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OpenAI hacked Apple, asked people to steal data before they left.

As if Oracle needed any more weight added to the anchor around it's neck that is OpenAI.
This is sooooo bad, like devastating.

https://www.youtube.com/watch?v=NERGlrA0Rqs

https://arstechnica.com/tech-policy/2026/07/apple-sues-openai-after-ex-engineer-allegedly-used-bug-to-steal-trade-secrets/

#Company #Concern #Layoff #LayoffRumor #News

News 12 Restructures, Cuts Local Coverage

News 12 has implemented significant layoffs, impacting local newsrooms across the New York metropolitan area. These cuts have led to the elimination of dozens of jobs and a reduction in hyperlocal reporting. Standalone operations in several boroughs and Connecticut are being dismantled, replaced by a single regional broadcast with brief local segments. While Long Island and New Jersey will maintain separate broadcasts due to stronger ratings, the overall impact on local journalism is substantial. Remaining staff express concerns about safety and the future of neighborhood-specific coverage.

New York

https://nypost.com/2026/07/15/media/news-12-axes-scores-of-journos-from-bronx-brooklyn-westchester-and-connecticut-newsrooms-dire/

#Impact #Layoffs #Local #News #Restructuring

Breaking News: Nielsen Rebrands as Nambiar

Global media measurement giant Nielsen today announced it is changing its name to Nambiar Media Insights Pvt. Ltd. and relocating its headquarters to a new campus in Kochi, Kerala.

“At our core,” said Karthik Rao, “Nielsen was always Indian. The ‘N’ stood for Nambiar all along. The rest was just colonial branding. We’re finally decolonizing our letterhead.”

The rebrand comes shortly after Nielsen completed its “Strategic Talent Optimization Initiative” — HR-speak for firing roughly 4,200 American employees and replacing them with bright young graduates who can pronounce “TRP” without giggling. Sources say the transition was seamless, except for the part where the U.S. office Wi-Fi stopped working because no one was left who knew the password.

New Branding Elements

Logo: The old “Nielsen” wordmark has been replaced by a majestic elephant holding a TRP meter in its trunk, with the tagline: “Same Data. Better Karma.”

Mission Statement: “Delivering hyper-local, culturally nuanced insights from the land where your grandparents’ cousin’s neighbor’s son already works.”

Office Perks in Kochi: Free unlimited filter coffee, 47 varieties of banana chips in the pantry, and a mandatory 4 p.m. power nap policy. American severance packages included a one-way ticket to “find yourself” and a coupon for 15% off at Big Bazaar.

New Rating System: Instead of households, they now measure “aunties who watch TV while yelling at the maid.” Early data shows Kumkum Bhagya is crushing The Bachelor in the 22-35 demographic.

During the virtual all-hands (now called “Family WhatsApp Group Meeting”), the CEO — speaking from an undisclosed golf course in Scottsdale — wiped away a single tear and said, “This isn’t about cost-cutting. This is about authenticity. For too long we’ve been pretending to be an American company when our true soul has always been in God’s Own Country. Also, the fully loaded cost of an American analyst was roughly equivalent to the GDP of a small Kerala village.”

Marketing head Priya Nambiar explained the deeper reasoning: “Americans were asking too many questions. ‘Why is the sample size 87 people in Ohio?’ ‘Can we get data after 2019?’ Very negative energy. Our new Nambiar team just nods, says ‘yes sir, will do the needful,’ and delivers the numbers by yesterday.”

As of press time, Nambiar Media Insights is accepting applications for “Chief American Nostalgia Officer” — a purely ceremonial role involving wearing a cowboy hat in Zoom calls and saying “y’all” occasionally for brand authenticity.Jai Hind. Jai Ratings.

#Company #Culture #EmployeeRelations #Layoffs #News

Stripe, Advent offer to buy PayPal for more than $53 billion

there's a good chance that Fiserv sells more non-core businesses.

www.reuters.com/business/finance/stripe-advent-offer-buy-paypal-more-than-53-billion-sources-say-2026-07-15/

  • Offer represents around 28% premium to PayPal's Tuesday closing price
  • Banks committed about $50 billion in financing for the bid
  • Stripe and Advent would each hold equal stakes in PayPal
#Acquisition #Finance #Investment #Merger #News

IBM Loses $69 Billion of Market Value in One Day in Latest AI-Fueled Selloff

Front page of the online version of the WSJ at time of article publication and still there as this is being posted -- 06:01 UTC, Wed., 15 July 2026.
There is no way in he|| that AK can remain as CEO after presiding over this absolutely catastrophic devastation. No CEO can (or should) survive presiding over losing 25% of the company's value in one day.
Perhaps this will spur another company to finally make and offer to buy it.

https://www.wsj.com/tech/ai/ibm-stock-profit-warning-earnings-software-8652c06e

Shares of the corporate stalwart plunged 25% as AI purchases crowd out traditional tech spending in many companies’ budgets

By: Robbie Whelan and Heather Gillers |
July 14, 2026 5:18 pm ET

The SaaS-pocalypse has come for IBM [IBM -25.21%]. Shares fell more than 25% Tuesday, the largest one-day drop on record after the company issued a rare profit warning, citing a shift in customer spending from software to artificial-intelligence hardware and memory chips. IBM is scheduled to release its official second-quarter figures next week and could offer a preview of the toll corporate America’s AI bills might take on software spending.

