Lowdown Today: Intelligence Briefings

Developing6 Nov · 22 updates
EconomicAI: Jobs, Power & Money
AI now shows up in central banks' forecasts, risk lists and capex lines before it shows up in payrolls.
Key Developments
The Reserve Bank of Australia raised its cash rate by a quarter point to 4.85% on 3 November. Its Statement on Monetary Policy says activity was "supported by rapid growth in data centre investment" and cites "rapid growth in AI-related prices" abroad as one reason global inflation stays above targets into 2027.The Bank of Japan's Outlook Report of 30 October named "developments in AI-related demand" the second of its main risks. On 2 November, Central Bank of Ireland governor Gabriel Makhlouf flagged "the scale of the debt financing driving these investments" as a financial-stability risk.Amazon, Alphabet and Microsoft each roughly doubled capital spending in the quarter to September: $77.3bn, $51.4bn and $39.4bn. Amazon added 43,000 staff and Alphabet 5,824; Microsoft's results gave no headcount.The Office for Budget Responsibility's 28 October outlook shows output per worker in information and communication growing 7.6% a year between late 2024 and mid-2026, against 1.3% a year from early 2022 to late 2024. Professional, scientific and technical services rose to 3.7% from -0.8%.HM Treasury's Data Centre Covenant of 28 October asks developers to "create good, well-paid jobs that last beyond construction" and to fund paid apprenticeships at every site.Korea's four largest banks rehired 1,013 retirees last year, equal to 79.1% of their graduate intake, according to the Korean news agency News1 on 3 November.The Singapore Ministry of Manpower put third-quarter retrenchments at 4,800, up from 4,620 and the highest since late 2020 by press counts. It named information and communications, financial services and manufacturing, and gave business reorganisation as the main driver.The High Court of Justice of Madrid ruled in judgment 864/2026, dated 8 October and made public in early November, that introducing AI is not on its own a ground for dismissal.Challenger, Gray & Christmas reported on 5 November that market and economic conditions overtook AI as the leading stated reason for 2026's US job cuts, at 130,531 against 121,401. AI was cited for 1,265 of October's 43,994 cuts.The International Labour Organisation's 4 November brief puts ten-year output gains in a high-productivity scenario at about 5% in advanced economies and about 2.7% in low-income ones. In 2025, 17% of small firms used at least one AI tool against 55% of large ones.The Reserve Bank of Australia raised its cash rate by a quarter point to 4.85% on 3 November. Its Statement on Monetary Policy says activity was "supported by rapid growth in data centre investment" and cites "rapid growth in AI-related prices" abroad as one reason global inflation stays above targets into 2027.The Bank of Japan's Outlook Report of 30 October named "developments in AI-related demand" the second of its main risks. On 2 November, Central Bank of Ireland governor Gabriel Makhlouf flagged "the scale of the debt financing driving these investments" as a financial-stability risk.Amazon, Alphabet and Microsoft each roughly doubled capital spending in the quarter to September: $77.3bn, $51.4bn and $39.4bn. Amazon added 43,000 staff and Alphabet 5,824; Microsoft's results gave no headcount.The Office for Budget Responsibility's 28 October outlook shows output per worker in information and communication growing 7.6% a year between late 2024 and mid-2026, against 1.3% a year from early 2022 to late 2024. Professional, scientific and technical services rose to 3.7% from -0.8%.HM Treasury's Data Centre Covenant of 28 October asks developers to "create good, well-paid jobs that last beyond construction" and to fund paid apprenticeships at every site.Korea's four largest banks rehired 1,013 retirees last year, equal to 79.1% of their graduate intake, according to the Korean news agency News1 on 3 November.The Singapore Ministry of Manpower put third-quarter retrenchments at 4,800, up from 4,620 and the highest since late 2020 by press counts. It named information and communications, financial services and manufacturing, and gave business reorganisation as the main driver.The High Court of Justice of Madrid ruled in judgment 864/2026, dated 8 October and made public in early November, that introducing AI is not on its own a ground for dismissal.Challenger, Gray & Christmas reported on 5 November that market and economic conditions overtook AI as the leading stated reason for 2026's US job cuts, at 130,531 against 121,401. AI was cited for 1,265 of October's 43,994 cuts.The International Labour Organisation's 4 November brief puts ten-year output gains in a high-productivity scenario at about 5% in advanced economies and about 2.7% in low-income ones. In 2025, 17% of small firms used at least one AI tool against 55% of large ones.
