President Donald Trump was geared up for a show of federal force in San Francisco, a city he’s blasted as everything wrong with liberal governance. Then conversations with some of the Bay Area’s most prominent tech leaders and the mayor changed his mind.“I got a great call from some incredible people, some friends of mine, very successful people,” Trump told reporters Thursday at the White House, specifically referencing Jensen Huang, the CEO of Nvidia, one of the world’s most valuable tech companies, and Marc Benioff, CEO of software company Salesforce.He said they told him San Francisco was working hard to reduce crime. “So we are holding off that surge, everybody. And we’re going to let them see if they can do it,” Trump said. He said he could change his mind if it “doesn’t work out.”Trump said the increased federal force had been planned for Saturday. He didn’t specify whether he was just referring to National Guard troops, which he had threatened to send in, or if he would also halt a potential ramp up of immigration enforcement. U.S. Customs and Border Protection agents arrived at a U.S. Coast Guard base near the city on Thursday morning, drawing protesters.
A careful approach to Trump
Outreach from billionaire CEOs clearly had a hand in the rare reprieve Trump handed a Democrat-led city. But Trump also credited Mayor Daniel Lurie, who has worked to avoid direct confrontation with the Republican president since both took office in January. Lurie has governed as an earnest and relentless cheerleader of San Francisco, and repeatedly refused to weigh in on national politics or to mention Trump’s name.Instead, he’s focused on local issues public safety, luring back business and reversing the city’s pandemic-fueled decline. When Trump said repeatedly earlier this week that he’d send the National Guard into San Francisco to quell crime, Lurie noted overall crime is down 26% compared to last year and car break-ins are at a 22-year low.“I told the mayor, I love what you’re doing, I respect it, and I respect the people that are doing it,” Trump said, referencing a phone call the two had Wednesday.An heir to the Levi Strauss fortune and anti-poverty philanthropist, Lurie is a centrist Democrat who had never held office until he ousted then-Mayor London Breed in last November’s election. He has stated no other political aspirations than to improve the city and has said that he will work with anyone who wants to do the same.“I told him the same thing I told our residents,” Lurie said at a Thursday afternoon news conference to address his call with the president. “San Francisco is on the rise. Visitors are coming back, buildings are getting leased and purchased, and workers are coming back to the office.”Lurie said he told Trump that he welcomes the city’s “continued partnership” with the Drug Enforcement Agency and other federal authorities to get illegal narcotics off the streets and contribute to San Francisco’s falling crime rates. Fentanyl has been a major scourge on the city’s streets.“But having the military and militarized immigration enforcement in our city will hinder our recovery,” Lurie said.
City reacts with praise and skepticism
Former U.S. House Speaker Nancy Pelosi, a San Francisco Democrat, praised Lurie on social media, saying that he “has demonstrated exceptional leadership.” Steve Kerr, Golden State Warriors head coach, called him an “absolute superstar” responsible for the good things happening in San Francisco.The office of California Gov. Gavin Newsom, a former San Francisco mayor, said on X that, “Trump, has finally, for once, listened to reason.” Newsom, for his part, has repeatedly sparred with Trump, particularly after Trump deployed the California National Guard to Los Angeles against Newsom’s wishes.But others are skeptical that Trump will keep his word. Indeed, Trump said he was giving Lurie “a chance” to turn things around and said the federal government could “take criminals out” much faster.“We cannot trust Trump,” said San Francisco Supervisor Connie Chan, a progressive who runs politically left of Lurie but has a good working relationship with the mayor.San Francisco Supervisor Jackie Fielder, who is also more politically liberal than Lurie, said in a statement that she disagrees with Lurie’s desire to coordinate more with federal law enforcement, saying that “is a dangerous invitation to a fascist administration.”
CEOs make an appeal
Trump said he received “four or five calls” from business leaders urging him not to send federal force and to let city leaders continue to work on reducing crime.“They’re the biggest people in the world, a lot of the high tech,” he said at the White House. “They want to do it. And I said, ‘I am so honored to let you do it. And if it doesn’t work out, we’ll do it for you very quickly.'”Benioff of Salesforce, who also owns Time magazine, told the New York Times earlier this month that he’d welcome Guard troops to help quell crime ahead of his major annual business conference. He quickly face backlash and then apologized, saying the troops weren’t needed. He confirmed to The Associated Press that he spoke to Trump but did not provide more details. Nvidia declined to comment.In announcing his decision to back off a surge, Trump did not mention other cities in the Bay Area, including Oakland, where he has also threatened to send in federal troops.Some other Democrats who have also taken a less combative approach to Trump have avoided his focus as he deploys Guard troops around the country. He has not, for example, focused on Detroit despite criticism of the city. Michigan Gov. Gretchen Whitmer has tried to engage with Trump including with White House visits.
Associated Press journalist Mike Liedtke contributed.
