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Daily Mail
32 minutes ago
- Daily Mail
Wall Street CEOs finally say the quiet part out loud as they admit apocalyptic reality for American workers: 'Literally half'
The dam is breaking. In a terrifying admission that signals a seismic change in corporate America, the CEO of one of the biggest carmakers in the US has broken cover to admit the devastating effects AI will have on the workforce. While some execs have attempted vague assurances for American workers, Ford Motor CEO Jim Farley has predicted the rise of AI will take a sledgehammer to jobs. 'Artificial intelligence is going to replace literally half of all white-collar workers in the U.S.,' Farley told author Walter Isaacson at the Aspen Ideas Festival last week. 'AI will leave a lot of white-collar people behind.' Bosses have been cautious about publicly admitting the reality of how many jobs could be cut from their companies as a result of AI. That tide appears to be turning however, and Farley's comments are among the most transparent. It comes after Amazon's CEO announced brutal workforce cuts late last month as the company continues to implement AI in its operations. While AI's impact will not be uniform, it is likely to affect administrative tasks. Andy Jassy said he plans to reduce the company's corporate workforce over the next few years as the tech will make certain roles redundant. Jassy told employees in a note seen by the Wall Street Journal that AI was a once-in-a-lifetime technological advancement and it has already transformed how Amazon operates. The sentiment was echoed by the CEO of Anthropic, who recently warned AI could wipe out half of all entry-level white-collar jobs. Dario Amodei called on other business leaders to stop 'sugarcoating' the truth and to prepare for the fact that US unemployment could rise to between 10 and 20 percent. Some have taken up the call, including Micha Kaufman, CEO of the freelance marketplace Fiverr, who told staff that they will have to accept that AI will change their jobs and the business itself. 'This is a wake-up call,' he wrote in a memo. 'It does not matter if you are a programmer, designer, product manager, data scientist, lawyer, customer support rep, salesperson, or a finance person — AI is coming for you.' Shopify recently announced that it would not be making any new hires unless managers first proved that the job could not be done by AI. Marianne Lake, head of JPMorgan Chase's consumer and community business arm, told investors in May that she expected to shed 10 percent of her staff in the next few years and replace them with AI tools. Amazon boss Andy Jassy warned that AI will lead to job cuts Even major tech companies have begun brutal job cuts as they race to invest in AI development. Microsoft confirmed on Wednesday that it would be slashing around 9,000 jobs as it continues to plough money into AI. 'We continue to implement organizational changes necessary to best position the company and teams for success in a dynamic marketplace,' Microsoft said in a statement. Last month Procter & Gamble, which makes diapers, laundry detergent, and other household items, announced it would cut 7,000 jobs, or about 15 percent of non-manufacturing roles. In a change of fortunes, blue collar jobs appear to be more protected while college graduates with white-collar jobs in tech, finance, law, and consulting are taking the hit. Entry-level jobs are vanishing the fastest — stoking fears of recession and a generation of disillusioned graduates left stranded with CVs no one wants. College grads are now much more likely to be unemployed than others, official data shows.
Daily Mirror
39 minutes ago
- Daily Mirror
Flymo lawnmower cuts grass like a 'hot knife through butter' on sale
The 'lightweight' Flymo lawnmower is designed for medium to large-sized gardens Lawnmowers can cost hundreds of pounds, but gardeners need not spend a small fortune on a grass cutting device. There are lots of best-selling and affordable options out there, including a customer favourite from Flymo. Flymo's Speedi-Mo 360C Lawnmower has an RRP of £134.99; however, it's currently on sale at Amazon for £108. The brand says it is designed for use in medium to large-sized gardens, it also has a useful carry handle and a removable grass box. Users can also choose their cutting height, with five settings between 20 and 60mm. The device has more than 8,500 Amazon shopper reviews, notably for its ability to 'cut grass beautifully'. For shoppers who prefer storefront retailers, B&Q has a wide range of lawnmowers at various price points. For instance, this Einhell 32cm Rotary Lawn Mower is £69.95 - it has a three-stage single-wheel cutting height adjustment and a foldable guide bar. Back to Amazon's Flymo Speedi-Mo, a 72-year-old customer, said she found it 'easy to assemble', adding: "Not sure why some say the grass box is flimsy. I suspect they are not putting it together properly, as I find it quite solid. Also, it is easy to remove, empty, and put back. "I am so pleased with this mower. Grass had got really long and the mower went through it like a hot knife through butter. Not too heavy either. It is going to be so easy to maintain the lawn now." A second buyer had difficulty assembling it due to missing parts, they said: "Two (of the) right hand sections of the grass box have been sent so I can't get it together! No answer from Flymo's customer service line, so I have sent them a lengthy email to get a replacement grass box. Apart from that it was easy to put together and is flying across the first cut so far." Another shopper gave it 10 out of 10, writing: "Cuts my grass beautifully and very easy to move making it easy work! Went together easily too. 10/10." A second lawnmower option is from Yimbly, where the Thompson & Morgan Aerotek lawnmower is on sale for £116.99. Usually £159.99, it is on general sale for £117 but using the discount code SUMMERDAYS10 at the checkout shoppers can buy it for £116.99. Yimbly is an online marketplace owned by The Mirror's parent company, Reach Plc, and shipping on a customer's first order is free. The discount code is valid for use until July 31. A fourth Flymo Speedi-Mo buyer simply wrote: "Great little mower. Cut the grass beautifully."
