Here he is, depicted at six months in office, chiseled and brawny, as mighty as the very nation. Here he is as a Star Wars Jedi wielding a patriot-red lightsaber, rescuing our galaxy from the forces of evil. Here he is taking over Gaza, transforming the strip into a luxury resort complete with a golden effigy of himself. You can be anything, perhaps you were told growing up. Doctor. Astronaut. Maybe, one day, the president. But even the chief executive of the United States, the free world’s leader, frames himself as something more epic — as someone not entirely himself. On the social media…
Author: Staff Writer
Electronic Arts has announced plans to go private in what will be the largest leveraged buyout in history. The $55 billion purchase of the entertainment giant behind franchises such as Madden NFL and Battlefield is set to close in the first quarter of fiscal year 2027. Saudi Arabia’s Public Investment Fund (PIF) will be, by far, the majority investor in EA, one of the largest third-party publishers of video games. Silver Lake and Affinity Partners (whose CEO is Donald Trump’s son-in-law, Jared Kushner) will own minority interests. CEO Andrew Wilson will continue to head EA. The all-cash deal calls for…
Lufthansa announced on Monday that it plans to cut thousands of workers as it aims to increase profitability and efficiency, in part by relying more heavily on artificial intelligence. The airline group said it will eliminate a total of 4,000 jobs worldwide by 2030, the majority of which will be in Germany—with a focus on administration roles, not operational ones. “The Lufthansa Group is reviewing which activities will no longer be necessary in the future, for example, due to duplication of work,” the company said in a statement. “In particular, the profound changes brought about by digitalization and the increased use of…
An experimental medication made from marijuana successfully reduced back pain in a new study, offering further support for the drug’s potential in treating one of the most common forms of chronic pain. The 800-patient study by a German drugmaker is the latest evidence of the therapeutic properties of cannabis, which remains illegal under U.S. federal law even as most states have made it available for medical or recreational use. Health officials in Canada and Europe have previously approved a pharmaceutical-grade form of cannabis for several types of pain, including nerve pain due to multiple sclerosis. In the U.S., the Food and Drug Administration has approved a drug containing CBD—one…
Comcast said on Monday it will appoint president Michael Cavanagh as co-CEO, adopting a dual chief executive model as the company prepares to spin off several NBCUniversal cable networks as part of a restructuring. Cavanagh will take up the new role in January and also join the company’s board, serving alongside Brian Roberts, who will continue as chairman and co-CEO. Several high-profile firms such as Oracle and Netflix have adopted a co-CEO model to better manage their operations as they become more complex and globally diversified. Comcast plans to spin off its NBCUniversal cable channels, including USA Network and CNBC,…
Hillshire Brands, a subsidiary of Tyson Foods, has recalled some 58 million pounds of corn dogs and sausage-on-a-stick products, saying they “may be contaminated with extraneous material, specifically pieces of wood embedded in the batter,” according to the Department of Agriculture’s Food Safety and Inspection Service (FSIS). The problem was discovered after the Tyson Foods subsidiary received multiple consumer complaints, five of which involved injuries. Upon investigation, Hillshire Brands determined that the wooden sticks entered the production process prior to product battering. The FSIS has received no additional reports of injury from consumption of these products. The agency is concerned…
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 311.24 points or -0.69% to 45,043.75 • Shanghai increased 34.426 points or 0.90% to 3,862.532 • Hang Seng increased 494.68 points or 1.89% to 26,622.88 • ASX 200 increased 75.10 points or 0.85% to 8,862.80 • SENSEX decreased 61.52 points or -0.08% to 80,364.94 • Nifty50 decreased 19.80 points or -0.08% to 24,634.90 The major Asian currency markets had a mixed day today: • AUDUSD increased 0.00412 or 0.63% to 0.65784 • NZDUSD increased 0.00226 or 0.39% to 0.57788 • USDJPY decreased 0.784 or -0.52%…
Maxwell House is doing some downsizing. For a limited time, it’s changing its name to Maxwell Apartment. Just in time for National Coffee Day, the coffee brand owned by the Kraft Heinz Company announced that while supplies last, it’s selling a year’s supply of its specially packaged coffee for just $40 on Amazon, or what it’s calling a 12-month “lease.” It’s the same exact coffee, just cheaper at about 10 cents less per ounce. (It also has a new name for the first time in 133 years.) The brand cites statistics that coffee drinkers could save more than $1,000 a…
Spending on AI infrastructure is now contributing more to U.S. GDP growth than the entire consumer economy, according to new data from the Bureau of Economic Analysis. The comparison, which was posted to Twitter (X) by economist Heather Long on Monday, suggests that hype may not be the only thing propping up the high stock prices and valuations of AI companies such as Nvidia and OpenAI. Here, “consumption” means consumer spending on goods and services for personal use, which traditionally contributes about 70% of U.S. gross domestic product. “AI Spending” means business investment in software and information processing equipment, including…
CSX railroad announced Monday that it had replaced its CEO less than two months after an investment fund urged it to either find another railroad to merge with to better compete with the proposed transcontinental Union Pacific railroad or fire outgoing CEO Joe Hinrichs. The outgoing CEO, who came to the railroad in 2022 after a long career with Ford, focused on repairing CSX’s relationship with its workers and labor unions and unifying the team after a bitter contract fight. But Ancora Holdings, which helped spur major changes at Norfolk Southern, said CSX’s operating performance deteriorated significantly under Hinrichs’ leadership. Hinrichs resigned to clear the way…