Janie Har, Associated Press
The stunning indictment that led to the arrest of more than 30 people, including Miami Heat guard Terry Rozier and other NBA figures, on charges of illegal sports betting has drawn new scrutiny of the booming business of professional sports gambling across the U.S.Since widespread legalization, the multibillion-dollar industry has made it easy to place wagers on everything from the outcome of games to that of a single play with just a few taps of a cellphone. It’s just about impossible to go to a basketball, football, baseball or other pro game today or watch a matchup on TV without seeing ads for sports betting.Fans can place wagers from their stadium seats, while “Bet” tickers scroll on TV sports broadcasts. Star athletes are frequently at the center of ads promoting it all.In Thursday’s indictment, federal investigators accused Rozier and other defendants of breaking the law by exploiting private information about players to win bets on NBA games. Rozier’s lawyer, Jim Trusty, said in a statement that his client is “not a gambler” and “looks forward to winning this fight.”A separate indictment alleges Portland Trail Blazers coach Chauncey Billups and others participated in a conspiracy to fix high-stakes card games. Billups’ attorney, Chris Heywood, issued a statement denying the allegations, calling his client a “man of integrity.”Regulating sports wagering has proven to be a challenge and experts warn about the ramifications for gamblers who typically lose money. Professional leagues’ own role in promoting gambling has raised eyebrows.
Here’s what we know.
Explosion of legalized sports betting
Sports betting is probably as old as sports itself. But in the U.S., legal gambling really took off in 2018.That’s when the Supreme Court struck down the Professional Amateur Sports Protection Act, which barred sports betting in most states. Once allowed only in Nevada, sports betting is now permitted online or in retail locations in 38 states and Washington, D.C. Missouri will become the 39th state on Dec. 1.Experts say the biggest jump has been online, through smartphone apps and platforms like DraftKings and FanDuel. Through the third quarter of this year, legal sports betting generated $10 billion in revenue, up about 19% from the same period a year ago, according to the American Gaming Association.The industry argues that legal wagering generates money for states and can deter illegal betting. Major operators point to technology they use to monitor suspicious activity. FanDuel said Thursday’s news illustrates “the stark contrast between legal and illegal betting markets.”
Who benefits?
There is plenty of money on the table both for those who place winning bets and the platforms that make it possible. The NBA and other pro sports leagues have also created revenue streams by partnering with sportsbooks and reaping advertising dollars.Live game stats provided by leagues are key to the sports world’s relationship with the gambling industry. When you’re able to bet what the next pitch in a baseball game is going to be, that’s because Major League Baseball is selling data to platforms “for a pretty high price,” according to Isaac Rose-Berman, whose research focuses on sports betting as a fellow at the American Institute for Boys and Men.The NBA has a partnership with Sportradar for its data rights. Sportradar, in turn, provides FanDuel Sportsbook official NBA statistics. When the deal was announced in 2022, Sportradar touted it as a way “to monetize our long-term partnership with the NBA.”
How is sports betting regulated?
Each state has its own regulations and tax rates for sports betting. A handful restrict where you can place bets allowing users to use mobile apps, but only while they’re physically inside a casino or within a certain radius of a stadium, for example. Others limit which betting platforms you can use or what you can bet on.“States sort of opened up a can of worms, and now some of them are starting to realize just how crazy this sports betting world sort is,” said Wayne Taylor, a professor of marketing at Southern Methodist University.An even stickier factor is when players and other team or league personnel are involved. The NFL, NBA, MLB and NHL all prohibit employees and players from betting on their own league games, although some gambling in separate areas is allowed.Legalized betting has certain security advantages in that unusual betting patterns such as large bets being placed on a random player’s performance can be immediately flagged. In some cases, sportsbooks have taken down odds on certain events to protect against manipulation.Still, experts like Taylor note that companies’ own financial interests may bring some of that into question. And across the sports market, he says the large number of players and scope of micro bet possibilities makes potential manipulation “easier to hide.”
What is prop betting?
A prop is a type of wager that allows gamblers to bet on whether a player will exceed a certain statistical number, such as whether a basketball player will finish over or under a certain total of points, rebounds, assists and more.This kind of bet is key to the sports betting probe announced Thursday. Investigators pointed to a March 23, 2023, game involving Rozier, then playing for the Charlotte Hornets.Rozier played the first 9 minutes and 36 seconds of that game and not only did he not return that night, citing a foot issue, but he did not play again that season. He finished with five points, four rebounds and two assists a productive opening quarter, but well below his usual total output for a full game. At the time, many bettors turned to social media to say that something shady occurred regarding prop bets involving his stats for that night.More broadly, the NBA has expressed concern about prop bets, while other sports leagues have worried about the potential for manipulation.Earlier this year, Ohio Gov. Mike DeWine urged his state’s gambling commission to ban prop bets after Major League Baseball placed two Cleveland Guardians pitchers on leave during a sports betting investigation.
What are other pitfalls and social implications?
Sports betting also faces criticism for opening the door to addictive gambling.“The fact that it’s normalized, the advertising is aggressive, it’s available 24/7, the micro bets all of this is adding up to tremendous increase in usage across individuals,” said Taylor, citing algorithms and other incentives betting platforms use to increase engagement.Rose-Berman notes that platforms make the most off of returning “biggest losers.” Recent research suggests that young men in low-income communities are particularly affected by financil consequences tied to sports gambling.“Upwards of 90% of sports bettors are not really going to experience significant negative impacts but it’s really concentrated among those big losers and it’s going to be devastating for them,” he said.