Daily Mail
an hour ago
- Daily Mail
Battle of the billionaire yachts: Inside the most lavish boats owned by top moguls, celebrities and heiresses
Many of the world's billionaires are not shy about flaunting their fortunes, forking over millions on lavish estates, luxurious private jet rides, and in the latest craze: massive yachts. That's right, from sleek sailing vessels to floating mega-mansions complete with helipads and onboard pools, the superyacht has become the ultimate billionaire playground. Take Amazon founder Jeff Bezos, 61, for example - he owns an astounding 417-foot water vessel, called Koru, worth a whopping $500 million. The billionaire tech mogul is often seen vacationing in Europe with his now wife Lauren Sanchez, 55, on the expansive boat. Koru is a special place for this couple as it was where the billionaire proposed to the former journalist in 2023. But he's not the only wealthy star to spend a fortune on a big boat. Here, FEMAIL has put together a list of the most lavish yachts owned by sports stars, heiresses, entrepreneurs and filmmakers. Amazon founder Jeff Bezos' $500 million superyacht Amazon founder Bezos bought Koru in 2018, and it is named after the Maori word for 'new beginnings.' The boat comes complete with three decks, a pool, a helipad, three Jacuzzis, and a sun terrace - perfect for the 18 guests it can accommodate. It is the world's tallest sailboat with masts measuring 230 feet. There is also a wooden figurehead that bears a striking resemblance to Sanchez, though the former journalist insists it was modeled after the Norse Goddess Freyja. Koru was built by Oceanco, with exterior design by Dutch firm Dykstra Naval Architects, and naval architecture by Dykstra Naval Architects and Lateral Naval Architects, per Architectural Digest. Bezos - who is worth $226 billion - is reportedly charged an estimated $25 million a year to staff and operate Koru. Koru's dedicated support vessel Abeona, which cost $75 million, is similarly impressive. The accompanying boat has 246 feet of storage for the tycoon's helicopter, jet skis, and luxury cars. DreamWorks founder David Geffen's $590 million yacht Rising Sun is a 454-foot-long motor yacht owned by DreamWorks founder David Geffen, 82. The $590 million yacht was designed by Jon Bannenberg, built in 2004 by Germany 's Lurssen, and last refitted in 2007. It was initially built for the co-founder of Oracle Corporation, Larry Ellison, and is considered to be one of the largest yachts in the world, per SuperYacht Fan. David - who is worth roughly $8 to $9 million - has owned the massive boat since 2010 after only buying a half share initially in late 2006. The superyacht can accommodate 16 guests and has a gym, basketball court, wine cellar, helicopter pad and movie theater amongst its 82 rooms. David often has a star-studded list of celebrities on board including Leonardo DiCaprio, Bruce Springsteen, Gayle King, Julia Roberts, Maria Shriver, Oprah Winfrey, and Orlando Bloom to name a few. Geffen and his crew self-isolated in the Grenadines on Rising Sun during the COVID-19 pandemic. Filmmaker Steven Spielberg $250 million yacht The 357-foot superyacht, which was built in the Netherlands by luxury firm Oceanco in 2022, can carry 14 guests in its seven cabins as well as 30 staff across another 15 cabins Steven Spielberg, 78, and his wife Kate Capshaw are often seen enjoying their $250 million yacht Seven Seas. The 357-foot superyacht, which was built in the Netherlands by luxury firm Oceanco in 2022, can carry 14 guests in its seven cabins as well as 30 staff across another 15 cabins. The famous filmmaker - whose net worth is $5.3 billion - called the yacht Seven Seas after he sold his decade-old 282-foot yacht with the same name in 2021. He also chose the name in honor of his seven children, per SuperYacht Fan. Seven Seas, which was designed by Sinon Yacht Architecture & Design, boasts a large pool at the rear, a spa pool on the deck, and a