Artificial intelligence could make many jobs like cashiers and drivers obsolete – leading to widespread social unrest, according to a senior Wall Street finance executive. Armen Panossian, a co-CEO of Los Angeles-based investment firm Oaktree Capital Management, told Bloomberg News that AI poses “the biggest risk” because while it “clearly has the potential for very … Read more
Warner Bros. Discovery said on Wednesday it wrote down the value of its television assets due to uncertainty over fees from cable and satellite distributors and sports rights renewals, sending its shares down nearly 10% in extended trading. The film and entertainment studio, which owns sports network TNT and streaming service Max, recorded a $9.1 … Read more
Microsoft blamed Delta Air Lines on Tuesday for its day-long struggle to recover from a global cyber outage that caused it to cancel more than 6,000 flights. A software update last month from global cyber security firm CrowdStrike caused system problems for Microsoft customers, including many airlines. But disruptions eased the next day at other … Read more
A trio of top OpenAI executives have left their positions in the latest leadership shakeup at CEO Sam Altman’s firm. Greg Brockman, the president of OpenAI and one of its 11 co-founders, revealed that he will be taking an extended leave of absence until the end of the year. “I’m taking a break until the … Read more
Megyn Kelly slammed Minnesota Gov. Tim Walz as the “most radical” choice for 2024 vice-presidential running mate Kamala Harris — mocking him as “Tim Tampon” for offering free period products to boys. “I’ve been thinking about Walz since yesterday. He’s the most radical they could find on the trans issue,” the former NBC and Fox … Read more
CNN “Reliable Sources” writer Oliver Darcy surprisingly left the struggling cable network Thursday, saying he plans to launch a rival media newsletter. Darcy, 33, who has often criticized his network, had written “Reliable Sources” since CNN fired former newspaper writer Brian Stelter in 2022. Darcy said his subscription-based newsletter, Status, will be a separate effort. … Read more
Paramount Global wrote down the value of its cable networks by nearly $6 billion and announced it would cut 15% of its jobs on Thursday, even as the company’s broadcast business reported its first quarterly profit. Paramount shares rose more than 5% in extended trading. The loss reflects a shrinking audience for cable TV networks … Read more
A German flying taxi maker canceled plans to transport passengers with its futuristic drones during the Paris Olympics due to delays in certifying its engine, according to the company. Volocopter, a maker of personal aerial vehicles, had been testing flying taxis in the Paris region for several years and lobbied European authorities to allow it … Read more
News Corp beat Wall Street estimates for fourth-quarter earnings on Thursday, boosted in part by growth in digital subscriptions at its Dow Jones business. The New York-based media giant, which owns The Post, Wall Street Journal and Dow Jones, said revenue in the quarter ended June 30 rose 6% to $2.58 billion, compared with $2.43 … Read more
Google and Meta reportedly struck a secret deal to target minor YouTube users with ads promoting rival Instagram service — breaking the internet search giant’s own ad rules, according to a bombshell report Thursday. The Instagram ad campaign was aimed at YouTube users who were classified as “unknown” in Google’s advertising system and designed to … Read more