Associated Press reporters Tim Reynolds in Miami, David Lieb in Jefferson City, Missouri, and Alan Suderman in Richmond, Virginia, contributed to this report.
Wyatte Grantham-Philips, AP Business Writer
Kering released its third-quarter 2025 financial results on Thursday, showing it reduced the slump it had seen in the previous quarter.
The French luxury goods house, which owns brands like Balenciaga, Gucci, and Yves Saint Laurent, reported 3.42 billion euros ($3.97 billion) in group revenue, down 5% year-over-year (YOY) compared to a 15% drop in quarter-two.
It also beat Wall Streets estimate of a 9.6% decline, according to consensus estimates cited by Reuters. Kering attributed the reduced revenue YOY, in part, to a negative currency effect of 5%.
Luxury is in a lull
As a whole, luxury brands have struggled in recent years, with blame boomeranging between factors like changing desires among young consumers, a domino effect from the COVID-19 pandemic, and a downturn in Chinaone of luxurys biggest markets.
At Kering, Gucci, specifically, was still in a lull, though it saw an improvement over quarter twos 25% drop. The brand just beat its predicted revenue of 1.32 billion euros ($1.53 billion), with 1.34 billion euros ($1.56 billion) and a 14% decline YOY, according to consensus estimates cited by CNBC.
Fashion designer Demna took over as Guccis artistic director in July after a decade in the same role at Balenciaga.
Yves Saint Laurent had a 4% decrease in revenue YOY, while other parts of the business saw an uptick in YOY revenue: Bottega Veneta is up 3% and Kering Eyewear is up 7%.
The new boss is not especially happy with the results
Kerings third-quarter performance, while representing a clear sequential improvement, remains far below that of the market, Kering CEO Luca de Meo said in a statement. This reinforces my determination to work on all dimensions of the business to return our Houses and the Group to the prominence they deserve. We are working relentlessly on our turnaround, as shown by our recent decisions.
De Meo, previously the chief executive of automotive giant Renault, took the helm at Kering on September 15, most of the way through quarter three. Former CEO François-Henri Pinault stayed on as chairman of the board of directors.
Kerings shares (EPA: KER) were up 8.7% at close on Thursdaya high for 2025before falling over 4% during trading on Friday.
The earnings report comes only a few days after Kering announced the all-cash sale of its beauty division to LOreal for 4 billion euros ($4.6 billion).
That deal is expected to close in the first half of 2026 and gives LOreal ownership over the House of Creed high-end fragrance company and licenses for brands including Balenciaga, Bottega Veneta, and Gucci. Kering will receive royalty payments from LOreal.
The latter has owned the beauty license for Kerings Yves Saint Laurent, since 2008.
Alaska Airlines said its operations have resumed Friday after it had to ground its planes for hours because of an information technology outage.
The airline said in a statement that 229 flights were canceled because of the outage and that more flight disruptions were expected as it worked to reposition aircraft and crews.
Alaska Airlines said it is working on getting travelers affected by the disruption to their destinations.
It asked that passengers check their flight status before heading to the airport.
The grounding Thursday affected Alaska Air and Horizon Air flights.
Hawaiian Airlines, which was bought by Alaska Air Group last year, said its flights were operating as scheduled.
In July, Alaska grounded all of its flights for about three hours after the failure of a critical piece of hardware at a data center.
There has been a history of computer problems disrupting flights in the industry, though most of the time the disruptions are only temporary.
The story has been updated to correct the time element of operations resuming to Friday, from Thursday, and the day of the grounding to Thursday, from Wednesday.
President Donald Trump announced he’s ending “all trade negotiations” with Canada because of a television ad opposing U.S. tariffs that he said misstated the facts and called “egregious behavior” aimed at influencing U.S. court decisions.The post on Trump’s social media site came Thursday night after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the U.S. because of the threat posed by Trump’s tariffs. Trump’s call for an abrupt end to negotiations could further inflame trade tensions that already have been building between the two neighboring countries for months.Trump posted, “The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs.”“The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts,” Trump wrote on his social media site. “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.”Carney’s office didn’t immediately respond to a request for comment. The prime minister was set to leave Friday morning for a summit in Asia, while Trump is set to do the same Friday evening.Trump, a Republican, was still at it on Friday morning, furiously posting on his social media site that “CANADA CHEATED AND GOT CAUGHT!!!” on the tariff ad.“THE UNITED STATES IS WEALTHY, POWERFUL, AND NATIONALLY SECURE AGAIN, ALL BECAUSE OF TARIFFS!” he wrote in a separate post on his Truth Social account. “THE MOST IMPORTANT CASE EVER IS IN THE UNITED STATES SUPREME COURT. GOD BLESS AMERICA!!!”Earlier Thursday night, the Ronald Reagan Presidential Foundation and Institute posted on X that an ad created by the government of Ontario “misrepresents the ‘Presidential Radio Address to the Nation on Free and Fair Trade’ dated April 25, 1987.” It added that Ontario did not receive foundation permission “to use and edit the remarks.”The foundation said it is “reviewing legal options in this matter” and invited the public to watch the unedited video of Reagan’s address.As for the Supreme Court, Trump is referring to a case scheduled for early November in which the justices will consider the legality of his sweeping tariffs. Two lower courts have determined that Trump cannot unilaterally impose wide-ranging tariffs under an emergency powers law. His administration argues otherwise, saying he can regulate importation and that includes tariff policy.Carney met with Trump earlier this month to try to ease trade tensions, as the two countries and Mexico prepare for a review of the U.S.-Mexico-Canada Agreement, a trade deal Trump negotiated in his first term but has since soured on.More than three-quarters of Canadian exports go to the U.S., and nearly $3.6 billion Canadian ($2.7 billion U.S.) worth of goods and services cross the border daily.
