Waymo suspended robotaxi service in downtown Los Angeles on Sunday after five vehicles were set on fire during protests against President Donald Trump's immigration raids in the city. Photos show Waymo cars covered in anti-ICE graffiti burning in the street, engulfed in smoke.A spokesperson for Waymo confirmed to Business Insider that five vehicles had been vandalized during the protests. The company temporarily suspended service in downtown LA and doesn't think its vehicles were intentionally targeted, th ...

Core Viewpoint - Warner Bros. Discovery (WBD) is planning to separate its declining TV networks from its growing streaming and studios business, a move that is welcomed by Wall Street as it acknowledges that the assets are better off apart [1][2][3]. Group 1: Company Strategy - WBD CEO David Zaslav will lead the streaming segment, while CFO Gunnar Wiedenfels will manage the shrinking TV networks [2]. - Zaslav stated that separating the companies will allow each to progress more effectively than they could together [3]. - The spinoff proposal follows a reorganization of the business that began late last year, indicating a strategic shift in response to market conditions [4]. Group 2: Market Reaction - WBD shares increased by as much as 13% in early trading following the announcement of the spinoff [2]. - The potential split has been a key factor in a 16% rally in WBD's stock over the past month, reflecting positive investor sentiment [5]. - Analysts, including those from Bank of America, believe that the separation could unlock significant unrecognized value for the company [6]. Group 3: Industry Implications - The announcement is expected to trigger speculation about further restructuring within the media and entertainment landscape [9]. - There are discussions about potential combinations of WBD's spun-off linear networks with other assets, such as those from Comcast or Paramount [10]. - The fate of CNN within WBD's structure is uncertain, with analysts suggesting it could be both an asset and a liability in future transactions [11][12]. Group 4: Future Considerations - The studio business of WBD is projected to become a $3 billion entity by focusing on well-known intellectual properties [12]. - Potential acquirers for WBD's studio business could include major players like Amazon, Disney, Netflix, and Comcast, although the current regulatory environment may deter tech companies from pursuing acquisitions [13]. - Disney's CEO Bob Iger may face renewed questions regarding the future of Disney's linear and cable networks, especially in light of past discussions about selling these assets [14].

For about 15 years, big-budget Nintendo games cost $60. In fact, that was the standard game price across the industry. Meanwhile, Nintendo's consoles are generally cheaper than most competing gaming systems, such as the Xbox and the PlayStation. Its consoles have never cost more than $300 — until now.At $450, the Switch 2 is Nintendo's priciest console. Mario Kart World is priced at $80 — the most expensive first-party title Nintendo has ever released. Some fans are outraged by the price increase. But some ...

Boeing has sent a plane to China for the first time since tariff tensions boiled over, ahead of further trade talks between the US and China. The 737 Max touched down in Zhoushan around noon local time on Monday, according to data from FlightAware.It concluded a lengthy transpacific journey that began on Friday, when the plane, registered as N230BE, flew from Seattle to Hawaii. On Saturday, it had another refuelling stop in Guam. China is 16 hours ahead of Seattle, so though the plane arrived three calend ...

Core Viewpoint - Ark Invest's Cathie Wood expressed strong confidence in Tesla as her top stock pick, highlighting its convergence of robotics, energy storage, and AI technologies [1][2]. Group 1: Investment Insights - Wood's firm, Ark Invest, has set a price target of $2,600 for Tesla, which she believes the stock will reach within five years [2]. - The anticipated productivity gains from Tesla's Optimus robots are expected to create new revenue streams for the company, with Musk projecting the production of one million Optimus robots annually by 2030 [3]. Group 2: Stock Performance and Market Reactions - Tesla's stock experienced significant volatility, peaking at $479 in December following political events, but subsequently fell over 40% by March due to investor concerns about Musk's political involvement [5][6]. - The stock dropped 14% amid tensions between Musk and former President Trump, contributing to a nearly 27% decline year-to-date [7]. Group 3: Brand and Political Dynamics - Wood suggested that Musk's recent actions may be an attempt to distance himself from the Trump administration, acknowledging some brand damage to Tesla as a result of this association [8].

