparked by the latest release from Anthropic (an American artificial intelligence startup) is ultimately just a small step in a larger transformation that could reshape the way we all live and work.
It is also the first concrete judgment on what will happen when artificial intelligence begins to devour entire categories of work, long before the long-anticipated bloodbath begins in the ranks of white-collar workers (employees who perform office work and work that requires mental and creative skills, do not need to work in places that require physical effort, and are paid average or high wages compared to other workers).
Anthropic recently released a suite of software-killing tools, prompting investors to reconsider the value of software companies, with the sector falling 25% last week.
One such tool, “Cloud Code,” writes code on behalf of users, essentially creating custom programs.
The other, “Cowork,” offers add-ons designed to help AI agents work as full-time colleagues.
The impact of artificial intelligence is not limited to the evaluation of software companies, but it is changing the way these companies operate from the inside out.
OpenAI CEO Sam Altman said he felt “helpless” and “sad” about using his artificial intelligence in programming.
The Death Of A Society At The Hands Of A Human Substitute
American journalist Peter Coy points out that software engineers who use this technology are talking to each other less than ever before, indicating a “death of community“.
As of this week, investors are seriously considering artificial intelligence not just as a productivity booster for software companies, but as an alternative.
The impact of artificial intelligence will not be limited to work, but will also affect profits, Shelby McFadden, portfolio manager of a $2.6 billion fund, told Axios.
McFadden added: “Expect the market to price in the broader impact of AI on the labor market across many industries within a year or so.”
On the other hand, some investors remain optimistic about software stocks, especially now that they are available at a discount.
Turning Humans Into Pawns On The Chessboard Of Artificial Intelligence
It will also be difficult to replace existing software companies, “with AI the code may become cheap but context is expensive… you can’t go beyond 10 years of customer data using machine learning,” data provider PitchBook noted in its report.
PitchBook explains that growth for software companies has already slowed, and this is a metric to watch for other industries that could be affected by artificial intelligence.
David Featherstonehow, executive vice president at Vista Shares, told Axios that customer retention will indicate whether people will become pawns on the AI chessboard.
What’s Next?
According to Axios, investors’ concerns about the impact of artificial intelligence on software companies may spread and drive them to innovate in other industries that will revolutionize emerging technology. https://economy-news.net/content.php?id=65447
Minister Of Trade: There Will Be No Price Increases And We Will Not Allow Them.
Money and Business Economy News – Baghdad Minister of Trade, Atheer Al-Ghurairi, confirmed on Sunday that there has been no increase in prices, noting that the Ministry of Trade will not allow this, while pointing out that goods are available and imports are continuing.
Al-Ghurairi said, “The government’s decisions are in the interest of the citizen. Today we visited the shopping center in the Al-Bayaa area to confirm the directives to provide all materials, which are available at a subsidized rate of less than 20 percent of the market price.” He explained that “the Ministry of Trade and government centers, in cooperation with the private sector, are the fulcrum or the point of balance to prevent any exploitation by some unscrupulous individuals who might try to increase prices through rumors.”
He added, “Under this government, through continuous measures that included all aspects of the economy, the implementation of the ASYCUDA system means controlling the borders, preserving the currency, preventing smuggling, and preventing the depletion of the currency,” noting that “the customs tariff is set according to the law, as is the case in countries around the world.”
He stated, “Through our monitoring of prices, there is no increase in them, but rather within the profit margin that exists between wholesale and retail,” noting that “the goods are available, imports are ongoing, the tariff is simple, even symbolic, and there is no increase in prices, and we will not allow that.”https://economy-news.net/content.php?id=65467
Oil: Iraq Is Classified Among The Countries Producing High-Quality Petroleum Products.
Energy Economy News – Baghdad The Undersecretary of the Ministry of Oil for Refining Affairs, Adnan Muhammad Hammoud, announced today, Sunday, that the new refineries have been operating at 100% production capacity, which has contributed to classifying Iraq among the countries producing high-quality oil derivatives.
