Bosses warn of job losses to AI
The bosses of some of the nation's biggest companies are warning their human workforce will shrink as a result of advances in artificial intelligence.
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News.com.au
4 hours ago
- News.com.au
Buss family sells LA Lakers for $10 billion after acquiring team for $67 million
The NBA's Los Angeles Lakers are changing hands — for a sky-high price tag. The Buss family is entering an agreement to sell its majority stake in the Lakers for approximately $10 billion to businessman Mark Walter, ESPN's Shams Charania reported Wednesday. It marks the largest sale ever of a US pro sports franchise. Walter, who is also the primary owner of Major League Baseball's LA Dodgers, is the CEO of TWG Global, a multinational conglomerate holding company. Walter also has interests in several other professional sports teams and enterprises — including the Los Angeles Sparks, Chelsea FC, the Billie Jean King Cup, the Cadillac Formula 1 team and the Professional Women's Hockey League. Jeanie Buss will remain in her position as the franchise's governor after the sale, Charania noted. The Buss family has seen the value of the Lakers skyrocket since Jerry Buss acquired the franchise for $67.5 million in 1979, and now gets to reap the benefits of that purchase 46 years later. When Jerry died in 2013, his ownership stake in the franchise transferred to his six children, with Jeanie assuming the role as the team's governor. The deal comes after two other highly valued NBA franchises recently sold: the Mavericks and Celtics. Longtime owner Mark Cuban sold his majority stake in the Mavs in late 2023 to the Adelson family for $3.5 billion, though he retained approximately 27 per cent in the team. In March 2025, Wyc Grousbeck sold his controlling stake in the Celtics to William Chisholm for $6.1 billion. Walter has been one of the most willing spenders in MLB with the Dodgers, who have the second-highest payroll in baseball at $321.3 million. Lakers legend and former part-owner Magic Johnson chimed in, posting on X: 'Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the @Lakers legacy and tradition of winning. 'Mark Walter, my business partner and friend! Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he's been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!'
Daily Telegraph
7 hours ago
- Daily Telegraph
Elon Musk's SpaceX rocket explodes during test in Texas
Don't miss out on the headlines from Technology. Followed categories will be added to My News. One of Elon Musk's SpaceX rockets has exploded into flames during a routine static fire test. Terrifying scenes were captured in a live stream of the Starship 36 rocket's test in Texas at about 11pm Wednesday night (local time). The starship was seen bursting into a massive ball of angry red flames at Massey's Testing Center, shocking commentators watching the livestream. 'Woah! No!' one is heard saying in the video above. 'Oh … my god,' another is heard saying as a mushroom cloud rises into the night sky. 'Ship 36 just blew up.' Locals experienced a loud rumble that shook windows and rattled dishes, news site Valley Central reported. One of Elon Musk's SpaceX rockets has exploded into flames. Picture: X/BNONews SpaceX addressed the explosion in a statement posted to X. 'At approximately 11pm. CT, the Starship preparing for the tenth flight test experienced a major anomaly while on a test stand at Starbase,' the company said. No personnel were injured in the explosion, it added, because a safety area meant everyone was moved away from the zone prior to the test. 'Our Starbase team is actively working to safe the test site and the immediate surrounding area in conjunction with local officials,' the statement read. The Starship 36 rocket exploded during a routine test. Picture: X/BNONews The company said there was no risk to locals and asked for people to stay away from the area. 'We ask that individuals do not attempt to approach the area while safing operations continue,' it said. The explosion unfolded during the rocket's second static fire test, which serves as a measure to replicate launch conditions and test the engine reliability. It's expected that Starship's anticipated tenth test flight will be pushed back because of the explosion. Originally published as Dramatic scenes as Elon Musk's rocket explodes during test
ABC News
8 hours ago
- ABC News
Bosses warn of job losses to AI
The bosses of some of the nation's biggest companies are warning their human workforce will shrink as a result of advances in artificial intelligence.
