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BNP Paribas Google Cloud Deal

The French banking group leverages Google Cloud and Gemini AI to streamline operations and drive returns.

French banking giant BNP Paribas SA is tying its artificial intelligence investments to well-defined financial targets, most recently projecting $853 million in value creation through its newly announced partnership with Google Cloud.

The assigned value is not always fully declarative, said Marc Camus, group chief information officer of BNP Paribas, during a Sept. 24 press conference. 

“There is a finance committee which will use different submissions from the different entities and functions. There is a check and challenge by the finance function on these value creation figures. And when I say value creation, it does not necessarily mean cost savings. It can be revenue generation, for instance, through pricing optimization techniques. It can indeed be pure cost savings by optimizing processes.”

“The bank views AI as a P&L,” said Charles Holive, managing director and chief AI officer for BNP Paribas’s corporate and institutional banking business. ”Every program we decide on, especially the big transformation ones, is tied to specific financial targets. Those could be revenue, could be cost savings or risk avoidance.” 

Google Cloud

Under the terms of the five-year deal, the bank will have access to Google Cloud—the cloud computing division of Google parent Alphabet Inc.—and Gemini Enterprise’s library of more than 200 open-source AI models, which BNP Paribas can develop into purpose-built AI agents.

“This technology pairing is going to be supported by a group-wide AI enablement program, and that’s covering everything from foundational AI literacy right through to specialized agent development,” said Georgina Bulkeley, managing director and global industry lead of financial services at Google. “It’s a really important cultural aspect of these kinds of partnerships.”

Early deployments target BNP Paribas’s CIB business, which has extended AI access to its 65,000 employees, focusing on middle- and back-office processes like credit memo generation and improving the know-your-client processes.

The announcement comes four months after BNP Paribas inked a three-year extension to a 2024 groupwide agreement with Mistral AI to design and develop generative AI offerings based on the vendor’s large language models that meet the bank’s operational and regulatory requirements.

Camus said that this was clearly in line with what BNP Paribas has been doing in the past few years. “We don’t necessarily stick with just one partner,” he explained. “Depending on the use case we are working on and depending on the business requirements, we will go for some on-premises solutions and some public cloud solutions.”

Reallocating Human Capital

Camus said that the agreement may lead to some change in headcount within the bank, but that has been an ongoing result from implementing process automation for many years. The bank, however, looks to bulk up its workforce with more AI and data experts, he added.

“We need to invest in the workforce in these areas,” said Camus. “There is also a need for change management in a number of teams. For example, IT developers need to get used to working with AI agents.”

Rob Daly covers economics and fintech. Contact him at rdayly@gfmag.com.

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Bessent pulls the plug on AI czar rumors (XT:NASDAQ)

AI Hand Analyzing Financial Data Graphs for Business Strategy

J Studios

Treasury Secretary Scott Bessent said he does not expect to become President Donald Trump’s new AI czar, pushing back on reports that had identified him as a leading candidate for the newly proposed role.

Asked on Fox News whether Trump

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By the Numbers: Key Trends Driving Private Lending, Finance Talent, and Global Shipping

Key data points tracking shifts in private credit, finance talent, and global shipping costs.

This article appears in the September 2026 issue of Global Finance Magazine.

Each month, Global Finance readers can look forward to our “By the Numbers” feature: A spotlight with key industry metrics that highlight a market in transition. This edition brings you three charts: a break down the numbers driving strategic moves across private lending, corporate talent, and global trade.

US Private Credit Lender Leaderboard for Q2 2026

Despite a significant drop in deal volume from the previous quarter, driven by higher financing costs, interest-rate uncertainty, and a possible AI-driven market correction, direct lenders are still finding opportunities.

Audax led the field by a wide margin, closing 62 deals in the second quarter — 16 more than second-place TPG Twin Brook (46) and 19 ahead of MidCap Financial (43), according to 9fin data. That gap at the top suggests deal flow is concentrating among a handful of active lenders even as overall volume contracts.

