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Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track. New research from economists at the Federal Reserve Bank of New York finds that this retirement savings deficit hasn’t made a dent in when Americans plan to exit, or partially exit, the workforce. “The pandemic-induced change in retirement expectations may continue to affect the labor market in years to come,” they wrote. Yes, but: This is a survey of expectations, researchers at the New York Fed are quick to point out. Just because Americans say they plan to shift to part-time work or retire early, it doesn’t mean that they’ll be able to.
Persons: Felix Aidala, Gizem Kosar, Wilbert van der, , They’re, Alicia Wallace, delinquencies, Joelle, CNN’s Parija, Donna Morris, Morris, ” Morris Organizations: CNN Business, Bell, New York CNN, Census, Federal Reserve Bank of New York, Social Security, New, Survey, SCE, triannual, Social, Social Security Agency, Lawmakers, New York Fed, Federal Reserve Bank of New, , Public Policy Research, Credit, Walmart, CNN, San Francisco Bay Area Locations: New York, United States, York, Federal Reserve Bank of New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey
New York CNN —Walmart said Tuesday it is eliminating several hundred corporate jobs and will relocate most of its remaining remote office staff to its Bentonville, Arkansas, headquarters. Walmart confirmed the move in a memo sent by Donna Morris, its chief people officer, to employees on Tuesday and obtained by CNN. The relocation will impact the majority of workers in Walmart’s Dallas, Atlanta and Toronto offices. While most relocations will be to its Bentonville headquarters, some workers will be relocated to Walmart offices in the San Francisco Bay Area or to Hoboken, New Jersey, and the New York area. “In addition, some parts of our business have made changes that will result in a reduction of several hundred campus roles,” Morris said in the memo.
Persons: Donna Morris, Morris, , ” Morris Organizations: New, New York CNN, Walmart, CNN, San Francisco Bay Area Locations: New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey
Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters. The majority of employees working remotely and in offices in Dallas, Atlanta and Toronto have been asked to relocate. Walmart is the nation's largest private employer with about 1.6 million employees, most of whom work at its stores across the country. Walmart has another reason to bring more employees to Bentonville: It is building a nearly 350-acre campus there. In February 2022, we made the decision to bring Home Office associates back into our campus offices.
Persons: Donna Morris Organizations: Walmart, Walmart Health, Street Journal, Home Office, Toronto Global Tech, Office Locations: Arkansas, Bentonville , Arkansas, Dallas , Atlanta, Toronto, San Francisco Bay, Hoboken , New Jersey, Arkansas , Florida, Georgia , Illinois, Texas, Bentonville, Morris, Hoboken, New York
AdvertisementEven though LA is much larger than San Francisco, LA doesn't feel urban, while San Francisco does. Here's what I felt were the five worst things about leaving the San Francisco Bay Area and moving to LA. AdvertisementAs an artist and business owner, I founded my eco-friendly textile and wallpaper collection business in San Francisco in 2013. I miss San Francisco's culture and philanthropic spiritLiving in San Francisco, I found that many of its businesses have a good environmental or social mission. But I believe, for the most part, San Francisco still has the same caring heart and soul it's had for years.
Persons: , Stevie Howell, It's, I've, Francisco —, Jessica Silverman, Rebecca Camacho, would've, it's, Crissy, I, Manseen Logan Organizations: Service, Business, San, San Francisco Bay Area, Minnesota, National Parks Conservancy, Area Locations: Los Angeles, San Francisco, LA, It's, San Francisco , LA, San Francisco Bay, Mandalay, Francisco, Bernal Heights Hill, Dolores Park, Ocean, Stinson Beach, Angel, mlogan@businessinsider.com
New York, Austin, and LA were the top cities tech talent moved to in 2023, according to a report. Several places attracting tech workers are "blue island" cities in red states. 1 place tech workers moved to in 2023 was New York City, according to a recent SignalFire report. AdvertisementThe top nine cities tech workers relocated to were:New York City, New YorkAustin, TexasLos Angeles, CaliforniaDenver, ColoradoSan Diego, CaliforniaMiami/Fort Lauderdale, FloridaDallas/Fort Worth, TexasNashville, TennesseeTampa/St. AdvertisementSeveral of the cities attracting tech workers also happen to be "blue island" cities located in red states, such as Austin, Nashville, Tampa, and Miami.
