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Pinterest fires engineers after tool exposed laid-off staff during AI job cuts

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Pinterest fires engineers after tool exposed laid-off staff during AI job cuts

Pinterest has dismissed two engineers after they created and shared a software tool that identified colleagues who had been made redundant during a recent round of job cuts, according to reports.

The digital pinboard company announced earlier this month that it would cut about 15 per cent of its workforce, roughly 700 roles, as chief executive Bill Ready said the business was “doubling down on an AI-forward approach”. Pinterest did not disclose which teams would be affected by the reductions.

Following the announcement, two engineers wrote custom scripts that accessed internal systems to flag when employee accounts were deactivated, effectively revealing the names and locations of staff who had lost their jobs. The information was then shared more widely, prompting the company to take disciplinary action.

A Pinterest spokesperson said the engineers had “improperly accessed confidential company information” and described the actions as a clear breach of company policy and a violation of affected employees’ privacy. It remains unclear whether the data was shared solely with colleagues inside the business or beyond the company.

The scripts targeted internal communication and access tools, according to the BBC, citing a source familiar with the incident. The code reportedly triggered alerts when employee names were removed from internal systems.

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Pinterest has been ramping up investment in artificial intelligence to improve personalisation for users and automate tools for advertisers. However, investor confidence has been shaken, with shares down more than 20 per cent this year as markets weigh the competitive threat posed by newer and more advanced AI platforms.

Ready told staff in an internal meeting that while debate and dissent were healthy, employees who fundamentally disagreed with the company’s direction should consider their future elsewhere, according to CNBC, which first reported the firings.

The incident comes amid a broader wave of job losses across the tech sector as companies restructure around AI. Last week, Amazon announced a further 16,000 redundancies worldwide, while Meta said it would cut more than 1,000 roles from its Reality Labs division. Design software maker Autodesk has also confirmed plans to shed around 1,000 jobs this month.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Kommunalbanken Norway completes $1.5 billion fixed-rate notes offering

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Kommunalbanken Norway completes $1.5 billion fixed-rate notes offering

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First Eagle Global Equity ETF Q4 2025 Portfolio Review

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First Eagle Global Equity ETF Q4 2025 Portfolio Review

First Eagle is an independent investment management firm that manages approximately $149* billion in assets (as of 09/30/24) on behalf of institutional and individual clients. With the core purpose of providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong focus on downside mitigation. First Eagle’s investment capabilities include equity, fixed income and multi-asset strategies. With a heritage dating back to 1864, First Eagle has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers. Note: This account is not managed or monitored by First Eagle, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use First Eagle’s official channels.

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‘Angel Meloni’ Scrubbed from Rome Church Painting on Priest’s Orders After Political Uproar

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Giorgia Meloni

Rome — A restored angel fresco bearing a striking resemblance to Italian Prime Minister Giorgia Meloni was painted over and effectively “scrubbed” from a historic church wall on the orders of the parish priest, following days of political controversy, clerical dismay and public curiosity that drew crowds to the Basilica of St. Lawrence in Lucina.

The alteration occurred overnight into Wednesday, Feb. 4, 2026, leaving the cherub headless as the Meloni-like face was covered with a rough layer of paint or plaster. Parish priest Monsignor Daniele Micheletti confirmed the decision, telling ANSA news agency he had long warned that the image would be removed if it proved divisive.

“I always said that if (the Meloni image) proved divisive we would remove it,” Micheletti said. He emphasized that the church sought to avoid any perception of political endorsement, adding that the parish did not wish to be seen as aligned with any party or figure.

The fresco, part of a chapel restoration completed in December 2025 after water damage from 2023 infiltrations, originally depicted two angels flanking a marble bust of Italy’s last king, Umberto II. One angel — a generic cherub in the 2000 original by artist Bruno Valentinetti — was updated during voluntary touch-up work to feature facial features many observers said mirrored Meloni’s: her distinctive hairstyle, jawline and expression.

