Author: Grace Johnson

OpenAI has finalized its transformation into a for-profit company. The shift aims to attract massive investment and could set the stage for a future stock market debut. Microsoft redefines its partnership with OpenAI As part of the restructuring, OpenAI and Microsoft have updated their long-standing partnership. Microsoft now holds a 27% stake in the ChatGPT developer. This marks a major change in their relationship, which began in 2019 when OpenAI was still a non-profit AI research group. Under the revised deal, Microsoft can now pursue artificial general intelligence (AGI) either independently or with other partners. AGI is typically defined as…

Amazon is preparing for a massive wave of layoffs targeting its corporate workforce, according to several media reports. The job cuts could begin as soon as this week. Both The Wall Street Journal and Reuters report that the company plans to eliminate up to 30,000 positions. The move is part of a cost-cutting campaign led by chief executive Andy Jassy as Amazon seeks to streamline operations. Amazon declined to issue a statement when contacted by international news outlets. Biggest round of layoffs in recent memory If confirmed, the cuts would be among the largest announced by any major company in…

Real Madrid came close to perfection in El Clasico. Xabi Alonso’s side defeated Barcelona 2-1 and moved five points clear at the top of La Liga. Jude Bellingham scored his first league goal and added an assist after recovering from shoulder surgery. Kylian Mbappé continued his ruthless form in front of goal. Alonso’s tactical plan, in his first Clasico as coach, worked brilliantly. But the night was overshadowed by Vinicius Jr’s fury after being substituted. The Brazilian reacted angrily when taken off in the 72nd minute. He ignored Alonso, stormed down the tunnel, and returned minutes later still frustrated. Spanish…

Los Angeles International Airport (LAX) has experienced flight delays due to a shortage of air traffic controllers. The Federal Aviation Administration (FAA) is taking steps to address the staffing gap and minimize disruptions for travelers. The shortage has affected departures across multiple terminals, causing delays for both domestic and international flights. Airlines reported longer wait times and schedule adjustments as the FAA works to manage traffic safely. FAA officials said the staffing challenges are temporary and are being addressed through increased scheduling flexibility, overtime, and temporary personnel assignments. The agency emphasized that safety remains its top priority. Airline representatives noted…

Douglas Elliman has completed the sale of its property management division to Associa for $85 million. The move is part of a strategy to streamline operations and allow the company to focus on its core real estate services. The transaction is expected to enhance efficiency by concentrating resources on brokerage and related services, while Associa takes over the property management operations. Industry analysts view the deal as a strategic step for both companies, aligning with long-term growth objectives. Douglas Elliman, a major player in the U.S. real estate market, has been expanding its core services in recent years, emphasizing brokerage,…

US President Donald Trump has raised tariffs on Canadian goods after Ontario aired an anti-tariff advertisement featuring former US President Ronald Reagan. Trump branded the advert a “fraud” and criticised Canadian officials for refusing to remove it before the World Series baseball championship. “Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now,” he wrote on social media on Saturday. Trade relations between US and Canada hit new low Trump had already pulled out of trade talks with Canada on Thursday. Ontario…

Beef prices in the United States have reached record highs, creating a growing political problem for Donald Trump. The former president, who once declared inflation “dead,” now faces mounting criticism as the cost of beef threatens his promise to bring grocery prices down. This week, he urged ranchers on social media to lower their cattle prices. But his message — and his administration’s ideas — have drawn backlash from ranchers, who warn that his plans could devastate producers without reducing costs for shoppers. Fewer ranchers, fewer cows, higher prices The US cattle industry has been shrinking for decades. The number…

US President Donald Trump will meet Chinese President Xi Jinping in South Korea on 30 October. The White House confirmed the high-level meeting, which will take place alongside a major Asian summit. Officials from both sides have been preparing the encounter for weeks, though rising tensions between Washington and Beijing almost jeopardized it. This will be their first face-to-face meeting since Trump returned to the White House. Trump recently threatened to impose a 100% tariff on Chinese imports starting in November if Beijing refuses to ease its new restrictions on rare earth exports. White House sets the stage for key…

Tesla posted record revenue in its latest quarter but saw profits plunge. The company’s earnings were dragged down by higher tariffs, growing research costs, and fierce competition in the electric vehicle market. Record revenue fails to stop profit slide For the three months ending in September, Tesla reported $28 billion (£21 billion) in revenue, up 12% from last year. Despite this record figure, profits fell by 37%. Rising tariffs and increased research spending were the main reasons for the decline. Investors reacted with caution. Tesla’s shares dropped 3.8% in after-hours trading after the announcement. Still, the company’s market value remains…

Donald Trump said he did not want a “wasted meeting” after plans for direct talks with Russian President Vladimir Putin over the war in Ukraine were put on hold. Speaking at the White House on Tuesday, the US president said Moscow’s refusal to stop fighting along the current front line remained the main barrier to progress. Washington halts preparations for Budapest summit A White House official confirmed there were “no plans” for a Trump-Putin meeting “in the immediate future.” The comment followed Trump’s earlier announcement that the two leaders would meet in Budapest within two weeks. This week exposed growing…