Persons: , Austin Organizations: Boston, Service, Tech, San, Business, St . Petersburg , Florida New, Los, California Portland , Oregon Detroit , Michigan Provo , Utah San, Seattle, York Locations: York, Austin, LA, San Francisco, Seattle, Miami, New York City, San Francisco Bay, California, New York , Texas , California, Florida, New York City , New York Austin , Texas Los Angeles , California Denver , Colorado San Diego , California Miami, Fort Lauderdale , Florida Dallas, Fort Worth , Texas Nashville , Tennessee Tampa, St . Petersburg , Florida, St . Petersburg , Florida New York, Los Angeles, Francisco , California Seattle, Washington Boston , Massachusetts Phoenix , Arizona Washington, DC Sacramento, California Portland , Oregon Detroit , Michigan Provo , Utah, California Portland , Oregon Detroit , Michigan Provo , Utah San Francisco, New York, Boston, San Francisco and California, Texas, York City, Nashville, Tampa, Utah , Idaho, Arkansas
I wanted something different for my daughtersIn the US, individualism really makes it difficult to parent, especially as a single parent. I also wanted safety for all of usAs a gay woman, I wanted to live somewhere where I could have rights, community, and safety. In Portugal, children of all ages are found in restaurants at all hours with their families, and parks have kiosks for parents to enjoy drinks while their children play. There isn't an expectation for single moms to show up as if they aren't single moms. I am grateful that Portugal models other ways of being a parent: prioritizing ourselves, our children, and our time.
Persons: Aisha Canfield, I've Organizations: Service, Business, San Francisco Bay Area Locations: Portugal, San Francisco Bay
My dad still remembers the anxiety that engulfed the island when the United States cut off diplomatic recognition of Taiwan in favor of the People’s Republic of China in 1979. My parents considered America a safe haven and wanted me to grow up with all its comforts. Of course, comparing the United States and Taiwan this way without acknowledging the nuanced socio-political contexts can be misleading. Clarissa WeiThe biggest shift, then, has been how the people of Taiwan perceive the United States. The United States, on the flip side, is the 131st.
Persons: Clarissa Wei Editor’s, Clarissa Wei, , , Annabelle Chih, there’s, Tyrone Siu, Donald Trump, Joe Biden, “ Wei, Ting Yen, I’m, nodded, Billy H.C, Kwok, It’s, Republican —, Xi Jinping, “ Trump Organizations: Taipei CNN, CNN, America, Metro, Trump, Taiwan, Franklin & Marshall College, 131st, San Francisco Bay Area, China’s Communist Party, Republican Locations: Taiwanese American, Taipei, Taiwan, China, United States, People’s Republic of China, America, Los Angeles, Taiwanese, Kaohsiung, San Francisco Bay
Tech billionaires are stepping it up from the basic t-shirt and jeans they're known for donning. AdvertisementLook no further than Meta CEO Mark Zuckerberg as a real example of this fashion upgrade to his techy street style. Here's what Zuckerberg and his fellow wealthy tech titans are wearing this spring, according to style experts. Clive Brunskill/Getty ImagesIn March, Bill Gates was spotted in a navy top while sitting in the crowd of a tennis match. Victoria Hitchcock; Oscar HeymanAs for her female clients, Hitchcock said they're going for understated shoe options and eye-catching jewelry.
Persons: , They're, Victoria Hitchcock, Mark Zuckerberg, he's, Hitchcock, Zuckerberg, Bill Gates, Clive Brunskill, it's, Gates, Paul Altieri, Sergey Brin, George Esquivel, Nicole Pollard Bayme, Gen, It's, Phil Knight, they're, Manolo Blahnik, Oscar Heyman, Manolo Blahnik — Organizations: Service, Tech, Business, Microsoft, LA, Nike, Getty Locations: San Francisco Bay, Silicon, San Francisco, Silicon Valley
San Francisco CNN —San Francisco is suing its neighbor across the Bay over a plan to change the name of Oakland’s airport. “People do not know that Oakland is by the San Francisco Bay. San Francisco filed suit in federal court Thursday, requesting the court prohibit Oakland from using the name, alleging that Oakland plans to “intentionally and knowingly capitalize off of confusion.”The City of San Francisco owns a trademark on “San Francisco International Airport,” commonly referred to by its three-letter code, SFO. It does not need the same San Francisco as part of its airport to stand out,” she penned in a letter to the Port of Oakland. We will vigorously defend our right to claim our spot on the San Francisco Bay.