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Side-by-side photos published by La Repubblica on Jan. 31 sparked immediate online buzz and media coverage, with social media users dubbing it “Angel Meloni.” The resemblance prompted investigations by Italy’s Culture Ministry and the Diocese of Rome, which expressed “disappointment” and pledged to determine responsibility.

(Watch Video Here)

Valentinetti, who volunteered for the restoration, denied any intentional likeness. He told media he simply refreshed the original 2000 design he created, insisting no political motive existed. “I copied what was there,” he said, noting the work lacked heritage protection as a modern addition.

Micheletti initially downplayed the fuss, invoking artistic tradition: “Painters used to put all sorts of things in frescoes; even Caravaggio painted the face of a prostitute.” He told La Repubblica he hadn’t noticed the similarity until it made headlines, and expressed frustration at the media storm thrust upon the parish.

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The controversy blended sacred art, politics and public satire. Meloni, Italy’s first female prime minister and leader of the right-wing Brothers of Italy party, responded lightheartedly on social media: “No, I definitely don’t look like an angel,” she posted with a laughing emoji alongside a comparison photo.

Yet the episode highlighted sensitivities around church neutrality amid Meloni’s conservative government and close ties to traditional Catholic values. Critics questioned whether the resemblance constituted subtle flattery or mockery, while supporters saw it as harmless artistic whimsy.

By Feb. 4, crowds had gathered at the basilica — near government offices and major tourist sites like the Spanish Steps — to view the “Meloni angel” before its alteration. When doors opened Wednesday, visitors found the face erased, the angel’s body intact but decapitated in appearance.

The diocese’s intervention, relayed through technicians, urged the change to prevent further division. Some reports suggested the Vatican or diocesan authorities directly requested the modification, though Micheletti framed it as his own decision to preserve harmony.

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The Culture Ministry’s probe focused on whether the restorer exceeded authorized scope, as modifications were not pre-approved. No heritage violation was apparent, given the painting’s modern origin, but officials inspected the site to assess compliance.

The basilica, one of Rome’s oldest with roots to the 4th century, houses chapels dedicated to souls in purgatory and royal memorials. The affected artwork adorned a side chapel, not a protected ancient fresco.

Reactions varied. Some Italians mocked the overreaction, joking online about “canonizing” Meloni or comparing it to historical cases where rulers appeared in religious art. Others criticized it as inappropriate politicization of sacred space.

Human rights and secular groups used the moment to question church-state boundaries under Meloni’s administration, while conservative commentators defended artistic freedom.

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The quick resolution — from discovery to erasure in days — underscored Rome’s blend of tradition, politics and rapid response to controversy. The headless angel now stands as a symbol of the episode: a brief flash of modern satire swiftly neutralized to maintain decorum.

Valentinetti expressed no regret over the original work but complied with the request to cover it. Micheletti reiterated the parish’s apolitical stance, hoping the matter would fade.

As Rome’s faithful and tourists move on, the “Angel Meloni” saga remains a quirky footnote in the eternal city’s long history of art, power and piety — one that briefly turned a cherub into headline news.

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First Graphene expands international footprint

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First Graphene expands international footprint

First Graphene boss Mike Bell says the junior has a great opportunity to grow global revenue and growth across new and emerging markets, on the back of a key announcement.

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Olive Garden parent to close all Bahama Breeze restaurants

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Olive Garden parent to close all Bahama Breeze restaurants

Darden Restaurants announced on Tuesday that it will close its Bahama Breeze chain after nearly 30 years in operation.

The Orlando-based company said it will permanently shut down 14 of Bahama Breeze’s 28 restaurants, while converting the remaining locations into other Darden brands.

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Restaurants designated for permanent closure will continue operating through April 5, Darden said.