The selloff in software stocks like Adobe and Salesforce earlier this year was triggered by fears that AI companies like Anthropic would enable people to easily make cheaper copies of the software-as-a-service products sold by traditional firms. However, the selloff in IBM’s shares, which wiped out $69 billion in market capitalization, is being driven by a different phenomenon: worries that new AI purchases will crowd out more traditional tech spending in company budgets.

The rapid rise of AI has made chips more expensive, which in turn has driven up prices for everything from laptops and gaming consoles to AI data-center servers. That run-up in costs has squeezed tech budgets at big institutions including banks—a core customer base for IBM—that buy an enormous amount of computing power from cloud companies to run in-house AI tools.

IBM Chief Executive Arvind Krishna said that in June, clients shifted their quarterly capital expenditures toward servers, storage and memory to secure supply-constrained infrastructure ahead of anticipated price increases.

“These conditions require our teams to execute perfectly, and this quarter we faltered,” Krishna said. “While we anticipated some supply chain-related impact in our expectations, we did not anticipate the magnitude of the capex reprioritization.”

Firms like OpenAI and Anthropic are projecting massive upticks in revenues as more companies test cutting-edge tools for a range of tasks like coding, marketing and data analysis. To pay growing computing bills to those and other AI giants, companies are likely to shave down non-AI software and hardware spending sold by traditional firms, said Gil Luria, head of technology research at D.A. Davidson.

“This earnings season is going to be strewn with companies that fall in that category,” Luria said. “They are hearing from their customers, ‘We need to make room in our budget for AI.’ ”

IBM’s challenges aren’t limited to software. Sales of the z17, the company’s flagship enterprise mainframe designed for the AI age, fell short of its expectations. IBM said it expects infrastructure revenue to fall 7%, after previously anticipating a low-single-digit decline.

Unlike other major AI infrastructure providers and large cloud companies like Nvidia, Google and Oracle, which sell chips and networking hardware and rent computing capacity from their own data centers, IBM focuses on selling hardware and software systems that corporate customers install at their own sites. The company’s customer base is heavily concentrated in financial-services firms.

IBM’s mainframe computing and consulting businesses compete directly with AI models like Claude Code, and its infrastructure business faces threats from the rising deployment of massive AI data-center clusters, which offer enterprise clients access to the computing resources they need, often at more competitive prices.

In late May, IBM announced a $5 billion cybersecurity effort with subsidiary software firm Red Hat, known as Project Lightwell, under which the two companies will deploy tens of thousands of engineers and sophisticated AI tools to help secure software supply chains for enterprise customers including Bank of America, Citi, Goldman Sachs, Visa and Morgan Stanley.

Chris Versace, chief investment officer at Tematica Research, said that IBM’s comments, paired with recent statements made by some of its major customers, including J.P. Morgan and Goldman Sachs, represented “confirmation that AI adoption and usage are rising and companies are prioritizing it to drive efficiencies and productivity.”

IBM has also invested heavily in infrastructure for quantum computing, widely regarded as the next phase of advanced processing. In June, the company announced it was launching a unit called Anderon, seeded by $1 billion from the Trump administration, which will manufacture silicon wafers for quantum-computing chips, and that it will spend $9 billion more over the next five years to develop quantum supercomputers.

The race is on to secure memory and storage chips, especially those known as DRAM and NAND flash memory, that transfer data and store information on devices. AI companies use those chips to help train and run large language models, coding agents and other tools.

The industry that makes those chips, meanwhile, which includes South Korea’s SK Hynix, Micron and Samsung Electronics, is contending with a memory crunch. The problem has already started to drive up the cost of consumer electronics, from Macs and iPads to Xboxes.

Declines for software companies like Workday, Adobe and ServiceNow were less pronounced Tuesday than IBM’s selloff, but the idea that AI spending is crowding out other parts of companies’ tech budgets rattled software stocks.

Salesforce, Workday, Adobe and ServiceNow all fell more than 5% in the first few minutes of trading before rebounding to end the day down 2.1%, 3.5%, 4.3% and 5.8%, respectively. Investor fears about software budget crowdout likely lessened upon a close read of the IBM warning, Luria said, which cited a key driver of the weakness as a shortfall in demand for the z17 mainframe. Most software companies don’t sell mainframe computers.

#Company #Layoffs #Market #News #Performance