Gen Z entrepreneurs are using AI to accelerate the creation of new businesses, per a Gusto report.
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Gen Z entrepreneurs are using AI to accelerate the creation of new businesses, per a Gusto report.
Microsoft's Xbox division is undergoing a significant "reset" with 3,200 layoffs and the divestment of five acquired studios. New CEO Asha Sharma cited a need to "simplify" the bloated division and refocus on "industry-defining franchises" after years of underperforming investments in smaller studios and Game Pass.
Sheldon Mills, an executive director at the UK's Financial Conduct Authority, warns of an "arms race" in AI use in financial services, urging greater regulatory powers and a review of large language models. His report highlights both benefits like "hyper-personalization" and risks such as fraud and manipulation, advocating for human accountability.
Microsoft cut approximately 4,800 jobs, 2.1% of its global workforce, impacting Xbox and commercial sales the most. This move, with 1,600 roles eliminated at Xbox, is framed as a necessary restructure due to industry changes and AI integration, despite assurances that AI is not directly replacing these roles.
Compulsion Games is returning to independent management after its time with Xbox. The studio will retain the rights to its games: Contrast, We Happy Few, and South of Midnight. They expressed gratitude for their years with Xbox and excitement for the future.
AI stocks led a rebound on Wall Street, sending the S&P 500 and Nasdaq higher, despite a majority of stocks falling. Broadcom, Micron, and AMD saw significant gains. Oil prices drifted after OPEC+ announced production increases, while global markets showed mixed performance.
Apple has reinstated card payments for Apple Account purchases in India, over four years after suspending the option. This move adapts to India's digital payment regulations, allowing users to use Visa and Mastercard for subscriptions and App Store purchases.
