Business
- Intel and US race to finalise $8.5bn in chips funding by year’s end [Financial Times]
cross-posted from: https://lemm.ee/post/43492652
- Moody's poised to lower Israel's credit rating again amid escalating security situation
In February, Moody's downgraded Israel's rating to A2. The upcoming change reflects not only the geopolitical escalation but also Moody's lack of confidence in the Israeli government's ability to manage fiscal consolidation and reduce debt.
Credit rating agency Moody's is set to release an updated rating on Friday which is expected to downgrade Israel's credit rating to A3, equivalent to an A- rating by other agencies.
- Salesforce to close Portland office, asks employees to relocate or take severancewww.businessinsider.com Salesforce to close Portland office, asks employees to relocate or take severance
Salesforce is closing its office in Hillsboro, Oregon, and asking employees to relocate or take a severance package.
cross-posted from: https://lemmy.world/post/20257795
> "In virtual meetings Thursday afternoon, the cloud software giant notified staffers who report to its Hillsboro office, thirty minutes outside of Portland, of its decision. Customer-success employees, who account for much of the Hillsboro office's staff, were given until November 26 to decide whether to take a severance package or relocate to Indianapolis, Atlanta, or Seattle, where Salesforce also has offices. Other employees were told they could continue to work for Salesforce remotely."
- Justice Department Probes Server Maker Super Micro Computer [Wall Street Journal]
cross-posted from: https://lemmy.world/post/20268258
- Shein Workers Have Had It—and They’re Going Publicwww.wired.com Shein Workers Have Had It—and They’re Going Public
Workers have been sharing videos alleging the precarious working conditions that have allowed the Chinese ecommerce giant to target unstoppable growth.
> In a video uploaded to the Chinese social media platform Bilibili in October, a Shein warehouse worker in southern China with black-rimmed glasses tells the camera he picked 650 clothing items during his last shift—a feat he claims to have accomplished, in part, by not taking a single bathroom break. The worker says the sacrifice would help him reach his goal of earning 10,000 RMB (nearly $1,500 at the time) a month at his job picking and packing customer orders for Shein, the global fast-fashion juggernaut valued last year at $66 billion. > > In a separate Bilibili video posted a few days later, a different Shein staffer says that he is “sweating profusely after picking goods all night,” but he’s grateful, at least, that his team leader is friendly. In a third clip shared to the short-form video platform Kuaishou in November, another Shein worker with long hair pulled back into a low ponytail tells the camera she is having trouble lifting her left hand after completing an 11-and-a-half hour shift at a Shein warehouse. “My first time working in logistics, there won’t be a second time,” reads the caption.
Note: title is drawn from the article, and I'd argue is rather exaggerated given the contents. A better title might be, "A Look Into Shein's Reliance on Gig Workers". Just realized this may be behind paywall for some, archive link in the event of that.
- Mark Zuckerberg: creators and publishers ‘overestimate the value’ of their work for training AIwww.theverge.com Mark Zuckerberg: creators and publishers ‘overestimate the value’ of their work for training AI
Meta could strike deals for “really important” work.
> Meta CEO Mark Zuckerberg says there are complex copyright questions around scraping data to train AI models, but he suggests the individual work of most creators isn’t valuable enough for it to matter. [...] > [...] > Zuckerberg said Meta’s future AI content strategy would likely echo its blunt response to proposed laws that would add a fee for links to news stories. The company has typically responded to these rules by blocking news outlets in countries like Australia and Canada. “Look, we’re a big company,” he said. “We pay for content when it’s valuable to people. We’re just not going to pay for content when it’s not valuable to people. I think that you’ll probably see a similar dynamic with AI.”
- Disney Layoffs Underway: Hundreds Of Corporate Staffers Impacteddeadline.com Disney Layoffs Underway: Hundreds Of Corporate Staffers Impacted
Disney is in the middle of a new wave of cuts as part of a "cost-saving initiative," sources tell Deadline.
- Amazon UK pays corporation tax for first time since 2020www.theguardian.com Amazon UK pays corporation tax for first time since 2020
End of ‘super-deduction’ means Amazon UK Services paid £18.7m last year, as British arm raked in sales of £27bn
- Arm Is Rebuffed by Intel After Inquiring About Buying Product Unit [Bloomberg]
cross-posted from: https://lemmy.world/post/20238941
> Source Bloomberg article
- Powell's Books donates portions of banned book sales to lawsuits fighting book ban lawswww.kgw.com Powell's Books donates portions of banned book sales to lawsuits fighting book ban laws
Between Sept. 22-28, for any book bought from Powell's Banned Book list, 20% of the sale will be donated to help fund ongoing lawsuits against book ban laws.
