Instacart CEO Fidji Simo is leaving to become OpenAI's CEO of Applications. Simo, already an OpenAI board member, will transition over the next few months. OpenAI CEO Sam Altman will remain in his role, with Simo reporting to him. Simo brings extensive experience from Meta and Instacart, including...
OpenAI announced that Fidji Simo, former Instacart CEO, will lead its business and operations as Chief Executive of Applications. OpenAI CEO Sam Altman will focus on research, computing, and safety. This appointment comes as OpenAI experiences rapid growth, evolving into a global product and infrastructure company serving hundreds...
Foxconn, the maker of iPhones, will build electric vehicles (EVs) for Mitsubishi Motors. A Foxconn joint venture, Foxtron, will design and manufacture the EVs in Taiwan, with sales expected to begin in Australia and New Zealand during the second half of 2026. This marks Foxconn's first major EV contract,...
Toyota, previously boasting record profits, now forecasts a 20% operating profit decline for the fiscal year ending March. A stronger yen and President Trump's tariffs are cited as major factors. The company estimates a $1.3 billion loss from tariffs in April and May alone, with future impact difficult...
Former US President Donald Trump announced an upcoming press conference to unveil a "major trade deal" with a "big, and highly respected, country." While he offered no specifics, US media outlets suggest the deal is with the UK. This follows Trump's earlier imposition of tariffs on numerous trading...
Nvidia's stock climbed after a Bloomberg report revealed the Trump administration intends to revoke the 'AI diffusion' chip trade restrictions. These restrictions, proposed by the Biden administration, categorized countries into tiers with varying export license requirements for advanced AI chips. The rule's May 15th implementation is now reportedly...
Ford increased prices on three Mexico-made models (Mustang Mach-E, Maverick, Bronco Sport) by up to $2,000 due to President Trump's tariffs. This follows Ford's projection of $2.5 billion in added costs for 2025, partially offset by cost-reduction efforts. While Ford stated the price hikes reflect usual mid-year adjustments...
The UK and India have finalized a trade deal aimed at boosting bilateral trade by £25.5 billion annually by 2040. The agreement reduces tariffs on various goods, including clothing, whisky, cars, and food products, benefiting both countries' consumers and businesses. While the deal won't immediately impact prices, it's expected...
Disney reported a significant jump in Disney+ and Hulu profitability, reaching $336 million in operating income during the second fiscal quarter, compared to $47 million last year. This increase follows price hikes and a crackdown on password sharing, adding $6.99 for additional household accounts. Disney+ gained 1 million...
Disney reported strong Q2 2025 results, exceeding Wall Street expectations. Revenue reached $23.62 billion (up 7%), with net income at $3.28 billion. Disney+ unexpectedly added 1.4 million subscribers, boosting streaming profits significantly. The company anticipates strong growth for the fiscal year, projecting adjusted earnings per share of...
