British lawmakers have passed a new internet safety law aimed at holding digital and social media companies accountable. The law requires platforms like TikTok, Google, Facebook, and Instagram to remove illegal content, protect children from harmful material, and give users more control over their online experience. Failure to comply could result in hefty fines and potential criminal charges for senior managers. However, critics argue that the law threatens online privacy and freedom of speech, and raises concerns about potential backdoors for encryption technology. The legislation is part of broader international efforts to regulate the tech industry.

Amazon’s hardware division, Lab126, responsible for devices like the Kindle and Echo, is reportedly facing challenges that have led to lowered morale. Mass layoffs, key executive departures, and a pipeline of underwhelming devices in development have all contributed to the division’s struggles. Anonymous current and former employees revealed that Lab126 has been working on various new devices, including a carbon monoxide detector, a household energy consumption monitor, a home projector, a digital measuring device, and a virus-testing device. However, many of these devices have faced financial or market concerns and some projects have been canceled.

Amazon hopes to revitalize interest in its Alexa voice assistant, which faces competition from AI chatbots like Google and Microsoft-backed OpenAI’s ChatGPT. The company has plans to unveil refreshed versions of existing products at an upcoming launch event but has not disclosed its full agenda. Overall, Lab126’s losses and shifting strategies have contributed to a decline in morale, with employees highlighting poorly selling devices and a lack of consistent profitability for Alexa. The division’s leader, Dave Limp, plans to step down later this year, and his successor is expected to be Panos Panay from Microsoft.

Fast-food workers in California are set to receive pay increases following a compromise between the restaurant industry and unions. Under the deal, a nine-person council will determine future wage hikes in the fast-food industry through 2029. Starting April 1, California workers at fast-food chains with at least 60 locations nationwide will have a wage floor of $20. The council will have the authority to annually raise the minimum wage by 3.5% or the consumer price index change from 2025 to 2029. The agreement resolves a battle that had the potential to escalate for years and cost the restaurant industry over $100 million. The compromise protects local restaurant owners and avoids joint-employer liability changes for franchised businesses.

Hollywood studios are facing challenges in making streaming profitable as the industry undergoes significant changes. The rise of streaming platforms like Netflix has disrupted the traditional economics of the media industry, and legacy media companies are struggling to compete. While streaming remains a focus as consumers increasingly opt for it, the high costs and low revenues per subscriber are catching up with studios. This has led to job cuts, content budget reductions, and the exploration of various business models to piece together profits. The lack of transparency in streaming viewership data has also created contention in contract negotiations with writers and actors. To make streaming profitable, studios are subsidizing the subscription model with advertising, licensing content to other platforms, cracking down on password sharing, and adopting hybrid models that combine subscription fees and ads.

Oregon-based company Agility Robotics is set to open its RoboFab factory, the first of its kind, to mass produce its first line of humanoid robots named Digit. The facility, once fully built out, will have a 10,000 unit annual max capacity and employ over 500 people. The robots are designed to work alongside humans in warehouses and factories and have the ability to traverse stairs, maneuver tight spaces, and assist with material transportation. While some may be concerned about potential job displacement, Agility Robotics views Digit as a solution to labor shortages and an opportunity to meet increasing demand.

Leading banks, including Goldman Sachs, Morgan Stanley, JPMorgan Chase, Citigroup, Wells Fargo, Charles Schwab, UBS Group, and Lazard, have announced job cuts as part of their cost-cutting efforts amid an uncertain economic outlook. While some banks have already implemented layoffs, others are preparing for future reductions in order to streamline operations and improve efficiency. The affected positions range from support staff in compliance and risk management to underperforming employees. These job cuts reflect the banks’ strategies to position themselves for a challenging economic climate.

Firefly Aerospace achieved a groundbreaking feat by successfully launching a satellite for the U.S. Space Force with just 24 hours of notice. The mission, named Victus Nox, demonstrated Firefly’s exceptional ability to rapidly launch national security missions. Within the given timeframe, the company completed all necessary preparations, updated flight software trajectory, and integrated the Millennium Space Systems-built payload onto the Firefly Alpha rocket. This remarkable accomplishment surpasses the previous record set by Northrop Grumman at 21 days, highlighting Firefly’s effectiveness in responsive space launches.

Spirit Airlines has announced a partnership with Liberty University to address the shortage of pilots in the aviation industry. Liberty University’s School of Aeronautics in Virginia will allow students pursuing aviation degrees to apply for Spirit’s pipeline program after completing their sophomore year. The program offers conditional job offers to students as they finish their studies and accumulate flight hours, with the goal of becoming first officers. This collaboration is part of Spirit Airlines’ efforts, along with other carriers like JetBlue and United Airlines, to increase the supply of new pilots in response to retirements and buyouts during the pandemic as well as U.S. regulations on flight training hours.

European regulators have fined popular short video-sharing app TikTok $368 million for failing to protect children’s privacy, marking the first time the platform has been penalized for breaching Europe’s data privacy rules. The investigation found that TikTok’s sign-up process for teen users made their accounts public by default, posing risks to both teens and children under 13. TikTok disagrees with the decision and claims to have made significant changes to address these issues before the investigation. The Irish regulator is also conducting a separate investigation into TikTok’s compliance with EU data protection regulations.