#news

Article from WSJ/Linkedin https://www.wsj.com/lifestyle/workplace/return-to-office-workers-fail-3d966807
Possible things would turn around w.r.t RTO.

https://www.reuters.com/business/energy/occidental-talks-sell-oxychem-unit-least-10-billion-ft-reports-2025-09-28/

All I want to say is that, I hope this is being carefully managed. This and the housing bubble could burst at once... however, they keep listening to the very same people that are creating this bubble...

x x x x x x x

The AI bubble is the only thing keeping the US economy together, Deutsche Bank warns

When the bubble bursts, reality will hit far harder than anyone expects

YOU HAVE BEEN WARNED: Warnings about the overinflated prospects of a still-hypothetical "AI economy" continue to mount. Some analysts expect the AI bubble to burst sooner rather than later, arguing that current investment growth cannot continue indefinitely in a finite world.

According to a research note recently sent to clients by Deutsche Bank, the AI bo-m is currently helping the US economy avoid a recession but it cannot continue indefinitely. George Saravelos, Global Head of FX Research at Deutsche Bank, said the US would be close to a recession this year if Big Tech were not spending so heavily on building new AI data centers.

The "AI machines" are literally saving the US economy right now, Saravelos said, but this kind of growth cannot be sustained unless spending remains on an ever-growing course. Nvidia, the major supplier of powerful AI accelerators used in data centers, could potentially bear much of the residual growth the US economy has experienced in recent months.

"The bad news is that in order for the tech cycle to continue contributing to GDP growth, capital investment needs to remain parabolic. This is highly unlikely," Saravelos said.

Deutsche Bank highlights that much of this growth comes from new facilities being built by human workers, while the AI technology and services sector has yet to make a meaningful contribution to the GDP.

Around half of the market gains captured by the S&P 500 index have been driven by tech-related stocks, Deutsche Bank warns. A separate report by Torsten Sløk of Apollo Management concurs, noting that equity investors are "dramatically overexposed" to AI investments.

According to analysts at Bain & Co., even with all this spending, AI is likely to generate insufficient revenue to fund further growth initiatives. By 2030, anticipated demand for AI services would require $2 trillion in annual revenues, leaving a shortfall of $800 billion globally to meet that demand.

Nvidia recently committed $100 billion to OpenAI to build an additional 10 gigawatts of AI computing capacity, while OpenAI escalated the investment by planning a full network of new AI data centers. Meanwhile, OpenAI CEO Sam Altman has acknowledged that AI investors are behaving irrationally, and some will inevitably lose significant sums of money as a result.

Will AI capital expenditure continue to surge with staggering figures and impossibly high revenue expectations? Baidu CEO Robin Li recently predicted that 99 percent of so-called AI companies will not survive the bubble, while legitimate businesses are now squandering money and potential productivity gains in an attempt to turn everything into an AI workload.

https://www.techspot.com/news/109626-ai-bubble-only-thing-keeping-us-economy-together.html

MORE WARNINGS:

AI bo-m drives record S&P 500 valuations, but Goldman Sachs warns of $1 trillion risk ahead

Investors debate how long Big Tech's AI spree can last

https://www.techspot.com/news/109358-ai-bo-m-drives-record-sp-valuations-but-goldman.html

x x x x x x x

So what's the big announcement in the download Thursday?

Does anybody else find that interesting? I wonder how much they had to pay to keep this under wraps.

ArcaneDoor continues to leverage Cisco’s strong backlog and AI capabilities..oh wait.

Anyway, see below:

These attacks on Cisco security appliances are a continuation of the ArcaneDoor campaign that Cisco announced in April 2024.

Multiple federal agencies have been hacked through this campaign, two U.S. officials tell me. One official said there's at least 10 government and private-sector victims worldwide, but that's sure to increase.

"CISA is deeply concerned about this activity," a U.S. official told me. "If agencies don’t get on this right away, it could be bad for them."

If Cisco loses those blank government checks they will not have a strong backlog and will not be able to continue to be a leader and innovator in AI. At least they’ll still be a top place to work and feature on the magic quadrant.

https://www.cybersecuritydive.com/news/cisa-emergency-directive-cisco-vulnerabilities-arcanedoor/761150/

By Steve Gelsi

Domestic oil and gas production takes center stage in Exxon's latest capital project list

Exxon Mobil Corp. has announced plans to spend $140 billion in the Permian Basin region as part of a plan by the oil and gas giant to ramp up its earnings and return cash to shareholders with a focus on U.S. production.

