Amazon has cut tens of thousands of white-collar jobs to help reduce costs © David Paul Morris/Bloomberg Amazon’s shares slumped on Friday after it announced plans to spend $200bn on capital expenditures in 2026 to scale up its AI infrastructure, roughly a third more than Wall Street had forecast. The Seattle-based tech group said capex…
A malicious and misguided culture war continues. A malicious and misguided culture war continues. Feb 5, 2026, 9:40 PM UTC Emma Roth is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO. When Netflix co-CEO Ted Sarandos entered the…
CINCINNATI (CNN/CNN NEWSOURCE/WKRC) – Pizza Hut plans to close about 250 locations across the United States during the first half of the year, parent company Yum Brands announced Wednesday. The closures account for roughly 3% of Pizza Hut’s U.S. restaurants and are part of a broader strategic review of the chain, Yum Brands executives said…
Minute Maid helped make orange juice a year-round morning staple in 1946, when it started shipping cans of frozen juice around the U.S. But 80 years later, the brand’s parent company is halting sales of frozen juice concentrates in the U.S. and Canada, saying it wants to focus on the fresh juices that customers now…
Cinema United, the trade org for exhibition, has made public its remarks about the pending Netflix–Warner Bros merger to the Senate antitrust subcommittee, saying, “If Netflix succeeds in acquiring Warner Bros., the results will be economically and culturally catastrophic: fewer theatres, shorter windows, less revenue, fewer jobs across the national and global entertainment industry, and…
For Eikon Therapeutics, its IPO feels more like something it’s surviving rather than celebrating. The Bay Area startup is one of biotech’s most prominent privately … Sign up to read this article for free. Get free access to a limited number of articles, plus choose newsletters to get straight to your inbox.
On Wednesday, OpenAI CEO Sam Altman and Chief Marketing Officer Kate Rouch complained on X after rival AI lab Anthropic released four commercials, two of which will run during the Super Bowl on Sunday, mocking the idea of including ads in AI chatbot conversations. Anthropic’s campaign seemingly touched a nerve at OpenAI just weeks after…
Sen. Elizabeth Warren (D-MA) (L), and Sheikh Tahnoon bin Zayed Al Nahyan Getty Image | Reuters Sen. Elizabeth Warren, D-Mass., will ask the Senate on Thursday to condemn and call for the reversal of the sale of 500,000 advanced artificial intelligence chips to the United Arab Emirates. Warren’s resolution, shared exclusively with CNBC, comes after…
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Job seeker Melaku Woldeamanuel browses job listings at the Rubicon Programs’ career center in San Francisco on April 3. (Getty Images) Job cuts surged nationwide in January following large layoffs, but California’s losses slowed after a year in which it led the nation in staff reductions. U.S. employers announced 108,435 cuts in January, more than…
LOUISVILLE, Ky. — Pizza Hut delivered some bad news on Wednesday, as the parent company of the fast-food restaurant chain announced that 250 “underperforming” locations will be closing during the first half of 2026. Yum! Brands, Inc., Chief Financial Officer Ranjith Roy said during a Feb. 4 earnings call that the move was part of…
Think HR, but for AI. Think HR, but for AI. Feb 5, 2026, 2:00 PM UTC Robert Hart is a London-based reporter at The Verge covering all things AI and Senior Tarbell Fellow. Previously, he wrote about health, science and tech for Forbes. Managing humans is hard. Managing AI agents is… also hard. That’s why…
Novo began selling its Wegovy pill in the US last month from $149 a month © Shelby Knowles/Bloomberg Novo Nordisk has threatened legal action against Hims & Hers after the US telehealth group launched a cheaper version of the Danish drugmaker’s Wegovy pill, as competition heats up in the increasingly crowded obesity treatment market. Hims…
Bitcoin’s plunge accelerated on Thursday, as the world’s largest cryptocurrency fell more than 12% to below $64,000 in late afternoon trading, a level not seen since October 2024. The moves underscore how vulnerable cryptocurrencies can be when investors turn away from risk. The sharp drop was a reversal from late last year, when bitcoin surged…
Minute Maid helped make orange juice a year-round morning staple in 1946, when it started shipping cans of frozen juice around the U.S. But 80 years later, the brand’s parent company is halting sales of frozen juice concentrates in the U.S. and Canada,… Minute Maid helped make orange juice a year-round morning staple in 1946,…
S&P 500 futures were flat-to-up this morning before the markets opened in New York, a sign that traders may be temporarily sated after the carnage they wreaked in the stock markets over the past few days. The index fell 0.51% yesterday, closing at 6,882, after spending much of the previous month flirting with the 7,000…
