Author: News Room
When CoreWeave, the cloud computing company vying to become the first major artificial intelligence start-up to go public, filed paperwork for a public listing earlier this month, it was a mark of optimism in an otherwise rocky market for I.P.O.s.But now that optimism has faded as the New Jersey-based CoreWeave significantly reduced the size and value of its offering on Thursday. The company is now expected to price its shares at $40 when it begins trading on Friday, according to the company, down from recent estimates in filings that its shares would be priced at $47 to $55 a share.Initially…
All aircraft flying near Ronald Reagan National Airport will now be required to broadcast their positions to air traffic controllers, the acting administrator of the Federal Aviation Administration told a Senate subcommittee on Thursday.The policy, which took effect on Thursday, was put in place after it was revealed that technology in an Army helicopter that collided with a passenger jet near the airport in January was turned off at the time of the deadly crash.Known as the Automatic Dependent Surveillance-Broadcast Out, the technology broadcasts an aircraft’s position, altitude and speed, and it could have allowed air traffic controllers to better…
Amazon’s longtime head of film and television, Jennifer Salke, is stepping down from her position after seven years on the job, the company said on Thursday, a sudden move that shakes up the top ranks of the streaming giant.Ms. Salke will move into a producing deal at Amazon and will not be replaced, Mike Hopkins, head of Prime Video and Amazon MGM Studios, said in a staff memo. Instead, he added, he has decided to operate distinct film and television studios. Courtenay Valenti will continue to oversee film while Vernon Sanders will remain atop television.“Jen has decided that her next…
President Trump and his supporters have clashed with mainstream economists for years about the merits of tariffs. Now, the world will get to see who is right, as the president’s sweeping levies on automobiles and auto parts play out in a real-time experiment on the global economy.In Mr. Trump’s telling, tariffs have a straightforward effect: They encourage companies to move factories to the United States, creating more American jobs and prosperity.But for many economists, the effect of tariffs is anything but simple. The tariffs are likely to encourage domestic car production over the long run, they say. But they will…
The elite law firm Skadden, Arps, Slate, Meagher & Flom has had discussions with President Trump’s advisers about a deal to avert the type of executive order that the White House has been imposing on many of its competitors, according to five people briefed on the matter who were not authorized to speak publicly about private conversations.The talks represent an extraordinary turn in Mr. Trump’s campaign against law firms and the legal system more broadly, marking what appears to be the first time that a major firm has tried to cut a deal with the president before he could issue…
new video loaded: World Leaders React to Trump’s Auto TariffstranscriptBacktranscriptWorld Leaders React to Trump’s Auto TariffsPresident Trump’s announcement of 25 percent tariffs on imported cars and auto parts prompted world leaders to rebuke the decision.“It’s my solemn promise that when President Trump threatens us again, we will fight back. We will fight back with everything we have to get the best deal for Canada.”Recent episodes in BusinessShow more videos from Business
There is no doubt the tariffs that President Trump said he would impose on imported cars, trucks and auto parts next week will raise prices by thousands of dollars for consumers.What is not clear is how soon those increases will kick in, how high they will go and which models will be affected the most.The tariffs — 25 percent on imported vehicles and automotive parts — are supposed to take effect next Thursday. But many car dealers said they were putting aside the question of price increases for now to focus on ending March with a sales flourish in the…
Animated movies, like those from the famed Japanese filmmaker Hayao Miyazaki, are not made in a hurry. The intricate hand drawings and attention paid to every single detail can make for a slow, potentially yearslong process.Or, you could simply ask ChatGPT to turn any old photo into a facsimile of Mr. Miyazaki’s work in just a few seconds.Many people did precisely that this week after OpenAI released an update to ChatGPT on Tuesday that improved its image-generation technology. Now, a user who asks the platform to render an image in the style of Studio Ghibli could be shown a picture…
It attributed some of the problem to an aging population, as more seniors receive retirement payments from Social Security and health insurance through Medicare. Congressional analysts anticipate that the demand for Social Security may exhaust its trust fund in 2034, threatening seniors’ benefits, while the primary trust fund for Medicare could run out in 2052.Yet there remains little appetite in Washington for a fight over these social safety net programs. While the Trump administration maintains it does not plan to cut Social Security, Medicare or Medicaid, the president and his allies have attacked the programs in recent weeks as a…
As for movies?Mr. Zaslav acknowledged that film is “a tough business” at a Morgan Stanley conference this month, and seemed to ask for a bit more patience. “It’s a long-cycle business, and we’ve been winding out of what wasn’t ours,” he said, a reference to flops like “War of the Rohirrim” and “Mickey 17,” which were given a green light before he arrived. “Over the next few years you’re going to see what is ours, and I’m optimistic about it.”The next Warner Bros. release, “A Minecraft Movie,” could break out when it arrives next week, box office analysts say. “Minecraft,”…