Oracle’s Safra Catz is stepping down as chief executive, with the US software group splitting the role between two top lieutenants, as it accelerates its shift into the infrastructure powering the artificial intelligence boom. The role will be shared by Clay Magouyrk, president of Oracle’s cloud infrastructure business, and Oracle Industries President Mike Sicilia. Ms….

McDonald’s has appointed Das Dasgupta as global chief data analytics and AI officer. An adjunct professor at USC Marshall School of Business, Mr. Dasgupta has also held leadership roles at Amazon and Viacom, and most recently served as Starbucks’ chief data and analytics officer. “In the near term, I’ll focus on building ‘Moneyball’ teams, early…

The Walt Disney Co. is set to pay back tens of thousands of Disneyland employees following a $233m class-action settlement approved by Orange County Superior Court Judge William Claster. The settlement, described as “absolutely historic” by attorney Randy Renick, resolves a seven-year legal battle over the application of Anaheim’s living wage law, which mandates higher…

OpenAI has appointed Mike Liberatore, former finance chief of xAI, to the role of business finance officer for artificial intelligence infrastructure. Reporting to CFO Sarah Friar, he will “focus on supporting the team charged with scaling OpenAI’s access to compute.” Shawn Cole, president of boutique executive search firm Cowen Partners, said: “AI companies are tilting…

U.S. retail sales increased by 0.6% in August compared to July, and by 5% on an annual basis, driven by back-to-school purchases. The Commerce Department’s report indicated that spending rebounded after two months of declines. Excluding auto sales, retail sales rose by 0.7%. Electronics and appliance stores saw a 0.3% increase, while online retailers experienced…

Oil prices increased on Monday following Ukrainian drone attacks on Russian energy facilities, with Brent crude rising by 0.5% to $67.31 a barrel. The attacks, which included a significant strike on the Kirishi oil refinery, indicate Ukraine’s willingness to disrupt Russian oil exports, potentially leading to higher prices, according to analysts. President Donald Trump has…