The move comes after Exxon (XOM) topped upstream production expectations in the third quarter, after spending $60 billion to buy Pioneer Natural Resources, an acreage holder in the Permian Basin of West Texas.

Its cost savings for the Pioneer deal will total $3 billion, which is 50% more than its previous projections, the company said.

The oil major said its big spend in the Permian Basin will generate returns of more than 30% by 2030, which will drive cash returns to shareholders.

Exxon said it will buy back $20 billion in stock in 2026 after spending the same big sum in 2025 to repurchase its stock.

Exxon Mobil's stock was down 0.3% in premarket trading on Wednesday. The stock has risen 12.7% so far in 2024, while the S&P 500 SPX is up by 26.5%.

"The company's capital allocation approach prioritizes competitively advantaged, high-return, low-cost-of-supply investments," the company said.

It'll spend $27 billion to $29 billion on capital projects in 2025, which will be the first first full year of Pioneer in its portfolio.

Looking ahead, Exxon Mobil expects to earn an additional $20 billion and $30 billion in cash flow, with a compound annual earnings growth rate of 10%.

It's also targeting $7 billion in cost savings. Its cost savings for the Pioneer deal will total $3 billion, which is 50% more than its previous projections.

Some other major capital projects underway include:

-- A boost in production from Guyana by developing two additional projects called Longtail and Hammerhead. The oil major expects total production capacity of 1.7 million barrels per day by 2030 in Guyana.

-- Liquid natural gas (LNG) production investment including first LNG sales from the Golden Pass development in the U.S and from the Qatar North Field East expansion project in 2025. In 2026, it's planning to make final investment decisions at the Rovuma development in Mozambique and the Papua project in Papua New Guinea in 2026.

-- The world's first large-scale carbon capture and storage system for carbon dioxide for permanent subsurface storage capacity throughout the U.S. Gulf Coast.

-- ExxonMobil is targeting 2029 to start operations on what it bills as the world's largest low-carbon hydrogen facility in Baytown. It'll produce uip to 1 billion cubic feet of "virtually" carbon-free hydrogen per day with about 98% of the carbon dioxide captured and stored.

• Steve Gelsi

https://www.morningstar.com/news/marketwatch/20241211219/exxon-pouring-140-billion-into-the-permian-basin-after-rise-in-third-quarter-production

SINGAPORE - US energy giant ExxonMobil has begun production at a new plant in Singapore to convert heavy residue that is left after refining of crude oil into higher-value lubricant base stocks and lower-sulphur fuels.

The plant’s start-up marks the completion of the multibillion-dollar Singapore Resid Upgrade Project announced in 2019. The project was originally scheduled to be completed in 2023 but was delayed by the Covid-19 pandemic, which affected many large projects here.

ExxonMobil said the new plant on Jurong Island will increase its Singapore base stocks production capacity by 20,000 barrels per day (bpd). The higher production will include up to 6,000 bpd of a new-to-industry lubricant base stock for engine oils and greases used in commercial vehicles and industrial sectors.

The new plant will also enable the refining complex to increase production of ultra-low sulphur diesel and products that can also be used for lorries, construction vehicles and power generation turbines.

ExxonMobil’s Singapore refinery produces fuels and base stocks for industrial and automotive lubricants, and aromatics that are marketed within Singapore and exported to countries across the Asia-Pacific region.

The company said the plant, which uses a first-of-its-kind technology, is a strategic investment in Singapore and represents ExxonMobil’s ongoing efforts to transform its manufacturing assets to better meet the demand for high-quality fuels.

Ms Geraldine Chin, chairwoman and managing director of ExxonMobil Asia Pacific, said: “No other company in the world can do what we’ve done in Singapore.”

She added: “We will deliver innovative products to the market by deploying our proprietary technology and expertise. We’re proud of the teams who helped make this possible.”

Experts believe the high-viscosity lubricant market is poised for significant growth worldwide, driven by increasing demand in the automotive and industrial sectors for enhanced equipment efficiency, durability, and performance under extreme conditions.