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Understand Right Now
Who is Andy Challenger?
Why are US employers blaming the economy, not AI, for job cuts now?
Deep dive →Who is Donald Trump?
Why has Trump posted daily on Iran for 99 days without signing a single Iran instrument?
Deep dive →Who is Abbas Araghchi?
If the IRGC ignores Araghchi's track, what is his diplomacy worth?
Deep dive →Latest Events
Economic1 Nov
EU eyes 3 December for Quality Jobs Act
AI: Jobs, Power & Money →
Economic29 Oct
Cognizant adds 3,200 staff to 359,900
AI: Jobs, Power & Money →
Economic4 Nov
ILO: poor nations gain less from AI
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Economic5 Nov
US employers now cite economy over AI
AI: Jobs, Power & Money →
Economic4 Nov
Madrid court: AI is no ground to dismiss
AI: Jobs, Power & Money →
Economic30 Oct
Singapore layoffs rise to 4,800 in Q3
AI: Jobs, Power & Money →
Economic3 Nov
News1: Korea's big banks rehire retirees
AI: Jobs, Power & Money →
Economic28 Oct
Treasury asks data centres for good jobs
AI: Jobs, Power & Money →
Economic28 Oct
OBR shows UK tech productivity jumping
AI: Jobs, Power & Money →
Economic29 Oct
US cloud giants double capex in Q3
AI: Jobs, Power & Money →
Economic30 Oct
Bank of Japan flags AI demand as a risk
AI: Jobs, Power & Money →
Economic3 Nov
RBA credits data centres for growth
AI: Jobs, Power & Money →
Events Around the World
Last 7 days
Different Perspectives
Korea's four largest banks, as reported by News1on AI: Jobs, Power & Money
KB Kookmin, Shinhan, Hana and Woori rehired 1,013 retirees last year, equal to 79.1% of their graduate intake, according to News1. Graduates face a smaller entry intake while returners take fixed-term credit-screening roles at lower pay, News1 reports.
High Court of Justice of Madridon AI: Jobs, Power & Money
The court's employment chamber ruled in judgment 864/2026, dated 8 October and made public in early November, that introducing AI is not on its own a ground for dismissal. Employers must prove AI's effect through the four causes the Workers' Statute already lists.
Singapore Ministry of Manpoweron AI: Jobs, Power & Money
The Singapore Ministry of Manpower put third-quarter retrenchments at 4,800, concentrated in information and communications, financial services and manufacturing, with business reorganisation the main driver. Its release does not mention AI.
What’s Uncertain
The trilateral date, diesel progress and Shenzhen claim come from Ushakov alone. Lowdown found no US readout.
The tanker data show about three days without loadings. ua.news says technical work at the port or its feed pipeline may explain it; strike damage is not established.
The Air Force publishes counts, not shares. The percentages are Lowdown's arithmetic on preliminary figures.
Beglov confirmed fires at the terminal and the Ruchyi depot. Fire Point's claim that its FP-1 drones made the hits, and the 1,015 drones downed, remain unverified.
The PGSA has not said what "legal action" means, and the Korea Shipowners' Association disputes that the listed ships are Sinokor-owned. No Iranian state-media text of the notice was obtained.
The IRGC named no tanker for its 17, 22 and 29 October mine claims. UKMTO logged a vessel on fire near Khasab without giving a cause.
Only the Houthis claim a hit on Ras Tanura; neither Riyadh nor Saudi Aramco has confirmed it.
No ICE or wire settlement for 23 or 27 October was found, so this briefing makes no spot-futures premium claim. The EIA spot series is first-party.