cross-posted from: https://lemmy.world/post/20190118
> Between Sept. 22-28, for any book bought from Powell's Banned Book list, 20% of the sale will be donated. There are over 150 books on the list available to be purchased, including book titles such as "Hunger Games," "1984," "Heartstopper" and "The Color Purple." > > Also applies to www.powells.com > > https://powells.com/banned-books
- Stellantis CEO follows Chinese route to avoid EV tariff 'trap'
- Stellantis CEO Carlos Tavares calls tariffs a 'trap' shielding legacy automakers
- Stellantis' joint venture with Leapmotor gives access to Chinese EV technology
- U.S. and EU have differing strategies on Chinese EVs and technology
LONDON/DETROIT, Sept 26 (Reuters) - Stellantis wants to adopt the low-cost mindset of Chinese EV makers despite the European and U.S. tariffs CEO Carlos Tavares lambasts as anticompetitive, but the world's No. 4 automaker must navigate trade barriers on both sides of the Atlantic if it wants to succeed.
Tavares calls tariffs a "trap," arguing they will hurt legacy automakers by shielding them from the reality that Chinese rivals make electric vehicles for about a third less.
The best way to compete is instead to "try to be Chinese ourselves," Tavares said at a Reuters Events conference in Munich in May.
That belief led Stellantis to purchase a 21% stake in China EV maker Leapmotor last October, creating a joint venture giving Stellantis access to Leapmotor technology and exclusive rights to produce its EVs outside of China.
- Stellantis CEO Carlos Tavares calls tariffs a 'trap' shielding legacy automakers
- Ubisoft Starts Internal Investigation. Recent Slip-ups Spark Concerns; There May Be Layoffs at the Very Topwww.gamepressure.com Ubisoft Starts Internal Investigation. Recent Slip-ups Spark Concerns; There May Be Layoffs at the Very Top
A procedure will be implemented at Ubisoft to examine the company's operations under the current CEO, Yves Guillemot. The goal of the fact-finding committee will be to improve the French studio's performance.
- Department of Justice sues Visa, alleges the card issuer monopolizes debit card marketsapnews.com Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets
The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market.
- US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everythingwww.cnn.com US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’ | CNN Business
The US Justice Department filed a lawsuit Tuesday accusing Visa of illegally monopolizing the debit card market.
- Coca-Cola is pulling its newest ‘permanent’ flavor from store shelveswww.cnn.com Coca-Cola is pulling its newest ‘permanent’ flavor from store shelves | CNN Business
Coca-Cola is discontinuing the production of its new Spiced flavor just six months after the soda hit shelves, marking the end of a disappointing attempt to attract younger drinkers.
Coca-Cola Spiced, BTW.
- Brazil's Lula says he is ready to sign EU-Mercosur trade deal
UNITED NATIONS, Sept 25 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Wednesday he is ready to sign a trade agreement between the European Union and South America's Mercosur bloc, but that it is now up to the EU to conclude negotiations.
Speaking on the sidelines of the U.N. General Assembly, Lula said his country was surprising investors and credit rating agencies with stronger than expected growth, and offering new stability now that tax reform has advanced in Congress.
"If the EU is ready we can sign the trade agreement during the G20 meeting in Brazil," he told reporters, referring to the Group of 20 rich nations summit in Rio de Janeiro in November.
"I have never been so optimistic about the EU-Mercosur accord," the Brazilian leader added.
A European diplomatic source said there had been progress towards resolving differences at a face-to-face meeting of negotiators in Brasilia on Sept 5-6.
- First post-IPO Raspberry Pi results in, and they are strongwww.theregister.com First post-IPO Raspberry Pi results in, and they are strong
The little computer-that-could benefits as supply chain eases
> The little computer-that-could benefits as supply chain eases
- Murdoch family fights in secret over future of media empirewww.bbc.com Murdoch family fights in secret over future of media empire
A succession drama has played out in a Reno courtroom - and the outcome is likely to be withheld from the public.
- Intel Gets Multibillion-Dollar Apollo Offer as Qualcomm Circles [Bloomberg]
cross-posted from: https://lemmy.world/post/20126672
> Source Bloomberg article
- Chip Giants TSMC and Samsung Discuss Building Middle Eastern Megafactories [WSJ]
cross-posted from: https://lemmy.world/post/20125774
- Sorry, there’s no way Qualcomm is buying Intelwww.theregister.com Sorry, there’s no way Qualcomm is buying Intel
Is this from the same gossips who were wrong about Altera and Mobileye or the DoJ subpoenaing Nvidia?
- Vegan cheese won't save the world — but this brand hopes you'll buy it anywaygrist.org Vegan cheese won't save the world — but this brand hopes you'll buy it anyway
Plonts, a new plant-based cheese, is taking an irreverent approach to swaying consumers.
