Amplify Took 3 Hours to Stop California Oil Spill

Driller Amplify Energy Corp. took more than three hours to halt California’s worst oil spill in almost three decades, according to a government report.

Following a low-pressure alarm around 2:30 a.m. on Oct. 2 from its San Pedro Bay Pipeline, Amplify’s Beta Offshore unit didn’t shut the pipeline down until 6:01 a.m., the U.S. Department of Transportation’s Pipeline…

Read more

Facebook Content Moderators Sue Meta in Kenya

A group of Facebook content moderators in Kenya is taking the platform’s parent company Meta and two outsourcing companies to court, a tech rights group said Monday. A total of 43 workers for outsourcing company Sama, who moderated Facebook content, are bringing the lawsuit for what they allege was unlawful dismissal under Kenyan law.

Sama, which was hired by Meta to moderate Facebo…

Read more

Mark Zuckerberg’s Plans for the Metaverse

Mark Zuckerberg’s Meta has poured over $10 billion into metaverse research this year alone. What is he spending on, and what does he hope to accomplish in building virtual worlds?

He offered some clues last week on The Joe Rogan Experience, which is by some metrics the most listened-to podcast in the world. The episode, which sprawled almost three hours, made headlines for Z…

Read more

OpenAI Says Sam Altman to Return as CEO in Dramatic Reversal

Sam Altman will return to lead OpenAI less than five days after he was pushed out of one of the world’s most valuable startups, setting off a shock back-and-forth drama that transfixed Silicon Valley and the global AI industry.

Read More: What We Know So Far About Why OpenAI Fired Sam Altman

Altman is returning as chief executive officer and the initial b…

Read more

Sysco’s CEO Thinks U.S. Food Prices Will Stop Soaring Soon

(To receive weekly emails of conversations with the world’s top CEOs and business decisionmakers, click here.)

Attention, food shoppers! The recent steep surge in U.S. food prices will end soon, predicts Kevin Hourican, chief executive of Sysco, a food-distribution giant. “I expect food inflation to decrease over the next year at both the grocery store and…

Read more

Tesla Headquarters Is Moving to Texas

California Governor Gavin Newsom frequently touts that his state is the leader in cutting-edge manufacturing and green technology. Now one of the most recognizable companies in those fields is taking its headquarters elsewhere.

Tesla Inc.’s move from Silicon Valley to Texas marks the latest blow for California, the electric-car maker’s home since its founding 18 years ago. It …

Read more

Holiday Shoppers Are Cutting Back. And That’s a Bad Sign For the Economy

Holiday shoppers are sending a message to retailers: Lower your prices.

U.S. shoppers pulled back on spending just as the holiday season began, a sign that high prices and rising interest rates are shifting consumer spending habits.

Retail sales fell in November by 0.6%, the biggest drop in nearly a year, after rising 1.3% in October, the Commerce Department said on Thursday. The dr…

Read more

Microsoft Strikes Deal with Mistral AI

Microsoft announced an artificial intelligence partnership Monday with the French startup Mistral AI that could lessen the software giant’s reliance on ChatGPT-maker OpenAI for supplying the next wave of chatbots and other generative AI products.

Mistral AI emerged less than a year ago but is already what Microsoft described Monday as an “innovator and trailblazer” at the vanguard of …

Read more

Why the SEC’s New Climate Rules Could Divide Corporate America

Even couched in wonky, legalistic language, the difference in tone between the American Bankers Association (ABA) and the American Petroleum Institute (API) is hard to miss. Last year, following a request for feedback from the U.S. Securities and Exchange Commission (SEC), the two trade groups presented vastly different pictures of the role the market regulator should play to make sure investor…

Read more

Why the UAE and Israel Struck a Trade Deal

Israel and the United Arab Emirates deepened ties on Tuesday with a historic free trade agreement—the first of its kind between Israel and an Arab country—at a time of growing criticism of Israel’s treatment of Palestinians. Both Israel and the UAE are touting the major economic benefits that such a deal could bring. But experts tell TIME that it’s too early to assess th…

Read more