Trump said earlier this week that he had seen the ad on television and said that it showed that his tariffs were having an impact.“I saw an ad last night from Canada. If I was Canada, I’d take that same ad also,” he said then.In his own post on X last week, Doug Ford, the premier of Ontario, posted a link to the ad and the message: “It’s official: Ontario’s new advertising campaign in the U.S. has launched.”He continued, “Using every tool we have, we’ll never stop making the case against American tariffs on Canada. The way to prosperity is by working together.”A spokesperson for Ford didn’t immediately respond to a request for comment Thursday night. But Ford previously got Trump’s attention with an electricity surcharge to U.S. states. Trump responded by doubling steel and aluminum tariffs.The president has moved to impose steep U.S. tariffs on many goods from Canada. In April, Canada’s government imposed retaliatory levies on certain U.S. goods but it carved out exemptions for some automakers to bring specific numbers of vehicles into the country, known as remission quotas.Trump’s tariffs have especially hurt Canada’s auto sector, much of which is based in Ontario. This month, Stellantis said it would move a production line from Ontario to Illinois
Associated Press writers Seung Min Kim in Washington and Rob Gillies in Toronto, Ontario, contributed to this report.
Will Weissert, Associated Press
I will never forget the day I realized how rare it is to see businesses support parentsor what a huge impact even the tiniest efforts can make.
Were just going to run into the store for a few quick things! I called to my two kids with confidence as I unloaded them from the car, skipping the bulky stroller and putting my 1-year-old in the shopping cart seat.
But what should have been a simple trip took a turn when we unexpectedly needed to visit the restroom. As any mom knows, this is where things can start to unravel: You cant take the cart inside, so what are you supposed to do with your not-yet-walking child while you help the bigger one use the toilet? And how are you supposed to use the toilet yourself while also holding a squirmy baby?
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I opened the door and braced myself for the chaos that would certainly comeso when I stepped into a large stall and saw a strap-in baby holder attached to the wall, I could have wept with relief.
Then, the appreciation rolled in: These wall-mounted baby safety seats are a game changer for parents who are tasked with taking kids to the restroom.
But then I was hit with confusion: Why are simple considerations like this one so rare to see? Why am I so impressed with what should really be considered the bare minimum when it comes to supporting parents in public places?
Since thenduring countless visits to kid-friendly spaces like the zoo, the pediatricians office, department stores, and public parksIve always noticed and questioned how businesses support (or dont support) parents. (You know what would make life unbelievably easier for parents? A $15 step stool so kids can reach the sink to wash their hands. I think about this almost every day.)
https://www.threads.com/@motherspeak/post/DMaDCwwOV6G?xmt=AQF0ERX0a5kpyUnw-O98LoVt3rNq8jKzxZktM8aRA52h-A&slof=1
Appealing to parents isnt just a do-good strategy, eitherits good business.
Gen alphaborn between 2010 and 2025is on track to be the biggest generation ever in history, says Lauren Smith Brody, founder of The Fifth Trimester, a business strategy firm focused on moms. So anything retailers and public spaces can do to welcome that generation now will only build brand loyalty that will pay off later.
Kid-friendly policies and spaces signal a friendly, inclusive, thoughtful culture overall, she says. The step-stool in the bathroom and the animatronic ear of corn [at Stew Leonards, a grocery chain in the northeast] attracts and retains parents as customers, but they also signal to everyone: Humanity is valued here; joy and ease are a part of this experience. Numerous studies indicate that Gen Z and younger millennials are also values-driven in their shopping.
Recently, we asked our audience what considerations theyd like to see businesses make to better appeal to parentsand hundreds of moms weighed in.
What did we learn? One: Prioritizing parents isnt unheard of; some industries and places are already getting it right. And two: The most common requests from parents and caregivers are mostly minor, reasonable, and would go a long way for families and businesses. Heres a look at what categories are getting things rightand how businesses can improve their family-friendly policies.
Hotels have long catered to familiesand are doing even more today
Many hotels offer smart amenities to make life a little easier for parentsincluding complimentary kids gear, babysitting services, and much more.