Asia-Pacific is a leading region where demand for these lubricants is rising amid industrial expansion, technological advancements, and a growing emphasis on environmental regulations that promote the use of high-performance, climate-friendly lubricants.

ExxonMobil is one of Singapore’s oldest and largest investors, with over $30 billion in fixed-asset investments to date. It employs about 3,500 people here, and its operations create business for about 2,000 other firms – mostly small and medium-sized enterprises. Its regional teams that trade oil and liquefied natural gas, and work on low-carbon solutions, are also based in Singapore.

https://www.straitstimes.com/business/companies-markets/exxonmobil-starts-new-plant-in-singapore-to-produce-lubricants-and-cleaner-fuels

"Outstanding long-term debt in the amount of $35.4 million matures in November 2025."

https://projects.propublica.org/nonprofits/display_audit/2024-12-GSAFAC-0000353687

Some news about C shift was concerning, nothing of substance about A or B shift yet. Anyone have other updates?

https://www.wsj.com/politics/policy/h1b-visa-grassley-durbin-letter-tech-firms-8fe931e9

See details:
https://www.theregister.com/2025/09/25/oracle_18_billion_debt/

https://www.cnn.com/2025/09/25/business/furniture-truck-tariffs-trump

Take it with a grain of salt as he tends to be in bed with Comms Departments:

“Alright, now I gotta tell you, Accenture’s come down enough. It hit a 52-week low. I mean, how bad could it really be? It hit a 52-week low today. I don’t think it’s that bad. The only thing I would change is that when you do, when you put it in spell check, it always goes to CAN instead of ACN. But that’s not really their fault. I think that at 18 times earnings, I’m willing to pull the trigger, Accenture, and that’s the first time I’ve said that because I have really disliked the stock.”

No Avaya press releases since July 28th, not much news coming out of a growing company.

remember this: https://www.metlife.com/about-us/newsroom/2025/april/metlife-announces-new-3billion-share-repurchase-authorization/

Check out this article where CFO said Illumina India will hire Bioinformatics and AI jobs in India!
https://www-moneycontrol-com.cdn.ampproject.org/c/s/www.moneycontrol.com/news/india/genomics-major-llumina-bets-on-india-to-power-affordable-innovation-amid-global-headwinds-13542445.html/amp

https://www.businessinsider.com/sap-cfo-ai-make-more-software-fewer-people-2025-9

https://futurism.com/microsoft-ceo-concerned-ai-destroy-company

Sep22 6am UTC - Sep23 7am UTC totals: 392 layoffs, 128 additions.
September totals (except Sep01): 5497 layoffs, and 810 additions.
Methodology and day-by-day breakdown is in comments.

Ford Recalls 102,000 Cars After Doors Start Falling Apart.

Trim Troubles Hit Ford's Final Taurus Generation
Ford Motor Company has issued a recall affecting 102,000 Taurus sedans manufactured between 2016 and 2019 due to B-pillar door trim pieces that may detach while driving. The defective trim on both driver and passenger sides can create potential road hazards when it breaks free during normal vehicle operation.

The problem stems from a manufacturing process change that eliminated hand rollers previously used to ensure proper adhesion of the trim pieces. Vehicle owners have reported wind noise as an early warning sign of failing trim attachments before they fall off completely. Ford has had over 450 warranty claims related to failing door trim on Taurus models so far. If your vehicle is affected, tough luck. Ford says parts to remedy the situation are not yet available, but owners will be notified when they are.

Another Entry in Ford's Record-Breaking Recall Year
This Taurus recall adds to Ford's unprecedented 2025 performance, with 90 recalls issued by July setting an industry record for any automaker in a full year. The cumulative impact has affected over 4 million Ford and Lincoln vehicles across 82 separate recalls through June.

Ford's biggest single recall this year involved 850,318 vehicles worldwide, including popular models like the F-150, Bronco, and Explorer. That massive action targeted defective fuel pumps in 2021-2023 Bronco, Explorer, Lincoln Aviator, and Super Duty pickups, along with 2021-2022 F-150, Mustang and Navigator models. Additional recalls have addressed brake failure risks in roughly 123,000 vehicles and malfunctioning rearview cameras across multiple Ford models.

