Author: i2wtc

Corporate America is getting rocked by historic rounds of white-collar layoffs, leading some to wonder: Has AI finally come for their jobs?While the proliferation of generative and agentic artificial intelligence is playing a role, recent job cut announcements from companies like Amazon, UPS and Target are about a lot more than just the advance of new technology. The firms, which each announced layoffs in recent weeks totaling more than 60,000 roles eliminated this year, said they’re trying to cut corporate bloat, streamline operations and adjust to new business models.But in the absence of the Bureau of Labor Statistics’ monthly jobs report,…

Scale AI CFO Dennis Cinelli.Courtesy of Scale AI.After Meta shocked the tech world in June by announcing plans to invest $14.3 billion in Scale AI, primarily as a way to hire the startup’s founder, Alexandr Wang, and a handful of his employees, the future of Scale was immediately thrown in doubt.OpenAI soon disclosed that it had been winding down its work with Scale, which prepares the data that artificial intelligence labs and big tech companies use to train their models. Companies including Google and Elon Musk’s xAI also paused work with Scale after the deal, according to multiple media reports. But…

Independent candidate former New York Gov. Andrew Cuomo, Republican candidate Curtis Sliwa and Democratic candidate Zohran Mamdani participate in a mayoral debate, in New York, U.S. October 16, 2025.Angelina Katsanis | Via ReutersNew York City voters will elect a new mayor on Tuesday, as two well-known Big Apple names strive to beat a relative newcomer, Zohran Mamdani, a democratic socialist whose sudden political ascendance has drawn attention nationwide.Mamdani, the Democratic Party nominee, is facing off against former New York Gov. Andrew Cuomo, a longtime Democrat running as an independent, and Republican Curtis Sliwa, founder of Guardian Angels.The winner will replace…

ISLAMABAD: The Supreme Court has issued a notice to the Khyber-Pakhtunkhwa (K-P) advocate general in a suo motu case concerning the supply of contaminated water from Khanpur Dam. During the hearing of the case, Water and Power Development Authority’s (WAPDA) counsel, Hasan Raza, informed a constitutional bench (CB) of the Supreme Court that Khanpur Dam is the sole source of water for around five million people. “However, pollution at the dam has increased due to the rising number of boats operating in the reservoir,” he told the bench led by Justice Amin-ud-Din Khan. According to the counsel, previously only 20…

Dara Khosrowshahi, CEO, Uber Technologies speaks during the third day of the FII PRIORITY Summit held at the Faena Hotel on February 21, 2025 in Miami Beach, Florida. Joe Raedle | Getty ImagesUber shares fell 8% before the bell even after the ridesharing company beat Wall Street’s third-quarter revenue expectations.Earnings per share: $3.11. It was not immediately clear if that was comparable to the 68 cents expected by LSEG analysts.Revenue: $13.47 billion vs. $13.28 billion expected by LSEG”This was our strongest growth since the end of 2023 and the largest trip volume increase in Uber’s history outside the post-Covid rebound,” CEO Dara Khosrowshahi…

New Jersey Republican gubernatorial candidate, Jack Ciattarelli (L), and New Jersey Democratic gubernatorial candidate Mikie SherrillGetty ImagesNew Jersey voters will decide Tuesday whether to elect Democratic candidate Mikie Sherrill or Republican challenger Jack Ciattarelli as their next governor.The race — one of just two U.S. gubernatorial elections this year — is seen as a bellwether for how President Donald Trump’s all-consuming presence is affecting support for Republicans nationally.The result also could help shape the electoral landscape for the 2026 midterms, when Democrats hope to retake control of at least one chamber of Congress.The former U.S. Navy helicopter pilot Sherrill has…

Signage is displayed outside a Yum! Brands Inc. Taco Bell and Kentucky Fried Chicken (KFC) restaurant in Louisville, Kentucky, U.S., on Thursday, Jan. 30, 2020.Luke Sharrett | Bloomberg | Getty ImagesYum Brands on Tuesday reported quarterly earnings and revenue growth, fueled by strong demand for Taco Bell and improved U.S. sales for KFC.The restaurant company also announced plans to review strategic options for Pizza Hut. The embattled pizza chain has struggled to win over diners in recent years. In its home market, pizza fatigue after pandemic lockdowns have led to slumping sales, and rivals like Domino’s Pizza have taken share from Pizza…

Amazon is building a subsea fiber-optic cable called Fastnet to connect Maryland’s Eastern shore to County Cork, Ireland, in what will be the company’s first wholly-owned subsea cable project.Subsea fiber-optic communication cables carry over 95% of international data and voice traffic across the globe. These cables transmit hundreds of terabits of data per second including government communications, financial transactions, email, video calls and streaming.Amazon has invested in several subsea cable projects in the past, including Jako, Bifrost and Havfrue as part of a consortium, but Fastnet is the first time that the tech company undertakes one of these projects alone.”Subsea is really…

Defence Minister Khawaja Muhammad Asif and Afghan Defence Minister Mullah Mohammad Yaqoob Mujahid shake hands following the signing of a ceasefire agreement mediated by Qatar and Turkey in Doha on October 19. Photo: Reuters ISLAMABAD: Declaring that the Afghan Taliban were not the “darling of Pakistan”, the chief military spokesperson has warned that any cross-border attack from Afghanistan will effectively end the existing ceasefire, adding that such aggression would be met with a “swift and strong response.” In an informal interaction with journalists in Rawalpindi on Monday, Inter-Services Public Relations (ISPR) Director General Lieutenant General Ahmed Sharif Chaudhry said recent…

Alex Karp, CEO of Palantir Technologies, speaks on a panel titled Power, Purpose, and the New American Century at the Hill and Valley Forum at the U.S. Capitol on April 30, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Palantir’s popcornTech earnings continued yesterday with Palantir Technologies, which beat Wall Street’s expectations on the top and bottom lines for the third quarter. The company also issued better-than-expected guidance for its current quarter.Here’s what to…