The Four Seasons, in particular, has long been known to cater to families. The Philadelphia and Baltimore properties will provide you with a Baby Brezza bottle washer, bottle dryer, breastmilk & formula warmer, and more. The Four Seasons Hotel Boston features a kids toy closet located behind the check-in desk for little ones to explore while caregivers check in and out. This allowed us a few moments to get everything sorted, and the kids were in heaven, said Cassie Shortsleeve, a mom of three in Boston (and a cofounder of Two Truths). In Orlando, you dont need to worry about packing swim diapers (theyre provided), and you can request items to childproof a room.
Properties like Carmel Valley Ranch (see: the “Munchin Menu”) and Wequassett Resort & Golf Club also have partnerships with major childrens brands, such as Nuna and Maxi-Cosi, to borrow or rent gear like strollers, playards, baby carriers, and more.
Some shopping destinations have become more family-friendly
Ikea was a big winner among our responses. They have that Scandinavian family-friendliness, says Marissa Lanterman, a mom of one in Baltimore. Family parking, cart and stroller accessibility, high chairs in all eating areas, changing tables in bathrooms, step stools for kids at sinks, comfy baby care rooms, Smland . . . you really cant beat it.
For new moms in particular, Nordstrom was a standout shopping destination mentioned multiple timesmostly for its family restrooms and clean, comfortable lactation lounges with couches and sinks.
Another favorite: Wegmans. They have built-in stepping stools in the bathroom at the sinks, a baby holder in the stalls so you can use the toilet in peace, a wall of every size diaper available for free if needed, and little car carts to keep toddlers occupied while shopping, says Sara Creary, a mom of one in Pittsford, NY.
Many eateries keep kids in mind
One (potentially surprising) space that many moms praised? Breweries. Our loal brewery is like our own little Europea public space for play and relaxation for kids and adults alike, says Lily Dunlop, a mom of two in Seattle.
Kelsey Glynn, a mom of three, says her favorite brewery even brings out complimentary kid snacks: At BJs Restaurant & Brewhouse here in Arizona, they immediately serve a plate of fruit and Goldfish to help manage kids hunger before their food arrives at the table.
A coffee shop I went to had a kids corner with a play kitchen and espresso machine, says Christa Ursini, a mom of one in South Salem, NY. It was magicparents could enjoy their coffee while their kids played.
Public spaces can be kid-friendly
Its not just specific businesses that cater to kids and families, but public places more generally, as well.
Some popular family travel destinations are full of family-friendly spots, but also put families first when it comes to strategic planning and development: Newport, RI, for one, is dotted with parks and playgrounds throughout and in between more formal stops like an aquarium or an old-school arcade that may be on an itinerary.
To that point, moms we spoke to highlighted that public places that attract kids, such as playgrounds and parks, should have some key components: water fountains, bathrooms, shade, and fencingall critical aspects for parents that can make or break the decision of where to spend your time.
Pop-up lactation podssuch as Mamavaare another great feature for businesses of all sizes, but especially handy in spaces like airports, zoos, and amusement parks.
Theres more to be done: Heres what parents want
When we asked our audience how businesses could improve for parents, we were struck by the similarity between responseswith many requests, especially very basic ones, appearing again and again. Here are the main takeaways.
In bathrooms:
Baby changing tables in both the womens and mens rooms, ideally located within a stall for privacy. (Its really jarring to go to a restaurant that has high chairs and crayons at the table, but not a single baby changing table in any bathroom, one mom told us. Am I supposed to put my baby on the floor?)
Lower sinks or step stools that allow small kids to wash their hands
Paper towels as an alternative to loud hand dryers (which many kids are afraid of or sensitive to)
Bag hooks and/or shelves near sinks and changing stations
Within dining establishments:
Disposable table covers so kids can eat off a sanitary surface
High chairs and booster seats that areand this is important!kept clean
Food-safe wipes available for parents to clean tables and high chairs as needed
Stainless steel kid-sized cutlery
Kids cups with lids
Disposable bibs
Activities for kidsfrom basic (crayons and coloring sheets) to bonus (toy basket, Magna-Tiles, books, etc.)
Healthier, lighter kids’ menu options (fruit, cheese, crackers, nuts, veggies & dip, etc.)
Outdoor play areas (when space allows) are huge bonus that many parents will seek out
In stores:
Aisles that are wide enough to accommodate strollers
Increase curbside pick-up options
More parking spots reserved for families (either near the door or near the cart return)
Simple treats that make kids excited to visit (like stickers, la Trader Joes)
In a society that is woefully lacking systemic support for parents and often unconducive to kids, businesses have a powerful opportunity to step up and set new standards that show families they are seen, appreciated, and valued. Any business that goes the extra mile for parents really stands out, driving word of mouth and customer loyalty, says Brody. And any public space that makes parents feel good about the love and work theyre pouring into their kids is going to win that business in a big way.
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Yesterday, Target Corporation announced news that no one wants to hearespecially just before the holidays.
The Minneapolis-based retail giant informed employees that it is gearing up to eliminate 1,800 corporate roles at the company. Heres when the layoffs will happen and what it means for the company and its employees.
Target to cull its corporate workforce by 8%
On Thursday, Targets chief operating officer, Michael Fiddelke, who is set to become the companys new CEO in February, reportedly sent a memo to employees at the 440,000-strong company.
