European markets are projected to open higher today, with the FTSE 100, DAX, CAC 40, and FTSE MIB all showing positive futures. This follows a mixed day Wednesday, particularly in the UK, impacted by political pressures. US stock futures are little changed, awaiting June's nonfarm payrolls data. Meanwhile,...
Several CEOs are issuing increasingly dire predictions about AI's impact on jobs. Anthropic's Dario Amodei warned of 50% entry-level job losses within five years, potentially raising US unemployment to 20%. JPMorgan, Amazon, ThredUp, and Ford executives have also voiced concerns, with some predicting significant workforce reductions due to...
Microsoft's recent layoffs impacted Halo Studios, resulting in at least five employees being fired. The cuts, part of a larger 9,000-person reduction across Microsoft, are attributed to increasing "agility and effectiveness." The layoffs follow previous job cuts at Halo Studios (formerly 343 Industries) in 2023 and occur...
Microsoft's gaming division announced significant layoffs, impacting its Stockholm-based King division (around 200 jobs) and other European offices. US offices were notified later. CEO Phil Spencer cited the need to prioritize strategic growth areas, resulting in the cancellation of games like Everwild and the closure of The Initiative...
Tesla's Q2 vehicle deliveries dropped 13.5% year-over-year to 384,122, missing analyst expectations. This marks a continued sales decline, attributed to Elon Musk's controversial political stances and an aging vehicle lineup. While a cheaper Model Y is anticipated, analysts predict a second consecutive annual sales decrease. Tesla's robotaxi...
Amazon is offering early Prime Day deals with discounts of 50% or more on various products. Deals include smart home devices like Kasa smart bulbs and Echo Pop Kids, kitchen appliances such as the KitchenAid oven mitts and Instant Pot, electronics like Anker Soundcore earbuds and Insignia Fire TV,...
Microsoft is conducting another round of layoffs, affecting multiple teams globally, including sales and Xbox. While the exact number remains undisclosed, it's estimated to be around 9,000 employees, representing less than 4% of its workforce from last June. This follows a similar layoff of 6,000 employees in May and...
Silicon Valley is experiencing a fierce competition for AI talent, with Meta leading the charge. Top AI engineers and researchers are receiving multi-million dollar compensation packages, causing FOMO among those not receiving such lucrative offers. This unprecedented bidding war is driven by a shortage of skilled AI professionals...
Scooter Braun is transitioning from CEO of HYBE America to a senior advisory role on HYBE's board of directors. This follows a five-year plan initiated with the 2021 sale of Braun's Ithaca Holdings to HYBE. He will remain involved in current projects and continue advising artists. Isaac...
Asia-Pacific markets showed mixed results Tuesday, reacting to Wall Street's record highs and uncertainty surrounding expiring US tariffs. While some markets like South Korea's Kospi saw gains, others such as Japan's Nikkei experienced losses. China's manufacturing PMI exceeded expectations, while US Treasury Secretary Scott Bessent hinted at potential...
