Trump settled his lawsuit against Meta for about $25 million, his lawyer confirmed.The lawsuit followed Trump's 2021 Facebook suspension after the January 6 riot.Most of the settlement funds will support Trump's presidential library, his lawyer said.President Donald Trump has signed an agreement in which Meta would pay $25 million to settle a lawsuit he brought against the company after being suspended from Facebook in 2021 following the January 6 riot. Trump signed the settlement papers Wednesday in the Ov ...

Microsoft reported second-quarter earnings late Wednesday.The company's AI and cloud computing sales results were lower than analysts expected.Microsoft's stock was one of several hit after DeepSeek's AI model announcement on Monday.Microsoft's earnings on Wednesday showed strong growth in its AI business — just not enough to reassure investors. Sales tied to Azure and other cloud computing grew 31% in fiscal Q2, slightly slower than the 31.8% analysts surveyed by Bloomberg estimated.Meantime, CEO Satya Nad ...

Tesla investors want more details about the company's robotaxi rollout ahead of its Q4 earnings.In an online Q&A, some raised concerns about the possible impact on Tesla of Elon Musk's move into politics."How does the company cope with consumer relations when your CEO is a loose cannon?" asked one investor.Elon Musk is "all-in" on Donald Trump's presidency — and not all of Tesla's investors are happy about it. In an online forum for shareholders to submit questions ahead of Tesla's fourth-quarter earnings o ...

Core Viewpoint - Starbucks plans to simplify its menu by cutting 30% of its food and drink offerings by the end of its fiscal year in September, aiming to streamline service and improve customer satisfaction [1][7]. Group 1: Menu Simplification Strategy - CEO Brian Niccol emphasized the importance of simplifying the menu to enhance partner success, consistency, customer satisfaction, and overall economics [2]. - The company will continue to innovate and introduce fewer, higher-quality beverage and food offerings that align with its premium positioning, while also drawing inspiration from in-store partners based on changing consumer preferences [2][4]. Group 2: Leadership and Initiatives - Since taking over as CEO in September 2024, Niccol has implemented several "back to Starbucks" initiatives to address declining sales and improve the brand's reputation, which has suffered from inconsistent drink preparations and long wait times [4][5]. - Niccol's strategy includes rolling back surcharges for non-dairy creamers, reinstating handwritten notes on coffee cups, and updating store decor to create a more comfortable environment [5]. Group 3: Financial Performance - The company's first-quarter earnings exceeded expectations despite a decline in sales, and shares have increased by over 10% in the last month, indicating positive reception from customers and shareholders [6].

Starbucks reported first-quarter earnings late Tuesday.The results beat expectations, although comparable sales still fell.New Starbucks CEO Brian Niccol has been making changes at the chain.Starbucks has turned to a new CEO and a new strategy to stop sales tumbling. Although it's early days, it looks like the first steps have added a small caffeine boost to the company. Comparable sales fell 4% for the quarter ended December 29. While still a decline, analysts surveyed by Bloomberg were expecting a drop of ...

Performance and Growth - Reality Labs achieved a 40% year-over-year sales growth in 2024, surpassing nearly all its aggressive sales and user targets [1][2] - The division's revenue for Q3 2024 increased by 29% year-on-year to $270 million [4] - The Horizon app, required for Meta's Quest VR headsets, was the top free app in Apple's App Store in the US and the UK on Christmas Day, indicating strong holiday demand [2] Strategic Importance and Future Outlook - Meta's CTO Andrew Bosworth described 2024 as a "pivotal year" for Reality Labs, positioning the division for future success [1][6] - The Reality Labs Business Group (RLBG) played a significant role in setting the company up for the future [3] - Meta's CFO Susan Li emphasized that Reality Labs remains a "strategic long-term priority," with plans for continued significant investment [4] Challenges and Investments - Reality Labs has incurred substantial losses, with over $50 billion recorded since 2020 due to heavy investments in augmented reality technology [3] - In Q3 2024, the division reported operating losses of $4.4 billion [4] Product and Brand Strength - Meta is experiencing "massive sales growth in wearables," with the Quest brand described as stronger than ever [2][6]

Meta is reorganizing Reality Labs to make it a business priority, a leaked memo shows.The reorganization follows major changes at the company including coming performance-based cuts.Reality Labs faces scrutiny for racking up losses; Meta sees it as a strategic long-term priority.Meta is shaking up Reality Labs and integrating it more closely with its core business. Chief technology officer Andrew Bosworth announced a series of reorgs in a post on Meta's internal forum Workplace, which Business Insider viewe ...

General Motors passed a major milestone in its efforts to make electric vehicles profitable.The Detroit automaker said EVs were "variable profit positive" in 2024.GM built 189,000 EVs last year and aims to build 300,000 this year.General Motors is finally making some money in the electric vehicle business. The automaker reported its EVs were "variable profit positive" in 2024, meaning that they earned more money than GM spent on manufacturing costs like labor and parts.GM doesn't break out its EV earnings l ...

Core View - President Donald Trump's proposed tariffs on Taiwan-made semiconductors could significantly impact Nvidia and other US tech companies reliant on TSMC for chip manufacturing [1][2][9] - The tariffs, potentially ranging from 25% to 100%, aim to bring chip production back to the US but may lead to increased costs for companies like Nvidia, Apple, and AMD [2][7][9] - Nvidia faces a double blow as its shares dropped 17% following DeepSeek's AI model release, which caused a $589 billion loss in market value [1][3] Industry Impact - The US semiconductor industry is less developed and more expensive compared to Taiwan, making a rapid shift in production challenging [2][7] - TSMC has already begun moving some operations to the US, including a $65 billion initiative to build chip manufacturing plants in Arizona [6][8] - The US and China are intensifying their competition for global technological dominance, particularly in AI, with Trump announcing a $500 billion initiative to boost US AI infrastructure [11] Company Impact - Nvidia, one of TSMC's largest customers, is particularly vulnerable to the proposed tariffs due to its heavy reliance on TSMC for AI chip manufacturing [1][3][9] - DeepSeek's new AI model, which claims similar performance to OpenAI's frontier model with fewer and less advanced chips, has raised concerns about declining demand for Nvidia's chips [4] - Apple and AMD, also significant TSMC customers, could face increased costs if tariffs are imposed, potentially affecting hardware prices [2][7] Geopolitical Context - Taiwan emphasizes the "complementary" relationship between its semiconductor industry and the US, highlighting the US-designed, Taiwan-foundry model as a win-win for both economies [10] - The potential for conflict between China and Taiwan poses a significant risk to the US tech sector, as a war could disrupt the supply of vital chips [5] - The COVID-19 pandemic has exposed vulnerabilities in global supply chains, further complicating the US's reliance on Taiwan for semiconductors [5]

Whole Foods workers in a Pennsylvania store voted to unionize on Monday.They will join a local chapter of the United Food and Commercial Workers union.This is the first successful unionization push since Amazon acquired Whole Foods in 2017.Workers at a Pennsylvania Whole Foods store voted to unionize on Monday, forming the first union at the grocery chain since Amazon acquired it in 2017. Employees voted to join the local chapter of the United Food and Commercial Workers union, which represents more than 80 ...