American Express to Cut 5% of Jobs as It Prepares for AI
American Express plans to cut about 5% of its workforce as it prepares for AI, joining Barclays and Netflix in a broader push to reshape staffing.
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Latest Business News
Ronaldo Is First Active Athlete to Earn $2 Billion, Forbes Says
Forbes estimates Ronaldo has surpassed $2 billion in career pretax earnings and projects $300 million this season, distinct from his $1.2 billion net worth.
Inside Musk’s Empire: What a Tesla–SpaceX Merger Would Really Combine
Tesla, SpaceX, xAI, X, Neuralink and Boring form a connected business universe. A merger would reshape its ownership and the financing risks investors carry.
Apple Launches iPhone Duo Worldwide After AAPL Hits Record High
Apple begins worldwide iPhone Duo sales after AAPL reached a record $348.36, putting demand for its $1,999 foldable and holiday deliveries in focus.
British Retail Sales Fall 0.4% as Warm Weather Hits Clothing
British retail volumes fell 0.4% in September as clothing and supermarket sales weakened, although sales still rose 0.7% across the third quarter.
Western Digital Revenue Jumps 55% as Dividend Rises 17%
Western Digital reports $4.38 billion in quarterly revenue, lifts its dividend 17% and forecasts up to $5.2 billion in sales for the next quarter.
SpaceX Faces Higher Rates on $40 Billion Debt Deal as AI Fears Grow
SpaceX is reportedly finalizing $40 billion in financing, with one portion near 8.3% and chip-backed debt around 7.75% as AI credit concerns grow.
OpenAI Nears $30 Billion Funding Round at $1.25 Trillion Valuation
UAE investors and Coatue are reportedly leading an OpenAI financing of up to $30 billion at a $1.25 trillion pre-money valuation ahead of a potential IPO.
a16z Crypto Rebrands as Frontier, Expands Into AI and More
Chris Dixon confirms a16z Crypto is becoming a16z Frontier, broadening its investment remit while maintaining its commitment to crypto and existing portfolio companies.
Barclays to Cut 5,000 Jobs as AI Reshapes Its Cost Base
Barclays plans 5,000 job cuts this year, with 4,000 still to come, as AI adoption and restructuring accompany higher profit and a £500 million buyback.
Meta Ordered to Pay $25 Billion in New Mexico Privacy Case
Meta faces a $25 billion New Mexico penalty over misleading Facebook privacy claims, with 15% annual interest and an appeal planned.
DeepSeek Raises $15 Billion With Tencent and CATL Backing, Report Says
DeepSeek reportedly raises $15 billion from investors including Tencent and CATL to expand data centers and open models, while preparing for an IPO.