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Microsoft said it expected to take an $800mn impairment charge stemming from General Motors’ decision to restructure its driverless car unit, Cruise. The Redmond, Washington-based tech group in 2021 joined GM, Honda and institutional investors in a combined new equity investment of more than $2bn to help the Detroit-based carmaker accelerate the commercialisation of autonomous
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. More than 10,000 civil service jobs are set to be cut under ministers’ plans to find savings of 5 per cent to their departments in the spending review, according to government figures. Ministers are looking
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Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. A decade ago, after selling Siri to Apple, the creators of the voice-controlled AI assistant had another big idea. With their new company, Viv, they set out to solve a persistent problem for smartphone users:
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Business leaders have warned chancellor Rachel Reeves at a private meeting that the economic environment is “extremely challenging”, with companies facing major uncertainty due to her tax-raising Budget and the government’s planned package of employment
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Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation rose to 2.7 per cent in November, as the Federal Reserve considers how quickly to press ahead with lowering interest rates. The figure was in line with the expectations of economists polled by
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President Biden plans to formally block NipponSteel’s proposed takeover of USSteelon national security grounds once the $15 billion deal is referred back to him later this month, Bloomberg News reported Tuesday, citing people familiar with the matter. The US national security panel reviewing the deal must refer its decision on the merger to Biden by
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A Chinese citizen living in Los Angeles allegedly flew a drone and took aerial images of Vandenberg Space Force Base last month, federal prosecutors said Monday.  Yinpiao Zhou, 39, was arrested this week at the San Francisco International Airport prior to boarding a China-bound flight, the Justice Department said. He is charged with failure to register an
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President-elect Donald Trump tapped Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency, Trump said on social media on Tuesday. Ferguson, one of two Senate-confirmed Republican FTC commissioners appointed by President Biden, will be “the most America First, and pro-innovation FTC Chair in our Countrys History,” Trump said. “Andrew has a proven record of standing up to Big
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. London’s Heathrow airport has forecast its busiest ever festive period, with a jump in passengers travelling on Christmas Day set to cap a record-breaking year of travel for the UK’s largest airport. On Wednesday, the
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