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- Mark Zuckerberg admits Meta has ‘made mistakes’ as AI overhaul resha...
Meta CEO Mark Zuckerberg acknowledged Friday that the company has "made mistakes" as it undergoes a sweeping workforce overhaul tied to its aggressive push into artificial intelligence (AI).Zuckerberg made the remarks in an internal memo to employees, according to Reuters, which reported that the Meta chief warned of challenges associated with the rapid development of AI technology.Meta has poured billions of dollars into AI infrastructure and tools as it competes with OpenAI, Google and Microsoft for dominance in the emerging technology.The company has also explored ways to use AI agents to perform tasks currently handled by employees.MARK ZUCKERBERG SAYS META HAS 'MADE MISTAKES' DURING ITS AI-DRIVEN WORKFORCE OVERHAUL, WARNING OF CHALLENGES TIED TO THE RAPID DEVELOPMENT OF ARTIFICIAL INTELLIGENCE."Given the complexity of these changes, we've made mistakes and will almost certainly make more," Zuckerberg said.He added that he is "focused on providing as much stability as possible" as the company continues to reshape its workforce."I don't want to overpromise because the world is changing in ways that are out of our control," Zuckerberg said.META LAUNCHES $115M SKILLED TRADES ACADEMY WITH GUARANTEED JOBS FOR GRADUATES IN 4 STATESHe also reiterated that Meta does not expect any additional company-wide layoffs this year.The comments come after Meta laid off roughly 10% of its global workforce in May and reassigned approximately 7,000 employees to AI-focused initiatives.Zuckerberg reportedly said the company will attempt to find new positions for employees reassigned to train AI models.AMERICA CAN'T COMPETE WITH CHINA IN AI WITHOUT THESE WORKERS, META'S PRESIDENT SAYS"By creating important new roles for people, this also allowed us to shrink the size of teams knowing that if we make mistakes in some places, then we could transfer some people back," Zuckerberg said.GET FOX BUSINESS ON THE GO BY CLICKING HEREAccording to Reuters, the restructuring — combined with previous transfers and role eliminations — is expected to ultimately affect about 20% of Meta’s workforce.Meta employed nearly 78,000 people as of the end of March, according to company securities filings.FOX Business has reached out to Meta for comment.FOX Business' Bradford Betz and Reuters contributed to this report. [TheTopNews] Read More.4 hours ago - Frozen pizza snack recall hits 21 states over possible metal contamination in pr...Thousands of cases of a frozen pizza snack sold in 21 states are being recalled because they may contain metal pieces.Rich Products Corp. voluntarily issued the recall of 6,408 cases or more than 160,000 pounds of its Farm Rich Pizza Cheese Crunchers, according to the U.S. Food and Drug Administration.The pizza was sold in Alabama, Arkansas, California, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin.FORD RECALLS MORE THAN 255,000 VEHICLES OVER ENGINE STALL RISKThe recall was initiated by the New York-based company on May 19.The product has a best-by date of July 7, 2027, with a UPC code of 041322652256 and a lot number of 003029976.MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES. The FDA classified the recall as a Class II health risk, which means the defect could cause temporary or medically reversible health problems.The agency didn't specify if any injuries had been reported or how the possible contamination was discovered. The recall comes weeks after another frozen pizza recall over salmonella concerns.The pizzas, which spanned several brands, had been sold at Walmart and Aldi. [TheTopNews] Read More.5 hours ago
- DOJ clears Paramount-Warner Bros merger after 8-month antitrust probe, says deal...The Justice Department (DOJ) on Friday announced it has closed its antitrust investigation into Paramount Skydance's proposed acquisition of Warner Bros. Discovery, concluding the transaction is not likely to harm competition or American consumers.The Antitrust Division said its eight-month review examined more than two million documents and found the deal could strengthen competition across the media and entertainment industry, including in streaming video, traditional television and theatrical film distribution."The extensive investigatory record reviewed by the Division suggests that the impact of the transaction will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers," the department