Meta just launched Movie Gen, an AI video generator to compete with OpenAI's Sora.Movie Gen can make videos with accompanying audio using a text prompt. It can also edit by prompt.Meta joined the video generation race later than OpenAI and Google. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while ...

Microsoft told customers that a software bug caused inconsistent collection of log data.The bug affected key security products, including Microsoft Sentinel and Entra.Microsoft has been saying recently that security is its top priority. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on t ...

Warren Buffett has sold 23% of his Bank of America stake for about $10 billion since mid-July.Berkshire Hathaway's American Express stake is now more valuable than its Bank of America bet.Buffett cashed in about 56% of his massive Apple bet in the first half of this year. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a ...

Amazon's Management Restructuring Plan - Amazon plans to reduce the number of managers by approximately 13,834 roles, which could save the company between $2.1 billion to $3.6 billion next year [1][3][5] - CEO Andy Jassy aims to increase the ratio of individual contributors to managers by at least 15% by the end of Q1 2025, aiming to reduce bureaucracy and improve operational efficiency [2][4] - Morgan Stanley estimates that 7% of Amazon's workforce is in management positions, with the total number of managers expected to drop from 105,770 to 91,936 by early next year [4] Cost Savings and Efficiency - The cost savings from cutting manager roles could account for 3% to 5% of Amazon's projected operating profit for 2025 [5] - Morgan Stanley assumes the annual cost per manager ranges between $200,000 to $350,000, contributing to the significant savings [5] - The restructuring is part of Amazon's broader effort to flatten the organization, remove unnecessary layers, and operate more efficiently [6] Workforce and Organizational Impact - Amazon has over 1.5 million employees globally, with a significant portion working in warehouses and logistics rather than corporate roles [6] - The company stated that it has added many managers in recent years and now is the right time to review and adjust organizational structures [4] - Amazon emphasized that the changes are aimed at strengthening the company's culture and organizations, though it declined to comment on Morgan Stanley's specific projections [4]

Google is rolling out a series of changes to Search, which will start on mobile.One update will change the way Search results appear for certain queries.A Google VP said the updates are "a pretty dramatic shift from where we were before." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on ...

Meta is partnering with banks to identify scam accounts.Meta's new system allows banks to share data with the company directly.Meta says the collaboration led to the removal of 20,000 scam accounts in the UK alone. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email addre ...

Tesla just quietly removed its most affordable Model 3 from the US lineup on its website.US tariffs on Chinese-made components might have pushed Tesla to discontinue the model.Analyst Dan Ives called the shift strategic, as Tesla's focus in the US remains on the Model Y. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a ...

Tesla reported third-quarter sales on Wednesday.Shares fell in early trading following the release.Global EV demand has faced a slowdown this year Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our Terms of Service and P ...

Elliott Hill is preparing to start as the CEO of Nike amid revenue decline and market challenges.Nike's Q1 fiscal 2025 earnings report shows a 10% revenue drop to $11.6 billion.It seems like Nike is shifting focus from retro styles to a running-focused brand. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized ...

Apollo aims to grow its private-lending business to $1.2 trillion by 2029.Asset managers, like Apollo, are taking over lending once handled by banks, CEO Marc Rowan said.Here are 7 slides from Apollo's investor day that lay out the plan behind its $1-trillion plan. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a person ...