Audax led the field by a wide margin, closing 62 deals in the second quarter — 16 more than second-place TPG Twin Brook (46) and 19 ahead of MidCap Financial (43), according to 9fin data. That gap at the top suggests deal flow is concentrating among a handful of active lenders even as overall volume contracts.

Apollo (37), Churchill (36) and Barings (34) formed a tightly bunched second tier, each within three deals of the next. Apogem (32), Blackstone (30), Monroe (27) and Jefferies Credit Partners (25) rounded out the top 10.

Smaller, middle-market-focused shops like Audax and Twin Brook outpaced Blackstone this quarter despite its scale, making the firm’s eighth-place finish notable. Lenders with flexible mandates—rather than the biggest balance sheets—will likely keep writing checks amid higher financing costs and rate uncertainty.


The Finance Workforce Evolution 2024 – 2030

Gartner projects traditional finance talent will shrink to 20% of the workforce, while dedicated digital finance talent grows to another 20% — and 60% of the workforce will be made up of "nondedicated" digital finance talent, employees who blend finance expertise with data, automation and technology skills rather than fitting neatly into either camp.
Source: Gartner

Gartner reports that traditional talent still overwhelmingly staff today’s finance function, with 85% holding conventional backgrounds and just 15% dedicated to digital skills. That balance will flip within four years.

Gartner projects traditional finance talent will shrink to 20% of the workforce. Dedicated digital finance talent will likely grow to another 20% — and 60% of the workforce will be made up of “nondedicated” digital finance talent, employees who blend finance expertise with data, automation and technology skills rather than fitting neatly into either camp.

The shift means the finance department of 2030 will look less like a roomful of accountants and more like a hybrid team built around technology fluency, with only one in five employees carrying a purely traditional finance profile.


Dry Bulk Shipping Market Growth

Increased geopolitical risk, fuel costs, insurance premiums, and operating expenses are fueling a steady growth in shipping costs for the foreseeable future.

Increased geopolitical risk, fuel costs, insurance premiums, and operating expenses are fueling a steady growth in shipping costs for the foreseeable future

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FBI case widens against fake NFL player who allegedly defrauded women

Love is the name. Fraud allegedly was his game. And the list of his victims — several of whom said they became romantically involved with him — continues to grow.

Daejon Labrayae Love, 35, and his accomplice Taylor Jamie Chan, 18, remain in federal custody after their arrest Aug. 24 in Boise, Idaho, on wire fraud and conspiracy to commit wire fraud charges. The FBI charged the two men with scamming at least 26 women in four states out of at least $1.3 million.

Since then many more women have come forward to say they were victims of Love’s schemes, which often involved him impersonating a San Francisco 49ers player. The FBI said it has identified 35 additional women who say they were defrauded, ratcheting up the number of alleged victims to more than 60.

The latest development is especially troubling. A woman told ESPN on Tuesday that she submitted a complaint about Love on the 49ers website eight months ago on Dec. 20, 2025, yet the team apparently did little with the information.

Gwen Herndon submitted a complaint/concern form, writing “there is a federal investigation surrounding a man pretending to be a 49ers player.” She named Love, saying he stole money from women.

“I wanted you to be aware of the situation and are hopefully proactive in denouncing his involvement on your team,” she wrote in the message, which was reviewed by ESPN.

Herndon said the only response she received from the 49ers came from a Levi’s Stadium guest services account a week after her report, encouraging her to contact law enforcement agencies with the information.

“We take reports of individuals misrepresenting themselves as members of the San Francisco 49ers very seriously,” the 49ers response said. “For safety and legal reasons, the team cannot comment on ongoing investigations or specific individuals…. Our internal team will also monitor any instances of impersonation and take action as appropriate to protect fans and the team’s reputation.”

A 49ers spokesperson declined to confirm that Herndon’s email was viewed by team officials, citing the ongoing FBI investigation.

Federal investigators, meanwhile, are working to verify that the 35 women who have come forward in recent days are in fact victims of Love and Chan, Portland FBI Special Agent in Charge Doug Olson said in a news conference.

“We were surprised how many people were victimized in such a short period of time and then to have that many more come forward,” Olson said. “It’s a large volume for just a couple of subjects. Our concern is that this fraud could be replicated by other individuals that are out there victimizing other people in similar schemes.”