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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Feb. 5, 2026. Brendan McDermid | Reuters U.S. equities fell for another session on Thursday as investors took a risk-off stance, leading popular trades in technology and bitcoin to unravel. The Dow Jones Industrial Average shed about 592.58…
As precious metals continue to seesaw after Friday’s historic sell-off, investment banks are doubling down on gold — but urging caution on going all-in on silver. At 2:11 a.m. ET on Thursday, spot gold shed 0.7% to settle at $4,926.9 an ounce, reversing the rebound from Tuesday and Wednesday’s session which saw the yellow metal’s price…
Bitcoin BTC$68,713.65 fell below $70,000 as the crypto selloff deepened before the start of equities trading in the U.S. The largest cryptocurrency dropped to as low as $69.917.20 according to CoinDesk data, with sentiment sliding further into “extreme fear.” The Fear and Greed Index sits at 11, a level reached only a handful of times…
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Blackstone billionaire David Blitzer, the first person to own team stakes in all five major U.S. professional sports leagues, has another…
The labor market is becoming increasingly inhospitable in the United States, as demand for workers continues to wane and job postings are at their lowest levels since the pandemic. New data from the Bureau of Labor Statistics released Thursday showed that the estimated number of job openings sank to 6.54 million at the end of…
A projection of a Euro currency sign is pictured on the facade of the European Central Bank (ECB) headquarters in Frankfurt am Main, western Germany, on Dec. 30, 2025. Kirill Kudryavtsev | Afp | Getty Images The European Central Bank on Thursday kept policy rates unchanged for the fifth consecutive meeting, with its key interest…
Kevin Dietsch/Getty Images AI chipmaker Nvidia has been at the center of the enormous AI hype wave that has gripped global markets, ascending to become the most valuable company in the world. Yet despite its dominating presence on Wall Street, OpenAI is getting cold feet about the company’s offerings. After announcing a blockbuster $100 billion…
In this article PTON Follow your favorite stocksCREATE FREE ACCOUNT A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. Peloton Interactive Inc. is scheduled to release earnings figures on November 2. Michael Nagle | Bloomberg | Getty Images Peloton posted a worse-than-expected holiday quarter on Thursday after shoppers failed…
NEW YORK (AP) — Elon Musk vowed this week to upend another industry just as he did with cars and rockets — and once again he’s taking on long odds. The world’s richest man said he wants to put as many as a million satellites into orbit to form vast, solar-powered data centers in space…
There is concern that subscribers might be negatively affected if Netflix acquires Warner Bros. Discovery’s streaming and movie studios businesses. One of the biggest fears is that the merger would lead to higher prices due to less competition for Netflix. During a US Senate hearing Tuesday, Netflix co-CEO Ted Sarandos suggested that the merger would…
Brad Karp attends the Paley Museum’s 50th anniversary celebration at the Paley Museum on Nov. 5, 2025 in New York City. John Lamparski | Getty Images Entertainment | Getty Images Brad Karp, chairman of the major corporate law firm Paul Weiss, resigned that post on Wednesday after fallout over emails between him and notorious sex…
NEW YORK (AP) — Sharp drops hit Wall Street on Thursday as technology stocks fell and bitcoin plunged again to roughly half its record price set last fall. Several discouraging reports on the U.S. job market also knocked down yields in the bond market. The S&P 500 fell 1.2% for its sixth loss in the…
Bitcoin’s price sell-off continued Thursday, with prices breaking below the widely-tracked $70,000 level on the OG crypto exchange Bitstamp. BTC’s dollar-denominated price slipped to $69,101 during the Asian trading hours, trading a discount to prices on other exchanges, including Coinbase, where BTC hit a low of $70,002. STORY CONTINUES BELOW The discount on Bitstamp likely…
Earlier today, the Federal Trade Commission (FTC) announced an extraordinary settlement with Express Scripts that fundamentally reshapes its pharmacy benefit management (PBM) business—and by extension, the entire drug channel. The settlement addresses virtually every warped incentive that we have been covering on Drug Channels for the past 20 years. I summarize them below, but it’s…
Lisa Su, chair and chief executive officer of Advanced Micro Devices Inc., displays an AMD Instinct MI455X GPU during the 2026 CES event in Las Vegas, Jan. 5, 2026. Bloomberg | Bloomberg | Getty Images South Korea markets led declines in Asia-Pacific Thursday, tracking Wall Street losses as the tech sell-off gained momentum. Seoul’s Kospi…
Rendering reliance on it for indications of employment trends useless. By Wolf Richter for WOLF STREET. The ADP National Employment Report data, released today by payroll processor ADP, was massively revised going back to 2010, now showing erratic and massive month-to-month job gains and losses going back to 2010 that are completely different than the data for the…