While AI might be driving layoffs at large firms, small businesses are on a hiring spree.

More than 80% of small businesses in the U.S. and U.K. reported benefiting from AI-related job cuts at bigger firms, a new study found, and 47% of small firms said they’d already hired an employee from a larger business following a layoff. The data is a silver lining as AI drove nearly 11,000 layoffs in the U.S. last month.

“Growth-stage companies see AI adoption as a catalyst, not a cost-cutting exercise,” said Daniele Grassi, CEO of talent solutions firm General Assembly, which conducted the study.

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President Donald Trump said he was delaying his plan to impose 50% tariffs on a range of Canadian products after the two countries reached a last-minute agreement.

ABC and parent company Disney sued the Trump administration and the FCC for allegedly waging a “retaliatory campaign” against the network after FCC head Brendan Carr threatened its broadcast licenses.

As the latest deadline to reach a peace deal in the Iran conflict expired, Iran said the Strait of Hormuz will remain closed until the U.S. agrees to its demands, leading oil prices to rise Tuesday.

Long-term treasury bond funds are down this year amid renewed inflation concerns, the federal government’s growing deficit and tech companies borrowing for AI infrastructure. Meanwhile, investors have made more........

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