Opinion: AI needs rules and standards, or it may end up being more risky than profitable
As a software industry CEO, I am excited about the power and potential of AI. Yet AI could go from a rising tide that lifts all boats to a perfect storm of unmanageable risk unless it is given effective guardrails and governance. With the surge in generative AI applications this year, executives in every boardroom are […]
Shippers divert $35 billion in cargo from Red Sea
So far, shippers have diverted about more than $30 billion worth of cargo away from the Red Sea as they face the threat of attacks from Houthi militants in Yemen. Carriers are re-routing vessels as a direct result of 15 strikes in the Middle Eastern body of water since the start of the Israel-Hamas war […]
FedEx (FDX) earnings 2Q 2023
A FedEx plane lands at Shanghai Pudong International Airport in Shanghai on April 27, 2023. Vcg | Visual China Group | Getty Images FedEx shares tumbled 8% in after-hours trading Tuesday after the package delivery giant lowered its revenue forecast as weaker demand hit sales. The company said it expects a low-single-digit decline in revenue […]
Can you still buy an Apple Watch 9? Here’s what to know.
Apple Inc. AAPL, +0.54% confirmed that it will no longer sell its Apple Watch Series 9 and Apple Watch Ultra 2 as a preemptive move to comply with an upcoming U.S. import ban on the products’ blood-oxygen sensors. Here’s everything you need to know about the Apple Watch sales halt: When does the halt go […]
Media, telecom companies face rough 2024
The Grinch Source: Universal Studios It’s human nature for a new year to bring optimism and hope. For executives, investors and employees in the entertainment and telecommunications industries, 2024 is set to disappoint. Maybe that’s too grinchy. Some things will get better. The actors’ and writers’ strikes are over. The 2024 U.S. presidential election should […]
Dow up 200 points, S&P 500 eyes record as interest rate-cut hopes underpin sentiment
U.S. stocks are maintaining their upward momentum Tuesday, with the S&P 500 index just shy of its record as investors keep cheering the chances of Federal Reserve rate cuts next year and an economy that keeps chugging. On Monday, the Dow DJIA eked out another record close, while the S&P 500 SPX gained 0.5% and […]
Theft and crime higher nearby
Target’s shuttered small-format store on Folsom Street in San Francisco’s SoMa neighborhood, November 2023. Gabrielle Fonrouge On Sept. 26, Target set off a national firestorm when it said it would close nine stores in four states because theft and organized retail crime had made them too dangerous to run. On its face, Target’s announcement was […]
Hermès heir’s bid to adopt his 51-year-old gardener sparks battle with charity for €12 billion inheritance
A childless heir to the Hermès empire is seeking to adopt his middle aged gardener with a view to cutting ties to the charity he founded and leaving him the bulk of his €12 billion ($13 billion) fortune instead. Nicolas Peuch, 80, who owns a 5.7% stake in luxury fashion house Hermès, is undergoing the […]
Southwest fined $140 million for last year’s holiday meltdown
The U.S. Department of Transportation on Monday said it fined Southwest Airlines $140 million for violating consumer protection laws during last year’s holiday meltdown that stranded millions of customers following severe winter weather. The DOT said the fine is 30 times larger than any fine it has issued for consumer protection violations. It includes a […]
Tesla to give 10% pay raises to hourly workers at its Nevada gigafactory: report
Tesla Inc. will give most hourly workers at its Nevada gigafactory roughly 10% raises starting in January, CNBC reported late Monday. Citing internal materials it obtained, CNBC said most hourly workers’ pay at the Sparks, Nev., battery factory will rise from $20 to $22 an hour at the low end and from $30.65 to $34.50 […]
