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• Nike CEO John Donahoe Steps Down

• American Airlines Eyes Exclusive Citigroup Partnership

• Today in AI & Tech

• Sun Belt Voters Favor Trump Over Harris, Setting Stage for Competitive Showdown

  and more…

BUSINESS

Nike CEO John Donahoe Steps Down, Elliott Hill to Lead Amid Restructuring

Nike announced Thursday that CEO John Donahoe will step down, and veteran Elliott Hill will come out of retirement to take over leadership. Donahoe, who has been CEO since January 2020, will retire on Oct. 13, with Hill taking charge the next day, while Donahoe stays on as an advisor until January. Despite a recent 8% rise in shares, Nike’s stock is down over 25% this year. The company is undergoing restructuring, focusing on direct-to-consumer sales but facing criticism for losing its innovation edge. In June, Nike warned of a 10% sales drop, citing weak demand in China and uneven global consumer trends.

American Airlines Eyes Exclusive Citigroup Partnership, Ending Barclays Deal

American Airlines is in discussions to make Citigroup its exclusive credit card partner, potentially ending its long-standing partnership with Barclays that began after American's 2013 merger with US Airways. The airline aims to consolidate its credit card business to boost revenue from its loyalty program. Talks are ongoing, with no set timeline, and any agreement would need regulatory approval. Co-brand deals with banks are fiercely contested, as they offer access to millions of loyal customers, but rising costs and regulatory scrutiny have tightened margins for banks. While American claims the largest loyalty program, it earned $5.2 billion last year, trailing Delta's $7 billion from its American Express partnership.

Disney Phases Out Slack After Major Data Hack, Shifts to New Collaboration Tools

The Walt Disney Company will stop using Slack for internal communication after a major data breach leaked over a terabyte of company data. Disney had already begun transitioning to new collaboration tools and notified employees that most business units would cease using Slack by the end of the next fiscal quarter, as per a memo from CFO Hugh Johnston. The breach exposed sensitive data but is not expected to significantly affect Disney’s operations or financial performance. Despite this move, Disney will continue using Salesforce products across various business functions like stores and call centers. Meanwhile, twenty civil rights groups have called on Fortune 1000 companies to recommit to diversity, equity, and inclusion (DEI) after several major firms, including Ford and Tractor Supply, scaled back their DEI efforts. The letter warned that abandoning DEI could harm business success and make workplaces less safe and inclusive, with recent cutbacks influenced by the 2023 Supreme Court ruling on affirmative action.

Abandoning DEI Puts Business Success at Risk, Civil Rights Groups Warn Fortune 1000

Twenty civil rights organizations urged Fortune 1000 companies to renew their commitment to diversity, equity, and inclusion (DEI) after several major firms, including Ford, Tractor Supply, and Brown-Forman, announced changes or cuts to their DEI initiatives. The letter warned that abandoning DEI would harm business success and neglect responsibilities to employees, consumers, and shareholders, making workplaces less safe and inclusive. Many companies began scaling back DEI efforts, which surged in 2020 following the racial justice movement after George Floyd’s death, with legal experts citing the 2023 Supreme Court ruling on affirmative action as a possible influence.

TECH

Today in AI & Tech

Future Chips Aim to Meet AI Energy Demands as Industry Shifts Toward Custom Designs

Future computer chips could help address the growing energy demands of generative AI, but chip manufacturers are asking for a slowdown in the rapid pace of change in AI development. Graphics processing units (GPUs) have been crucial for training and running large-scale AI models, providing high performance and flexibility. Nvidia's dominance in the GPU market has led to its trillion-dollar valuation, though companies like Advanced Micro Devices (AMD) also produce these chips. As the industry moves toward more standardized model designs, there’s potential to create custom chips that are less programmable, making them smaller, cheaper, and more energy-efficient, according to AMD CEO Lisa Su.

Amazon Launches Generative AI Tools to Help Sellers Create Video Ads from Images

Amazon is introducing new generative AI tools for businesses selling on its platform, enabling them to create video ads from a single product image. The two tools announced are the live image generator and video generator, designed to help sellers produce video ads without extensive time or financial investment in production. Live images function like animated GIFs, transforming static product photos into short animations to capture shoppers' attention. In contrast, the video generator offers more detailed custom AI-generated videos tailored to highlight a product's unique features. Today’s TechCrunch Minute discusses the potential and ongoing questions about Amazon's generative AI applications.

Microsoft Backs Nuclear Power to Fuel Energy-Hungry AI Data Centers

Data centers that train large language models for AI consume massive amounts of energy, prompting Microsoft to support nuclear power. The company recently signed a significant deal with Constellation Energy to purchase power from the Three Mile Island Unit 1 nuclear plant, which has been dormant since 2019. Constellation plans to invest $1.6 billion to revive the plant, pending regulatory approval, with Microsoft committing to buy all its power for the next 20 years. The restored reactor will be renamed the Crane Clean Energy Center and is expected to create thousands of jobs and boost Pennsylvania's economy significantly. Other tech firms, including OpenAI and Amazon, are also exploring nuclear energy to power their operations.

Other

Sun Belt Voters Favor Trump Over Harris, Setting Stage for Competitive Showdown

Voters in the Sun Belt believe Donald Trump improved their lives during his presidency and express concerns about a potential Kamala Harris administration, setting the stage for a highly competitive race in three key states, according to recent polls by The New York Times and Siena College. The polls show Trump leading in Arizona and maintaining an advantage in Georgia, both states he lost to Biden in 2020. In North Carolina, where Democrats haven't won since 2008, Harris trails Trump by a narrow margin. Conducted between September 17 and 21, the polls highlight the tight nature of the upcoming presidential contest in a divided nation.

New iScience Study Resolves Kaspar Hauser Mystery, Rules Out Kidnapped Prince Theory Through Advanced DNA Analysis.

Recent research published in iScience has definitively clarified the mystery surrounding Kaspar Hauser by analyzing hair samples with advanced techniques originally developed for ancient DNA. Scientists found that Hauser's mitochondrial DNA (mtDNA) did not match that of Baden family members, effectively ruling out the theory that he was a kidnapped prince. Dr. Dmitry Temiakov praised the study for addressing discrepancies in previous analyses and offering comprehensive insights into the genetic lineage, showcasing the power of molecular genetics in solving historical enigmas.

California firefighter arrested for arson, accused of setting five blazes amid ongoing wildfires.

A California firefighter, Robert Matthew Hernandez, was arrested on suspicion of arson, accused of setting five fires in the state’s wine country between Aug. 15 and Sept. 14 while off-duty. The 38-year-old fire apparatus engineer's arrest comes as wildfires have burned nearly a million acres and forced thousands to evacuate this year.

It's a Wrap!

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Sarah