Persons: San Francisco CNN —, , Danny Wan, San Francisco, , Oakland ‘, San, Wan, Mary Richardson, OAK’s Organizations: San Francisco CNN, Oakland International, “ San Francisco Bay, International, Port, Oakland, San, San Francisco International Airport, San Francisco Mayor London Breed, CNN, Azores Airlines, United Airlines, SFO, Bureau of Transportation Statistics, Oakland’s Locations: San, San Francisco CNN — San Francisco, Oakland’s, “ San Francisco, Port of Oakland, San Francisco Bay, City, San Francisco, , Oakland, Terceira, Portuguese, Port
"The tech sector is in the midst of a tremendous platform shift with Al," Porat wrote in the memo, obtained by CNBC, that was sent to employees in finance. The restructuring will impact finance teams domestically and abroad, including in the Asia Pacific region and Europe, the Middle East and Africa, Porat noted. "Over the past year, we have talked about creating hubs of Fin'ooglers around the world that are vibrant and have a strong culture," Porat wrote. "As we've said, we're responsibly investing in our company's biggest priorities and the significant opportunities ahead," a Google spokesperson told CNBC in an email. WATCH: Google Cloud CEO says company is monetizing AI in a variety of ways
Persons: Ruth Porat, Porat, Sundar Pichai, we've Organizations: Google, CNBC, San Francisco Bay Area Locations: Asia, Europe, East, Africa, Bangalore, Mexico City, Dublin, Chicago, Atlanta, San Francisco Bay, Fin'ooglers
Two Chairs just grabbed $72 million of Series C equity and debt funding led by Amplo. Two Chairs was bringing in $68 million in recurring revenue in December, one source told BI. AdvertisementTalk therapy startup Two Chairs is the latest mental-health player to close on a fresh round of venture funding. The company just raised $72 million in Series C equity and debt funding, led by existing investor Amplo, and including Fifth Down Capital and other unnamed investors. The startup secured the debt funding from Bridge Bank.
Persons: Amplo, Organizations: Service, Fifth Down Capital, Bridge Bank, San Francisco Bay Area, Business Locations: San Francisco Bay, Los Angeles, Seattle, Miami
New York City gained the most relocating tech workers in 2023, SignalFire reports. AdvertisementNew York is continuing to gain on San Francisco as a rival tech hub. The greater New York City area drew the biggest share of relocating tech workers last year compared to any other major city in the US, according to a new SignalFire report. The most common move for tech workers in the San Francisco Bay Area was to New York, the report found. AdvertisementMeanwhile, SignalFire found that the San Francisco Bay area actually saw its tech pool shrink by the largest percentage last year.
Persons: San Francisco, , SignalFire Organizations: York City, San, Los Angeles, Service, Big Apple, Austin, CNBC, Sequoia Capital, Nvidia, SF Bay Area Locations: York, Austin, Francisco, New York City, San Francisco Bay, New York, Los Angeles, Seattle, Boston, San Francisco, California, San, Santa Clara , California, West, San Jose , California
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementKat Hunt never wanted to work from home. Hunt, whose job is in finance in Portland, Oregon, needed a place for some team members to gather in New York City. Hunt wanted a spot that wasn't your typical WeWork or similar. Courtesy Kat Hunt and Radious"I was allowed to work from home, but I never wanted to," Hunt said.
Persons: , Kat Hunt, Hunt, Radious, Amina Moreau, Moreau, Combinator, Ryan Masiello, That's, Googlers, Clelia Warburg Peters, It's Organizations: Google, JPMorgan, Service, Earth Finance, San, Francisco's Pier, Ventures Locations: luxe, Portland , Oregon, New York City, Portland, Brooklyn, San Francisco, Portland , Milwaukee, San Francisco Bay, New York, Mountain View , California, Francisco's
CNN —Part of a roadway on California’s Big Sur coast crumbled into the ocean over the weekend after part of a cliff gave way in what officials are calling a “slip out.”A portion of Highway 1 remained closed, according to a Sunday evening post from Caltrans District 5. All Big Sur state parks in the affected area are closed “until further notice,” according to a notice posted by California Department of Parks and Recreation. Essential travelers in the area will be led by convoy through the closed area, according to Caltrans District 5. The convoy will be in place for the “next several days” as crews work to fix and stabilize the roadway, according to the Monterey County Sheriff’s Office. Park closures include Pfeiffer Big Sur State Park, Andrew Molera State Park, Limekiln State Park, Julia Pfeiffer Burns State Park and Point Sur State Historic Park, according to a release from California State Parks.
