Here are the stories making the business headlines this morning.
Klarna: AI lets us cut thousands of jobs - but pay more
The buy now, pay later firm Klarna is seeking to get rid of almost half its employees in the coming years through efficiencies it says arise out of its investment in artificial intelligence (AI).
The firm has already cut its workforce from 5,000 to 3,800 in the past year, and wants to reduce that to 2,000 employees by using AI in marketing and customer service.
Boss Sebastian Siemiatkowski told the BBC the job cuts would mean Klarna could pay its remaining workers more.
But he said the government needed to think about what to do about AI, which he predicted would have "a dramatic impact" on jobs and society.
Nvidia earnings spark rare share price fall across US tech stocks
US tech stocks are falling despite Nvidia, the chipmaker driving the artificial intelligence (AI) led stock market boom, reporting stronger than expected earnings.
The company, which has been the darling of US markets with shares up 150% this year alone, reported second quarter revenue of just over $30bn - more than double the sum achieved in the same period a year ago.
Nvidia's crucial forecast for sales in the current quarter, $32.5bn, also beat estimates but only slightly.
That may have been the catalyst for its shares suffering a rare decline in value following an earnings update.
Former Microsoft boss’ $15m superyacht spotted at Port of Aberdeen
A $15m superyacht owned by tech boss Nathan Myhrvold has berthed at the Port of Aberdeen this week.
The impressive vessel was spotted docked along Regent Quay in the North Harbour, its sleek design standing out against other larger work vessels docked.
Named Teleost the 160ft yacht was built in 1998 at a cost of $15m by renowned shipbuilders Feadship.
The interior is tastefully decorated and incorporating the 90s aesthetic with plush furnishings and dark wood panelling.
London-listed banks fall on tax fears
Investors took fright at reports that the government could raise taxes on UK banks, sending their shares sharply lower.
NatWest and Barclays were among the biggest fallers in the FTSE 100, with their shares down 3.3% and 2.7%, respectively, wiping hundreds millions of pounds each from their stock market values.
Shares in Lloyds Banking Group, Britain’s biggest mortgage lender, dropped as much as 3.3% at one point during the day before paring some of the losses to close down 1.7%.
The spectre of higher taxes on the banking sector was sparked by the prime minister when he said in a speech from Downing Street’s rose garden on Tuesday: “There’s a budget coming in October and it’s going to be painful… Those with the broadest shoulders should bear the heavier burden.”