Bank of America
Wall Street job cuts loom as market turmoil stalls deals
U.S. investment banks are poised to cut more jobs if economic uncertainty continues to weigh on dealmaking in the months ahead, according to analysts and recruiters.
AI
Alphabet to buy Wiz for $32 billion in its biggest deal to boost cloud security
Alphabet said it would buy Wiz for about $32 billion in its biggest deal as the Google parent looks to sharpen its edge in the cloud-computing race against Amazon.com and Microsoft.
Adam Turnquist
As US chip darlings struggle, some bet on software as next big AI play
Chip stocks were the biggest beneficiaries of last year’s artificial intelligence investment craze, but they have stumbled so far this year.
$4 trillion market valuation
Apple approaches $4 trillion valuation as investors bet on AI momentum
Apple is closing in on a historic $4 trillion stock market valuation, powered by investors cheering progress in the company’s long-awaited AI enhancements.
AJ Bell
Disney to name CEO Bob Iger’s replacement in 2026, taps Morgan Stanley’s Gorman as chair
Walt Disney named Morgan Stanley veteran James Gorman as chair and said it would announce a replacement for CEO Bob Iger in early 2026.
Asset Managers
Robinhood launches desktop platform, adds futures and index options trading to app
Robinhood launched its long-awaited desktop platform and added futures and index options trading features to its mobile app on Wednesday.
automation
Over 45 Container Ships Stalled Outside U.S. Ports As ILA Strike Enters Third Day
At least 45 container vessels were anchored outside U.S. ports on Thursday as a massive strike by dockworkers stretching from Maine all the way to Texas entered its third day.
$160
U.S. Economy Added 142K Jobs In August, Falling Below Expectations
The latest job growth report showed that job additions in August increased but missed economists’ estimates, with the unemployment rate staying nearly the same.
Artificial Intelligence
Intel board member quit after differences over chipmaker’s revival plan
The sudden resignation of a high-profile Intel board member came after differences with CEO Pat Gelsinger and other directors over what the director considered the U.S. company’s bloated workforce.
autonomy
Report: 2 Bodies Recovered From Sunken Bayesian Superyacht
Two bodies have been found inside the wreckage of the Bayesian superyacht as divers continue to look for four others who have been confirmed missing since the massive yacht sank off the coast of Italy on Monday.