Connect with us

Business

SoftBank Is Courting Trump With a Proposal To Invest $100 Billion in AI.

Published

on

SoftBank
Photo: Spencer Platt (Getty Images)

(VOR News) – In the next four years, Softbank (SFTBY +0.88%), a Japanese investment giant, intends to invest a total of one hundred billion dollars in the United States.

“The decision was made out of optimism about the administration that would be led by President-elect Donald Trump,” stated the chairman of the company.

The infrastructure that is associated with artificial intelligence will be the primary focus of the investments, as reported by CNBC. This infrastructure encompasses the production of semiconductor processors and data centres that contain equipment that is pertinent to artificial intelligence.

In order to achieve the objective of generating one hundred thousand new employment, the funds will be invested before the conclusion of Trump’s second term as president.

Softbank’s Vision Fund, capital projects, and Arm Holdings may have contributed.

Furthermore, there is a possibility that the funding is not newly raised and may include investments that have been disclosed in the past, such as the company’s $1.5 billion investment in OpenAI.

Masayoshi Son has become a fervent advocate for artificial intelligence (AI) in his capacity as Chief Executive Officer of Softbank. He has even gone so far as to seek investment advice from ChatGPT, which is a component of OpenAI.

He has likened those who are sceptic of the technology to goldfish that will be “left behind.” According to a report published by The Financial Times in May, Softbank was reportedly prepared to allocate up to $9 billion annually to artificial intelligence initiatives.

During the same month, Wayve, a company that specialises in autonomous vehicles, received one billion dollars in funding. It served as the impetus for this funding round.

While holding a press conference with the incoming president at his Mar-a-Lago estate, Son made the following statement: “I would really like to celebrate the great victory of President Trump, and my confidence level in the economy of the United States has tremendously increased with his victory.”

“I would really like to also celebrate the fact that President Trump has won the election.” “I would particularly like to celebrate the fact that President Trump has won the election.”

During the press conference, Trump enquired of Son whether he would “make it $200 billion.” Son responded with mirth and stated that “he is an exceptional negotiator.” Son responded to Trump’s inquiry.

Softbank’s 2016 announcement that it would invest $50 billion in the United States and generate 50,000 new employment would be followed by the $100 billion investment.

Softbank proclaimed this intention.

During that time, Trump asserted that the agreement would not have been reached if his Democratic opponent had been effective in winning the presidential election.

While serving as the keynote speaker at the groundbreaking ceremony for a new Foxconn facility in Wisconsin in June 2018, President Trump made the following statement. He stated that Softbank has invested a total of $72 billion thus far.

In December 2019, Softbank reported to Forbes that the Vision Fund and other vehicles have contributed $47 billion to the economy of the United States by investing in dozens of businesses, including DoorDash (DASH +2.08%), more than a year later. Softbank disclosed this information.

WeWork, a co-working venture, was the recipient of nearly half of its investments at the time. In 2023, the company filed for protection under Chapter 11 of the United States Bankruptcy Code after an unsuccessful public launch.

WeWork’s initial public offering was unsuccessful. WeWork’s value had plummeted from $47 billion to a mere $45 million prior to its filing for Chapter 11 bankruptcy protection. At the commencement of this year, the organisation successfully avoided bankruptcy.

SOURCE: QZ

SEE ALSO:

Bitcoin Is On The Brink Of A New High: Will It Surpass $103,000?

Labour Minister Intervenes in Canada Post Strike

 

Salman Ahmad is a seasoned freelance writer who contributes insightful articles to VORNews. With years of experience in journalism, he possesses a knack for crafting compelling narratives that resonate with readers. Salman's writing style strikes a balance between depth and accessibility, allowing him to tackle complex topics while maintaining clarity.

Continue Reading

Business

Amazon Strike Called By Teamsters Union 10,000 Walkout

Published

on

Amazon Strike Called By Teamsters Union
Teamsters members were demonstrating at "hundreds" of other Amazon locations.

An Amazon strike has hit facilities in the United States in an effort by the Teamsters union to pressure the corporation for a labour agreement during a peak shopping season.

The Teamsters union told the Associated Press that Amazon delivery drivers at seven facilities in the United States walked off the job on Thursday after the firm failed to discuss a labour contract.

