Barclays to Cut 5K Jobs, AI Trade Stumbles After Tech Earnings
Barclays said it’s cutting 5,000 jobs as part of an effort to reduce costs, adding that artificial intelligence is starting to create efficiency. That would affect about 5% of the bank’s employees, according to a presentation on Thursday. Barclays employed about 93,000 people globally at the end of 2025.
Stocks fell as megacap earnings failed to reassure investors about the rebound in the artificial intelligence trade, Chinese equities neared a bear market and escalating Middle East tensions drove oil prices higher.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade Starts: Markets Brace for Tech Earnings, Oil & European Open
00:01:15 – The Agenda: Meta and Tesla Earnings Divide the Tech Trade
00:03:12 – The Agenda: Oil Climbs as Saudi Attacks Raise Geopolitical Risks
00:05:11 – Breaking News: Barclays and Hermès Earnings in Focus
00:07:14 – Roche CEO Thomas Schinecker on Earnings, Innovation and Europe, Roche’s Cancer Drug Pipeline and Growth Potential
00:16:45 – French Bond Yields Hit 5% as Fiscal Concerns Mount
00:16:52 – Allspring Global Investment’s Henrietta Pacquement on French Bond Yields Hit 5% as Fiscal Concerns Mount, European Futures Slide Ahead of the Open
00:25:32 – SAP CFO Dominik Asam on Cloud Growth and AI Transformation, Europe Needs Less Regulation to Compete in AI
00:32:53 – Meta’s AI Investment and Tesla’s Capex Concerns, IBM and Texas Instruments Earnings
00:37:36 – Jensen Huang: Europe Needs to Embrace AI
00:38:50 – MLIV: Global Markets Sell Off as Investors Seek Safety, Alibaba Slides Amid China Regulatory Concerns
00:42:30 – Stock to Watch: Barclays, Nokia and Roche
00:45:47 – European Markets Open Lower
00:50:45 – Barclays Earnings Disappoint as Fixed Income Revenue Drops, Barclays Cuts Jobs as AI Drives Efficiencies
00:54:58 – European Tech and AI Earnings in Focus
00:59:21 – Market Movers: Hermès Tumbles on China Weakness and French Unrest
01:02:12 – Goldman Sachs’ Sharon Bell on the European Tech Trade, Where to Invest as European Growth Slows, FTSE 100 Outlook and the Impact of a Weaker Currency
01:11:15 – European Stocks Fall as Energy Outperforms
01:13:26 – Need to Know
01:14:16 – Morgan Stanley’s Amy Gower on Copper, AI and the Global Metals Outlook Indonesia’s Aluminum and Nickel Supply Boom
01:21:10 – Saudi Attacks Push Oil Prices Higher
01:25:30 – Hermès Hit by China Weakness and French Unrest
01:29:43 – What’s Driving Market Nervousness, French Bond Spreads Surge Contagion Risks Across European Debt Markets
01:34:09 – European Markets Remain Under Pressure
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