Reuters US Business

(Reuters) -Rollout of generative AI and agents will reduce Amazon’s total corporate workforce in the next few years, Andy Jassy, CEO of the online retailer said in a note to employees on Tuesday. Artificial intelligence is reshaping the global workforce by automating routine and repetitive tasks, and industry leaders expect this to prompt a reduction …

Amazon’s corporate workforce may shrink as AI takes over routine tasks Read More »

By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June and softening economic activity. The report from the Labor Department on Wednesday showed widespread layoffs in the prior week, which had boosted …

US weekly jobless claims, housing data point to softening economic activity Read More »

(Reuters) -OpenAI CEO Sam Altman said that Meta has offered his employees bonuses of $100 million to recruit them, as the tech giant seeks to ramp up its artificial intelligence strategy. The alleged attempts by Meta to hire OpenAI staffers are the latest signs of a frenzy to hire top engineers to develop AI models, …

Sam Altman says Meta offered $100 million bonuses to OpenAI employees Read More »

By Jaspreet Singh and David Shepardson WASHINGTON (Reuters) -Texas Instruments said on Wednesday it will spend more than $60 billion to expand its U.S. manufacturing footprint, the latest chipmaker to ramp up domestic production amid pressure from the Trump administration to reshore the semiconductor supply chain. In December, the Biden administration finalized a $1.61 billion …

Texas Instruments plans $60 billion US investment under Trump push Read More »

(Reuters) -Intel hired three chip industry executives in engineering and networking roles on Wednesday, as part of CEO Lip-Bu Tan’s plans to overhaul top management and turn around the embattled chipmaker. Tan’s plans include trimming the company’s large workforce, hiring new leadership, focusing on customer satisfaction and ensuring the foundry business succeeds. Tan started to …

Intel appoints engineering hires as part of CEO Tan’s turnaround strategy Read More »

By Sabrina Valle NEW YORK (Reuters) -Private equity firms are holding about $1 trillion in unsold assets, PricewaterhouseCoopers (PwC) said on Wednesday — capital that, in a typical market environment, would have been returned to investors. High interest rates in the United States, President Donald Trump’s on-again, off-again approach to tariff policy, and geopolitical uncertainties …

Private equity sits on $1 trillion amid uncertainties, M&A stalls, PwC says Read More »