Trump, Seoul Struggle Over Investment Terms

 

President Donald Trump in Gyeongju to press a trade deal with South Korea, but talks are slowing over his demand for $350 billion in U.S.-bound investment. Seoul prefers loans, guarantees and a currency swap line, saying a direct cash injection could destabilize its economy. The impasse contrasts with pledges of...

Microsoft tops $4 trillion after OpenAI deal

 

Microsoft closed up 2% at $542.07, lifting its market value to $4.04 trillion and returning it to a small club that includes Nvidia—and briefly, on Tuesday, Apple. The gain followed OpenAI’s move to convert into a public benefit corporation after Delaware and California attorneys general said they would not oppose...

Stocks Hit Records as AI Rally Builds

 

Stocks notched records Tuesday as investors crowded into the AI trade ahead of the Federal Reserve’s rate decision. S&P 500, Nasdaq, and Dow set all-time intraday highs, with Nvidia jumping about 5% after unveiling moves at its GTC event, including a $1 billion stake in Nokia to help fund its...

Amazon, UPS, Target layoffs signal job-market shift

 

After months of a 'no hire, no fire' job market, sweeping cuts at Amazon, UPS and Target are shifting the tone. Amazon will cut 14,000 jobs as it leans into AI; UPS says its workforce is down 48,000 from a year ago; Target plans 800-plus Minnesota layoffs amid a wider...

Amazon to Cut Thousands, Citing AI Upheaval

 

Amazon will cut thousands of corporate jobs, blaming AI's rapid shift, according to a memo from SVP Beth Galetti. The move, despite strong profits, aligns with layoffs at Salesforce (4,000), Lufthansa (4,000) and Chegg (45% of staff, 388 roles) tied to efficiency claims and strategy changes. Experts told ABC News...

Airlines Feed Controllers Amid Shutdown Strains

 

On Day 28 of the shutdown, air traffic controllers missed their first full paychecks, and airlines brought food. United is donating meals at hubs including Chicago, Denver, Houston, Los Angeles, Newark, San Francisco, and Washington, D.C.; Delta and JetBlue are arranging limited meals with federal partners. At LaGuardia, Transportation Secretary...

Amazon Halts Significant MMO Development, Refocuses Games Strategy

 

Amid Amazon’s elimination of 14,000 corporate workers this week, the company is reshaping its games division, halting a significant amount of first-party AAA development focused on MMOs and cutting roles in Irvine, San Diego, and its central publishing team. A memo from games chief Steve Boom frames the move as...

Nvidia to Invest $1 Billion in Nokia

 

Nvidia plans to invest $1 billion in Nokia, taking a 2.9% stake as the Finnish company shifts from mobile networking kit toward artificial intelligence. Nokia will issue about 166 million shares to Nvidia at $6.01 each, the companies said Tuesday. Nvidia’s chips will accelerate Nokia’s software for 5G and 6G...

AMD quietly rebrands older Ryzen laptop chips

 

AMD has quietly reassigned model numbers to a range of Ryzen laptop chips without altering the silicon, adding fresh labels to 2022-vintage parts. The rebranded processors use Rembrandt‑R (Zen 3+ CPU, RDNA 2 graphics) or Mendocino (Zen 2, RDNA 2), with Rembrandt‑R marking its second rename since debuting as Ryzen...

UPS beats estimates, shares jump on turnaround

 

UPS topped Wall Street expectations ahead of the holidays, sending shares up 10% premarket. The company posted adjusted EPS of $1.74 on $21.4 billion in revenue, and net income of $1.31 billion, down from $1.99 billion a year ago. UPS detailed a sweeping turnaround: 34,000 job cuts, reduced Amazon work,...