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(Reuters) – OpenAI has projected that by the end of the decade it will be sharing about 8% of its revenue with commercial partners, namely Microsoft, down from the current 20%, The Information reported on Friday. The difference between those figures adds up to more than $50 billion in additional revenue OpenAI would keep for …

OpenAI to share 8% of its revenue with Microsoft, partners, The Information reports Read More »

(Reuters) – Elon Musk’s xAI has laid off at least 500 workers from its data annotation team, which helps develop the company’s Grok chatbot, Business Insider reported on Friday. The company notified employees by email on Friday night that it was planning to downsize its team of generalist AI tutors, the report said, citing multiple …

Musk’s xAI lays off hundreds of data annotators, Business Insider reports Read More »

By Lananh Nguyen, Ateev Bhandari and Saeed Azhar NEW YORK (Reuters) – Bank of America appointed Dean Athanasia and Jim DeMare as co-presidents on Friday, in a sign that the second-largest U.S. lender is preparing potential successors for CEO Brian Moynihan.     Chief Financial Officer Alastair Borthwick was named an executive vice president. “In their …

BofA appoints co-presidents as CEO says he will serve through the decade Read More »

By Noel Randewich and Ragini Mathur (Reuters) – The Nasdaq notched a record high close on Friday in a mixed trading session, lifted by Microsoft as investors looked ahead to the Federal Reserve’s policy meeting next week, when it is widely expected to cut interest rates to counter a slowdown in the jobs market. Fueled …

Nasdaq notches record high close, traders look to Fed meeting Read More »

By Echo Wang and Atharva Singh (Reuters) – Shares of Legence, the Blackstone-backed engineering and maintenance services provider, rose as much as about 12% above their IPO price on Friday in volatile trading, following a busy week for new listings. The stock opened below its $28 offer price before rebounding to close at $30.50 in …

Blackstone-backed Legence valued at $3.2 billion in volatile debut Read More »

(Reuters) – Amazon.com has been testing General Motors’ BrightDrop electric vans as part of its plan to bring 100,000 electric delivery vehicles on the road by the end of the decade, the e-commerce giant said on Friday. A little more than a dozen vans are being tested, placing them among a fleet that includes electric …

Amazon testing GM’s electric delivery vans in sustainability push Read More »

By Sabrina Valle and David Shepardson NEW YORK/WASHINGTON (Reuters) – Union Pacific Corp CEO Jim Vena met with U.S. President Donald Trump in the Oval Office to discuss the railroad’s proposed $85 billion buyout of Norfolk Southern Corp, the company said on Friday, as it seeks regulatory approval for the biggest U.S. rail merger in …

Union Pacific CEO held talks with Trump on $85 billion plan to buy Norfolk Read More »

By Diego Oré MEXICO CITY (Reuters) – An investigation into Mexico’s e-commerce market found that sellers on Amazon and MercadoLibre faced barriers to competition, the nation’s antitrust watchdog Cofece said on Friday. However, the Cofece commission was unable to reach a consensus to order corrective measures against the firms, it added in a statement. According …

Sellers on Amazon, MercadoLibre face competitive barriers, Mexico watchdog rules Read More »

(Reuters) – U.S. agrichemicals firm Corteva is exploring a breakup that would separate its seed and pesticide businesses into two separate companies, the Wall Street Journal reported on Friday, citing people familiar with the matter. Separating its crop-seed unit from its pesticide business could help shield its seeds from any potential future liabilities associated with …

Agrichemicals firm Corteva explores splitting seed and pesticide units, WSJ reports Read More »

By Mike Scarcella (Reuters) – Alphabet’s Google on Friday failed to persuade a U.S. appeals court to further freeze an order forcing it to make sweeping reforms to its app store Play while it challenges the decision in a lawsuit by “Fortnite” video game maker Epic Games. The San Francisco-based 9th U.S. Circuit Court of …

US appeals court declines Google bid to further pause Play store overhaul in Epic Games case Read More »