Hammoud said in a statement to the Ministry of Oil that these projects aim to enhance self-sufficiency in white oil products, and to secure the needs of Iraqi citizens for gasoline, white oil and gas oil, and to achieve a qualitative leap in quantity and quality, through the introduction of a number of advanced refining projects, including refining units, hydrogenation units and gasoline production improvement projects.
He explained that the Salah al-Din Refinery /3 and the North Refinery /2 were opened with a total capacity of (140) thousand barrels/day, in addition to introducing the FCC (Catalytic Cracking) project in the Basra Refinery with a capacity of (35) thousand barrels/day, and the project of the Hydrogenation and Improvement of Gasoline Unit in Kirkuk Governorate with a capacity of (11) thousand barrels/day.
The Undersecretary also pointed out that these projects contributed to classifying Iraq among the countries producing high-quality oil derivatives with Euro 5 specifications, and moving from the consumption stage to the export stage, in addition to operating the Karbala refinery at 100% capacity.
He affirmed that the ministry is proceeding with the completion and opening of the hydrogenation and gasoline improvement unit project at Al-Sumoud Complex / North Refineries Company, in the coming days, which will enhance gasoline production quantities and cover local consumption needs in all governorates of the country.
At the end of 2025, the Iraqi government decided to stop importing gasoline, gas oil (kerosene), and white oil, as local production of these fuels had reached quantities exceeding local consumption rates.
On October 25, Prime Minister Mohammed Shia al-Sudani announced that his government had developed a plan to save the state treasury approximately $10 billion by halting imports of gasoline and oil derivatives after achieving self-sufficiency in their production within Iraq. https://economy-news.net/content.php?id=65463
Oil Spokesperson: “No Gasoline Shortage”, Affirms Daily Production Rate Reaches 30 ML
Ministry spokesperson Abdul Sahib Bazoun al-Hassnawi told the Iraqi News Agency (INA): “We deny what is being circulated in some media outlets regarding a gasoline shortage,” emphasizing that “there is no shortage of this fuel.”
He explained that “the available gasoline stock is 135 million liters, while the daily production rate reaches 30 million liters.”
He noted that “the consumption rate has increased slightly to 33.5 million liters per day due to the holiday and increased vehicle traffic and citizens going out,” clarifying that “gasoline is available at reasonable prices.”
He added that “production will stabilize in the coming days,” pointing out that “the FCC unit in Basra has begun operations, which will contribute to raising the production of high-octane gasoline to 4 million liters.”
Al-Hasnawi confirmed that “these figures represent official, approved data for February,” emphasizing “the complete stability in gasoline supplies and the absence of any crisis.”
He explained that “the staff of the Ministry of Oil, across all its departments, are working day and night to provide petroleum products to the Iraqi people,” affirming “complete control over the petroleum products sector and the absence of any shortages.” https://ina.iq/en/economy/45331-oil-spokesperson-no-gasoline-shortage-affirms-daily-production-rate-reaches-30-ml.html
U.S. Plans Initial Payment Toward Billions Owed To U.N.
The United States will make an initial payment toward the billions of dollars it owes to the United Nations in a matter of weeks, the U.S. ambassador to the world body said Friday, while stressing the need for the U.N. to continue reforms.
Mike Waltz made the comments in a telephone interview two weeks after U.N. Secretary-General Antonio Guterres sounded the alarm on U.N. finances and warned that the 193-country organization is at risk of “imminent financial collapse” due to unpaid fees, the majority of which are owed by Washington.
“You’ll certainly see an initial tranche of money very shortly,” Waltz said. “It’ll be a significant… down payment on our annual dues…. I don’t believe that the ultimate figure is decided, but it’ll be in a matter of weeks.”
U.N. officials say more than 95% of what is owed to the regular U.N. budget is owed by the United States — $2.19 billion by the start of February. The U.S. also owes another $2.4 billion for current and past peacekeeping missions and $43.6 million for U.N. tribunals.
On Dec. 30, the U.N. General Assembly approved $3.45 billion for the regular U.N. budget for 2026, following weeks of negotiations. This covers costs of running U.N. offices around the world, including the headquarters in New York, staff salaries, meetings and development and human rights work.
