WSJ Digest Aug 4: AI Upends Consulting, Tariffs Disrupt Trade

This edition highlights five key trends: (1) Despite a low 4.2% unemployment rate, long-term joblessness hits a multi-year high; (2) A sudden M&A boom sees mega-deals flourish amid political tailwinds; (3) AI radically transforms McKinsey’s operations, triggering layoffs and new work models; (4) The US shocks Switzerland with a 39% tariff, fueling global trade uncertainty; (5) Earnings from giants like Berkshire and Boeing reveal profit strain and operational restructuring.