GM Cuts IT Jobs As AI Reshapes Workforce
Layoffs Hit Technology Teams General Motors laid off about 500 to 600 employees on Monday, largely affecting information technology roles in Austin, Texas, and Warren, Michigan. The cuts come as the Detroit
Disney Rises As New CEO Outlines Strategy
D’Amaro Sets A Clear Direction Walt Disney shares rose nearly 8% in early trading after new chief executive Josh D’Amaro outlined his strategy for the entertainment group. Speaking on his first earnings
Spirit Shutdown Empties LaGuardia Terminal
A Sudden Collapse Hits Terminal A The abrupt shutdown of Spirit Airlines has left LaGuardia Airport’s Marine Air Terminal nearly deserted, turning one of New York’s most historic aviation spaces into a
OpenAI Signs $38B AWS Deal, Breaking Microsoft Exclusivity
Massive AI infrastructure shift underway OpenAI has inked a $38 billion agreement with Amazon Web Services (AWS), marking a major expansion of its cloud partnerships and the end of its previous exclusivity
Amazon Cuts Jobs as It Expands AI Investment Plans
Job cuts come despite strong profits and rising AI investment Amazon is laying off tens of thousands of employees even as it posts strong financial results and ramps up artificial intelligence investments.
Citigroup Names Jane Fraser Board Chair and CEO
Fraser Consolidates Power with $25M Stock Bonus Citigroup’s board has appointed CEO Jane Fraser as chair, awarding her a restricted stock bonus valued at $25 million alongside additional stock options. The decision
HSBC invests £10bn to take Hang Seng private
Strategic move to deepen ties with Asia HSBC will spend £10 billion to buy out the remaining 36.5% of shares in its Hong Kong subsidiary, Hang Seng Bank, effectively taking the bank
GM cancels EV tax credit plan after policy pressure
Program aimed to extend $7,500 lease credit post-deadline General Motors has scrapped a plan that would have allowed its dealers to continue offering the $7,500 federal tax credit on electric vehicle (EV)
OpenAI Closes $6.6B Stock Sale at $500B Valuation
Employees cash out as OpenAI becomes most valuable private firm OpenAI has completed a $6.6 billion secondary share sale, allowing eligible current and former employees to sell equity at a record-setting $500
CoreWeave Surges on $14.2B AI Cloud Deal with Meta
Meta taps CoreWeave for Nvidia-powered AI infrastructure CoreWeave (CRWV) stock jumped nearly 12% after the company revealed a massive $14.2 billion multi-year cloud services agreement with Meta (META). The Nvidia-backed AI data
EA to Be Taken Private in Record $55B Buyout Deal
EA agrees to historic leveraged buyout Electronic Arts, the gaming giant behind franchises like “Battlefield” and “Madden NFL,” is set to go private in a massive $55 billion deal — the largest
Citi Sells 25% of Banamex to Mexican Tycoon
Strategic move ahead of Banamex IPO plans Citigroup has reached an agreement to sell a 25% stake in Grupo Financiero Banamex to a firm owned by Mexican billionaire Fernando Chico Pardo and
Pfizer to Buy Metsera in $7.3B Obesity Drug Push
Deal signals major move into booming weight loss market Pfizer announced Monday that it will acquire obesity drugmaker Metsera in a deal worth up to $7.3 billion, marking a significant move to