Amazon's customers are buying cheap products, the retailer's top execs said in its Thursday earnings call.Those products are being purchased frequently and in larger amounts, the execs added.Amazon reported a strong third quarter, beating Q3 earnings expectations. 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 persona ...

Amazon CEO Andy Jassy said AWS gives the company a leg up in the AI race.Jassy said AWS has shown that Amazon can handle the logistics for scaling AI.Amazon's Q3 earnings beat expectations, with its stock rising 6% after hours. 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. ...

Boeing union workers have been on strike for nearly 7 weeks due to a dispute on wage increases.The planemaker proposed a sweetened deal that includes a 38% pay increase over 4 years, the union said.The union said it is recommending workers to approve the deal on Monday. 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 p ...

Jassy emphasized aggressive investment in AI during a call with analysts.Amazon plans $75 billion in capex, and even more in 2025, mostly for cloud services.Amazon's AI services are rapidly growing, with significant demand for AWS's AI chips. 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'r ...

Core Insights - Ford is pausing production of its F-150 Lightning electric pickup truck for seven weeks due to ongoing struggles to achieve profitability in its electric vehicle segment [1][3] - The company is implementing cost-cutting measures, including reducing manager bonuses to 65% of last year's levels [2][3] - Ford's electric vehicle division, Model e, reported a loss of $1.2 billion in the third quarter, prompting a revision of the full-year earnings outlook to "about $10 billion" [5] Production and Financial Adjustments - The F-150 Lightning factory in Metro Detroit will idle starting November 15, including planned holiday downtime, and is currently operating on a single shift [3] - Ford's financial performance has been negatively impacted by quality issues and rising costs, including an $800 million warranty charge in Q2 [3][4] - The company has reduced its spending on electric vehicles from 40% to 30% of capital expenditures [4] Strategic Changes - Ford has canceled plans for electric three-row SUVs and delayed the production of its next electric pickup truck as part of its strategic adjustments [5] - The company aims to lower costs, improve quality, and enhance capital efficiency to become a more resilient business [4]

Microsoft and Google beat earnings estimates amid an intensifying rivalry over AI and cloud growth.Google's growth was fueled by AI progress, while Azure remains key for Microsoft. Both companies are spending big on AI, and investors are waiting to see that translate into returns. 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 to ...

Core Viewpoint - The cable TV industry is experiencing a significant decline, prompting Comcast to consider spinning off its basic cable channels into a separate company to create value and better navigate the changing media landscape [2][4][5]. Group 1: Comcast's Proposal - Comcast is contemplating separating its basic cable channels, such as Bravo, USA, CNBC, and MSNBC, into a new company [2][5]. - This move is not an exit from the media business, as Comcast will retain major assets like NBC, Peacock streaming service, and Universal Hollywood studio [3]. - The rationale behind this proposal is to alleviate the burden of declining cable assets and potentially create a "goodco" and "badco" scenario [5][7]. Group 2: Industry Context - The pay-TV industry is in a state of decline, losing millions of subscribers annually, with basic cable networks particularly affected [4]. - Warner Bros. Discovery had previously considered a similar plan but later retracted it, indicating the complexities involved in such a separation [4][7]. - The industry is facing challenges in ad sales and negotiations with pay-TV distributors, which could be impacted by the proposed split [6]. Group 3: Market Reaction - Following the announcement of the potential spin-off, Comcast's shares rose over 6%, although this increase has since diminished [7]. - Analyst Craig Moffett expressed that a spinout would be a positive development for Comcast [8].

Core Insights - Starbucks is planning to implement "common sense guardrails" on mobile app customizations to streamline the ordering process and improve customer experience [3][4] - The initiative comes after a disappointing third-quarter earnings report, indicating a need for operational overhaul under the new CEO Brian Niccol [3][4] - Mobile orders currently account for over 30% of transactions at Starbucks, but issues like longer wait times and crowded cafés have negatively impacted customer satisfaction [5] Group 1 - The company aims to separate the pick-up process from in-store orders to enhance efficiency [3] - The current app allows extensive customization, complicating orders for both customers and baristas [4] - Pricing architecture will be adjusted to prevent unexpected costs for customers [4] Group 2 - A new sequencing algorithm is being prioritized to provide accurate pickup times for mobile orders, reducing the strain on café operations [5] - The changes are part of a broader strategy to revitalize the brand and improve overall service quality [3][5]

Starbucks will stop surcharges on non-dairy milk ahead of the holidays.CEO Brian Niccol announced the change during a Wednesday earnings call.The new policy will save some customers as much as 10% on their orders, Niccol said. 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. ...

Core Insights - Microsoft disclosed an equity investment in OpenAI for the first time, revealing total funding commitments of $13 billion in its latest SEC filings [2][3][4] - The nature of the relationship between Microsoft and OpenAI has evolved from a partnership to include equity investments, indicating a deeper financial commitment [3][4][6] - OpenAI recently completed a $6.6 billion funding round, in which Microsoft participated, and is transitioning from a non-profit to a for-profit organization [4][6] Group 1 - Microsoft previously described its relationship with OpenAI as a partnership rather than an equity investment [5][6] - The new disclosure suggests that prior investments were considered "soft money," which did not require public disclosure [3] - Microsoft has been using OpenAI's large language models in its generative AI products since 2019, providing significant cloud-computing resources in return [6][7] Group 2 - The latest SEC filing indicates that Microsoft has recently purchased stock or share rights in OpenAI [4] - In the July filing, Microsoft listed OpenAI as a competitor for the first time, reflecting the evolving dynamics of their relationship [7]