Category: Latest Articles

Starbucks has rejected speculation that it is in talks with private equity firms to sell the entirety of its China operations as it faces slowing sales and intensifying competition from domestic rivals. “We have a world-class team in China, and a strong brand,” the Seattle-based coffee chain said in a statement on Tuesday. “We see…

General Motors is temporarily laying off 200 workers at its Factory Zero assembly plant in Detroit due to market adjustments. The plant, which employs approximately 4,537 workers, is the first fully dedicated all-electric facility and has received over $2.5bn in investment. According to GM, the layoffs are not related to recent auto tariffs but are…

Former Facebook executive Sarah Wynn-Williams has accused the Meta-owned social media giant of “betraying U.S. values” and undermining national security by collaborating with the Chinese government on U.S. artificial intelligence projects. Testifying before the Senate Judiciary Committee, she accused Meta of briefing China on U.S. AI efforts in order to grow its business there. “We…

Harley-Davidson announced on Tuesday that Jochen Zeitz plans to step down as chief executive, effective when a successor is appointed. During his tenure, Zeitz has boosted Harley’s profit but has seen sales of the bikes continue to decline. The company last year sold 151,000 motorcycles worldwide, less than half as many as it sold in…

Bank of America is allocating $4bn — nearly a third of its overall technology budget for this year — toward new initiatives including artificial intelligence. BofA said Erica for Employees, the bank’s internal AI chatbot built on the customer-facing Erica, is being used by more than 90% its 213,000 employees, and this has reduced IT…