Lululemon has laid off 100 part-time employees in its customer service department in an effort to "strengthen" the business. The layoffs have affected staff in North America working at the company's contact center.A Lululemon company spokesperson said: "Over the past several months and as part of our ongoing strategic efforts to strengthen our business, we have been assessing ways to optimize and better support this experience for our guests and employees in North America. "After careful consideration, we ...

Amazon is closing the supermarket chain that it spent nearly six years building from scratch. The tech and retail giant said it plans to close its Amazon Fresh stores "to prioritize investment in growth areas," in a company blog post on Tuesday. Amazon has around 60 Fresh stores in the US listed on its website.The company is also shuttering about 15 Amazon Go convenience stores, it said. "While we've seen encouraging signals in our Amazon-branded physical grocery stores, we haven't yet created a truly dis ...

Core Insights - Wall Street is significantly investing in AI, integrating it into various operations, which is transforming workflows and workplace culture [1][2] - The adoption of AI is expected to redefine 44% of the work performed at banks by 2030, indicating a substantial shift in the industry [2] Group 1: Investment and Integration - Banks are pouring billions into generative AI, affecting everything from trading floors to back offices [1] - The integration of AI is changing the roles of software engineers and junior bankers, as well as influencing C-suite dynamics [1] Group 2: Future Outlook and Challenges - The shift towards AI is in its early stages, with firms exploring the deployment of autonomous AI agents [2] - Bank leaders are facing challenges related to AI-powered cyberattacks and are under pressure from analysts regarding the return on their significant investments in AI [2]

Worried about the AI bubble? A new report suggests AI was not the main leg propping up the economy in 2025. Macro Research Board Partners, an economic research platform, published a report in January that contradicted the popular belief that AI is the main driver of GDP and that the "narrowly concentrated" and "extremely vulnerable" growth would tank the entire economy once it falters."In short, without an AI boom, there would have certainly been less GDP growth last year, but there would also be fewer imp ...

The Federal Reserve will make its first rate decision of the year on Wednesday — and all eyes are on Chair Jerome Powell. The central bank's leaders have a near-total chance of holding rates steady this week, according to market-based projections from CME FedWatch. After three cuts in 2025, the Fed has penciled in one rate cut for the new year. In the long run, these rate decisions will affect the job market, consumer prices, and corporate America.But there's a shadow over January's Fed meeting: The Depart ...

Core Viewpoint - Expedia is undergoing organizational changes by eliminating certain roles while simultaneously creating new ones to align with future skill requirements and streamline its structure [2][4]. Group 1: Organizational Changes - The company is simplifying its structure and reducing organizational layers to enhance speed and accountability [2]. - Specific details regarding the number of affected employees or the divisions impacted by the layoffs remain unclear [2]. Group 2: Employee Reactions - Several employees have publicly shared their experiences of being laid off on LinkedIn, expressing gratitude for their time at the company and optimism for the future [3]. - Despite the layoffs, Expedia is promoting over 250 open roles, indicating ongoing recruitment efforts [3]. Group 3: Industry Context - Expedia's actions are part of a broader trend among companies, including Citi and T-Mobile, that are cutting roles to flatten organizational structures and prepare for future challenges [4].

Core Viewpoint - Nike is consolidating its US distribution center operations, resulting in the layoff of 775 employees in Tennessee and Mississippi as part of a strategy to streamline operations and enhance efficiency [1][2]. Group 1: Job Cuts and Operational Changes - The company plans to cut 775 jobs to sharpen its supply chain footprint and accelerate the use of advanced technology and automation [1]. - This move is part of CEO Elliott Hill's "win now" strategy aimed at returning Nike's revenue to growth after facing challenges such as declining sales and increased competition [2]. - Previous workforce reductions included a 1% cut in corporate staff in 2025 and a shake-up in senior leadership, eliminating roles such as chief technology officer and chief commercial officer [3]. Group 2: Future Outlook and AI Concerns - Nike expects these job cuts to support its path back to long-term, profitable growth [4]. - The company is responding to growing concerns about AI potentially replacing human workers, as seen in workforce reductions by other companies like HP and Amazon [4]. - A study from MIT indicates that AI's skills overlap with over 11.7% of the US labor market, highlighting the broader implications of automation in the workforce [4].

Core Viewpoint - Nvidia CEO Jensen Huang dismissed concerns regarding circular financing related to Nvidia's $2 billion investment in CoreWeave, labeling such suggestions as "ridiculous" [1][2]. Investment Details - Nvidia is expanding its investment in CoreWeave by purchasing $2 billion worth of shares, which will support CoreWeave's efforts to procure land, power, and infrastructure for building AI factories powered by Nvidia's chips [2][3]. - Huang emphasized that Nvidia's investments represent a small percentage of the total capital required by these companies for their AI expansion plans, citing OpenAI's commitment to spend approximately $1.4 trillion over the next eight years on data centers [3][4]. Company Reputation and Financial Health - Nvidia has previously addressed concerns about its financial stability, particularly in response to investor Michael Burry's critiques, asserting that its underlying business is economically sound and that its reporting is transparent [4][5]. - The company has expressed its commitment to maintaining a reputation for integrity amidst scrutiny, contrasting its situation with historical examples from Silicon Valley [5].

Core Investment and Partnership - Nvidia is investing $2 billion in CoreWeave, purchasing stock to enhance their collaboration [1] - The partnership will focus on building "AI factories" to accelerate CoreWeave's AI infrastructure development, targeting 5 gigawatts of capacity by 2030 [1] Share Price and Market Reaction - CoreWeave's share price increased nearly 10% in premarket trading following Nvidia's investment announcement [2] - Nvidia's investment was made at a price of $87.20 per share [2] Historical Context and Relationship - CoreWeave has a longstanding relationship with Nvidia, having received approximately $100 million in investment from Nvidia in 2023 [3] - Nvidia's involvement includes both equity investments and the sale of chips to CoreWeave, raising concerns about circular AI deals in the industry [3]

Group 1 - President Trump threatened to impose 100% tariffs on all Canadian goods if Canada makes a trade deal with China [1] - Trump warned Canadian Prime Minister Mark Carney against allowing Canada to become a "Drop Off Port" for Chinese goods [1] - Carney's recent visit to China aimed to discuss economic and trade opportunities, marking the first visit by a Canadian leader since 2017 [2] Group 2 - A joint statement from Canada and China committed to expanding bilateral trade and investment, including cooperation in energy and agriculture [3] - Canada will allow up to 49,000 Chinese electric vehicles into its market at a tariff rate of 6.1%, expecting China to lower tariffs on Canadian canola seed to around 15% by March 1 [3] - Trump's initial support for Carney's trade deal shifted to a critical stance following Carney's speech at the World Economic Forum [4][5]