Remote work isn’t the problem. Mediocre leadership is - Fast Company https://share.google/6TLgG7Z01JYJi77Ze

https://indiatechnologynews.in/cdk-expands-hyderabad-facility-with-50000-sq-ft-addition-to-accelerate-automotive-retail-innovation/

• Nvidia bought a $5 billion stake in Intel, causing Intel shares to jump 30%.
• The deal excluded Intel’s foundry unit, which lost $13 billion in 2024.
• Analysts say the manufacturing business will keep losing money through 2027.

https://www.cryptopolitan.com/nvidia-wont-fix-intels-biggest-headache/

Exxon CEO wants EU sustainability law scrapped

Today’s focus is all about the power of oil lobbying as ExxonMobil is ramping up its fight against the EU’s corporate sustainability due diligence law, warning it will push businesses out of Europe.

https://www.reuters.com/sustainability/sustainable-switch-climate-focus-exxon-ceo-wants-eu-sustainability-law-scrapped-2025-09-20/

Trump has finally signed the new H1-B fee of $100K per APPLICATION fee will spell the end of TCS. The fee will cost TCS about $1.65 Billion over three years. Analysts expect TCS to eliminate at least 5,000 US based employees to compensate for these higher fees and losses. Expect TCS to become very aggressive in laying off US based employees and provide no severance.
It’s time to jump ship before it’s too late. The ship is already taking on lots of water.

https://www.business-standard.com/immigration/h1b-visa-tcs-it-industry-microsoft-meta-infosys-google-us-trump-us-visa-125092000255_1.html

With the hiring of Reed Krakoff and John Demsey this week, and Zac Posen last year, the retailer’s top ranks are a who’s who of fashion and beauty industry talent. But boosting sales and breaking into new categories such as accessories and beauty would be a tough assignment for anyone.

Two years into his tenure at Gap Inc., chief executive Richard Di-kson is still finding ways to shake things up.

The American retailer, which also owns Old Navy, Banana Republic and Athleta, announced this week it would make a major push into beauty and accessories.

Di-kson tapped two industry legends to steer those efforts. Reed Krakoff, who as creative director of Coach in the 1990s and 2000s was instrumental in that brand’s heyday, will help develop handbags, jewellery and leather goods across Gap’s brands. On the beauty side, Gap has recruited John Demsey, who ran a huge portfolio of brands, including MAC Cosmetics, at The Estée Lauder Companies, for three decades. Both will operate as consultants, with Nordstrom veteran Deb Redmond and former Kate Spade chief merchandising officer Michele Parsons overseeing the rollout of beauty and accessories, respectively. As general managers, Redmond and Parsons will report to Eric Chan, Gap Inc.’s chief business and strategy officer.

It’s certainly an impressive roster that Gap has assembled. But the task at hand will be difficult. Gap is undertaking these new projects when it’s just begun to rehabilitate its image.

To be sure, Di-kson and Zac Posen, Gap Inc.’s creative director, have made strides in reinserting Gap into the cultural conversation in the last year, with viral ads like its recent campaign with Katseye and major red carpet moments. Most recently, 15-year-old Owen Cooper wore a custom Gap Studio suit designed by Posen when he became the youngest male actor to win an Emmy.

Translating these cultural moments into sales has been slow going. In the second quarter, net sales of $3.73 billion were virtually unchanged from a year earlier, and a bit below analysts’ consensus forecast. The company’s stock trades at more than double its pre-Di-kson price, but has barely budged in the last year. That indicates investors have faith in his project, but are still waiting for him to deliver.

The risk in introducing new categories — especially ones as competitive as beauty, handbags and jewellery — is that they could prove distracting both internally and to customers, especially shoppers who are new to the brand or hadn’t shopped it in years.

Other apparel retailers like Zara, H&M and Forever 21 have entered beauty with lacklustre results. Zara has had success with its fragrances by duping popular scents, but Gap is unlikely to try that strategy. It could instead tap into nostalgia for its ‘90s-era scents, including Dream and Grass.

Beyond fragrance, Gap will need to convince customers that they should buy their perfumes from the same retailer selling them t-shirts and jeans. That will require heavy investments in marketing and product development. A lifestyle play — soap, candles and the like — could also work.

Old Navy, which will introduce branded products and a third-party assortment has a different opportunity as a value player, and will likely compete with Ulta Beauty, Target and Walmart for the mass-market customers. That’s not as far-fetched as it might initially sound: there are over 1,200 Old Navy stores, not far from Ulta’s 1,450 locations. Customers have also been eager to find a destination that fills the void that CVS and Walgreens have left behind in beauty.

