Today's financial news

THURSDAY 20th JUNE

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AI reshaping banking jobs, Novo Nordisk expands factory and Guzman y Gomez soars on trading debut

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Citigroup predicts major AI impact on banking employment

Citigroup Inc. announced that artificial intelligence (AI) is likely to replace more jobs in the banking industry than in any other sector. This technology is set to revolutionise consumer finance and boost worker productivity. According to a new report released Wednesday, Citigroup found that approximately 54% of banking jobs have a high potential for automation. Additionally, another 12% of roles could be enhanced with AI technology. 

Novo Nordisk expands factory to meet drug demand

The Danish pharmaceutical giant Novo Nordisk is undertaking a significant expansion of their factory in North Carolina, USA. The project, which amounts to billions of kroner, marks an important milestone for the company's American operations. According to the Triangle Business Journal, Novo Nordisk has secured 17 building permits, covering areas ranging from 260 square meters to 25,000 square meters. This expansion is driven by the enormous demand for Novo Nordisk's popular weight loss medications, Wegovy and Ozempic, which have exceeded the company’s current production capacity.

Australian fast-food chain makes impressive trading debut 

Guzman y Gomez, the Mexican-themed fast-food chain, made an impressive debut on the Australian Stock Exchange (ASX) Thursday. Shares surged by an impressive 39.1%, soaring from an initial AU$22 to AU$30.28 per share. Founded by former hedge fund trader Steven Marks, the company's remarkable entry into the stock market reflects its growing popularity and Marks' vision to revolutionise fast food in Australia. With a valuation of 2.23 billion Australian dollars ($1.49 billion), Guzman y Gomez is poised to continue its upward trajectory.

Sources: Euroinvestor.dk, Cnbc.com, Bloomberg.com

Edith Davis