Meta said Thursday it would cut about 8,000 jobs, or roughly 10% of its workforce, as the company pushes further into artificial intelligence spending while trying to improve efficiency. The company said the reductions are meant to free up resources for new investments in other parts of the business. Bloomberg also reported that Meta plans to leave about 6,000 positions…
Federal Reserve Chairman Jerome Powell reiterated on Tuesday the central bank’s intention to maintain current interest rate levels, emphasizing patience in assessing the impact of recent tariffs and broader economic indicators. Powell’s remarks, delivered before the House Financial Services Committee, came as a direct counter to calls by former President Donald Trump for immediate rate cuts to stimulate economic growth.…
Cautious Optimism Holds as Conflict Fails to Rattle Wall Street Wall Street opened the week with little sign of alarm after a major U.S. military operation targeted three Iranian nuclear facilities over the weekend. While such an escalation might typically send shockwaves through global markets, the reaction on Monday remained remarkably subdued across equities, oil, and bond markets. The U.S.…
Paris-based music streamer Deezer will begin tagging albums that contain songs made wholly or partly with generative AI. Listeners will see a prominent “AI-Generated Content” notice and an alert explaining that some tracks were produced by song-generator tools. The move comes after the company detected a surge in artificially created uploads designed to siphon royalty payments. Executives argue the labels…
Beijing Emerges Strategically Stronger After London Talks China has walked away from the latest US trade negotiations with renewed confidence in its geopolitical leverage, particularly around critical mineral exports. The agreement, described by Washington as a deal “done,” is in fact a return to the stalled truce previously reached in May. Yet the political and economic dynamics have shifted. China…
Amazon is sending a clear signal that its driver-less ambitions are no longer an R&D side hustle. The company has opened a 220,000-square-foot factory in Hayward, California, to build Zoox robotaxis at scale, laying the groundwork for a nationwide ride-hailing network and a head-to-head fight with Alphabet’s Waymo. An Ambitious Bet On Purpose-Built Cabs Amazon bought Bay-Area startup Zoox for…
As the gangway lowers at the Port of Hong Kong, the crew swiftly secures the massive ONE Modern vessel. Dwarfed by the towering pink container ship, workers in orange jumpsuits begin the intricate process of unloading and reloading more than 700 containers in under 10 hours. This scene plays out daily as companies worldwide race to navigate the latest chapter…