- When you call a restaurant, you might be chatting with an AI hostarstechnica.com When you call a restaurant, you might be chatting with an AI host
Voice chatbots are increasingly picking up the phone for restaurants.
- How breaking up Google could lower your online shopping billarstechnica.com How breaking up Google could lower your online shopping bill
A DOJ win in Google's ad tech monopoly trial could benefit everyone, experts say.
- Dow hits 42,000 for first time in Fed fueled runwww.foxbusiness.com Dow hits 42,000 for first time in Fed fueled run
Investors celebrated the Federal Reserve's super-sized interest rate cut and what is likely the start of a longtime coming easing cycle that should lower borrowing costs for consumers and businesses.
- Cinema Chains Put $2.2B Bet On Box Office Rebound With New Upgradeswww.hollywoodreporter.com Movie Theater Chains Put $2.2B Bet on Box Office Rebound With New Upgrades
North American theater owners unveiled plans for fresh capital investments over three years to draw moviegoers out of the house with a more premium experience at the local multiplex.
cross-posted from: https://lemmy.world/post/19949217 > North American theater owners new capital investments draw moviegoers house premium experience local multiplex.
- Tupperware, company known for its plastic containers, files for Chapter 11 bankruptcywww.usatoday.com Tupperware, company known for its plastic containers, files for Chapter 11 bankruptcy
Tupperware is best known for its once-iconic, colorful food storage containers. Here's what we know so far after the company filed for bankruptcy.
- US Senate Warns Big Tech to Act Fast Against Election Meddlingwww.wired.com US Senate Warns Big Tech to Act Fast Against Election Meddling
In an Intelligence Committee hearing with representatives from Google, Apple, and Meta on Wednesday, senators stressed that foreign influence is far from a solved problem.
- IBM quietly axing thousands of jobs, source claimswww.theregister.com IBM quietly axing thousands of jobs, source claims
We did warn you, Big Blue tells The Reg, as Cisco also swings the ax as promised
- Substack, a newsletter service, is now also a live video companywww.engadget.com Substack, a newsletter service, is now also a live video company
Substack is adding a live video component to its newsletter service. In its announcement post, the company positioned this feature as providing real-time audience engagement for creators.
- Former MoviePass CEO admits the $9.95 ‘unlimited’ ticket scheme was fraudwww.theverge.com Former MoviePass CEO admits the $9.95 ‘unlimited’ ticket scheme was fraud
Unlimited movies were too good to be true.
- After Shark Tank, Mark Cuban Just Wants to Break Shit—Especially the Prescription Drug Industrywww.wired.com After Shark Tank, Mark Cuban Just Wants to Break Shit—Especially the Prescription Drug Industry
Billionaire Mark Cuban is done with his hit TV show, but he’s still invested in fighting pharma’s middlemen, being a dad, and needling Elon Musk.
- Intel ejects Foundry as independent subsidiarywww.theregister.com Intel ejects Foundry as independent subsidiary
Pauses European fabs, scores secret US gig, teams up with Amazon, re-orgs its innards, and more!
- Home Depot to pay $2 million settlement for overcharging customerswww.cnn.com Home Depot to pay $2 million settlement for overcharging customers and false advertising | CNN Business
Home Depot will pay nearly $2 million to settle a civil enforcement claim from California district attorneys that the home improvement company was engaging in false advertising and unfair competition.
"The complaint filed in San Diego Superior Court said that when people at Home Depot brought an item to checkout, they would be charged more money than was written on the shelf tag or on the item itself."
- Biden moves to crack down on Shein and Temu, slow shipments into USarstechnica.com Biden moves to crack down on Shein and Temu, slow shipments into US
Rapid growth of Temu and Shein threatens US businesses and consumers, Biden says.
> Rapid growth of Temu and Shein threatens US businesses and consumers, Biden says.
- OpenAI is reportedly moving away from its complicated non-profit structure next yearwww.engadget.com OpenAI is reportedly moving away from its complicated non-profit structure next year
Sam Altman has reportedly told OpenAI staff members that they're moving away from its non-profit structure.
> Sam Altman has reportedly told OpenAI staff members that they're moving away from its non-profit structure.
- Senators slam private equity–fueled hospital giant in charged hearingwww.motherjones.com Senators slam private equity–fueled hospital giant in charged hearing
Steward Health Care declared bankruptcy in May—after years of sacrificing patient care for profits.
- Breaking Down OnlyFans’ Stunning Economicswww.matthewball.co Breaking Down OnlyFans’ Stunning Economics — MatthewBall.co
Due to UK disclosure requirements, it's possible to examine the P&L of the privately owned/controlled OnlyFans. And the results are shocking.