According to numerous media reports, Fiddelkes memo didnt beat around the bush: the company has decided to eliminate 1,800 positions.
Yet the layoffs will not hit the majority of the companys workforce. Much of its 440,000 employees work as retail members across its nearly 2,000 stores in the United States. The layoffs are not expected to impact these retail employees, who the company will rely heavily on during the upcoming holiday period.
Instead, the job cuts will hit Targets corporate workforce. And as CNBC notes, citing the memo, 1,800 positions will be eliminated. The eliminations include 1,000 direct employee layoffs and another 800 roles that will no longer be filled.
In his memo sent to Target staff, Fiddelke said the elimination of 1,800 corporate roles represents a reduction of about 8% of our global HQ team.
Fiddelkes memo included the usual platitudes that company leadership makes when laying off employees, noting the real impact that the layoffs will have on Targets team and that the company never makes such moves lightly.
However, he also argued the layoffs are a necessary step in building the future of Target and enabling the progress and growth we all want to see.
Of course, the future of Target will be of little consequence to those losing their jobs ahead of the holidays.
Fast Company has reached out to Target for comment and will update this story if we hear back. A spokesperson told CNBC that, in addition to severance packages, those laid off will receive benefits and pay until January 3.
Competitors Walmart and Amazon are thriving
The layoffs may not be much of a surprise to people who have been paying attention to Target’s recent struggles.
While the companys competitors, such as Walmart and Amazon, have seen their businessesand stock pricesthrive, its been the opposite story for Target.
As my colleague Elizabeth Segran explored in May, Target had a “terrible, horrible, no good, very bad year.” In January, in the lead-up to Donald Trumps inauguration, Target announced it was reversing course on its celebrated diversity, equity, and inclusion (DEI) commitments.
Many loyal Target customers saw that as capitulation, and the backlash, in the form of boycotts, was swift, with foot traffic to many of its stores falling by up to 7.7%.
And its not like President Trump has done Target many favors, as his tariffs have had a measurable impact on Target’s costs.
The company acquires most of its items from overseas, including China. It must now pay more for those products and thus take a hit on its bottom line, or pass the cost of those price increases onto customers, which could lead to them buying less.
And those customers are already under pressure from inflation, which has caused them to pull back on their discretionary spending. Thats a big problem for Target, as the majority of the goods it sells are discretionary items.
All of these issues are something that incoming CEO Fiddelke is going to have to fix, and, with yesterdays announcement, it appears that he thinks layoffs are part of that fix.
TGT investors dont seem to care about the layoffs
So far at least, Target’s investors don’t seem to think these layoffs will meaningfully impact the company in the short term.
Often when a corporate giant announces mass layoffs, the companys stock price spikes. Thats because layoffs are seen as the fastest way for a company to reduce its costs, which can help increase profits.
But looking at Target’s stock price (NYSE: TGT) this morning, it appears as if investors are shrugging off the news. As of this writing, TGT stock is up just half a percent to $94.75 in premarket trading. Yesterday, TGT shares closed up just a quarter of a percent to $94.25.
This suggests that investors are going to need to see a lot more change at the companyand with its financesto get them excited about the stock again.
And TGT stock has had a bad run as of late.
As of yesterdays close, TGT shares were down more than 30% since the year began. Over the past 12 months, TGT shares have fallen more than 36%. And over the past five years, TGT shares have dropped a staggering 41%.
During that same five-year timeframe, shares in competitor Walmart (NYSE: WMT) are up 122% and shares in Amazon.com (Nasdaq: AMZN) are up almost 38%.
One of my Bentley University students put it plainly the other day: AI taking entry-level jobs is a when, not an if. But in venture capital, 70% of the decision is reading the founder and teamand thats something AI cant do.
That simple breakdown , 70% people, 30% productflips the usual narrative about finance. For decades, finance was defined by numbers. Analysts lived and died by the spreadsheets. Today, AI can run discounted cash flows, parse a term sheet, and size a market faster than any junior associate. But if you talk to people in venture capital, theyll tell you the math has never been the most important part. The numbers matter, of course, but the difference between betting on a future unicorn and losing it all is whether you can read the humans across the table.
AIs takeover of the crunching jobs
Students see whats coming. The entry-level finance roles that once trained armies of analysts are increasingly exposed to automation. AI models can scan thousands of comparable companies in seconds, build slide decks, even flag anomalies that a first-year hire would have spent a weekend catching. In fact, McKinsey estimates that nearly half of finance tasks could already be automated by existing AI tools. What was once seen as a rite of passagethe long hours bent over Excelmay soon look as outdated as typewriters in an accounting office.
Thats why many students I teach dont just worry about if AI will change their jobs. They assume it already has. The conversation now is how to build careers in finance when machines are better, faster, and cheaper at the very tasks that used to get you in the door.
The venture capital exception
Venture capital, especially at the earliest stages, offers a counterintuitive lesson. The math can only take you so far. Market sizing, revenue projections, even technical due diligenceall of it is valuable, but none of it predicts success the way the founder does. Investors Ive spoken with put it bluntly: youre betting on people, not just products.