said.The DOJ said the combined company would continue competing against larger streaming rivals including Netflix, Amazon and Disney and found no evidence the transaction would likely reduce consumer choice.WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEALThe department also disclosed that regulators reviewed a separate proposal involving Netflix before Paramount reached a definitive agreement with Warner Bros. Discovery. According to the DOJ, evaluating both proposals provided investigators with competing perspectives on the future of the media industry.The decision drew criticism from Sen. Elizabeth Warren, D-Mass., who urged state attorneys general to continue fighting the transaction.GSA SELLS OLD POST OFFICE BUILDING IN WASHINGTON, ONCE HOME TO TRUMP HOTEL"This is terrible news for every American who doesn't want Trump-aligned billionaires to control what they watch and how much they pay," Warren wrote on X.OPENAI SIGNALS POTENTIAL STOCK MARKET DEBUT WHILE WEIGHING PRIVATE-COMPANY ADVANTAGESWarren also alleged the merger "reeked of corruption and influence-peddling" and called on state officials to block the deal.State attorneys general retain independent authority under antitrust laws, and the DOJ's decision does not itself prevent additional legal challenges to the proposed transaction.The merger still faces several steps before completion.GET FOX BUSINESS ON THE GOParamount announced Friday that it had extended debt exchange and tender offers connected to Warner Bros. Discovery and said it expects those offers to remain aligned with the anticipated closing timetable. The company also cautioned that the acquisition remains subject to closing conditions and other risks. [TheTopNews] Read More.6 hours ago
- Musk Is the World’s First Trillionaire. Who Was the First Billionaire?
John D. Rockefeller, the Gilded Age oil baron, became America’s first billionaire in 1916. Like Elon Musk’s ascension, the milestone made headlines. [TheTopNews] Read More.6 hours ago - Americans Aren’t Money Savvy, and They’re Only Getting WorseResearchers say people with poor understanding of basic finances often make bad decisions on money matters. [TheTopNews] Read More.7 hours ago
- Ford recalls more than 255,000 Focus vehicles over engine stall riskFord announced a recall covering more than a quarter million Ford Focus vehicles over an issue that may cause the engine to stall unexpectedly.The recall affects 255,404 Focus vehicles from the 2012-18 model years due to an issue with the canister purge valve (CPV). These vehicles were covered by a prior recall, but the correct software fix may not have been installed on the affected vehicles.If the fix wasn't properly installed, the CPV may malfunction and stick open, with the powertrain control module (PCM) unable to adequately detect the stuck open CPV."A CPV that is stuck open during the evaporative leak monitor check can cause excessive vacuum in the fuel system of these vehicles. Excessive vacuum can result in deformation of the plastic fuel tank," the recall report said.FORD ISSUES RECALL FOR MORE THAN 548,000 VEHICLES OVER ISSUE WITH CENTER CONSOLEAffected vehicles may trigger a malfunction indicator light, or drivers may observe an inaccurate fuel gauge indication, inaccurate distance to empty and/or have drivability concerns.Ford flagged a concern with the National Highway Transportation Safety Administration (NHTSA) that it found discrepancies that showed the software fix may not have been successfully applied to all vehicles.MORE THAN 1 MILLION JEEP VEHICLES RECALLED OVER FIRE RISK AS OWNERS WARNED NOT TO PARK INSIDEThe company then identified the subset of affected vehicles and issued a recall earlier this month. Ford isn't aware of any reports of accidents or injury related to the issue.Owners of affected vehicles will be notified by mail and instructed to take their vehicle to a Ford or Lincoln dealer to have the PCM updated, with software parts to be validated before the process concludes. FORD RECALLS NEARLY 420,000 EXPEDITION AND LINCOLN NAVIGATOR SUVS OVER SEAT BELT LOCKING ISSUEThere will be no charge for the service. Ford approved a reimbursement plan for owners who paid to have the issue fixed prior to the May 2023 safety recall, and owners who paid out of their own expense to have repairs completed may be eligible for reimbursement.GET FOX BUSINESS ON THE GO BY CLICKING HERE [TheTopNews] Read More.8 hours ago
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