crew of 30. There are some reports it also has a helicopter landing pad at the front. The megayacht is powered by twin MTU 20V 4000 M73L diesel engines that can produce 4,813 HP each and propel the vessel to 20 knots, according to Robb Report. Walmart heiress Nancy Walton Laurie's $300 million yacht Walmart heiress Nancy Walton Laurie, 74 - who is worth $15 billion and is the youngest daughter of co-founder James - owns Kaos, a $300 million yacht. Her yacht, originally named Jubilee, underwent a lavish transformation by designer Sam Sorgiovanni. The designer blended Arabian and European aesthetics with extravagant touches such as Crystal Caviar insets, silk carpets, and Iranian white onyx. After its completion in 2022, Kaos was not only marked Oceanco's biggest build ever but also the largest yacht ever built in the Netherlands - and the largest such vessel to be woman-owned. Designed to accommodate up to 31 guests, Kaos boasts a private owner's deck, a sprawling 135-square-meter main saloon, and an array of amenities. The 1453-square-foot main saloon is a regal space equipped with a large television and royal seating. Luxury amenities include a helipad, 12-seat cinema, Turkish steam bath and gym. Kaos also features an additional crew gym and a small hospital, underscoring its status as a beacon of luxury and innovation on the seas. One of the four-decker ship's main highlights is its massive swimming pool, surrounded by additional seating and is elevated above the superyacht beach club. Inside the opulent beach club sits an aquarium that offers a captivating view into the pool above. The grandiose ship also features an upscale room named The London Bar, complete with smoke machines, DJ booth, and water wall chandelier. Under Nancy's ownership, the vessel has become a striking symbol of progress and empowerment, sharply contrasting its history under Sheikh Khalifa bin Hamad Al Thani. The previous owner reportedly reserved certain spaces — such as men's quarters or meeting rooms for the Emir's entourage — as off-limits to women, embodying a traditional and hierarchical approach to luxury. Meta CEO Mark Zuckerberg's $300 million yacht In 2024, Mark Zuckerberg, 41 - who is worth $242 billion - bought himself a $300 million yacht as a 'birthday present' for himself. His 387-foot-long yacht is thought to have not only its own aircraft hangar but also a support boat, called the Wingman, costing an estimated $30 million. The main vessel, called Launchpad, was constructed at the Feadship shipyard in the Netherlands in 2022, and can accommodate 24 guests as well as 48 crew members. It features include a beach club area, beauty center, cinema and helicopter. The Meta CEO's luxury ship's sleek exterior was designed by Espen Øino International and has a steel hull and an aluminum superstructure, according to SuperYacht Times. It is reportedly the 45th largest yacht in the world, per Page Six. The interiors were reportedly designed by Zuretti Interior Design company, a France-based company specializing in unique and custom yacht design. There are multiple levels for sunbathing and indoor spaces with glass paneling allowing for floods of natural light. NBA star Michael Jordan's $115 million yacht The 244-foot long ship, purchased by Michael in 2022, is said to accommodate 12 guests with 8 cabins and 24 crew, with an estimated annual running cost of $10 million Basketball star Michael Jordan, who is worth an estimated $3.5 billion, owns a yacht called 'M'BRACE' which is valued at a staggering $115 million. The 244-foot long ship, purchased by Michael in 2022, is said to accommodate 12 guests with eight cabins and 24 crew, with an estimated annual running cost of $10 million. The boat, which was first owned by Britain's Sir Lloyd Marshall Dorfman, was built in 2018 by Abeking & Rasmussen. It has a distinctive Atlantic Bow and has its very own pool onboard. Michael, 62, also owns a smaller yacht called Joy which cost $80 million.
