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Israel-Lebanon Ceasefire Extended Three Weeks; Tech Layoffs Announced; Clothing Spending Up 5.1%
President Trump announced a three-week extension to the Israel-Lebanon ceasefire. Meta and Microsoft revealed workforce reductions amid AI shifts, while clothing spending rose in March with growth in luxury and secondhand markets. Additional developments include NFL draft picks, airline fuel costs, and updates on Michael Jackson's biopic.
Apr 24, 9:34 AM·2m read1 source
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President Donald Trump stated on Thursday that the ceasefire between Israel and Lebanon will be extended another three weeks. Google announced a partnership on Thursday with recycling startup Mill, which makes a $1,000 smart trash bin, to use a dataset on food waste for training the startup’s AI algorithm.
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Each year, according to the USDA. Meta said it would lay off 10% of workers due to AI investments. Microsoft began offering voluntary buyouts to thousands of employees. IBM and ServiceNow both beat Wall Street’s estimates in first quarter earnings. 1% year-over-year in March, according to a Bank of America Institute report released this week.
Most of the growth in clothing spending is focused in luxury fashion and discount apparel. Secondhand fashion transactions in March per household increased nine times faster than spending itself. The U.S. market for secondhand apparel grew four times faster than the primary fashion market in 2025, according to recent research.
Luxury fashion had the biggest gains in the first quarter, according to BofA. LVMH's stock has nosedived 26% this year. LVMH cited the war’s negative impact on its organic growth in earnings reported last week. Tesla is experiencing a shift from its plateauing core electric vehicle business to its AI-related ones.
The surge in jet fuel prices is costing airlines billions, first quarter earnings reports reveal. Michael Jackson’s biopic had an initial $150 million budget. The estate’s executors learned of a clause in a 1994 settlement with one of Michael Jackson’s child molestation accusers agreeing to never dramatize their story on screen.