Core Viewpoint - Apple is facing significant challenges ahead of its Worldwide Developers Conference (WWDC), including tariffs, delays in its AI initiatives, and concerns about its long-term hardware vision [1][3][5]. Group 1: WWDC Event Overview - The WWDC is set to take place in Cupertino, California, where CEO Tim Cook will deliver the keynote, traditionally featuring product reveals and updates [2]. - Analysts expect the announcements at this year's WWDC to be relatively incremental, with a potential visual design overhaul being the most notable change [3]. Group 2: Challenges Facing Apple - Apple is grappling with the impact of tariffs, particularly a projected $900 million in tariff costs for the June quarter, which could have severe consequences for the company [6][7]. - The company is also dealing with legal challenges, including a ruling that prevents it from collecting a 27% fee from US developers directing users to external purchases, which could affect its relationship with developers [8]. Group 3: AI Initiatives and Competition - Apple introduced Apple Intelligence in 2024, but it has not met expectations for driving iPhone upgrades, and the rollout of a more personalized Siri has been delayed [4][5]. - The recent hiring of Apple's former design lead by OpenAI raises concerns about Apple's competitive position in AI innovation [10][11]. - Analysts emphasize the importance of WWDC for Apple to clarify its AI roadmap and address delays in its AI capabilities [5][12].

Core Viewpoint - The recent feud between Elon Musk and President Donald Trump has temporarily affected Tesla's stock value, but analysts believe it will not have a long-term impact on the company's business, including its robotaxi ambitions [1][3]. Group 1: Impact of the Feud - The conflict began when Musk criticized a GOP spending bill that cuts EV tax credits and is projected to increase the national deficit by over $2.4 trillion [2]. - During the feud, Tesla's stock fell by 14%, resulting in a loss of $138 billion in market capitalization, while Musk's net worth dropped by an estimated $34 billion [3]. - Analysts like Seth Goldstein from Morningstar suggest that the feud may influence stock prices and investor sentiment but does not significantly affect Tesla's business fundamentals [4]. Group 2: Future Prospects - Gene Munster estimates that the removal of EV tax credits could lead to a 15% reduction in Tesla's deliveries by 2025 [5]. - Despite the feud, analysts believe the administration is unlikely to hinder Tesla's robotaxi launch, which Musk claims could unlock trillions in market value [6]. - Munster argues that the White House has little to gain from obstructing advancements in autonomy, as it is crucial for the U.S. to lead in AI [7]. Group 3: Government Relations - Goldstein notes that while the administration could theoretically impose regulations on autonomous vehicles, it is unlikely to take such detailed actions against Tesla [8]. - Morgan Stanley analyst Adam Jonas emphasizes that the feud does not affect the long-term factors driving Tesla's stock value, such as AI leadership and renewable energy initiatives [9]. - Trump has expressed a desire for Tesla to succeed, indicating a potential for a neutral or supportive stance from the administration moving forward [11].

Core Points - A movement is emerging to unionize staff at JPMorgan Chase, the largest bank in the U.S. by assets, indicating a potentially lengthy process similar to the ongoing efforts at Wells Fargo [1][2] - The unionization initiative at JPMorgan is largely driven by the bank's return-to-office policies, which have prompted complaints from employees, particularly in the technology sector [3] Group 1: Unionization Efforts - Organizers at JPMorgan have been actively engaging employees through events and outreach, including a recent pizza party that attracted 250 to 300 workers [5][6] - The JPMC Workers Alliance has members from various U.S. states and cities in the U.K., although the exact number of workers agreeing to unionize remains unclear [4] Group 2: Strategies and Advice - Organizers have shared strategies for building support, emphasizing the importance of trust and informal conversations among colleagues [7] - Specific questions posed to employees highlight concerns about working conditions, such as shuttle service and desk availability, reflecting dissatisfaction with management policies [8]

Core Insights - Amazon's retail business is maintaining a flat hiring budget for 2024, focusing on operating expenses rather than headcount targets [1][2][5] - The changes apply only to corporate employees in the retail division, excluding warehouse and Amazon Web Services staff [3] - CEO Andy Jassy's strategy emphasizes efficiency and profit margins, with a reported record profit of $59 billion in 2024, nearly double that of 2023 [6][5] Hiring Strategy - The hiring budget will be scrutinized, requiring strong justification for any increases, shifting focus from headcount to operating expenses [2][7] - This approach allows for tighter financial control and encourages managers to be more flexible with compensation expenses [7][12] - Managers can hire high-cost talent without the pressure of headcount limits, potentially leading to leaner teams [12][13] Cost-Cutting Measures - Amazon has been on a cost-cutting spree, reducing its workforce from a peak of 1.6 million to 1.55 million, with at least 27,000 job cuts since late 2022 [11] - The retail division is expected to continue cost reductions into 2025 to support investments in new business ventures [14] - New financial reporting tools have been implemented to track headcount and operating expenses more effectively [10]

Just under three months ago, President Donald Trump stood next to Elon Musk outside the White House to choose a new Tesla. Following his explosive feud with the Tesla CEO, Trump may be about to ditch his shiny EV too. A senior White House official confirmed to Business Insider that Trump was considering selling or giving away the red Model S, which has a list price of about $80,000. The Wall Street Journal first reported the news.Trump picked out the Model S from a lineup of Tesla vehicles during a sales p ...