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OpenAI may move forward with new business structure, partnership with Microsoft, regulator says
OpenAI said Tuesday it has reorganized its ownership structure and converted its business into a public benefit corporation and a crucial regulator, the Delaware attorney general, said she approved the plan. The restructuring paves the way for the ChatGPT maker to more easily profit off its artificial intelligence technology even as it remains technically under […]
Fed expected to cut interest rate again Wednesday
The Federal Reserve is expected to cut its key rate Wednesday, likely followed by another in December to support U.S. hiring.
UPS cuts 48,000 jobs in the year to date as its turnaround continues
UPS cut about 34,000 jobs and closed 93 facilities this year as part of its cost-cutting turnaround and restructuring plan.
Amazon cuts 14,000 corporate jobs as spending on artificial intelligence accelerates
Amazon will cut about 14,000 corporate jobs as it reduces bureaucracy and boosts investment in artificial intelligence.
Wall Street rallies to more records as gold’s price slumps again
U.S. stocks surged to record highs as investors awaited a Trump-Xi meeting and the Federal Reserve’s next interest rate decision.
US home sales accelerated in September to their fastest pace since February as mortgage rates eased
Existing U.S. home sales rose 1.5% in September as lower mortgage rates and more listings boosted buyer activity.
Average long-term US mortgage rate drops to 6.19%, lowest level in more than a year
The average 30-year mortgage rate dropped to 6.19%, its lowest since October 2024, as inflation and Fed policy ease pressure.
Boeing defense workers reject offer, extend strike
Boeing defense machinists in Illinois and Missouri rejected a new contract offer, extending a nearly three-month strike.
Government shutdown continues to add to stress on air traffic controllers and disrupt flights
Flight delays spiked nationwide as the government shutdown forces unpaid air traffic controllers to work under mounting stress.
Target is eliminating 1,800 corporate jobs as it looks to reclaim its lost luster
Target will lay off 1,800 corporate employees, mostly in Minneapolis, as the retailer streamlines operations before a CEO transition.
