133-year-old drug company plans layoffs, files WARN notice

Waymo, Tesla Robotaxi, and Amazon's Zoox are competing in the autonomous vehicle market, with recent developments highlighting their rivalry. Waymo has made significant strides, while Zoox has launched a new robotaxi service in San Francisco, offering free rides to users. This competition is intensifying as each company seeks to establish dominance in the self-driving taxi sector.

Retailers Kroger, Target, and Walgreens are implementing stricter rules to combat retail theft and shoplifting, which have negatively impacted the shopping experience. Customers often find essential items locked away, requiring assistance from staff, leading to frustration and a shift towards online shopping alternatives like Amazon.

A key manufacturer in the food industry has filed for Chapter 11 bankruptcy, reflecting ongoing challenges within the sector. The filing highlights concerns over financial stability and operational viability amid rising costs and market volatility. This situation underscores the broader issues facing food-related businesses, particularly in the context of changing consumer behaviors and economic pressures.

Goldman Sachs has warned that the increasing debt levels among major tech companies, including Amazon, Google, Meta, Microsoft, and Oracle, which have collectively taken on $121 billion in new debt this year, could heighten macroeconomic risks associated with the expansion of artificial intelligence. This amount is four times greater than the total debt incurred by these companies over the previous five years.

Zoox, an autonomous vehicle company owned by Amazon, has been developing a distinctive vehicle for the past decade. While competitors like Tesla's Robotaxi and Waymo attract significant media attention, Zoox's unique design and technology have remained relatively under the radar, yet they are memorable once seen.

Adobe has announced a $1.9 billion acquisition of Semrush, a software provider that assists businesses, including major companies like Amazon and TikTok, with search-engine optimization and marketing strategies. This deal highlights Adobe's commitment to enhancing its digital marketing capabilities.

The Navy Secretary has expressed concerns that workers in the shipbuilding industry may prefer jobs at Amazon, where they can earn higher wages. This situation poses a challenge for attracting talent to build America's warships, especially as the industry, which contributes $37.3 billion to the GDP, has been overshadowed by China's advancements in recent years.

Elon Musk has reignited his long-standing feud with Bill Gates after the Gates Foundation sold 65% of its Microsoft stake, resulting in an estimated gain of $8.8 billion. Musk took to X (formerly Twitter) to criticize Gates, particularly targeting his philanthropic efforts while holding a significant short position against Tesla. This public spat highlights the ongoing tensions between the two billionaires, reflecting Musk's disdain for Gates' financial strategies.