Persons: Pfeiffer, Andrew, Julia Pfeiffer Burns, Robert Shackelford Organizations: CNN, Caltrans, California Department of Parks and Recreation, Monterey County Sheriff’s Office, NWS, Francisco, Francisco Bay Area, Pfeiffer Big, California State Parks Locations: Sur, Monterey County, Francisco Bay, Pfeiffer Big Sur State, Andrew Molera, Limekiln
Fast food was her full-time job until last year. “Because I would not have been looking for so many other jobs in different places.”The law was supported by the trade association representing fast food franchise owners. For many fast food restaurants, this means the jump to $20 per hour will be smaller. At first, it appeared the bread exemption applied to Panera Bread restaurants. Also, Flynn has announced he would pay his workers at least $20 per hour.
Persons: Ingrid Vilorio, ” Vilorio, Alex Johnson, Anne's Pretzels, Johnson, , ” Johnson, , Michael Reich, ” Reich, Reich, Greg Flynn, Newsom, Flynn, ___ Organizations: San Francisco Bay Area, University of California, Bloomberg News Locations: LIVERMORE, Calif, California, United States, San Francisco Bay, Berkeley, Sacramento , California
A court sentenced Sam Bankman-Fried, the fallen king of crypto, to 25 years in prison on Thursday. Advertisement"In my opinion, he's going to a low-security facility, not to a medium. It would be a PR disaster if he went to a medium and got hurt," prison consultant Sam Mangel told BI. I don't think he's going to have a problem with physical harm or rape or anything like that. "He's going to want to do things to pass the time."
Persons: Sam Bankman, he'll, SBF's, Lewis Kaplan, he's, Sam Mangel, Mangel, Fried, Maureen Baird, Baird Perdue, Baird, Judge Kaplan, Jane Street, Kaplan Organizations: Service, Business, Federal Bureau of Prisons, San Francisco Bay Area, Prisons, Baird Perdue & Associates, Jane, Capital Locations: Manhattan, San Francisco Bay, New York, California
The top 10 richest cities in America
  + stars: | 2024-03-21 | by ( Robert Frank | ) www.cnbc.com   time to read: +2 min
A new report found that New York City is the No. With nearly 350,000 millionaires and 60 billionaires, the Big Apple is the richest city in America, according to the USA Wealth Report from Henley & Partners and New World Wealth. Despite all the headlines about the rich leaving the city, its millionaire population has grown 48% over the past decade. The San Francisco Bay Area ranks as the second richest city in America, despite topping New York for billionaires, with more than 305,000 millionaires and 68 billionaires. The Bay Area's growth rate over the past 10 years has been even more impressive, with its millionaire population soaring 82%.
Persons: Robert Frank, Andrew Amoils Organizations: U.S, Apple, USA, Henley & Partners, San Francisco Bay Area, New, New York City Locations: New York City, . New York, America, San Francisco, New York, Austin , Texas, Miami, U.S, Texas, Florida, Bay
CNN —Bay FC may be the new kid on the NWSL block, but recent signing Jen Beattie has insisted that the team isn’t there to make up the numbers, rather to “change the face of American soccer.”Beattie, a true legend of the women’s game, left Arsenal to join Bay FC in February. As well as Beattie, Bay FC has signed several high-profile internationals ahead of its inaugural season, including Zambian Racheal Kundananji for a reported $787,000 world record fee, Nigerian star Asisat Oshoala and Mexican forward Scarlett Camberos. It didn’t take very long to convince me, I’ll be honest … Everyone wants to lift trophies and everyone wants to be as successful as possible.”Jen Beattie joined Bay FC from Arsenal in February. Ed Szczepanski/USA Today Sports/ReutersBay FC, and its star-studded roster, is not the first expansion team to enter the NWSL attempting to shake up the status quo. However, eyes now turn to Bay FC and its impressive roster to see just how much of an upset the team can cause in the NWSL.
