The US military is facing worsening delivery delays for its advanced F-35 Lightning II Joint Strike Fighters, according to a new government watchdog assessment. A report released Wednesday by the Government Accountability Office (GAO) found that most F-35s delivered in 2023 by contractor Lockheed Martin and engine maker Pratt & Whitney were late, arriving an average of 61 days behind schedule. In 2024, the problem grew notably worse: every F-35 delivered was late, with an average delay of 238 days.The repo ...

Joe Lonsdale, the cofounder of Palantir and founding partner of Austin-based venture capital firm 8VC, said Thursday he was "uncomfortable" with the government's $8.9 billion investment in Intel. "It's very weird, of course, for the government to be taking a stake in something," Lonsdale said on CNBC's Squawk Box. "It's also a little bit weird for the government to be giving $9 billion to a company, too.""It's cronyism in some form," he added. Cronyism, the milder cousin of nepotism, is the practice of giv ...

Core Viewpoint - Google has seemingly achieved a favorable outcome in the antitrust case, avoiding severe penalties like divestiture of Chrome or Android, but analysts warn that the remedies could pose hidden risks that may ultimately disadvantage the company [1][2]. Group 1: Impact of Remedies - The remedies shift power away from Google, potentially leading to a net-negative situation for the company despite initial investor optimism [2]. - Google retains control over its key distribution platforms, Chrome and Android, which appears beneficial on the surface [3]. - However, the elimination of exclusivity in contracts alters the competitive landscape, allowing companies like Apple to direct search traffic to various partners, enhancing their market power [4]. Group 2: Competitive Dynamics - The ruling prohibits Google from signing exclusive deals for generative AI products, enabling competitors like OpenAI and Anthropic to gain market share [5]. - Google is required to syndicate portions of its search results and ads to qualified competitors for up to 40% of queries over the next five years, providing challengers with a shortcut to credible search experiences [9][10]. - Data sharing rules will allow rivals to access valuable user interaction data, helping them close the quality gap in search queries [11][12]. Group 3: Long-term Implications - The remedies could empower Apple and OpenAI to develop viable alternatives to Google's services, marking a significant advantage for these competitors [14]. - By mandating syndication and data sharing, the court has equipped rivals with tools to challenge Google's dominance, particularly in the rapidly evolving AI-powered search space [15]. - Google has expressed concerns about the impact of these requirements on user privacy and is considering an appeal against the ruling [16].

Core Insights - Amazon is entering the AI agent market with a new software called Quick Suite, aiming to enhance its position in the enterprise software sector [1][5] - Quick Suite is designed to unify AI agents for business insights, research, and automation, enabling faster decision-making for business users [2][6] - The company is currently conducting private previews and beta tests with select companies to refine the software before its official launch [3][14] Group 1: Product Features and Capabilities - Quick Suite will integrate existing AWS products like QuickSight and Q Business, while introducing a new feature called Quick Flows for automating tasks through natural language prompts [12][13] - The software will include a "deep research agent" for generating reports and allow users to create custom agents tailored to specific business needs [13] - Over 40% of business users are expected to adopt AI-enhanced work environments soon, positioning AWS to lead this transition [6] Group 2: Market Position and Competition - Quick Suite positions AWS to compete more aggressively in the AI space, particularly in agent-driven automation, alongside competitors like Google, Microsoft, and Salesforce [4] - The enterprise software market, known as SaaS, represents a significant opportunity for Amazon, which has been less impactful in this area compared to its cloud computing services [5] Group 3: Beta Testing and Feedback - Amazon has invited a select group of beta testers and provided a private preview to at least 50 companies, receiving mixed feedback on the software [14][15] - Positive feedback highlights the simpler setup and intuitive design, as well as the deep research feature and integration with external tools [16] - Some testers reported challenges with networking limitations and permission requirements for data linking [17]

Warren Buffett's dealmaking made him a legend, but the breakup of Kraft Heinz marks one of his few missteps, the investor's close followers say. Buffett's Berkshire Hathaway conglomerate partnered with Brazilian private equity firm 3G Capital to acquire Heinz for around $23 billion in 2013. Two years later, they teamed up again to merge Heinz with Kraft in a $40 billion deal.Buffett, a fast-food aficionado, called it "my kind of transaction," adding that the combined company could "supply you Heinz ketchup ...

American Eagle is counting its controversial Sydney Sweeney ad as a win. CEO Jay Schottenstein said he considered the campaign a "success" as the company beat analyst expectations for the second quarter on Wednesday.The apparel brand said the "great jeans" marketing campaign starring Sweeney, launched in late July, has helped drive an "uptick in customer awareness, engagement, and comparable sales." "The iconic fall denim campaign with Sydney Sweeney confirms we are the American jeans brand," Schottenstei ...

Core Insights - Unilever's new CEO, Fernando Fernandez, is implementing significant leadership changes, aiming to refresh up to 25% of the company's top 200 leaders [1] - The company has reduced its white-collar workforce by approximately 18% over the past 18 months to enhance accountability [1] - Unilever is shifting from a geography-led strategy to a category-led approach, managing brands as comprehensive business units [1] Leadership Accountability - Fernandez highlighted the presence of "many pockets of mediocrity" within the company that need immediate attention [2] - The company now has absolute accountability with four business group presidents overseeing 44 P&L units, ensuring transparency in leadership [2] - Leaders are encouraged to make quicker decisions with a higher risk tolerance, operating with 70% certainty to avoid delays [6] Cultural Transformation - Unilever aims to foster a culture akin to a startup, which is unprecedented for a company of its size [6] - The company is hiring and promoting emerging talent, increasing performance incentives up to 200%, and offering rewards in "hard currency" [9] - The goal is to create a culture that recognizes and rewards leadership performance, ensuring Unilever remains competitive and innovative [9]

Right-wing cable news outlet Newsmax sued conservative media giant Fox Corp. on Wednesday, alleging that the Murdoch family-controlled conglomerate holds an illegal monopoly in the "right-leaning pay TV news market." In the antitrust lawsuit, filed in a Florida federal court, Newsmax accuses Fox Corp. and its Fox News network of engaging in an "exclusionary scheme to increase and maintain its dominance" in that market.Newsmax alleges in the court papers that if not for Fox's "anticompetitive behavior," the ...

Macy's is betting on high-earners to lead its comeback to retail dominance. The department store chain topped Wall Street's estimates for the second quarter with net sales of $4.8 billion, the company reported Wednesday.CEO Tony Spring told investors on Macy's earnings call that higher-income households are driving part of the recovery. Spring said that more than 50% of Macy's customers come from households earning over $100,000. "While we have exposure to lower income levels, it's not nearly what it was, ...

Thanks in part to Jay Leno, we now have a better idea about how many Tesla drivers are using Full-Self Driving. Tesla Chief Designer Franz von Holzhausen and Vice President of Vehicle Engineering Lars Moravy appeared on an episode of "Jay Leno's Garage" released Monday. In it, Leno asked how often people use the driver-assistance software."You know, it's increasing a lot, like the take rate has gone up from single-digit percentages on all our cars to we're in the teens now," Moravy answered. "On S and X, i ...