Thats the essence of the 70/30 rule my student repeated: 70% of the investment decision is about the team. Only 30% is about the idea. Surveys of venture investors back this up. First Round Capital, for example, has consistently found that founder quality outranks product or market sizing in early-stage decisions. You want founders with resilience, persuasion, and the grit to pivot when the idea inevitably changes. AI can tell you the addressable market. It cannot tell you if this particular founder has the charisma to convince skeptical investors, the judgment to hire the right people, or the sheer stubbornness to keep going after three failed prototypes.
As one early-stage investor told me recently, AI can show me a founders track record in five seconds, but it cant tell me whether they can read a room or take a punch. Thats still my job.
Why Gen Z gets it
What strikes me is how quickly students are internalizing this. Rather than seeing their careers in finance as doomed, they are recalibrating. They want to be the people who can build relationships, persuade others, and trust their instincts. Theyre preparing not to be number crunchers, but decision-makers.
In class discussions, they talk about internships where AI already plays a role in screening deals. Their takeaway isnt despairits clarity. They see that the irreplaceable part of the job is not working the models but reading the room. They know AI may one day suggest which startup should succeed, but it wont sit across the table from a founder at 11 p.m., hear the quiver in their voice, and know whether thats nerves or conviction.
Gen Z, often criticized for being too soft, may be better positioned than we think. Theyve grown up digital. They understand the strengths of machines, but they also see the limits. Theyre comfortable letting AI do the heavy lifting if it means their human skills rise in value.
Lessons for the future of work
This shift should force us to rethink not only finance, but the future of work itself. If venture capital is a case study, the lesson is that industries once defined by quantitative rigor may end up placing even greater value on qualitative judgment. Harvard Business Review has made a similar point, noting that as AI scales technical analysis, soft skills are fast becoming the hardest skills to replace.
The irony is rich: the most number-driven fields may be the ones where numbers matter least. And if thats true, Gen Z might just be the generation that restores humanity to the financial worldnot by rejecting technology, but by mastering what machines cant.
Back to the 70/30 rule
That brings me back to my student. Their comment wasnt just about venture capital. It was about what comes next in finance, and perhaps beyond. If AI eats the numbers, the real work will be reading people.
AI owns the math. But the gutthe judgment, empathy, and intuition that turn data into decisionsstill belongs to us.
In the end, the algorithms will get faster, but the best investors will always pause, look across the table, and trust what no machine can calculate: the human pulse of possibility.
Hello again, and thank you, as always, for spending time with Fast Companys Plugged In.
Apple is legendary for figuring out what people want before they realize they want it. But since 2021, its MacBook Pro hasn’t been like that at all. Instead, this venerable laptop’s recent design has reflected Apple’s willingness to trust its customers’ judgmenteven when it’s been at odds with the company’s own instincts.
In part, that’s because of a 2016 reimagining of the MacBook Pro that didn’t stick. Atypically, Apple then went on to reverse many of the changes it had made. The fancy function-key replacement known as the Touch Bar went bye-bye. And several mundane-but-useful features Apple had axed came back, including the MagSafe power connector, HDMI port, and SD Card slot.
The result was a computer that was noticeably chunkier than the MacBook Air. But it was also particularly well tailored to the needs of people who prize sheer usefulness above all else. It was a workhorseyou know, professional.
The newest 14-inch MacBook Pro, which I’ve been using for a little less than a week (the company provided a unit for review), retains that vision. Actually, it retains everything about its immediate predecessor except the chip. A classic example of a “speed bump” upgrade, the machine is now powered by Apple’s next-generation M5 processor. So are updated versions of the iPad Pro and Vision Proan unusual example of disparate Apple products shipping with the same new chip all at once.
In another break from recent years, Apple isn’t immediately rolling out the new MacBook Pro in multiple variants: fast, faster, and fastest. Only the entry-level 14-inch model is getting a new chip. Higher-end Pros (including the 16-inch version) are still equipped with last year’s M4 Pro and M4 Max chips, leaving the MacBook Pro lineup in transition.
For now, the M5 MacBook Pro, with a starting price of $1,599, occupies a middle ground among Apple laptops. Many people will be delighted with the cheaper, lighter, thinner MacBook Air, an exemplary laptop in its own right. Others whose jobs involve particularly computationally intensive work, such as heavy-duty video editing, might opt for the M4 Pro or M4 Max versions of the MacBook Pro, or wait for M5 Pro and M5 Max ones. Apple itself described the M5 chip as suitable for “college students, business users, and aspiring creators,” a pretty concise way of encompassing the M5 MacBook Pro’s sweet spot.
Still, even though I’m a happy owner of a 15-inch MacBook Air, spending time with the new MacBook Pro made clear to me why some people would gladly pay a premium for it.
For starters, there are several fundamental ways in which the MacBook Pro is enough better than the MacBook Air to matter. That starts with the screen, which has brighter Mini-LED lighting and, thanks to ProMotion technology, smoother scrolling. The $150 Nano-texture display option, which Apple included on my review unit, does the job when it comes to the promised glare reduction: I felt more like I was reading off paper than a shiny LCD.
