Apple appoints Meta’s Newstead as general counsel amid executive changes

Apple is set to see significant leadership changes as Lisa Jackson, who has spearheaded sustainability initiatives, plans to retire in January, and Kate Adams, the company's general counsel, is expected to retire late next year. These departures add to a growing list of executive exits from the tech giant.

The latest Market Talks provide insights into the performance of major tech companies, including Snowflake, Salesforce, Meta, and C3.ai, highlighting their recent earnings and market reactions. Salesforce reported a strong Q3 2026 performance, exceeding forecasts, while Snowflake faced challenges with its revenue outlook, leading to a decline in share price despite some positive earnings reports.

Meta is reportedly planning to reduce its metaverse spending by up to 30% as CEO Mark Zuckerberg shifts the company's focus towards artificial intelligence initiatives. This decision reflects a significant strategic pivot in response to evolving market conditions and internal assessments of project viability.

Meta has announced a significant reduction in resources allocated to its metaverse initiatives, with CEO Mark Zuckerberg indicating that the savings will be redirected towards other futuristic projects within Reality Labs. This decision marks a strategic shift in the company's focus amid evolving market conditions.

US stocks experienced small gains on Thursday, buoyed by stronger-than-expected jobs data, which did not alter expectations for a Federal Reserve rate cut next week. Meta's stock surged due to budget cuts, reflecting a positive response from investors.

The Nevada desert, historically known for its gold rush, is now experiencing a significant expansion in technology with the development of vast datacenters, particularly at the Tahoe-Reno Industrial Center, which is larger than Denver. This area hosts major tech companies like Google and Microsoft, marking a shift towards digital infrastructure in the region.

US equity futures are maintaining gains as discussions arise regarding Treasury Secretary Scott Bessent potentially leading the National Economic Council alongside his current role, contingent on President Trump's expected nomination of Kevin Hassett as the next Federal Reserve chair. This development comes amid ongoing labor market data analysis.

Lawmakers, including Senator Elizabeth Warren, are pressing major companies like Nvidia, Apple, and Meta regarding potential donations made to Donald Trump's ballroom events, questioning whether these contributions were made in exchange for favorable treatment from the former administration.