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'Unfortunately, your role has been eliminated': Meta leadership in email to employees
Meta has initiated significant layoffs, impacting thousands globally as roles are eliminated to enhance efficiency and fund AI investments. Employees are informed via email about severance, visa support, and system access termination. A non-working notice period is in effect, with continued pay and benefits until the termination date. Outplacement services are also provided.
Fed Minutes Show More Officials Warned of Rate-Hike Scenario
A majority of Federal Reserve officials warned the central bank would likely need to consider raising interest rates if inflation continued to run persistently above their 2% target, minutes of the April 28-29 Federal Open Market Committee meeting showed. Mike McKee reports. (Source: Bloomberg)
OpenAI Is Preparing to File for an IPO in the Coming Weeks
OpenAI is preparing to file for an initial public offering in the coming weeks and is targeting a public debut sometime in the fall. The exact timing remains uncertain. The ChatGPT creator, co-founded by Sam Altman, is one of the world's most valuable and powerful AI companies. Bloomberg's Ed Ludlow has all the details. (Source: Bloomberg)
More Private Cos. Getting Acquired: Evercore's Kiely
Tammy Kiely, senior managing director in technology investment banking at Evercore, and Wally Cheng, head of global technology M&A at Morgan Stanley, join Dani Burger on "Bloomberg Deals. (Source: Bloomberg)
UK agrees £3.7bn trade deal with six Gulf states
UK agrees £3.7bn trade deal with six Gulf statesJust nowShareSaveAdd as preferred on GoogleEmer MoreauBusiness reporterGetty ImagesThe Prime Minister met Jasem Mohamed Albudaiwi, secretary general of the GCC, in Downing StreetThe UK has struck a trade deal with a group of six Gulf states which it says will be worth £3.7bn to the economy.The government said the deal with Oman, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE) will remove an estimated £580m a year in tarif...
BlackRock Private Credit Fund’s Valuations Are Probed by DOJ
Bloomberg's Olivia Fishlow joins Dani Burger and Scarlet Fu on "Bloomberg Deals." Federal prosecutors are scrutinizing valuation practices at a BlackRock private credit fund, according to people with knowledge of the matter. (Source: Bloomberg)
NFL's Browns Said to Sell Stake at Valuation Over $9B
Bloomberg's Randall Williams joins Dani Burger on "Bloomberg Deals." The Cleveland Browns said it sold a stake to Arctos Partners. The total investment is said to be for 10% of the club at a valuation of more than $9 billion, according to people familiar with the matter. (Source: Bloomberg)
NFL's Commanders, Raiders Shift Ownership Stakes
Doug Ostrover, the billionaire co-founder of Blue Owl Capital is unloading his stake in the NFL’s Washington Commanders. Also, Tech billionaire Michael Dell and Hollywood superagent Ari Emanuel are among a group of investors purchasing a minority stake in the Las Vegas Raiders football team. Scarlet Fu reports on "Bloomberg Deals." (Source: Bloomberg)
Welcome to the Victor Wembanyama economy. Plus: Should I 'buy' a sports bar?
Welcome back to MoneyCall, The Athletic’s weekly sports business cheat sheet.Name-dropped today: Victor Wembanyama, Louis Vuitton, Josh D’Amaro, Carlos Alcaraz, Aaron Rai, Jenny Nguyen, Katherine Legge, Caitlin Clark and more. Let’s go:Driving the ConversationWelcome to Wemby’s worldWith his Game 1 performance in the NBA’s West finals, Victor Wembanyama just solidified himself as the premier must-see spectacle in sports. That’s amid a jam-packed sports year including the Winter Olympics and Worl...
Fed officials’ concerns about inflation sparked talk of rate hike during last meeting
EconomyFed officials’ concerns about inflation sparked talk of rate hike during last meetingInflation pressures have been aggravated by the U.S.-Israel-led war against Iran.Listen to this article with a free account00:0000:00Marriner S. Eccles Federal Reserve Board Building in in Washington, D.C. Andrew Harnik / Getty ImagesShareAdd NBC News to GoogleMay 20, 2026, 2:36 PM EDTBy ReutersFederal Reserve officials’ concerns about inflation being stoked by the Iran war intensified last month, with a...
What sagging bond prices are telling us about the U.S. economy
MoneyWatch Bond prices are down, yields are down and investors are on edge. Here's what that means for the economy. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today...
Minutes Show Fed Officials Warned of Possible Rate Hike
A majority of Federal Reserve officials warned the central bank would likely need to consider raising interest rates if inflation continued to run persistently above their 2% target, minutes of the April 28-29 Federal Open Market Committee meeting showed. Mike McKee reports. (Source: Bloomberg)
Oil tumbles as Trump says Iran war is in its ‘final stages’
Oil tumbles as Trump says Iran war is in its ‘final stages’
Summer travelers face "vacation inflation" as airfare, gas prices rise
MoneyWatch Summer travelers face "vacation inflation" as airfare, gas prices rise .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Megan Cerullo Megan Cerullo Reporter, MoneyWatch Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting. Read Full Bio Megan Cerullo May 20, 2026 /...
Sick notes 'scrapped' as part of new plans to reduce benefits claims and combat Britain's worklessness
A Government pilot scheme launching in July will remove GPs from the sick note process in certain circumstances, instead directing patients to "social prescribers" who can suggest alternatives to being signed off work.Under the trial programme, workers experiencing health difficulties will be referred to social prescribers operating within their GP surgeries. These specialists will connect patients with support options including fitness programmes and employment coaching designed to help them re...
Everton expected to finalise CMC Markets deal to replace Stake as primary shirt sponsor
Everton are expected to finalise a deal with CMC Markets which will see the financial services firm replace Stake on the front of their shirt from next season.The Merseyside club have been looking for a new sponsor to replace Stake, the Australian bookmaker and online cryptocurrency casino, with new government legislation prohibiting logos of gambling firms from appearing on the front of Premier League shirts from next season.Advertisement
Bipartisan home affordability bill passes the House
Business Bipartisan home affordability bill passes the House May 20, 20261:37 PM ET By Stephan Bisaha House Financial Services Committee ranking member Rep. Maxine Waters, D-CA., and Chair French Hill, R-AR., listen to a hearing on Capitol Hill on June 24, 2025. Chip Somodevilla/Getty Images hide caption toggle caption Chip Somodevilla/Getty Images Stay up to date with our Up First newsletter sent every weekday morning. Republicans and Democrats in the House voted Wednesday to pass a bill to ad...
Scrap stamp duty and council tax to fix London's housing crisis, think tank says
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Global EV market goes K-shaped as the U.S. gets left behind
All that doom and gloom about the state of the electric vehicle market? That’s just an American problem. The rest of the world can’t get enough EVs, according to a new report from the International Energy Agency. EV sales surpassed 20 million units last year, capturing 25% of the global market. Growth was highest in China and market share in other regions has also been picking up pace. In Latin America, for example, sales grew by 75%. Meanwhile, sales in the U.S. are stagnant, with EVs hovering...
Target Tempers Expectations After Best Sales Gain in Years
Target Corp.’s turnaround gained traction last quarter, but the retailer worried investors after striking a more cautious tone about the coming months. The company that has been struggling to revive growth after a pandemic-fueled boom showed Wednesday that it’s making progress. Comparable sales jumped 5.6% last quarter, the biggest increase since the end of 2021 and triple the gain analysts were expecting. The chain also raised its annual revenue guidance by 2 percentage points to about 4%. Tar...