The FBI alleges that from February 2022 until they were arrested, Love and Chan fraudulently solicited money from women in California, Oregon, Washington and Idaho.

Love portrayed himself on Instagram as a 49ers wide receiver who went undrafted but worked his way onto the roster. He met many of the women through dating apps and developed romantic relationships with several, according to the FBI. Chan falsely posed as Love’s financial adviser.

In an Instagram Story titled “NFL Journey,” Love held a 49ers helmet while driving and said, “I’m on my way to get my mom. I know I get a lot of fans who want to know how football works or how I got involved in the league…. If you know me and see me in person I’ll explain.”

Experts on interpersonal relationships say that a person can instantly assume someone is trustworthy who exudes warmth and confidence as a first impression — especially if they find the person attractive.

“When we meet someone for the first time, our brains are quietly trying to answer two big questions: Can I trust this person, and do they seem capable and confident?,” said Tammi Pickle, an executive at the personalized matchmaking agency Elite Connections. “Someone who comes across as confident might suddenly seem smarter, kinder, more successful and even more trustworthy simply because of the way they carry themselves.

“When we are attracted to someone, our brains have a tendency to fill in the blanks with positive assumptions. The catch? Those assumptions aren’t always accurate.”

Love quickly gained the trust of dozens of women, allegedly convincing them to give him large sums of money. The FBI said Love instructed several women who did not have cash to invest to take out personal loans, assuring them they would quickly be repaid.

“The scheme relied on Love’s creation of fictitious personas and display of a lavish lifestyle which Love presented to victims both in person and on social media websites,” federal authorities said in a press release.

“Chan and Love also hosted three-way FaceTime calls in which they showed victims falsified investment gains and encouraged victims to part with their money. Victims sent Love and Chan money due to their belief that their money would be invested in legitimate investment vehicles on the victims’ behalf.”

One women who didn’t fall for Love’s scheme told KPTV in Oregon that she went on a 2024 date with him in 2024 after meeting on a dating app. He told her his name was John Prince and claimed he was a Swiss real estate developer.

Anderson said his behavior during their first date raised suspicion.

“He said, ‘I’m very intentional and efficient when it comes to dating, and if I pursue you, you will be the only one I pursue. I need someone who has been around money, who understands that, you know, these things aren’t luxuries to me. This is just my normal life.’

“Within five minutes, I decided I wasn’t gonna see him again.”

Love also manipulated AI. Search engines and AI rely on web scraping and frequency of mentions, and the sheer volume of his fake posts caused AI to mistakenly identify him as an NFL wide receiver. He showed screenshots of erroneous AI search summaries to alleged victims, convincing them he was worthy of their trust.

On an Instagram story, he posted a one screenshot of a webpage AI Overview that says “Daejon Love is a wide receiver for the San Francisco 49ers and information about his position, contract and teammate texting habits is available online. He is also associated with the team in various social media content and articles.”

Love then turns the camera on himself and says, “That’s Google. That’s not me, that’s Google.”

He goes on to explain why he isn’t currently playing, lifting a crooked finger to the camera and saying he is injured. He concludes the story by again saying he wants “full transparency” because “people ask, what do I do? How can I afford a $500,000 car? How can I afford a $300,000 [Lamborghini] Urus? “

He says that he is driving to pick up his mother, then concludes by inviting those watching to reach out to him in person.

In the month before his arrest, Love traveled to New Mexico, California, Oregon, Nevada, Utah and Idaho to meet with women, according to investigators. He allegedly used several fictitious names, including Jon Love, Avril Lyto Love and Jordan Love.

The romp abruptly ended at the Boise airport when Love and Chan were removed from a white sports car by federal agents, according to a video obtained by TMZ. Love appears to be wearing red Niners gear as he is handcuffed.

“Victims were encouraged to take out personal loans and make life-altering financial decisions based on the belief they were building a future with someone they cared about,” said Olson, the FBI special agent. “Once the money was taken, the victims were cut off, left without answers, without funds, and often without closure. Many lost not only their savings, but their sense of security and confidence.”



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