When you spend a dollar at Apple's App Store, up to 30 cents of that goes to Apple. Now, a US court ruling may change that radically — opening up a future where Apple collects almost none of the money users spend on apps.Emphasis on may: Developers and regulators have been complaining about Apple's App Store fees for years. And while they've won some battles, Apple has been able to keep its business more or less intact — which is a big reason Apple's services business, a core part of the company's financia ...

Warren Buffett will soon be out of a job, but at age 95, he's probably not looking for a new one. Longtime admirer Jamie Dimon may have sprung for the next best thing by hiring his understudy. The JPMorgan CEO has hired Todd Combs, one of Buffett's two investment managers at Berkshire Hathaway, to head up a new $10 billion group at the bank and be his special advisor.Bringing Combs into the JPMorgan fold might be as near as Dimon can get to having Buffett himself on his team. "Dimon may very well have vie ...

If all remains well with the US economy in 2026, investment bank Stifel sees 9% upside ahead for the S&P 500. However, if a recession materializes, investors should be prepared for a swift 20% drop in the benchmark index, the bank said in a client note on Thursday."Fed is easing, but recession risk (with a fast -20% S&P 500 decline) is not trivial," Barry Bannister, Stifel's chief US equity strategist, said. Recession is not Stifel's — nor any major bank's — base case scenario for next year. The Federal ...

When Mody Khan lost his job at Microsoft last December, he was hopeful he'd bounce back quickly. But the tech job market had other ideas. Now, a year later, he's still looking. Despite a five-year run at Microsoft as a cloud solution architect, he said, even landing interviews has been a struggle."I've been constantly applying, and I've had interviews, but I've been turned down everywhere," said Khan, who is in his 50s and lives in Texas. In the meantime, he's exhausted his rainy day fund and fallen behind ...

Core Insights - Disney has entered a licensing agreement with OpenAI, allowing the use of its characters and intellectual property, while also investing $1 billion in OpenAI and purchasing ChatGPT Enterprise for its employees [1][2]. Group 1: Strategic Shift - This deal marks a significant change for Disney, which has traditionally been protective of its intellectual property [2][6]. - The partnership is seen as a way for Disney to address challenges posed by unauthorized use of its content and competition from platforms like YouTube [4][8]. Group 2: Revenue and Content Creation - The collaboration enables users to create content featuring Disney characters on OpenAI's Sora app, providing a scalable method for Disney to incorporate user-generated content into its ecosystem [5][10]. - The deal is viewed as a revenue-generating opportunity for Disney, allowing it to monetize the AI trend rather than combat it legally [12][16]. Group 3: Industry Perspectives - Experts suggest that this partnership is a watershed moment for AI and media licensing, emphasizing the importance of respecting copyright while embracing new technologies [6][7]. - Some analysts express concern that Disney may not be in the strongest position, as it is investing heavily in OpenAI without receiving a substantial licensing fee upfront [13][14]. Group 4: Future Implications - The deal raises questions about the acceptance of AI-generated user content on Disney+, as well as the potential for brand damage and misuse of intellectual property [15]. - Industry leaders believe that Disney's strategy of shaping participation in the evolving media landscape will be crucial for its future success [16].

Core Insights - Uber's CEO, Dara Khosrowshahi, identifies robotaxis as a "trillion-dollar-plus" opportunity, with a significant growth market in Asia, expecting to operate in over 10 markets in the Asia-Pacific region by next year [1][2] - McKinsey estimates that the shared-mobility market could reach $1 trillion by 2030 if robotaxis and roboshuttles scale effectively [2] - Japan, Hong Kong, and Australia are highlighted as key markets for Uber's robotaxi services, with an emphasis on the need for transportation in both urban and rural areas due to an aging population [3] Industry Dynamics - The autonomous driving sector is characterized by multiple players, indicating it is unlikely to be a "winner-take-all" market, necessitating collaboration with safe partners and regulators [4] - Uber is already witnessing increased demand for robotaxis, particularly in markets like Austin and Atlanta, which are growing faster than other US markets [5] - Despite the hype, the path to profitability in the robotaxi market remains uncertain, with warnings from analysts about overestimations of market potential [6] Financial Considerations - The high production cost of autonomous vehicles, estimated at around $150,000 per Waymo vehicle, has led to financial losses for major players, including Alphabet's "Other Bets" division, which reported a loss of $1.42 billion in Q3 [7]

Costco just keeps cruising. The wholesale club delivered net sales of $65.98 billion for the quarter, up 8.2% from $60.99 billion for the same period last year.US stores saw strong comparable sales growth of 5.9%, propelled by a 2.6% increase in traffic and a 3.2% increase in transaction size. CFO Gary Millerchip also said the holiday season has been a record-setting one for its US warehouses.The food court sold 358,000 whole pizzas for Halloween, and more than 4.5 million pies in the three days leading u ...

Calvin McDonald, CEO of Lululemon, is stepping down from that role at the end of January, the company announced Thursday. McDonald is also stepping down from the board of directors and will serve as an advisor to the company through March.Lululemon's board is conducting a "comprehensive search process" for its next CEO, the company said. This story is breaking. Check back for updates. ...

Disney is losing the war for attention. Can its blockbuster OpenAI licensing deal change the momentum on the battlefield? Soon, you'll be able to use OpenAI products, such as ChatGPT and the video generator Sora, to create content featuring Disney characters like Mickey Mouse, Ariel, and Darth Vader.CEO Bob Iger said the move would let Disney take advantage of a fast-growing area of entertainment. Iger said initially Disney would "curate some of the videos that have been created on the Sora platform and p ...

Core Insights - Rivian is intensifying its focus on autonomous driving, unveiling a roadmap for developing self-driving capabilities for its upcoming R2 vehicle, Rivian's most affordable model to date [1][4] Group 1: Autonomous Driving Development - Rivian plans to introduce a new in-house silicon chip to power its next-generation autonomous driving hardware, expected to ship with the R2 by the end of 2026 [2][5] - The company aims to achieve Level 4 autonomy, similar to Alphabet's Waymo, where driver supervision is not required [8][10] - Rivian's "Gen 3 Autonomy" hardware is currently under validation and is set to be integrated into the R2 vehicle [7] Group 2: Competitive Landscape - Rivian's announcement heightens competition with Tesla, as both companies aim for fully autonomous driving and software licensing opportunities [4] - Rivian's partnership with Volkswagen is a strategic move towards its licensing ambitions, contrasting with Tesla's reluctance to license its Full Self-Driving (FSD) technology [4] Group 3: Technology and Features - Rivian plans to incorporate lidar technology into the R2 vehicle, which is positioned above the windshield, enhancing safety and redundancy in self-driving capabilities [10] - The company will update its advanced driver assistance system (ADAS) to include hands-free assisted driving, operational on over 3.5 million miles of roads in the USA and Canada [11] Group 4: Subscription Model and AI Integration - Rivian is adopting a subscription model for its autonomous driving software, named "Autonomy+," priced at $49.99 per month or $2,500 for a one-time purchase, launching in early 2026 [12][13] - An AI voice assistant, "Rivian Assistant," will be introduced, allowing drivers to control vehicle features through voice commands and integrate with third-party apps like Google Calendar [14][15]