JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

JPMorgan Chase is taking over the Apple Card

Apple announced today JPMorgan Chase will be the new issuer for the Apple Card. The official news arrived shortly after The Wall Street Journal reported that the two businesses had reached a deal regarding Apple's credit card service. According to the tech company, the transition to the new provider should take about two years to complete, but customers can continue to use their Apple Cards as usual during the interim. Apple has already published an FAQ about the change, but the main takeaway is that the status quo is currently continuing and customers will receive information at a later date if any action is required. Mastercard will remain the Apple Card payment network under the new partnership.

Goldman Sachs was Apple's collaborator when it launched the Apple Card in 2019. We've seen signs for a few years, though, that Goldman Sachs had been looking for a way out of its arrangement. Apple didn't disclose many details around either the current or future deals for its credit card, however the WSJ report claims the negotiations with JPMorgan Chase have been underway for more than a year. Sources told the publication that Goldman Sachs is offloading about $20 billion in outstanding customer balances at a discount of more than $1 billion.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/jpmorgan-chase-is-taking-over-the-apple-card-232711979.html?src=rss

Warners Bros. Discovery board urges shareholders to reject amended Paramount bid

In a unanimous written determination, the Warner Bros. Discovery's board is advising shareholders to once again reject Paramount Skydance's "inadequate" hostile takeover bid. The letter to shareholders cites a number of concerns with the offer and reiterates its position that Netflix's offer remains superior. Netflix and WBD have entered into a merger agreement in early December after the WBD board selected its offer over other bidders.

There are two key differences between the two options: Netflix is willing to pay $82 billion, but only for the Warner Bros., HBO and HBO Max divisions; Paramount Skydance's latest offer came in at $108 billion and is for all of WBD's assets, including CNN, HGTV, Food Network and many more. The Netflix deal leaves those assets in the hands of WBD shareholders, to be spun off as Discovery Global.

Paramount Skydance made three separate attempts to scoop up WBD before the company even opened the process up to other bidders. The third of those early offers was reportedly in the neighborhood of $24 per share, while this most recent hostile takeover stands at $30 per share.

But the WBD board has concerns. Among them, the extraordinary amount of debt required for Paramount, a studio with a market capitalization of just $14 billion, to take on an acquisition of this size. (Netflix's market cap is over $400 billion.) This comes despite Larry Ellison, the father of Paramount CEO David Ellison, stepping in to guarantee $40 billion worth of the needed financing. The board also points out that Netflix's offer is partially paid in the streaming giant's shares, which it says have the potential to provide further value in the future.

At this stage in negotiations, the board also claims opting to go with Paramount Skydance's offer would also result in WBD paying over $4 billion in termination fees.

"Your Board negotiated a merger with Netflix that maximizes value while mitigating downside risks, and we unanimously believe the Netflix merger is in your best interest," the letter states. The merger with Netflix will still have to go before regulatory bodies in the United States and Europe.

This article originally appeared on Engadget at https://www.engadget.com/entertainment/streaming/warners-bros-discovery-board-urges-shareholders-to-reject-amended-paramount-bid-141513357.html?src=rss

Meta buys startup known for its AI task automation agents

Meta has acquired an AI startup called Manus — known for its custom research and website-building agents — in a deal valued at more than $2 billion, according toThe Wall Street Journal. It's reportedly one of the largest acquisitions yet involving a startup nurtured in China's AI ecosystem. 

Manus arrived in March 2025, shortly after another Chinese AI startup, DeepSeek appeared on the scene. The company (called Butterfly Effect at the time) originally described it as "the first general AI agent" to perform complex tasks autonomously, rather than just generating ideas. It draws from several third-party models, particularly Anthropic's Claude 3.5 Sonnet and versions of Alibaba's Qwen. 

Manus is designed to automate certain tasks, like market research, coding, sales data analysis and website cloning and creation. (However, one skeptic called it "a product devilishly optimized for influencers, which is why it exploded so much.") The company claims that Manu is "already serving the daily needs of millions of users and businesses" and has an annualized average revenue of more than $100 million only eight months after launch. 

Manus laid off most of its Beijing employees this summer before moving its headquarters to Singapore in an effort to expand globally.The company was reportedly seeking a funding round that would have valued it at $2 billion when it was approached by Meta. "Joining Meta allows us to build on a stronger, more sustainable foundation without changing how Manus works or how decisions are made," said Manus CEO Xiao Hong in a company news release.

This article originally appeared on Engadget at https://www.engadget.com/ai/meta-buys-startup-known-for-its-ai-task-automation-agents-140045275.html?src=rss