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Amazon CEO Andy Jassy is betting that generative AI will change how the company thinks about its workforce in the future. Jassy said that as the company continues to roll out more AI agents, and thus change how the company’s work is done, he expects Amazon will reduce the number of corporate jobs needed in … Read more
As Nvidia reports earnings for the first quarter of its fiscal year 2026, which closed on April 28, the company has released numbers on how the Trump administration’s recent chip export restrictions are affecting business. Nvidia reported that it incurred a $4.5 billion charge in Q1 due to licensing requirements impacting its ability to sell … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK retailer Marks and Spencer said on Wednesday that it expects a £300mn hit to profits this year because of a cyber attack last month. The company, whose operations have been disrupted by the hack, … Read more
OpenAI sees itself paying a lower share of revenue to its investor and close partner Microsoft by 2030 than it currently does, The Information reported, citing financial documents. The news comes after OpenAI this week changed tack on a major restructuring plan to pursue a new plan that would see its for-profit arm becoming a … Read more
An executive cautioned during Microsoft’s earnings call on Wednesday that customers might face AI service disruptions as demand outstrips the company’s ability to bring data centers online. Microsoft’s EVP and CFO Amy Hood said during the company’s fiscal 2025 third-quarter earnings call that the company may face AI capacity constraints as early as June. “We … Read more
Merck is following Johnson & Johnson’s lead and reporting an expected financial hit from tariffs imposed by the Trump administration. In an April 24 earnings call, executives said they expect $200 million in tariff-related costs in 2025. Merck lowered its full-year profit expectations from $8.88–$9.03 per share to $8.82–$8.97 per share. The news comes a week after J&J executives … Read more
President Donald Trump’s trade policies will have a negative impact on Google parent Alphabet‘s core advertising business, an executive from the company said Thursday. Alphabet, which reported stronger-than-expected revenue in its first quarter of the year, faces an online ads market that’s on edge due to concerns about how Trump’s tariffs will affect the economy … Read more
As 2024 came to an end, the German arms contractor Rheinmetall was toasting an order book that had reached a record €55 billion ($63 billion). In five years’ time, that sum will look like pocket change, provided its CEO’s ambitions come anywhere close to being realized. Armin Papperger, Rheinmetall’s CEO, is bullish on the company’s … Read more
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C. Evelyn Hockstein | Reuters JPMorgan Chase CEO Jamie Dimon said Friday that he expects estimates for corporate earnings to fall amid the … Read more
Australia's Albanese expects 'one-on-one' discussion with Trump on tariffs
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