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Chapter 1: What is the main topic discussed in this episode?
Hi, I'm Kim Vinnell in Whanganui, New Zealand. It's Thursday, February 5th. Today, Trump pulls 700 ICE agents out of Minnesota. We look at how much of a risk AI is to the jobs market. Savannah Guthrie makes an emotional plea for her mother's return.
Chapter 2: Why did Trump withdraw 700 ICE agents from Minnesota?
And the U.S.-Russia nuclear pact expires at a tricky time. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week. I have announced effective immediately. We will draw down 700 people effective today. U.S. Borders Czar Tom Homan in Minneapolis announcing a reduction in ICE and Border Patrol agents in Minnesota.
Chapter 3: What impact does AI have on the job market?
The move will still leave some 2,000 agents in the area. Hohmann says the drawdown comes alongside greater cooperation from local authorities. One of the demands Hohmann had made is for local authorities to let ICE into prisons. Our reporter Maria Svitskova in Minneapolis says that's been agreed to.
We don't know the exact extent of this cooperation, but we know that ICE wants to access jails and specifically immigrants who are being released from jails.
Chapter 4: What emotional plea did Savannah Guthrie make regarding her mother?
And he claimed that access was given to get to the people in custody before they hit the streets. Minnesota says its state-run prison system already gives ICE everything the law requires. The Department of Corrections notifies ICE any time it takes in someone convicted of a felony who isn't a US citizen.
And when ICE sends a detainer request, asking the prison to hold onto someone so federal agents have time to pick them up, Minnesota says it complies. But that cooperation looks different at the local level.
Chapter 5: What are the implications of the U.S.-Russia nuclear treaty expiration?
County sheriffs run the jails, and only a small fraction of Minnesota's counties have formal agreements with ICE. Some sheriffs argue that letting federal agents inside their jails can make immigrant communities less willing to report crimes. The Supreme Court has ruled that California can use a new congressional map.
The decision gives Democrats five more potential seats, offsetting the five red seats added by Texas's new map, also approved by the Supreme Court last year. It's a major victory for the Democrats as they look to win back control of the House in the November midterms. to markets now and the big tech sell-off we saw this week. Here's MorningBid host Mike Dolan with the latest.
Yeah, tech sector volatility is continuing right through the night and into Thursday's trading, despite an astonishing plan by Alphabet to more than double its capital expenditure in 2026, which is more than 50% above what people had expected it to do. Its stock is still down ahead of the bell.
So the whole AI story has raised the question this week, is it good for the stock market or does it disrupt as many companies as it benefits? Thanks, Mike. And you can listen to Morning Bid wherever you get your podcasts. That AI-fueled stock sell-off is once again raising questions over whether this transformative technology poses an existential threat to the jobs market.
And some of the latest figures from Europe are looking into just that. Mark John is our European economics editor. So I think we have to say that so far, any impact is really showing up more in smaller surveys rather than the actual official unemployment numbers.
But that said, there is increasing evidence of firms slowing down the hiring because they believe there will be some kind of productivity payoff from AI-driven automation. And last week, we had the head of the Federal Reserve in the US, Jerome Powell, who said that there could be a link between the rise of AI use
And what they've seen is a lower hiring rate among recent college graduates in the US. We've also seen a number of companies that have actually cited AI adoption or future AI adoption as one of the reasons behind some big layoffs recently. For example, Amazon, Lufthansa, and so on.
what i think a number of experts are questioning at the moment is to what extent ai really is one of those factors or is it in some cases being used almost as a pretext to shed staff after the kind of the over hiring that we saw sometimes during the covid pandemic The Washington Post, owned by Amazon founder Jeff Bezos, has announced it will move ahead with widespread layoffs.
In a call with staff, the Post's executive editor said that one-third of employees would be let go. That includes lots of sports reporters and foreign correspondents. Bezos bought the paper back in 2013, but has struggled to make it profitable. In a statement, the Post's union wrote that if Bezos would no longer invest in the paper, then, quote, the Post deserves a steward that will.
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