Persons: Jen Beattie, ” Beattie, – Aly Wagner, Danielle Slaton, Brandi Chastain, Leslie Osborne –, Asisat Oshoala, Scarlett Camberos, Beattie, Amanda Davies, I’ll, ” Jen Beattie, Ed Szczepanski, Natalie Portman, Eva Longoria, Serena Williams, Billie Jean King, , , Albertin Montoya, He’s, “ I’ve, Tess Boade dribbles, Angel City, Abe Arredondo, I’m, I’ve Organizations: CNN —, Arsenal, Bay FC, North, , Montpellier, Manchester City, Melbourne City, Scotland, San Francisco Bay Area, Sixth, CNN, USA, Sports, Reuters, FC, Sunday, BMO, Angel City, Angel, League, Chelsea, Gunners Locations: North London, San Francisco Bay, Bay, Zambian, Los Angeles, Angel
I traveled solo after breaking off my engagementApart from visiting family in China — my last trip to Beijing was in 2018 — I hadn't traveled solo until last year. Last year, I decided to try something I'd never done before, which was to travel solo internationally. I began documenting my solo travel on TikTok and Instagram. I found it easy to connect with people abroadI started my journey with a solo trip to Denmark and Sweden in November. A month later, I embarked on a monthlong solo trip traveling to eight cities in Italy, France, Germany, Switzerland, and Vatican City.
Persons: , Angela, I've, I'm, hadn't, @realphdfoodie, I'd, It's Organizations: Service, Business, San, San Francisco Bay Area Locations: Europe, Beijing, Florida , Texas, Southern California, San Francisco Bay, Bay, China, Copenhagen, Denmark, Sweden, Italy, France, Germany, Switzerland, Vatican City, Iceland, Rome
Two of the tech industry's biggest AI champions are backing Rep. Abigail Spanberger's run for governor of Virginia in 2025, campaign finance records show. Hoffman donated $250,000 on November 30, and Scott donated $125,000 on December 22. The donations, representing a total of $500,000 are the three largest individual contributions on record for Spanberger's campaign, which ended 2023 with over $3.6 million in funds received. Aside from their personal connections to the state, Virginia is home to the largest concentration of data centers in the world. Hoffman has previously donated over $300,000 to WinVirginia, a PAC that supports Democratic candidates in the state.
Persons: Abigail Spanberger's, Reid Hoffman, Kevin Scott, Hoffman, Scott, Shannon Hunt, Hunt, Prince William County, they're, Spanberger, Glenn Youngkin, Ohio US Sen, JD Vance, Joe Biden's, Nikki Haley, Ellen Thomas Organizations: Microsoft, Business, Democratic, Spanberger, University of Virginia, Culpeper ., CIA, Virginia Gov, Republican, LinkedIn, Ohio US, Trump Republicans, South Carolina Gov, PAC Locations: Virginia, Greylock, Prince William, Spotsylvania, Culpeper, Richmond, San Francisco Bay, Rural America, Silicon, Hampshire
Read Your Way Through the San Francisco Bay Area
  + stars: | 2024-03-13 | by ( Leila Mottley | ) www.nytimes.com   time to read: +1 min
Read Your Way Around the World is a series exploring the globe through books. The San Francisco Bay Area is anything but a monoculture. Go to San Francisco, hop across the Bay Bridge into Oakland, then head up into Richmond or down to Hayward, and the landscape around you — the people, the food, the particular cadence of walk and talk — will morph. The Bay Area is known for starting shit. The Bay Area is unafraid to be first.
Persons: , Jack London’s, John Steinbeck’s Locations: San Francisco Bay, San Francisco, Oakland, Richmond, Hayward, John Steinbeck’s Salinas
"The V2MOM had nothing about generative AI," Parker Harris, who co-founded the company with Benioff, told CNBC in an interview. Harris, a Salesforce board member and now the technology chief of Slack, which Salesforce bought in 2021, said he'd rather avoid the limelight. Without the Data Cloud, Harris told CNBC, "I think we would have been in a much worse place." He told Benioff he'd redo the plan, the person said. They'll be talking more frequently, as Harris said they're about to kick off weekly meetings on Slack and Salesforce integrations.