According to the union, Amazon employees in Teamsters union jackets were protesting at “hundreds” of additional Amazon facilities, which the union billed as the “largest strike” in US history involving the company.

The corporation, which employs over 800,000 people in its US delivery network, stated that its services will be unaffected.

It was unclear how many people, including members of Germany’s United Services Union, participated in Thursday’s demonstration. The Teamsters union reported that thousands of Amazon employees were implicated in the United States.

Amazon Strike at 10 Locations

Overall, the group claims to represent “nearly 10,000” Amazon strikers, having signed up thousands of people at roughly ten locations across the country, many of whom have joined in recent months.

The organization has claimed recognition from Amazon going on strike, claiming the firm illegally neglected its obligation to bargain collectively over salary and working conditions.

The Teamsters is a long-standing US union with nearly one million members. It is well-known for securing lucrative contracts for its members at companies like delivery behemoth UPS.

Most of the Teamsters’ Amazon campaigns have concerned drivers working for third-party delivery companies that partner with the tech behemoth.

Amazon denies that it is liable as an employer in those circumstances, which is a point of legal contention. In at least one case, labour officials have taken a preliminary stance in favour of the union.

Stalled Contract Negotiations

Amazon employees at a major warehouse on Staten Island in New York have also chosen to join the Teamsters. Their warehouse is the only Amazon facility in the United States where labour officials have formally recognized a union win.

However, the Amazon strike is because contract negotiations have not progressed since the 2022 vote. It was not one of the areas scheduled to go on strike on Thursday.

Amazon, one of the largest employers in the United States, has long received criticism for its working conditions and has been the target of activists seeking to gain traction among its employees.

Related News:

Amazon Releases Nova, a Fresh Set of Multimodal AI Models.

Continue Reading

Business

Amazon Encounters Numerous Strikes As Unions Aim At The Holiday Shopping Surge.

Published

on

Amazon

(VOR News) – Thousands of Amazon employees at various sites across the country were scheduled to go on strike on Thursday in an effort by the Teamsters union to pressure the retail behemoth to acknowledge its unionised workers in the United States.

The walkout is expected to concentrate on seven Amazon locations across the country during the holiday purchasing surge and may be the most significant union action against Amazon in the nation’s history.

The business announced on Thursday morning that there had been no effect on operations. It also stated that it is “continuing to concentrate on fulfilling customers’ holiday orders.”

The International Brotherhood of Teamsters maintains that it represents more than 10,000 Amazon employees and contractors in aviation centres, warehouses, and delivery centres.

Amazon has refused to acknowledge the union for many years.

The retail giant, which employs approximately 1.5 million individuals, excludes contractors and part-timers. A strike has been initiated by delivery couriers and warehouse employees at seven distinct locations in order to exert pressure on the company to negotiate a collective bargaining agreement that would encompass modifications to compensation, amenities, and working conditions.

Picketing was intended for New York, Atlanta, Los Angeles, San Francisco, and Skokie, Illinois.

Also, the Teamsters assert that they are establishing picket lines at “hundreds” of additional warehouses and delivery centres by encouraging non-unionized workers to picket under U.S. labour law, which protects workers’ ability to take collective action to further their interests.

“Amazon workers are exercising their power,” Randy Korgan stated to NPR.

“They now realise there is a pathway to take on a corporate giant like this – and that they hold the power.” Amazon responds by accusing the Teamsters of fabricating information regarding the strikes, asserting that the participants are “entirely” outsiders rather than employees or subcontractors of the corporation.

Amazon spokesperson Kelly Nantel stated that “the reality is that they were unable to secure sufficient support from our employees and partners and have invited external parties to harass and intimidate our team.” For more than a year, the Teamsters have been intentionally misleading the public by claiming to represent “thousands of employees and drivers.” They do not.

The Teamsters did not provide a specific duration for the strike; however, they informed NPR that it would extend beyond one day. Workers would receive $1,000 per week in strike money, as per the union.

Teamsters President Sean O’Brien issued a statement in which he stated, “If your package is delayed during the holidays, you can attribute it to Amazon’s insatiable greed.” We established a firm deadline for Amazon to attend the meeting and treat our members equitably. They disregarded it.

