Advertisement A bright spot on Lululemon's horizon was its robust growth in international markets.Its international sales increased 33% in Q3 of 2024, compared to 2% in the Americas.China, in particular, was a strong market for the brand this quarter.Lululemon's robust growth in its international markets — particularly China — made up for its lackluster performance in the Americas.The Vancouver-based activewear brand, known for selling $100 yoga pants, reported strong third-quarter sales in its stores abro ...

Advertisement Jeff Bezos said he's "putting a lot of time" into Amazon despite stepping down as CEO in 2021.Bezos said Wednesday at the DealBook Summit that he's spending 95% of his time at Amazon on AI.Amazon announced this week it's building a supercomputer with Anthropic to enhance AI capabilities.Jeff Bezos stepped down as CEO of Amazon over three years ago, but he's still putting in the hours at the company to help it in the AI race. Speaking at The New York Times's DealBook conference on Wednesday, t ...

Core Insights - Tim Cook's potential retirement is increasingly becoming a topic of discussion as he ages, with a focus shifting from his predecessor Steve Jobs to who will succeed him as CEO [2][4] - Cook has expressed a desire for his successor to be an internal hire, emphasizing the importance of continuity within the company [6] - Apple has not made any official announcements regarding Cook's retirement timeline, but insiders suggest it may be at least three years away [6] Group 1 - Tim Cook has been CEO of Apple since 2011 and has indicated that discussions about his departure are becoming more frequent [2][3] - Cook has dedicated a significant portion of his life to Apple, stating that it has been a privilege to lead the company [3][4] - Potential successors mentioned include John Ternus, senior vice president of hardware engineering, and Jeff Williams, chief operating officer [5] Group 2 - Cook has articulated his vision for Apple's legacy, stating that the company will be remembered for delivering transformative products that enhance people's lives [7] - He has indicated that the decision regarding his successor will ultimately be up to others within the company [6]

Core Insights - Intel is shifting its focus towards efficiency and adopting a zero-waste production model to improve its financial performance and competitiveness in the semiconductor industry [2][3][6] - The company has faced significant challenges, including a nearly 50% drop in share price this year, billions in losses, and increased competition from companies like Nvidia and Samsung [6][8] Group 1: Strategic Changes - Intel executives emphasized the need for a "no capital left behind" mindset, moving away from the previous strategy of producing excess wafers in anticipation of demand [5][7] - The company is undergoing a thorough review of its capital spending and operating expenses, with a focus on scrutinizing every dollar spent [8] Group 2: Financial Outlook - Intel's capital expenditures were reported at $25.8 billion last year, an increase from $18.7 billion two years prior, with expectations for continued high spending in the coming years [8] - The company is set to receive a $7.9 billion grant from the CHIPS Act, which is primarily awarded in tax credits, although this is less than the initially promised $8.5 billion due to a separate $3 billion military chip production grant [10] Group 3: Leadership Changes - Following the abrupt departure of CEO Pat Gelsinger, Intel is considering candidates such as Lip-Bu Tan and Matt Murphy for the CEO position [13]

Advertisement A lawsuit says Apple invades the privacy of employees by monitoring personal devices.The lawsuit also claims Apple's policies suppress employee rights and whistleblowing.The suit was filed by an Apple worker who says it barred him from publicly discussing his work.A lawsuit says Apple illegally limits the freedom of employees by monitoring personal devices and iCloud accounts and prohibiting them from talking about their pay and working conditions.The complaint was filed on Monday in the Cali ...

Advertisement Meta is seeking nuclear energy developers to power its AI and sustainability goals.The company said in a blog post it's targeting delivery of the project in the early 2030s. Meta is not alone in turning to nuclear power, with Microsoft and Google making investments.Meta is looking for nuclear energy developers to power its AI ambitions. On Tuesday, Meta said in a blog post that it's targeting 1 to 4 gigawatts of new nuclear generation capacity to be delivered starting in the early 2030s. Adve ...

Core Viewpoint - The departure of Intel's CEO Pat Gelsinger has reignited discussions about the potential separation of its chip manufacturing facilities (fabs) from the rest of the company, a move that could improve its balance sheet but complicates its relationship with CHIPS Act funding and national security considerations [1][3][10]. Group 1: CEO Departure and Strategic Considerations - Gelsinger's opposition to splitting the fabs from the company reflects his commitment to Intel's manufacturing efforts, but his departure has opened the door for reconsideration of this strategy [1][2]. - Intel has already taken steps to explore this separation, including hiring bankers to evaluate options and establishing its Foundry business as a separate subsidiary [2][3]. Group 2: Financial Implications - Splitting the fabs could enhance Intel's balance sheet, but the company must maintain majority control of its foundries to continue receiving $7.9 billion in CHIPS Act funding [3][10]. - Analysts suggest that while the fabs may be seen as "deadweight," eliminating them poses challenges related to product roadmaps and political navigation [8]. Group 3: Competitive Landscape - Competitors like Nvidia and AMD have opted to outsource manufacturing, which raises questions about Intel's strategy in maintaining its fabs [9]. - Intel's recent outsourcing of some chip manufacturing to TSMC signals potential weaknesses in its own fabs [9]. Group 4: Customer Acquisition and Market Position - Intel is shifting towards becoming a contract manufacturer, with Amazon already signed on as a customer, but this requires further investment to attract more clients [13]. - There are concerns about information leakage between Intel's foundry and its chip design businesses, highlighting the need for separation to protect competitive interests [14].

Advertisement A Delaware judge again struck down Elon Musk's $55 billion pay package.Legal experts walked BI through what the appeal process could look like for Tesla.Tesla may also reintroduce the package in Texas, a strategy that could end up costing shareholders more.Elon Musk's battle over his Tesla pay is entering a new phase.A Delaware judge ruled on Monday that Tesla's shareholder vote wasn't enough to pass Elon Musk's $55 billion compensation package.Advertisement Tesla called the decision "wrong" ...

Advertisement Pat Gelsinger's successor has big problems to pick up.The departing Intel CEO has struggled with a turnaround and left the company behind on AI.Intel also faces an uphill battle in its bid to outdo industry rival TSMC.Intel's shock announcement that Pat Gelsinger is retiring has thrown the storied chip firm's future into deep uncertainty. Its interim leaders and next CEO must now pick up the pieces of a turnaround plan designed to fix a business in turmoil, play catch-up in a lucrative AI rac ...

Advertisement Elon Musk has hit out at a Delaware judge's latest rejection of his mega pay package.The Tesla CEO said the ruling was "totally crazy" and "absolute corruption."Tesla said it would appeal the decision by the Court of Chancery judge.Elon Musk has hit out at a Delaware judge's latest rejection of his mega pay package.In posts on X, his social media platform, the world's richest person said the ruling was "totally crazy" and "absolute corruption."Advertisement The compensation plan was introduc ...