The artificial intelligence hype train continues to steam down the tracks, as Bloomberg reported that the largest venture capital fundraising round of all time–for none other than OpenAI–is on the verge of completion. The $6.5 billion funding round values OpenAI at $150 billion, up from $86 billion in an earlier round, according to Bloomberg, which…
Today, Warner Bros. Discovery announced that Kathleen Finch is retiring as chairman and CEO, US Networks, after 25 years with the company. She will be replaced by Channing Dungey, Warner Bros. Television Group chairman and CEO. Among Finch’s duties at Warner Bros. Discovery, the executive oversaw animation cable networks Adult Swim and Cartoon Network as…
After President Joe Biden ended his 2024 presidential campaign, the Democratic Party has a new challenge: quickly reintroducing Vice President Kamala Harris as the next president. Since Biden dropped out of the race on July 21, a majority of Democratic delegates have endorsed Harris, making her the likely candidate to run against Republican former President…
Global advertising will grow 7.8% and reach $989.8 billion by the end of this year, according to WPP media investment firm GroupM’s This Year Next Year 2024 Global Midyear Forecast. In 2025, the group expects growth to slow down to a 6.8% rate, but reach a new milestone when spending hits $1.1 trillion. A more…
Mastercard developed an inclusive generative AI chatbot catering to the diverse entrepreneurial needs of small and midsized businesses. People can ask Mastercard Small Business AI an array of questions in English and Spanish. Inquiries can span topics around crafting a business plan, exploring available grants for SMBs, guidance on the application process for those grants,…
Once valued at a mighty $47 billion, WeWork has filed for Chapter 11 bankruptcy in New Jersey. Despite sinking billions into the business, majority investor SoftBank has cut its losses after a tough four years, exasperated by both post-pandemic working trends and the impact of rising interest rates on the commercial property market. In the…
As if their initial round of job layoffs and cost cutting measures were not enough, Japan car manufacturer Toyota has even pushed itself more as far as its North America channel is concerned. The new actions are consistent with the company’s philosophy of making every effort to protect jobs during the sales downturn.
“We’ve taken responsible, step-by-step actions to address this issue in recent months, and we hope the new measures will help us adjust while protecting jobs,” said Jim Wiseman, vice president of external affairs for Toyota Motor Engineering & Manufacturing North America (TEMA). “This philosophy of shared sacrifice is the best approach for us, and hopefully will make us a stronger company in the long term.”
The additional steps were the following:
(Source) Press
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