Persons: Parker Harris, Marlena Sloss, Marc Benioff, ChatGPT, Benioff, Salesforce, Harris, Slack, he'd, Sam Altman, Noah Berger, Robin, Batman, Frank Dominguez, Dave Moellenhoff, Bobby Yazdani, Larry Ellison, Yazdani, Dominguez, Brett Queener, who's, Queener, Salesforce.com, He's, Ruth Asawa, Josef Albers, Miles Davis, Donald Trump, Jason Alden, Marc, Kara Swisher, David Paul Morris, Adam Selipsky, it's, Stewart Butterfield, Lidiane Jones, Cal Henderson, Benioff's, Parker, Noah Weiss, Denise Dresser, Weiss, Parker Harris emoji, They'll, Salesforce integrations, Stefan Slowinski Organizations: Salesforce, Bloomberg, Getty, CNBC, Google, Microsoft, Middlebury College, Apple, San, San Francisco Bay Area, Metropolis Software, Software, Saba Software, Oracle, San Francisco's Telegraph, YouTube, Facebook, Economic, Salesforce.com Inc, Web, VMware, Employees Locations: San Francisco, Silicon Valley, English, Vermont, North Carolina, San Francisco Bay, Moellenhoff, Kincaid's, Burlingame, San Francisco's, Salesforce, France, Italy, Nantucket, San, Pacific, Davos, Switzerland, Cliff, New York, Las Vegas, Hawaii
Where Electric Vehicles Are (and Aren’t) Taking Off Across the U.S.Last year, Americans bought more than one million fully electric cars, trucks and SUVs, a record and a milestone for the country’s transition away from gas-powered vehicles. To fight climate change, the Biden administration and many state governments want to accelerate the transition to electric vehicles. experience from pretty easy and kind of hard,” said Ken Kurani, a researcher focused on electric vehicles at the University of California, Davis. Only two electric vehicles in the analysis, both made by Tesla, cost the same or less than similar gas models. But for now, “there are some very real ways in which, in comparison to conventional vehicles, electric vehicles either really are still struggling to be as good or better, or are struggling against the imagination that they’re not as good or better,” he said.
Persons: Tom Libby, Mr, Libby, , , Biden, Ken Kurani, Kurani, Brittany Greeson, Philip Cheung, We’re, Tesla, “ We’re, Jessica Caldwell, Kelley, Davis Organizations: P Global Mobility, P, Pew Research Center, University of California, The New York Times, BMW, Ford, Hyundai, General Motors Locations: Florida, Texas, West Coast, California, San Francisco Bay, Los Angeles, Detroit, Bismarck, N.D, United States, Davis, Chicago, Norway, Edmunds, U.C
Thousands of residents were left without power, and life came to a standstill for many in the Sierra Nevada region on Saturday after a winter storm dumped as much as two feet of snow overnight and created treacherous conditions. About 49,000 customers in Nevada and California were without electricity on Saturday morning, according to PowerOutage.us. With whiteout conditions in the mountains, ski resorts in the Lake Tahoe area paused operations. And highway officials shut down Interstate 80, the main artery that traverses the Sierra Nevada over Donner Summit, a key trucking route from the San Francisco Bay Area. Palisades Tahoe, a resort that closed ski area operations on Saturday across all terrain, reported 24 inches of new snow in the past 24 hours.
Persons: Organizations: Donner Summit, San, Patrol, Sierra Snow Laboratory Locations: Sierra Nevada, Nevada, California, San Francisco Bay Area, Donner
Apple reportedly cancels plans to build a car
  + stars: | 2024-02-27 | by ( Kif Leswing | ) www.cnbc.com   time to read: +1 min
Apple will wind down its team working on electric cars, called Special Projects Group, according to Bloomberg. The news signals that Apple will cease its secretive effort to build a car to rival Tesla . The program employed thousands of employees but never fit with Apple's core business of electronics and online services, and raised questions about what companies Apple would tap to manufacture a car. Reports of Apple's ambition to build a car first surfaced in 2014 after the company recruited automotive engineers and other talent from car companies. Some Apple employees in the company's car division may move to a generative artificial intelligence team, according to Bloomberg.
Persons: Tim Cook, Tesla Organizations: Apple, Formula One United, Prix Circuit, Bloomberg, San Francisco Bay Area, CNBC PRO Locations: Formula One United States, Americas, Austin , Texas, San Francisco Bay
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