Business

363 articles · page 3 of 8

Business

Salesforce blames Anthropic Claude spending for dented profit margin guidance

Salesforce has blamed its heavy spending on Anthropic's Claude AI model for a drop in its full-year operating margin guidance, with a senior finance executive telling investors last week that token costs were sufficient to manage expectations. The CRM giant's operating margin is forecast at 20.1 percent for the full year, down from 20.5 percent in the second quarter, as the company pours resources into AI development.

4 Sept 2026
Business

Intel drops 44-year-old 'Fellow' title for top scientists, replaces with 'Distinguished Engineer'

Intel has told employees it will no longer award the 'Fellow' title to its top scientists and engineers, replacing it with 'Distinguished Engineer' as part of a cultural shift that requires technical leaders to deliver measurable business outcomes. The change, announced last week by Intel CTO Pushkar Ranade, affects compensation only in form—salaries remain unchanged—but signals a new standard of technical leadership combining deep expertise with strategic vision and 'measurable tactical progress.'

3 Sept 2026
Business

NBA fines LA Clippers record $30m, strips five first-round picks over Kawhi Leonard pay scandal

The NBA has imposed the largest fine in league history — $30 million (£22.2m) — on the LA Clippers and stripped the franchise of five first-round draft picks after an investigation found the team violated salary cap rules to funnel millions of dollars to star player Kawhi Leonard through off-court endorsement deals. Commissioner Adam Silver called the violations 'flagrant' and said the severity of the penalties reflects the seriousness of the misconduct.

3 Sept 2026
Business

Chevron Expands Venezuela Oil Operations with $7 Billion Investment

Chevron announced early Wednesday that it has secured additional acreage in Venezuela's Orinoco Belt and plans to invest more than $7 billion over the next five years, significantly expanding its operations in the country. The deal, formalized alongside Italy's Eni in Caracas, is expected to double Chevron's current output, building on its position as the only major U.S. oil firm with a significant presence in Venezuela.

3 Sept 2026· 4 sources
Business

Thrive Capital’s Kushner Defends FIFA Deal Involvement, Hires Musk’s Go-To Lawyer

Thrive Capital founder Josh Kushner has broken his silence on the venture firm’s involvement in the failed FIFA Forward Enterprise plan, issuing a statement defending the soundness of the original idea while acknowledging the controversy has escalated beyond what his firm anticipated. Kushner has also retained Alex Spiro, the high-profile attorney known for representing Elon Musk, as the European football association UEFA pursues legal action against FIFA President Gianni Infantino over the proposed $20 billion entity.

2 Sept 2026
Business

Top Pentagon AI official sold millions in Perplexity stock, new filings show

The Pentagon’s senior official overseeing military artificial intelligence policy, Emil Michael, sold between $5 million and $25 million worth of stock in the AI search company Perplexity earlier this year, according to financial disclosures seen by the Guardian. The sale comes after Michael reaped up to $24 million selling his stake in Elon Musk’s AI firm xAI in January, raising fresh questions about potential conflicts of interest at the highest levels of US defence AI governance.

2 Sept 2026
Business

WA regulator investigates big batteries over 'unusual' pricing behaviour

Western Australia's economic regulator has launched an investigation into the pricing activities of the state's fleet of large-scale batteries, following episodes where coordinated charging appeared to drive up wholesale electricity prices. Economic Regulation Authority (ERA) chair Steve Edwell confirmed the agency was probing 'unusual behaviours' in the market, with a particular incident seeing spot prices spike from $120 to more than $350 per megawatt hour after midnight charging by batteries owned by state-controlled utility Synergy.

2 Sept 2026· 2 sources
Business

GoPro Acquired for $285M by Starman Optical, Pivots Toward Defense and U.S. Manufacturing

GoPro, the once-dominant action camera maker that has struggled financially for years, has agreed to be acquired by Starman Optical for $285 million. The deal, announced Tuesday, will leave GoPro shareholders with roughly 10% of the newly combined company, wipe away $92 million in outstanding debt, and position the company to pursue growth in consumer, commercial, and defense markets — including onshoring manufacturing of optical components to the United States.

2 Sept 2026
Business

Waymo challenges Tesla's autonomous approach ahead of Cybercab launch

Waymo has gone on the offensive ahead of Tesla's expected Cybercab unveiling, arguing in a blog post and interview that fully autonomous vehicles require a mix of sensors and that pure end-to-end AI systems are not safe enough — a direct challenge to Tesla's camera-only approach. The criticism comes just one week before Tesla's September 3 event, where it is expected to formally introduce its two-seater Cybercab robotaxi, and as Waymo expands into three new U.S. cities.

2 Sept 2026
Business

Apple CEO Tim Cook Steps Down, John Ternus Takes Over as September 1st Transition Begins

Apple has officially handed over the CEO role from Tim Cook to John Ternus as of September 1st, marking the end of Cook's 13-year tenure and the beginning of a new leadership era. Cook will remain with the company as Executive Chair, serving on the board of directors. Ternus, previously Apple's hardware chief, now takes the helm just days before the company's next iPhone launch event scheduled for September 9th.

2 Sept 2026· 2 sources
Business

Florida and Texas Move to Ban Flock Surveillance Cameras Over Privacy and Abuse Concerns

Florida and Texas have ordered state agencies to stop funding and using automated license plate readers from surveillance company Flock, citing escalating concerns over privacy violations, police abuse of the system, and the technology's expanding use to track individuals rather than just vehicles. Florida’s Department of Transportation issued a memo Monday giving the state 30 days to remove the cameras from highways, following Texas Governor Greg Abbott’s order last week to halt state funding for the devices.

2 Sept 2026
Business

Apple's New CEO John Ternus Receives Day-One Briefing: Hardware Status and Siri Delay on Agenda

John Ternus officially began his tenure as Apple’s CEO today, greeted by a day-one briefing memo that outlines the company’s hardware divisions and flags a delay in the long-awaited Siri update from the Apple Intelligence team. The memo, addressed to Ternus and obtained by The Verge, combines a welcome to his new office — described as a Jony Ive design with door-handle-free doors — with a summary of the business and a note that the Siri discussion has been postponed, with the team promising they are 'for real' this time.

1 Sept 2026