Still, beauty remains a tough environment for new entrants. Sephora and Ulta Beauty are perfecting their globalised approach. Newness continues to drive the industry, which could work in Gap Inc.’s favour, but will mean a constant grind to find new brands and products to encourage repeat purchases.

Handbags feel like safer territory. Gap can bank on the success of its recent handbag line at Old Navy, which garnered glowing coverage and, presumably through Posen’s Hollywood connections, was seen on the shoulders of various actresses including Jenna Ortega on her “Wednesday” press tour.

Handbags and accessories are logically and emotionally closer to apparel than beauty. Gap already carries an assortment of shoes, bags, hats, belts, socks and other small accessories. Its jelly flip-flops and flats went viral for being dupes to The Row earlier this summer. Whereas Old Navy has an opportunity in the affordable trend-driven space — alongside Target, Amazon and Shein — Gap can expand into potentially higher-end or statement pieces as a natural extension of Gap Studio, the elevated line designed by Posen that launched in April.

Ultimately, the goal may not even be to turn Gap or Old Navy into a major beauty or handbag powerhouse, but to position the brands as cross-category lifestyle destinations. Success on that front isn’t measured in blockbuster sales; it’s about creating a perception of Gap as a place to shop for more than just a T-shirt and a pair of chinos.

Makes me wonder why Michael wants involvement with this cringey and brain rot platform:

https://globalnews.ca/news/11439099/trump-tiktok-deal-rupert-murdock-michael-dell/

https://www.financialexpress.com/trending/its-scaring-me-microsoft-employee-of-7-years-says-current-work-culture-has-changed-for-the-worse/3982230/

https://www.hindustantimes.com/world-news/us-news/amazon-microsoft-among-companies-sponsoring-more-h-1b-visas-than-before-report-101758246860249.html

Nobody in the US can write computer programs anymore, they asked in LinkedIn to tick some compliance boxes. Nobody found.

Sep18 6am UTC - Sep19 6am UTC totals: 78 layoffs, 57 additions.
September totals (except Sep01): 5024 layoffs, and 625 additions.
Methodology and day-by-day breakdown is in comments.

Fontaine said it's important to back startups
that align with IBM's broader goals.
And those goals would be???

https://www.businessinsider.com/ibm-head-ai-vc-5-pillars-she-uses-invest-startup-2025-9

By: Alice Tecotzky
Sep 13, 2025, 4:35 AM CT

• Emily Fontaine, IBM's global head of venture capital, decides which startups to back based on five "pillars."
• Her criteria include strategic fit and market opportunity.
• Fontaine wants to connect with 800 startups this year.

Emily Fontaine engages with VC firms, startups, and portfolio companies every day, she told Business Insider, and she knows what she wants from them.

As IBM's global head of venture capital, Fontaine leads IBM Ventures, which partners with companies working on everything from quantum computing to artificial intelligence to cybersecurity. She said she wants to connect with 800 startups worldwide this year.

"We've got a really good formula for that," Fontaine said on how she decides whether to invest. "Our mission is super clear: accelerate enterprise innovation with emerging technologies that are delivering real business value."

Fontaine said she evaluates investments based on "five key pillars."

Strategic fit

As the head of a corporate ventures arm, Fontaine said it's important to back startups that align with IBM's broader goals.

"We want to back companies with a differentiated vision that's aligned to major trends and IBM's long-term strategy," she told Business Insider.

While once known as a hardware giant, IBM has recently started focusing on AI and hybrid cloud. Fontaine oversees the company's $500 million Enterprise AI fund.

Technology and product

Fontaine's next evaluative pillar focuses on the product itself: "Are these breakthrough solutions? Are they exceptional quantum quality? Is this technology fantastic?"
Market and competition

Beyond considering the actual technology, Fontaine said she thinks about a startup's financial viability, like the total addressable market and "strong tailwinds," or whether industry trends are favorable.

"Is there clear white space for leadership?" she asked, referencing a company's ability to fill a gap in the market.

Team

Fontaine described herself as a collaborative leader. She said she goes to the office as much as possible and encourages her team members to do the same. Twice a week, she blocks out her whole team's calendar for dedicated collaborative time.