The Pro’s six-speaker audio system, with a subwoofer, is a significant upgrade over the Air’s. Its claimed battery life is longerup to 24 hours of video streaming versus 18 for the Air. Yes, that’s an upgrade from impressively long to remarkably long, but anything that reduces a portable computer’s reliance on chargers and AC outlets is a blessing.
Buy a MacBook Pro, and you may also be able to avoid dealing with the dreaded, easy-to-misplace adapters known as dongles. It has three USB-C ports versus the Air’s two, and they’re divvied between the left and right sides, letting you plug in cables any which way without having to snake them around. As for the built-in HDMI and SD Card slot, their survival in 2025 is miraculous given that Apple tried to eliminate them almost a decade agobut I, for one, would use the SD slot all the time to transfer photos and videos from my Fujifilm camera.
Okay, how about that new M5 chip? Apple emphasizes its improved performance in AI-intensive tasks such as applying filters to video and running local LLMs. Jason Snell of Six Colors benchmarked the new MacBook Pro and found it substantially quicker than the MacBook Air. His charts also show MacBook Pro models with M4 Pro and M4 Max chips remaining faster still, because they have more CPU and GPU cores than the M5.
In my informal experiments with tasks such as editing images in Photoshop and outputting video projects from DaVinci Resolve, the M5 MacBook Pro was a rocket. But with the exception of epoch-shifting moments such as Apple’s 2020 transition from Intel chips to ones it designed itself, the launch of a new processor is rarely a reason to rush out and buy a new computer. Instead, most people should hold off on springing for a new machine until their current one is showing its agea buying strategy Apple tacitly acknowledges in its marketing for the M5 MacBook Pro by comparing its performance to its M1 ancestor, which dates to 2020.
The best reason to get a new computer is as an insurance plan against future obsolescence. The M5 MacBook Pro is just a faster version of a familiar laptop. But it’s well positioned to stay useful even as AI becomes a more pervasive element of MacOS and Mac apps.
Apple certainly won’t leave the MacBook Pro feeling so familiar forever. Last week, Bloombergs Mark Gurman reported that the company is currently working on a thinner, lighter version with an M6 chipand the Mac line’s first-ever touchscreen. Here’s hoping that no matter how much the MacBook Pro evolves, it retains the quiet emphasis on straightforward, well-appointed productivity that defines it.
Youve been reading Plugged In, Fast Companys weekly tech newsletter from me, global technology editor Harry McCracken. If a friend or colleague forwarded this edition to youor if you’re reading it on FastCompany.comyou can check out previous issues and sign up to get it yourself every Friday morning. I love hearing from you: Ping me at
Meta is working to make its apps better for boomers. This week the company announced new UX features designed to deter scammers and make Meta’s apps safer for older adults.
Scammers today use all kinds of tricks to part people from their money, like soliciting personal information under the guise of fake government benefits, brazenly pretending to be customer service support, and chatting up unwitting people in the comments section of a real businesss social media page to lure them to another page.
[Image: Meta]
New features for older users
Meta says its new in-app warnings are meant to combat that type of behavior, and will be triggered by suspicious activity.
On the chat app WhatsApp, users who attempt to share their screen with an unknown contact during a video call will get a warning that says “Only share your screen with people you trust.” The pop-up notes that sharing your screen lets those you share it with “see anything you display on your screen, including sensitive details like your banking info.”
On Messenger, Meta says it’s testing more advanced scam detection in chats. The company says that when scam detection is enabled, suspicious chats will trigger a warning that prompts users to request an AI review, which will explain why the message was flagged, plus provide tips for staying safe online. The feature can be toggled off or on by going to privacy and safety settings and tapping scam detection.
[Image: Meta]
An example AI review Meta shared of a flagged suspicious message notes common scam signs such as job offers promising fast cash or the ability to work from home for a job that cant be done remotely. The AI review goes on to suggest the recipient of the message ignore job offers that seem too good to be true and never agree to send gift cards, a wire transfer, or other forms of payment to a stranger. That includes strangers who are famous.
Scamming is on the rise
Scammers have faked the likenesses of public figures such as Taylor Swift to make it appear as if the pop star is promoting a cookware set giveaway, and actors like Helen Mirren and Jamie Lee Curtis have in recent months warned fans about scammers using their likeness on Instagram.
Meta, which was hit this month with a class-action lawsuit that alleges it profits off of impersonation scam ads, announced it’s investing in cracking down on celebrity scams in the EU, U.K., and South Korea by using facial ID technology and AI.
[Image: Meta]
Online scams are a real problem for Meta and other companies. Meta says since the start of year, it’s disrupted nearly 8 million Facebook and Instagram accounts associated with criminal scam centers, and these and other scams have proven costly for victims.
According to the FBI’s Internet Crime Report, in 2024 people ages 60 and older lost a total of $4.8 billion to fraudmore than any other group. That’s up from more than $3 billion in 2023.
Best practice for designing digital products for an aging population often calls for features like bigger fonts and intuitive design, but it also means making it safe from scammers and fraudsters who target older individuals.
As Meta attempts to shore up online safety for young people by launching teen accounts with heightened parental controls, it’s clear the company also has work to do for its users at the other end of the age spectrum.
