BUSINESS

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Video game retailer GameStop has unveiled a $55.5bn (£41bn) takeover approach for eBay, with its chief executive warning the unsolicited proposal could escalate into a hostile pursuit if dismissed by the target's board.

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Amazon Web Services (AWS) and OpenAI announced a significant expansion of their partnership on Tuesday afternoon. The deal allows AWS customers to access OpenAI’s artificial intelligence systems directly through Amazon’s cloud-computing platforms. Unveiled at the “What’s Next for AWS” event, the collaboration provides OpenAI with access to Amazon’s massive user base and dominant infrastructure as the AI firm accelerates its push into the enterprise market.

The move comes as many companies are increasingly looking to agents — AI capable of taking on and executing relatively complex tasks — as a way to boost employee productivity and automate rote chores.

“Enterprises want to build with the most capable AI models and agents available,” AWS said in a statement announcing the partnership. “They also need the security posture, operational maturity, and data governance that production workloads demand. Starting today, we are bringing those together.”

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Premium large format cinema company IMAX has reported a decline in both revenue and profit for the first quarter of 2026, even as it benefited from major blockbuster releases such as Avatar Fire and Ash and Project Hail Mary. The results highlight a complex financial picture where strong box office performances did not fully translate into overall growth.

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Microsoft is introducing an unprecedented voluntary buyout program for U.S.-based employees, marking a notable shift in how the company manages its workforce amid intensifying investment in artificial intelligence.

The initiative is expected to cover roughly 7% of Microsoft's U.S. staff, according to reports citing internal communications. Eligibility is limited to employees at the senior director level and below whose combined age and years of service total at least 70. Further details are scheduled to be shared with workers and managers in early May.

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Uber announced on Wednesday that users will soon be able to book hotels directly through its app. Through a partnership with Expedia Group, the rideshare giant will integrate more than 700,000 hotel listings into its platform. CEO Dara Khosrowshahi stated the move is part of a broader strategy to transform Uber into a comprehensive travel service, remarking that the platform has become an "app for everything.”

While traveling, users will get reminders to schedule Uber rides and see options for Uber Eats “room service” that can deliver food and any forgotten items, such as a toothbrush or phone charger, directly to the hotel.

Uber said the goal of these upgrades is to “reduce the number of steps for travel” for its users.

The update “just makes the app much easier for the user, and they don’t have to go to multiple apps,” Sachin Kansal, Uber’s chief product officer, said.

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Meta has announced it will cut approximately 8,000 jobs—10% of its workforce—next month as it reallocates resources toward artificial intelligence. In a memo released Thursday, the company also confirmed it will leave thousands of currently open positions unfilled. The layoffs follow a massive increase in AI spending, with Meta projected to spend $135 billion on AI projects this year, a figure equal to its total AI investment over the previous three years combined.

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PayPal's chief executive Enrique Lores has begun reshaping the company's internal structure, separating Venmo into its own dedicated business unit, according to people familiar with the matter. The shift marks the first time the peer-to-peer payments platform will operate independently within the company.

The decision is part of a wider reorganization designed to simplify operations and sharpen strategic focus. Under the new structure, PayPal will operate through three core segments: Venmo as a standalone entity, a branded payments division serving

merchants and consumers, and a broader services arm that includes Braintree and cryptocurrency operations.

Executives believe isolating Venmo will provide clearer visibility into its performance while also making it easier to pursue strategic options, including a potential sale. The company is said to be exploring candidates with digital banking experience to lead the newly independent unit.

The overhaul comes at a critical moment. PayPal has struggled to maintain momentum as competition intensifies from major technology and payments firms. Lores, who took over leadership earlier this year after a long tenure at HP, is betting that structural clarity will help revive growth and restore investor confidence.

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SpaceX has announced it holds the rights to acquire the AI coding tool Cursor for $60 billion later this year. The company, led by Elon Musk, is also considering an alternative $10 billion agreement to "work together" with the platform. These moves are part of a broader strategy to compete with AI rivals such as OpenAI and Anthropic as SpaceX prepares for its upcoming debut on Wall Street.