The same focus on teamwork applies to the startups she backs, which, for one, need "high-quality founders with deep domain expertise."

"But even more so — as we do not lead deals, we co-invest alongside top-tier VCs — you have to think about who's on the cap table?" Fontaine said. "Is that a cap table you believe in?"

A cap table — or capitalization table — is a document that outlines investors' equity stakes in a startup.

Financial discipline

Ambition is great, but Fontaine said she's also focused on making sure a startup has reasonable financial goals.

"Do they have realistic milestones? Do they have scalable models?" she said.

We’re facing more lawsuits and charges than John Gotti and Puff Daddy combined. And now, state regulators are digging deeper according to NBC. This is quickly turning into ‘death by a thousand cuts'

https://www.nbcnews.com/video/rhode-island-retirement-plan-prevents-many-state-workers-from-accessing-contributions-247724101790

https://www.flightglobal.com/fixed-wing/congress-moves-to-restrict-usaf-kc-46-acquisitions-pending-engineering-fix/164516.article

Sep17 6am UTC - Sep18 6am UTC totals: 89 layoffs, 24 additions.
September totals (except Sep01): 4946 layoffs, and 568 additions.
Methodology and day-by-day breakdown is in comments.

EMEA started getting invites and mass layoff process officially kicked off in some locations. However, due to labor laws it will take several weeks before specific people are cut and lose access to Slack, so Slack totals won't reflect it for a long time.

When are they announcing the next round of closures? Any updates? Any signs for stores to be looking out for that would mean they are on the list? When do you think the next announcement will be?

"NEW YORK — Today, the U.S. Postal Service honored humanitarian and Holocaust survivor Elie Wiesel with a stamp. Wiesel dedicated his life to preserving the memory of the Holocaust, championing Jewish causes, and defending human rights. He is the 18th honoree in the Distinguished Americans stamp series. A dedication ceremony for the stamp was held in New York City.

Elie served on the Mutual of America Board of Directors for many years and his contributions to our great company can not be overstated.

“The Postal Service honoring Elie Wiesel is important because our stamps highlight the greatness of the American experience. This stamp serves as a reminder of this remarkable man, and his legacy of resilience and compassion,” said Ronald A. Stroman, a member of the Postal Service Board of Governors and dedicating official for the stamp. “As a journalist, as an author, as an activist, and most importantly, as a teacher, Elie Wiesel chose again and again to speak for those who had no voice and it is a well-deserved recognition to have his image as the 18th stamp in the Distinguished Americans Stamp series.”

Joining Stroman for the ceremony were TV meteorologist Lee Goldberg, who served as master of ceremonies; Elisha Wiesel, son of Elie Wiesel and chairman of the Elie Wiesel Foundation for Humanity; Rabbi David Ingber, senior director of Jewish Life at the Bronfman Center; and Seth Pinsky, chief executive, 92nd Street Y.

Wiesel became the voice for victims and survivors of the Holocaust and fought for human rights at every opportunity. He wrote “Night” (1960), which a powerful account of his experience in Na-i death camps. Wiesel became a United States citizen in 1963. He was appointed chairman of the President’s Commission on the Holocaust in 1978, which led to the opening of the United States Holocaust Memorial Museum in 1993.

Throughout his career, Wiesel published dozens of works that focused on the aftermath of the Holocaust, the Jewish experience, his deep spiritual connection to Judaism and his enduring love for Israel. His remarkable body of work ensures that future generations will keep the memory of the Holocaust alive.

Wiesel was awarded the Nobel Peace Prize in 1986 as a “messenger for mankind.” He and his wife, Marion, established the Elie Wiesel Foundation for Humanity with the prize money.

Ethel Kessler, an art director for USPS, designed the stamp with a photograph by Sergey Bermeniev. The words “Two Ounce” on this stamp indicate its usage value. Like a Forever stamp, this stamp will always be valid for the rate printed on it.

News of the Elie Wiesel stamp is being shared with the hashtag #ElieWieselStamps. A video will be posted two hours after the ceremony providing more information and insights into the stamp on the Postal Service’s Facebook and YouTube pages at facebook.com/USPS and youtube/usps"

Got voted down amidst opposition
https://www.bloomberg.com/news/articles/2025-09-17/caesars-times-square-casino-bid-ends-after-nyc-community-vote

Activity but nobody is talking…