The U.N. funding crisis comes at a time when the United States under President Donald Trump has been retreating from multilateralism on numerous fronts. U.S. arrears to the United Nations have grown substantially during his presidency, even though America’s history of falling behind on its U.N. payments stretches back decades.
U.N. officials say the U.S. did not pay into the regular budget last year and owes $827 million for that, as well as $767 million for 2026.
On Tuesday, Trump signed into law a spending bill that includes $3.1 billion for U.S. dues to the U.N. and other international organizations.
Asked if the money he spoke of would go towards last year’s dues or those for 2026, or both, Waltz said: “just in general, towards the arrears, and also in recognition of some of the reforms that we’ve seen.”
Under Trump, as well as refusing to make mandatory payments to the U.N.’s regular and peacekeeping budgets, the U.S. has slashed voluntary funding to U.N. agencies with their own budgets, and moved to exit U.N. organizations including the World Health Organization.
Waltz said the United States was very supportive of Guterres’ UN80 reform effort and called it an important first step that needed to be continued.
“It doesn’t go far enough, but it’s an important step. I wish the secretary-general had made it in year one or two of his tenure, not year nine,” he said.
“We’re very focused… on getting back to basics, on peace and security. And… the president is rightly asking, how can we get the U.N. back to realizing its full potential?
“All of those conversations are currently being had and are in play, and we expect to see more reforms coming,” Waltz said.
“This is some tough love. The current model is unsustainable for a lot of countries, and we’re trying to get the U.N. back, fit for purpose and focused, and stop trying to do everything for everyone.”
Waltz said reducing duplication was a key aim, saying that for example, there were seven U.N. agencies with climate change as their primary mission.
“Now, regardless of the climate change debate, we don’t need seven,” he said, adding that the U.S. also supported consolidation of logistics and back offices at humanitarian agencies.
“The U.N. bureaucracy has grown too large, and needs to be much more efficient and effective,” he said.
Guterres launched his UN80 reforms last year, seeking to cut costs and improve efficiency. The approved 2026 regular budget is roughly $200 million higher than he proposed, but about 7% lower than the approved 2025 budget.
He warned last month that the U.N. could run out of cash by July and cited a “Kafkaesque” requirement for it to credit back hundreds of millions of dollars in unspent dues to states each year even if it never received the money.
Waltz Said Member States Should Change This Rule.
He said U.S. peacekeeping arrears were in part due to a “statutory disconnect” between what the U.N. assesses and U.S. law allows to be paid and added: “That’ll be addressed the next time we negotiate our assessments, which I believe is next year.” Source: Japan Times https://ina.iq/en/economy/45313-us-plans-initial-payment-toward-billions-owed-to-un.html
Central Bank: Lending Within Residential Complexes Continues According To The Approved Policy.
Economy News – Baghdad The Central Bank of Iraq clarified its lending initiatives and financing mechanisms on Sunday, confirming the continuation of granting housing and solar energy loans within residential complexes, while pointing to the financing mechanism outside residential complexes.
The bank’s director of initiatives, Rafal Hussein, said, “The Central Bank has several initiatives, including granting loans to purchase solar panels, the Housing Fund initiative, and the Real Estate Bank.”
She added that “the Central Bank continues to disburse loans within residential complexes, and they are available, and lending is in accordance with the bank’s lending policy and the instructions issued,” indicating that “the Central Bank enhances the liquidity of the Real Estate Bank and grants it according to its policy.”
She pointed out that “the financing outside residential complexes is from loans funded by recovered funds, so they are not in high categories, and when financial allocations are available and announced, applications are submitted through the (Our) platform.” https://economy-news.net/content.php?id=65466
Media Reports: First Phase Of US-Iran Negotiations Has Ended
The Iranian news agency IRNA reported that “the first phase of negotiations has concluded, during which the Iranian and American sides conveyed their views and observations separately to the Omani side.”
It added that “the second phase of negotiations will begin shortly.”
https://ina.iq/en/45296-media-reports-first-phase-of-us-iran-negotiations-has-ended.html