The Teamsters granted until December 15 to convene with its unionised employees and develop a collective bargaining agreement.

Amazon has opposed all unionisation efforts in court, asserting that unions were not advantageous to its employees and emphasising the compensation and benefits that the organisation currently provides.

Amazon has been accused of discriminatory labour practices on numerous occasions, including the termination of labour organisers. Furthermore, it has disputed its official status as a contract employer.

Teamsters organize Amazon delivery couriers and other employees.

In June, Amazon established its first unionised warehouse in Staten Island, New York, two years after making history by voting to join the fledgling Amazon Labour Union, which is also affiliated with the Teamsters.

The union is one of the most influential in the United States and Canada, with 1.3 million members. On Thursday, the German United Services Union declared that Amazon employees in Germany would participate in a strike in conjunction with their American counterparts.

In the past, Amazon has experienced demonstrations in Germany and Spain that were related to the holiday season in order to advocate for improved wages and working conditions.

“The holiday season has arrived.” Delivery is anticipated. Patricia Campos-Medina, the executive director of Cornell University’s Worker Institute, asserts that “this is the moment in which workers have control over the supply chain.”

The Teamsters have reported that Amazon’s profits have increased both during and after the pandemic. The corporation is currently valued at over $2.3 trillion, with net income of $15 billion in the most recent quarter alone. It is the second-largest private employer in the United States, following Walmart.

SOURCE: NPR

SEE ALSO:

SoftBank Is Courting Trump With a Proposal To Invest $100 Billion in AI.

TVA News Montreal Becomes Most-Watched News Source in Quebec

 

Continue Reading

Business

Crown Royal Canadian Whisky Launches 12 Year Reserve Blended

Published

on

Crown Royal Canadian whisky
This 80-proof sipping whisky will be available at selected retailers this month

If you enjoy Crown Royal Canadian whisky, the company has announced the launch of a new expression, which will join its lineup of famous sipping whiskies.

As the name implies, Crown Royal Reserve Aged 12 Years Blended Canadian Whisky is a blend of whiskies selected by Crown Royal’s master blenders. Each had been maturing for at least twelve years.

Crown Royal Canadian whisky is a robust, drinkable whisky with flavours of dried fruits, roasted vanilla beans, cinnamon candy, and baking spices. It all culminates with a warming, lingering, spicy finish that leaves you wanting more. It’s subtle and robust enough to drink neat or on the rocks.

“Crown Royal Reserve Aged 12 Years stays true to the tradition of the original Crown Royal Reserve offering while elevating the flavour profile with more pronounced fruity notes,” stated Mark Balkenende, Master Blender of Crown Royal, in a press statement.

“This expression enhances what makes Reserve unique within the Crown Royal portfolio, now featuring the exciting addition of an age statement that provides a more elevated experience for our consumers.”

This 80-proof sipping whisky will be available at select locations in the United States starting this month for a suggested retail price of $49.99. You’ll want to try this unique taste if you enjoy blended Crown Royal Canadian whisky.

About Crown Royal Canadian Whisky

The post-Crown Royal will release a new 12-year-old blended whisky that appeared first in The Manual.

Crown Royal Canadian Whiskey is a classic loved for its smooth taste and rich history. First crafted in 1939 to honour King George VI and Queen Elizabeth’s visit to Canada, this whisky has built a lasting reputation.

Made in Gimli, Manitoba, it has a unique flavour from blending 50 whiskies. It offers a balanced and approachable profile with notes of vanilla, caramel, and oak.

Whether enjoyed neat, on the rocks, or in cocktails, Crown Royal stands out as a top choice for whisky fans. The signature purple bag protects the bottle and is a recognizable symbol. Crown Royal continues representing Canadian quality and pride in the global whisky scene.

Nestled along the western side of Lake Winnipeg in Manitoba is the little town of Gimli, where a committed group of professionals devote their time and love to the production of Crown Royal Fine De Luxe Blended Canadian Whisky.

As proud stewards, these men and women carry out the same process that generations of Crown Royal employees have done before them, demonstrating that each bottle of Crown Royal Fine De Luxe Blended Canadian Whisky contains a lifetime of expertise.

Related News:

Taylor Port Launches Sentinels Vintage Port

Continue Reading

Trending