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As Meta employees brace for layoffs next month, the big question is how many humans it actually needs in the age of AI. Loading audio narration… In a telling moment during Wednesday’s first-quarter earnings call, CFO Susan Li said she “doesn’t really know” what the company’s ideal head count looks like.”I think there’s a lot of change right now, with AI capabilities advancing rapidly,” she said.That question is causing anxiety across tech, not just at Meta, which is set to cut 10% of its staff on May 20.Meta CEO Mark Zuckerberg didn’t address the layoffs directly during the call, though…

Microsoft is speeding up in the AI race. Loading audio narration… The tech giant surprised investors on its quarterly earnings call on Wednesday by announcing plans to spend $190 billion in capital expenditures this year.It’s a big jump from analysts’ estimates of $147 billion. Now, Microsoft’s capex guidance is nearly as high as the $200 billion its rival Amazon has said it will spend on capex in 2026.Microsoft’s cloud revenue is growing, though not quite as fast as investors would like, especially given power and supply chain constraints that slow the current pace of data center development.”We remain confident in the return…

The U.S. Supreme Court Roberto Schmidt/Getty Images hide caption toggle caption Roberto Schmidt/Getty Images The Supreme Court’s conservative majority seemed ready Wednesday to allow the Trump administration to potentially proceed with mass deportations of more than a million foreign nationals, including those from Haiti and Syria, who live and work legally in the United States. Until now these individuals have been accorded temporary legal status because their safety is imperiled by war or natural disasters in their home countries. Congress enacted the Temporary Protected Status program in 1990, and every president since then — Republican and Democrat — has embraced…

In an aerial view, a sign is posted on the exterior of a Carvana car vending machine on July 19, 2023 in Daly City, California.Justin Sullivan | Getty ImagesShares of Carvana jumped by as much as 10% in extended trading after the company reported record results during the first quarter that topped Wall Street’s expectations.Here’s how the company performed in the first quarter, compared with average estimates compiled by LSEG:Earnings per share: $1.69 vs. $1.43 expectedRevenue: $6.43 billion vs. $6.08 billion expectedThe online used car retailer reported adjusted earnings before interest, taxes, depreciation and amortization of $672 million, and net income of…

After eight years, Jerome Powell is clocking out. Loading audio narration… The Federal Reserve opted to hold rates steady at its third meeting of 2026, which was Powell’s last as head of the central bank. From oil shocks to Fed leadership, here are Business Insider’s biggest takeaways from the decision.Highest vote split since the 1990sThe Federal Open Market Committee had four dissenting votes in Wednesday’s rate call — the most since October 1992. Governor Stephen Miran hoped for a rate cut, and Governors Beth M. Hammack, Neel Kashkari, and Lorie K. Logan opted for a hold, but “did not support…

A Chipotle logo is displayed on a sign outside a restaurant on Jan. 9, 2026 in San Diego, CA.Kevin Carter | Getty ImagesChipotle Mexican Grill on Wednesday reported surprising same-store sales growth, signaling the burrito chain could be starting to put last year’s woes behind it. Shares of the restaurant company rose about 3% in extended trading.Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 24 cents adjusted, in line with expectationsRevenue: $3.09 billion vs. $3.07 billion expectedChipotle reported first-quarter net income of $302.8 million, or 23…

Enrique Lores, then-CEO of Hewlett-Packard speaks on CNBC outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025.Gerry Miller | CNBCPayPal CEO Enrique Lores has this week told managers that he is reorganizing the firm’s reporting lines to separate Venmo, the popular mobile payments app, from the company’s other operations, CNBC has learned exclusively.Venmo will soon be its own standalone segment within PayPal, making it easier to track its progress or potentially sell the business to another company, said people with knowledge of the changes.PayPal is looking to recruit a digital banking executive to run the new Venmo…

The federal government says it’s going to review ABC’s broadcast licenses — a move that came a day after Donald and Melania Trump both called on ABC to punish Jimmy Kimmel. Loading audio narration… What does that mean for Kimmel and everything else that airs on ABC?For now, nothing. But that doesn’t mean it doesn’t matter.Unlike last fall, when Donald Trump and his administration also went after Kimmel, his show remains on the air. (Kimmel responded directly to the Trumps during his Monday night show, but didn’t reference the license review during his Tuesday night monologue.) Everything else on ABC…

Uber’s newest features make the app feel less like a ride-hailing service and more like a personal assistant. Loading audio narration… The tech company unveiled several new tools on Wednesday at its annual Go-Get Conference, where it showcases new products. The options aim to fill a variety of demands, from “Have a coffee waiting for me in my ride to the airport” to “Book me a hotel for my trip next week.”CEO Dara Khosrowshahi said the goal is to save users time — “your most precious asset” — during a presentation in New York City.”We should have more time to…

CEO of Paramount Skydance David Ellison speaks on stage during the Paramount Pictures presentation at CinemaCon at The Colosseum at Caesars Palace on April 16, 2026 in Las Vegas, Nevada. Valerie Macon | AFP | Getty ImagesParamount CEO David Ellison is trying to do something that no other studio has done in the modern age of cinema — release 30 films annually.Ellison once again promised this theatrical feat in front of thousands of exhibitors at CinemaCon earlier this month. Applause erupted from the crowd after he made the pronouncement. But privately, movie theater operators have expressed concerns and skepticism about…