Author: arthursheikin@gmail.com

[ad_1] Amazon’s CEO told employees to get with the AI program on Tuesday, echoing advice from career experts and other tech leaders about the need to skill up, fast.”As we go through this transformation together, be curious about AI, educate yourself, attend workshops and take trainings, use and experiment with AI whenever you can,” Andy Jassy wrote. “Participate in your team’s brainstorms to figure out how to invent for our customers more quickly and expansively, and how to get more done with scrappier teams.”When reached by Business Insider, an Amazon spokesperson declined to comment further on Jassy’s remarks.Business Insider asked…

[ad_1] Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThis article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. Tensions continue to rise in the Middle East. Yesterday, President Donald Trump called for Iran’s “unconditional surrender” (what does that mean in this context?) and US military assets moved closer to the region. The Brent crude price rose 5 per cent. Email us:…

[ad_1] The once-hypothetical cuts are coming, whether employees are ready or not.On Tuesday, Amazon’s CEO, Andy Jassy, confirmed the fears of many workers in the age of artificial intelligence: He said he expects the technology will lead to job cuts at the tech giant.In his memo, which was posted online, Jassy did not announce immediate layoffs. He said that, in the next few years, “efficiency gains” from AI would translate to a smaller corporate workforce.Marlo Lyons, a certified executive coach, told Business Insider that jobs will inevitably change — including outright disappearances. “So is your job at risk? Absolutely. If…

[ad_1] London CNN  —  The European Union is moving closer to banning all imports of Russian oil and natural gas more than three years after Moscow launched its unprovoked, full-scale invasion of Ukraine. The European Commission, the bloc’s executive arm, put forward a legislative proposal Tuesday to gradually ban purchases of Russian natural gas – whether supplied via pipeline or as liquefied natural gas (LNG) on tankers. Under the plan, no new import contracts will be allowed from next year, while imports under existing short-term contracts for most EU member states will have to stop in a year’s time and…

[ad_1] Chinese jewelers are snapping up platinum as they seek to bounce back from a slump in gold jewelry sales, an industry group said.Surging gold prices, which hit a record high above $3,500 an ounce in April, have deterred even buyers from China, who have a cultural attachment to the yellow metal.In the first quarter of the year, gold jewelry sales in China tanked nearly 27% from a year ago to 134.5 tons, according to the China Gold Association.Meanwhile, gold bar and coin consumption surged nearly 30%, showing that investor demand for haven assets remains strong.”Jewelry fabricators and distributors are…

[ad_1] Sam Altman, the CEO of OpenAI, said Meta’s attempts to poach his best staff with generous signing bonuses were not successful.Altman talked about the competition OpenAI faces from Meta on his brother’s podcast “Uncapped with Jack Altman,” in an episode that aired on Tuesday.”I’ve heard that Meta thinks of us as their biggest competitor, and I think it is rational for them to keep trying. Their current AI efforts have not worked as well as they’ve hoped,” Altman said of Meta’s $15 billion investment in data-labeling firm Scale AI.But Altman said he found it “crazy” when Meta tried to…

[ad_1] CNN  —  Elon Musk’s X Corp sued New York on Tuesday, challenging the constitutionality of a state law requiring social media companies to disclose how they monitor hate speech, extremism, disinformation, harassment and foreign political interference. In a complaint filed in Manhattan federal court, X said New York’s law subjects it to lawsuits and potentially large fines unless it discloses “highly sensitive and controversial speech” that the First Amendment protects and the state may dislike. X said New York’s law was based on a nearly identical California law whose enforcement was partially blocked by a federal appeals court last…

[ad_1] CNN  —  Global markets have remained relatively calm amid the escalating tensions between Israel and Iran. But that sentiment could quickly shift, according to experts, if the conflict affects the Strait of Hormuz. That’s because the narrow stretch of water located between the coasts of Iran and Oman is one of the most critical chokepoints in the world for the flow of oil. Oil prices rose Tuesday as traders monitored potential supply disruptions. US oil futures climbed 4.28% to settle at roughly $74.84 per barrel — the highest closing price since January. Brent crude, the global benchmark, rose 4.4%…

[ad_1] New York CNN  —  JPMorgan Chase is hiking the annual fee of its popular Sapphire Reserve credit card by 45% as part of a major overhaul to attract high-spending millennials. The bank announced Tuesday that the credit card, which is targeted at travel and dining aficionados, will soon cost $795 per year — a dramatic increase from the current $550 annual fee that was rolled out in 2020. The card launched in 2016 with a $450 per year fee. It’s a tough fee to swallow, but Chase said cardholders will have $2,700 in annual benefits to redeem and that…

[ad_1] President Donald Trump’s tariffs may face their final fate at the Supreme Court soon.Two Illinois-based educational toy companies filed an emergency request Tuesday asking the Supreme Court to take up their case as soon as possible, rather than letting it continue to play out in lower courts since “it will inevitably fall to this Court to resolve it definitively.”Toy companies Learning Resources and hand2mind filed an initial suit on April 22, challenging Trump’s use of the International Emergency Economic Powers Act to impose tariffs without going through Congress.”For months, we’ve had dozens of people working full-time or part-time on…