Apple has launched its Tap to Pay feature in Denmark, enabling businesses to accept contactless payments directly on their iPhones without the need for traditional card terminals. This service aims to simplify payment processing for merchants and individuals.

The Tap to Pay function allows businesses to accept payments from contactless cards by simply holding the customer’s card near their iPhone. Apple emphasizes that all payment data is encrypted using the same technology used in Apple Pay, ensuring secure transactions.

In other news, a new report suggests that artificial intelligence could potentially replace 27,000 public academics by 2040. This development highlights the increasing role of AI in various sectors and its potential impact on the workforce.

The insurance and pension sector’s industry organization F&P is raising concerns about the persistently high number of Danes receiving sickness benefits. Despite the end of the COVID-19 pandemic, sickness benefit numbers have not returned to pre-pandemic levels. The reasons for this increase are unclear, but potential factors include a rise in younger people losing their ability to work and a decline in well-being among children and young adults.

Consulting firm McKinsey has reduced its workforce by over 10 percent in the past 18 months, according to the Financial Times. This reduction follows a period of significant growth during the COVID-19 pandemic, driven by strong demand for consulting services.

Tonight, microchip company NVIDIA is set to release its quarterly financial statement, which is expected to have a significant impact on the market. According to Oskar Barner Bernhardtsen, investment strategist at Saxo Bank, the financial statement will “move the entire market.” Investors are closely watching the release, as NVIDIA is a major player in AI development. Restrictions from the Trump administration on exports to China, a key market for the company, add to the anticipation surrounding the financial statement.

Additionally, new travel data indicates a decline in tourists from countries affected by Trump’s tariffs, including Canada, Mexico, Japan, and Germany. This decline could result in a substantial economic hit to the gross national product as tourist spending decreases. Concurrently, a record number of Americans are attempting to move away from the United States.

Lastly, the Danish Economic Council has criticized a political agreement to provide billions in state aid for offshore wind, echoing existing concerns about the initiative.

Market performance:

• USA (Closing Prices Tuesday): Dow Jones: +1.8%, S&P 500: +2.1%, Nasdaq: +2.5%
• Asia (Wednesday at 07:13): Japan Nikkei: +0.19%, Hong Kong Hang Seng: -0.44%, China CSI Shanghai: +0.8%