Costco and the Teamsters union have reached a tentative deal to avoid a strike.Costco Teamsters represents 18,000 workers nationwide who were ready to walk off the job.The deal will now be presented to the union's membership for a vote, a Teamsters spokesperson told BI.Costco and the Teamsters union have reached a tentative agreement to avoid a strike, the union told Business Insider. The union said the deal would now go to its membership for a vote and that further details would follow.Costco Teamsters rep ...

Core Insights - Meta is entering 2025 with significant changes and a focus on intensity, following a successful 2024 [1][7] - CEO Mark Zuckerberg emphasizes a sprint-like pace for the year, with expectations for clearer trajectories in AI and other long-term projects [2] Policy Changes - Meta announced a major overhaul of its content moderation policy, replacing third-party fact-checking with a community notes model [3][4] - The company has also relaxed its hate speech policies and will promote political discussions on its platforms [4][6] - These changes are perceived as a response to the political landscape, particularly with the return of Donald Trump to the presidency [8][10] Financial Implications - Despite the policy changes, analysts suggest that ad spending on Meta's platforms remains stable due to the company's size and importance to advertisers [5] - Meta's CFO indicated no noticeable change in ad spending following the announcements [5] Workforce and AI Focus - Meta plans to lay off 5% of its workforce, targeting lower performers, while also hiring in key areas related to AI and infrastructure [15][16] - The company is set to increase capital expenditures to $60 to $65 billion in 2025, up from $39.23 billion in 2024, to support its AI initiatives [16][17] - Zuckerberg anticipates that 2025 will see an AI assistant reach 1 billion users, with plans for new AI models and features [17][18] Leadership and Strategic Moves - Meta has made personnel changes, including appointing Joel Kaplan as the new chief global affairs officer, to better navigate the political landscape [12][11] - The company has also added new board members with connections to Trump, indicating a strategic alignment with the new administration [13][10] - Meta settled a lawsuit with Trump for $25 million, further indicating a shift in its relationship with the former president [14]

Some 18,000 Costco workers might walk off the job on Saturday when their contract expires.Ahead of the deadline, Costco announced pay raises for non-union employees.That move might have unintended consequences, a legal expert told BI.The clock is ticking for Costco to strike a deal with 18,000 unionized warehouse workers threatening to strike. The company has been negotiating with the union, Costco Teamsters, ahead of the expiration of their existing contract at the end of the day on January 31.Against that ...

Amazon has agreed to block sales of skin-lightening creams containing dangerous amounts of mercury.The agreement settles a decadelong lawsuit brought by the shareholder advocacy group As You Sow.Amazon must comply with California's Proposition 65, which protects consumers from toxic products.Amazon on Friday settled a decadelong legal battle by agreeing to block skin-lightening creams containing dangerous amounts of mercury from its website. The settlement requires that Amazon pay a total of $6 million in c ...

Cloud and inference providers see rising demand for Nvidia H200 chips due to DeepSeek's AI models.DeepSeek's open-source models require powerful hardware to run the full model for inference.The trend runs counter to the Nvidia sell-off following growing awareness of DeepSeek.Some cloud providers are experiencing a notable uptick in demand for Nvidia's H200 chips after Chinese AI company DeepSeek burst into the race for the winning foundation model this month. Though the stock market caught wind of the power ...

Apple avoided a hit to its share price from DeepSeek, but it has another China-made problem.iPhone sales in the country have fallen again.An 11% slide in sales last quarter is raising concerns about Apple amid tough competition in China.DeepSeek may not have triggered a sell-off panic for Apple, but the iPhone maker has another China headache. While Apple avoided the pummelling handed to its Silicon Valley peers this week by Chinese AI startup DeepSeek, the company had its own China-related problems on Thur ...

Core Insights - Meta's CEO Mark Zuckerberg acknowledged the company's slow response to TikTok's rise, attributing it to a misperception of TikTok as a non-social platform, similar to YouTube [1][2] - Zuckerberg emphasized the need for Meta to broaden its understanding of social interaction, especially in light of emerging AI technologies [5][6] Company Response to TikTok - Zuckerberg stated that Meta's traditional view of social interaction, focused on friends posting and commenting, led to a misreading of TikTok's appeal [3][4] - The company failed to recognize the significance of users sharing TikTok content through private messages, which has become a vital form of interaction on Meta's platforms [3][4] Future Outlook and AI Integration - Zuckerberg highlighted the uncertainty surrounding TikTok's future in the U.S., mentioning potential regulatory actions that could impact its operations [4][5] - He outlined a vision for integrating AI-powered features into Facebook and Instagram, including interactive AI agents for user engagement [6][5] - The CEO reassured that Meta can manage both its social media business and AI developments simultaneously, stressing the importance of adaptability [6][5]

Core Points - Microsoft has initiated performance-based job cuts, with immediate termination of healthcare benefits for affected employees [1][7] - Termination letters indicate that employees were let go due to not meeting minimum performance standards, with no mention of severance [2][5] - The company is adopting a stricter performance management approach, evaluating employees up to level 80 [3][4] Company Actions - Microsoft confirmed the job cuts and stated that roles are often backfilled, suggesting minimal overall change in headcount [4] - The company has begun layoffs across various departments, including Security, Experiences and Devices, sales, and gaming, which are separate from performance-based cuts [4] - Employees are required to return all company property and delete any confidential information from personal devices upon termination [6][7]

Company Restructuring - Google has offered a voluntary exit package to employees in the Platforms and Devices unit, which includes teams responsible for Android software, Pixel phones, Chrome, and wearable devices [1][2] - The voluntary exit program is specific to US-based employees in the Platforms and Devices team reporting to Rick Osterloh [2] - The exit program follows last year's merger of Google's Android and Chrome group with the unit responsible for building devices such as Pixel phones and watches [3][4] Strategic Focus - Google aims to enhance focus and efficiency in building products post-restructuring [4] - The company framed the restructuring as a way to move faster and bring deep AI expertise across platforms and devices [3] - Google leadership emphasized the need for employees to be deeply committed to the mission and focused on building great products with speed and efficiency [3]

Core Viewpoint - Tesla is set to launch a paid robotaxi service in Austin this summer, with plans for expansion to other US cities by the end of the year [1][7]. Group 1: Robotaxi Service Launch - The robotaxi service will feature Teslas operating autonomously without passengers starting in June [1]. - The service aims to allow Tesla owners to rent out their vehicles, potentially earning up to $30,000 annually [9]. - An Airbnb-like service for vehicle rental is expected to be available next year, pending the resolution of operational issues [10]. Group 2: Autonomous Driving Technology - Tesla has thousands of vehicles currently operating with unsupervised full-self-driving (FSD) at its Fremont factory, with plans to expand testing globally [2]. - The company aims to release unsupervised FSD in several US cities by the end of 2025 and possibly across North America next year [2][7]. - Musk emphasized the importance of achieving a safety level significantly above that of average human drivers, given the scrutiny surrounding autonomous vehicle accidents [4]. Group 3: Regulatory Challenges - Musk noted that regulatory hurdles could impact the timeline for unsupervised FSD deployment, particularly in Europe and China [7][8]. - In Europe, the complexity of regulations may delay the introduction of unsupervised FSD until May of next year [7]. - In China, Tesla faces challenges in training its systems due to restrictions on data collection, relying instead on online resources [8]. Group 4: Safety and Public Perception - The company is prioritizing public safety and aims to ensure that its autonomous vehicles meet high safety standards before wider deployment [4]. - Historical incidents involving autonomous vehicles from other companies highlight the potential risks and public scrutiny associated with this technology [5][6].