Latest in General Motors Cuts Funding to Cruise, Nixing Its Robotaxi Plan
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Indonesia’s plan for wealth fund controlled by president stirs concern
‘Super-holding’ company intended to support Prabowo Subianto’s strategic projects and boost growthFinancial Times - 2h -
Tommy Bahama maker Oxford depends on Florida for sales. It just cut its outlook following hurricanes Milton and Helene.
Shares of Oxford Industries sank after hours Wednesday after the maker of Tommy Bahama and Lilly Pulitzer clothing cut its full-year forecast — citing the impact of hurricanes Milton and Helene on ...MarketWatch - 9h -
Here’s how big a hit Microsoft is taking on its investment in GM’s Cruise
Microsoft warned investors it will book an impairment charge in its fiscal second quarter related to its investment in GM’s Cruise robotaxi unit back in 2021.MarketWatch - 9h -
Microsoft to Incur $800 Million Charge Tied to Cruise Robotaxi
Microsoft said it will record an $800 million impairment charge tied to its minority investment in General Motors’ now-scrapped Cruise robotaxi program.The Wall Street Journal - 9h -
Google forges ahead with its next generation of AI technology while fending off a breakup threat
Google has unleashed another wave of artificial intelligenceABC News - 10h -
GM to Shut Down Its Cruise Robotaxi Project
The company said it would now focus its efforts on developing fully autonomous vehicles for personal use.The New York Times - 14h -
GM Ends Cruise Robotaxi Efforts and Steers Its Self-Driving Tech to Passenger Cars
The Detroit auto giant says it’s halting its investment in Cruise’s robotaxi project at $4.4 billion, and integrating its technology into its own vehicles’ autonomous driving features.Inc. - 18h -
Nissan Motor Reshuffles Senior Management as Part of Turnaround Efforts
The Japanese automaker’s CFO Stephen Ma has been appointed as the chairperson of the management committee for China.The Wall Street Journal - 1d -
General Motors Scraps Cruise Robotaxi Program
Carmaker cites competition, time and costs needed to scale the business.The Wall Street Journal - 1d -
GM to retreat from robotaxis and stop funding its Cruise autonomous vehicle unit
General Motors says it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unitABC News - 1d -
General Motors Cuts Funding to Cruise, Nixing Its Robotaxi Plan
The automaker has sunk billions into making a self-driving car service work. Now it says it will focus on “personal” autonomous vehicles instead.Wired - 1d -
Democrats fear more IRS cuts in funding fight with GOP
The White House and congressional Democrats are fighting to protect $20 billion in funds for the IRS as the tax collection agency faces significant changes next year. As bipartisan funding talks ...The Hill - 20h -
FirstFT: Qatar’s sovereign fund plans to deploy cash ‘aggressively’
Also in today’s newsletter, Microsoft poaches Google DeepMind staff, and court blocks The Onion’s purchase of InfowarsFinancial Times - 21h -
GM gives up on loss-making Cruise robotaxi business
STORY: General Motors is giving up on its Cruise robotaxi business. The auto giant said Tuesday that it would end development at the loss-making unit, which had once been a top priority. GM said ...Yahoo Sports - 1d -
General Motors pulls plug on robotaxi business
After the announcement, the project's co-founder posted on social media "GM are a bunch of dummies."BBC News - 1d -
GM exits robotaxi market, will bring Cruise operations in house
General Motors will no longer fund its Cruise division's robotaxi development, effectively pulling out of the market.CNBC - 1d -
GM to stop funding troubled Cruise autonomous vehicle unit
General Motors says it will move away from the robotaxi business and cease funding its money-losing Cruise autonomous vehicle division that originated as a San Francisco start-up.CBS News - 1d -
OpenAI releases Sora, its buzzy AI video-generation tool
OpenAI said Monday it’s releasing its buzzy AI video-generation tool, Sora, later in the day.NBC News - 2d -
OpenAI releases Sora, its buzzy AI video-generation tool
OpenAI released its buzzy AI video-generation tool, Sora.CNBC - 2d -
OpenAI Just Released Its AI Video Generator, Sora
The feature has been called ‘horrifying and inspiring.’ Users in the U.S. can try it out today.Inc. - 2d -
‘It is ambitious, but ambition builds the world’: can the Gambia’s bold plan to cut plastic pollution work?
Tourists flock to the country’s dazzling beaches, but its vast, smoking waste sites tell a different story – one that the government is keen to change . Travelling through the Gambia, it is hard to ...The Guardian - 2d -
As Russia and China Rewrite Rules of War, NATO Adapts Its Game Plan
Cyber and energy security are priorities for the alliance’s new leader, as member nations share more intelligence to protect critical infrastructure.The Wall Street Journal - 4d -
JetBlue nixing routes between multiple major cities, reducing several others
Passengers relying on JetBlue routes between certain American cities may need to make alternate travel plans in the near future.The Hill - 4d -
Tyson sued for nixing promotion deal to fight Paul
Mike Tyson is being sued in a London court for nearly $1.59 million for allegedly breaking a deal to promote a gambling company in order to fight social media influencer-turned-prizefighter Jake Paul.ESPN - 5d -
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Waymo unveils plan to bring its robotaxi service to Miami
Waymo is gearing up to bring its robotaxi service to Miami which will accelerate an expansion that’s been happening while its hobbled rivals remain in its rearview mirrorABC News - 6d -
On Trump tax cuts, energy and immigration plans, clash emerges between House, Senate GOP leaders
Jason Smith, Chair of House Ways and Means, tells CNBC that his voting majority will be extremely slim for passing President-elect Trump's tax cut promises.CNBC - Dec. 5 -
General Motors Takes $5 Billion Hit From Ailing China Business
The charge marks the latest example of how global automakers are struggling in China as local consumers embrace electric vehicles from homegrown brands.The Wall Street Journal - Dec. 4 -
Will Trump nix Biden’s coverage plan for weight-loss drugs? It’ll be a close call.
While President-elect Donald Trump looks poised to scrap many policies of the Biden administration, one veteran analyst says it’s possible he could end up supporting the Democratic incumbent’s ...MarketWatch - Dec. 4 -
9 states poised to end coverage for millions if Trump cuts Medicaid funding
About 3.7 million people are at immediate risk of losing health coverage should the federal government cut funding for Medicaid expansions, as some allies of President-elect Donald Trump have ...CBS News - Dec. 4 -
Lloyds boss warns of UK ‘investability problem’ after motor finance ruling
Sector left reeling after court backs consumer complaints about ‘secret commissions’ on car loansFinancial Times - Dec. 4 -
I escaped Rwanda genocide as a baby. I returned to find my generation has buried its pain | Ornella Mutoni
My Guardian documentary, The Things We Don’t Say, focuses on complex stories of healing in a country where many are putting on a brave face. Watch The Things We Don’t Say I was six months old ...The Guardian - Dec. 3 -
Trump’s tax plans: Housing credits ‘in play,’ and there’s buzz over a short extension for expiring cuts
One veteran analyst is predicting that housing tax credits will get included in the GOP’s big tax package next year. Separately, some GOP lawmakers reportedly have talked about using the package to ...MarketWatch - Dec. 3
