Google rolls out updated AI model capable of handling longer text, video
Google and its rivals have spent billions to ramp up their capabilities in generative AI and are keen to attract corporate clients to show their investments are paying off.
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U.S. small-business optimism index sees biggest drop since end of 2022
The share of owners planning to boost employment dropped to the lowest level since May 2020.
Commercial-property loans coming due in U.S. jump to $929 billion
Nearly 20% of outstanding debt on US commercial and multifamily real estate will mature this year, requiring refinancing or property sales.
Big Pharma targeting smaller companies, with megadeals now out of favor
Indianapolis-based Eli Lilly and Co. and Switzerland-based Novartis were the most active acquirers in the past 12 months, with seven and six deals respectively, according to data compiled by Bloomberg.
Housing affordability near record low hits Black buyers particularly hard
Almost half of Black home buyers in 2022 were first-time buyers, and newcomers haven’t benefited from the rising home equity that could help defray swelling sale prices and lending costs.
Salesforce to cut about 700 workers, adding to tech layoff flood
Other tech companies, such as Microsoft Corp., Alphabet Inc.’s Google and Amazon.com Inc., also signaled layoffs this month.
J&J to pay $700M to settle states’ talc-marketing probe
The settlement is part of J&J’s strategy to corral a growing number of suits accusing it of concealing baby powder’s health risks after two failed attempts to use the bankruptcy courts to impose a settlement on former users.
IPhone survives 16,000-foot fall from Alaska Air flight
Unlocked and with hours of battery life, the screen showed an email from Alaska Airlines about a baggage claim for the flight, based on the rescuer’s photos.
Fed sees rates staying high for some time, with cuts eyed in 2024
Officials “reaffirmed that it would be appropriate for policy to remain at a restrictive stance for some time until inflation was clearly moving down sustainably.”
U.S. job openings, quits and hiring ease as labor market cools
After reporting troubles in expanding headcount throughout the pandemic, many employers are now scaling back hiring plans without resorting to outright job cuts.
Electric vehicle models eligible for $7,500 tax credit cut to 13
Narrower criteria reduced the number of qualifying models to 13 from about two dozen, according to federal data. The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.
Musk leads world’s richest to $1.5 trillion wealth gain in 2023
No one did better in 2023 than Elon Musk, who recaptured the title of world’s richest person from French luxury tycoon Bernard Arnault.
Software companies finally made profit a priority in 2023
For much of the last decade, software companies just focused on growing as quickly as possible. That changed in 2023. Profit and operating margin became the industry’s watchwords.
U.S. initial jobless claims rise to 218,000, more than estimated
The four-week moving average, which offers a clearer picture of the trend, was little changed at 212,000 last week, the lowest since late October.
U.S. labor market seen cooling in 2024, Fed surveys show
U.S. employers expect to hire less in 2024, according to several regional Federal Reserve bank surveys, a trend that’s set to limit wage gains and cool inflation pressures.
Apple Watch sales ban put on hold by U.S. appeals court
An appellate court in Washington, D.C., issued the interim stay Wednesday, a day after Apple sought the delay.
Drugmakers delay in-demand medicines to evade Biden’s new pricing rules
Firms that normally try to sell drugs as soon as possible are suspending clinical trials and shifting timelines, while patient groups are demanding change.
Carmakers fight massive air bag recall that could cost $10B
Companies like General Motors Co. and Ford Motor Co. said in letters to the National Highway Traffic Safety Administration released Wednesday that there’s no proof that the parts made by ARC Automotive Inc. are defective.
Apple races to tweak software ahead of looming U.S. watch ban
In the meantime, Apple has begun preparing stores for the ban, including sending new signs to its retail outlets that promote the Apple Watch without showing photos of the Series 9 and Ultra 2.
Office holiday parties shun booze and tinsel, push guac and pickleball
In the name of inclusivity, business leaders are opting for year-end celebrations cut totally free from seasonal connotations. And dropping liquor reduces the potential for unprofessional behavior.