Feed aggregator

Corporate Profits Surge as Companies Cut Nearly 1 Million Jobs

Slashdot.org - Fri, 11/07/2025 - 12:21
U.S. corporate profits have risen to record levels this year as companies eliminated nearly 1 million jobs. Chen Zhao of Alpine Macro calls the disconnect a "jobless boom." Companies typically cut workers when profits decline. Amazon laid off 30,000 employees despite strong earnings. Zhao attributes the pattern to AI adoption boosting productivity across industries while reducing demand for workers. Labor demand has fallen to zero growth or mild contraction. The Federal Reserve lowered interest rates in September and October after Jerome Powell noted concerns about layoff announcements from large employers. The Department of Labor suspended monthly employment reports when the government shutdown began October 1. ADP reported private employers added 42,000 workers in October. The unemployment rate stood at 4.3% in August. The rate has remained stable because the labor pool is contracting due to baby boomer retirements and reduced immigration under Trump administration policies. Art Papas of Bullhorn disputes the AI explanation and argues companies are recalibrating after pandemic overhiring.

Read more of this story at Slashdot.

Amazon Takes Low-Cost Ecommerce Service Global

Slashdot.org - Fri, 11/07/2025 - 11:49
An anonymous reader shares a report: Amazon on Friday expanded the reach of its low-cost ecommerce service to 14 additional markets and will call it Amazon Bazaar, as part of a push to compete with Chinese rivals including Shein and PDD Holding's Temu. The expansion of the service comes at a time when U.S. President Donald Trump's sweeping import tariffs are denting consumer sentiment, especially of lower-income groups, who are on a constant hunt for cheaper deals.

Read more of this story at Slashdot.

Rideshare Giant Grab Moves 200 Macs Out of the Cloud, Expects To Save $2.4 Million

Slashdot.org - Fri, 11/07/2025 - 11:02
Singaporean super-app company Grab has dumped 200 cloudy Mac Minis and replaced them with physical machines, a move it expects will save $2.4 million over three years. From a report: Grab is Southeast Asia's leading rideshare and food delivery outfit and therefore needs to build apps for iOS to connect with customers. In a Thursday post, the company explains it builds those apps using Continuous Integration and Continuous Delivery/Deployment (CI/CD) infrastructure that runs on Apple Mac computers. The company started with a single on-prem Mac Pro -- its post shows 2013's cylindrical model based around an Intel Xeon processor -- but eventually reached over 200 Macs, running in the cloud at an unnamed US cloud provider. "At the beginning, it was a no-brainer to rent when our demand for macOS hardware increased from 1 Mac Pro to 20 times that size," Grab's post explains. "However, when that grew to over 200 machines, the total cost became significant."

Read more of this story at Slashdot.

Polymarket Volume Inflated by 'Artificial' Activity, Study Finds

Slashdot.org - Fri, 11/07/2025 - 10:21
An anonymous reader shares a report: The volume of activity on Polymarket, one of the most popular prediction markets, has been significantly inflated by so-called wash trading in which users rapidly buy and sell the same contracts, according to a new study by Columbia University researchers. The "artificial trading," as the authors call it, varied over time but accounted for an average of 25% of all buying and selling on Polymarket over the past three years, the researchers concluded. The paper, which has not undergone peer review, was posted Thursday on the open-access research platform SSRN. The authors do not suggest that Polymarket itself was responsible for the wash trading, but they point to elements of the exchange's crypto-based structure that make it possible.

Read more of this story at Slashdot.

Grand Theft Auto 6 Delayed Again Until November 2026

Slashdot.org - Fri, 11/07/2025 - 09:41
Rockstar Games has announced that Grand Theft Auto VI won't launch in May of next year as planned. Kotaku: The highly anticipated sequel is now set to arrive in November 2026. On Thursday, Rockstar announced on social media that the long-awaited next entry in its open-world blockbuster franchise would need a bit more time, delaying the game an additional six months from May to November 19, 2026. Rockstar said "these extra months will allow us to finish the game with the level of polish you have come to expect and deserve."

Read more of this story at Slashdot.

Dutch Ready To Drop Nexperia Control If Chip Supply Resumes

Slashdot.org - Fri, 11/07/2025 - 09:00
An anonymous reader shares a report: The Netherlands is prepared to suspend its powers over Chinese-owned chipmaker Nexperia in a move that would de-escalate a fight with Beijing that threatens to disrupt automotive production around the world. The Dutch government is ready to shelve the ministerial order that gave it the power to block or change key corporate decisions at Nexperia, if China allows exports of its critical chips again, according to people familiar with the matter. If the shipment of supplies resumes and is verified in the coming days, the Dutch are willing to revoke its powers as soon as next week, said the people, who spoke on the condition of anonymity. Financial issues between Nexperia and its Chinese operations would also need to be resolved. [...] In a sign of easing tensions, the Dutch government said in a statement late Thursday that it expects Nexperia's Chinese unit to resume chip supplies in the coming days.

Read more of this story at Slashdot.

US Congressional Budget Office Hit By Suspected Foreign Cyberattack

Slashdot.org - Fri, 11/07/2025 - 08:00
An anonymous reader quotes a report from BleepingComputer: The U.S. Congressional Budget Office (CBO) confirms it suffered a cybersecurity incident after a suspected foreign hacker breached its network, potentially exposing sensitive data. In a statement shared with BleepingComputer, CBO spokesperson Caitlin Emma confirmed the "security incident" and said the agency acted quickly to contain it. "The Congressional Budget Office has identified the security incident, has taken immediate action to contain it, and has implemented additional monitoring and new security controls to further protect the agency's systems going forward," Emma told BleepingComputer. "The incident is being investigated and work for the Congress continues. Like other government agencies and private sector entities, CBO occasionally faces threats to its network and continually monitors to address those threats." The Washington Post first reported the breach, stating that officials discovered the hack in recent days and are now concerned that emails and exchanges between congressional offices and the CBO's analysts may have been exposed. While officials have reported told lawmakers they believe the intrusion was detected early, some congressional office have allegedly halted emails with the CBO out of security concerns.

Read more of this story at Slashdot.

Comment