RESTAURANT GIANT FILES FOR BANKRUPTCY UNDER MASSIVE DEBT SHORTLY AFTER TOUTING MAJOR EXPANSION

Signage is displayed outside of a Darden Restaurants Inc. Bahama Breeze Island Grille location in Schaumburg, Illinois, U.S., on Thursday, June 22, 2017. Darden Restaurants Inc. is scheduled to reporter earnings figures on June 27. Photographer: Daniel Acker/Bloomberg via Getty Images

Sign in front of a Darden Restaurants Inc. Bahama Breeze Island Grille in Schaumburg, Illinois, on June 22, 2017. (Daniel Acker/Bloomberg via Getty Images)

The conversion of the remaining 14 locations is expected to take 12 to 18 months. Those restaurants will continue operating until any temporary closures are required during the conversion process, the company said.

A vehicle sits parked outside of a Darden Restaurants Inc. Bahama Breeze Island Grille location in Schaumburg, Illinois, U.S., on Thursday, June 22, 2017. Darden Restaurants Inc. is scheduled to reporter earnings figures on June 27. Photographer: Daniel Acker/Bloomberg via Getty Images

A vehicle sits parked outside a Bahama Breeze restaurant in Schaumburg, Illinois, on June 22, 2017. (Daniel Acker/Bloomberg via Getty Images)

Darden did not specify which brands the Bahama Breeze locations will be converted into. The company’s portfolio includes chains such as Olive Garden, Yard House, Ruth’s Chris Steak House and Eddie V’s, among others.

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THIS RESTAURANT IS THE BEST PLACE TO EAT IN THE US, ACCORDING TO YELP

“The company believes the conversion locations are great sites that will benefit several of the brands in its portfolio,” Darden said in a press release. “Going forward, the primary focus will continue to be on supporting team members, including placing as many as possible in roles within the Darden portfolio.”

Signage is displayed at a Darden Restaurants Inc. Bahama Breeze Island Grille location in Schaumburg, Illinois, U.S., on Thursday, June 22, 2017. Darden Restaurants Inc. is scheduled to reporter earnings figures on June 27. Photographer: Daniel Acker/Bloomberg via Getty Images

Most of the locations that will be converted into other brands are in Florida. (Daniel Acker/Bloomberg via Getty Images)

The Bahama Breeze locations slated for permanent closure are in Delaware, Georgia, Michigan, New Jersey, North Carolina, Pennsylvania, Virginia and Washington, Darden said.

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Most of the locations that will be converted into other brands are in Florida, with additional restaurants in Georgia, North Carolina, South Carolina and Virginia.

Shares of Darden Restaurants are up more than 14% year to date.

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Power giant Drax to make 350 redundancies amid UK and US restructuring

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Business Live

The firm says it is ‘focused on driving growth in our flexible generation business’

Drax power station near Selby, North Yorkshire. Drax is aiming to become "carbon negative" by 2030

Drax power station near Selby, North Yorkshire.(Image: PA)

Power company Drax has announced a major restructuring which will lead to 350 redundancies as part of plans to build “a strong, resilient business for the future”. The FTSE 250 firm operates the country’s largest power station in North Yorkshire, which generates around 5% of the UK’s electricity predominantly from sustainable biomass.

At the end of last year it made two significant announcements, including its plans to establish a data centre at its Yorkshire site, highlighting how it plans to repurpose existing infrastructure at the power station, based between Selby and Goole, to develop a data centre. A centre could be operational as early as 2027, and it indicated it plans to allocate up to £2bn for incremental investment, primarily in flexible and renewable energy.

A month earlier it struck a £157.2m deal to acquire three battery energy storage system (BESS) projects. The sites are based in Marfleet in Hull, Neilston in East Renfrewshire, Scotland, and East Kilbride in Lanarkshire, Scotland.

Now, the firm said it is “focused on driving growth in our flexible generation business”, resulting in the restructure. The company says 350 redundancies are set to be made, and it has now started a consultation process with affected staff, in Yorkshire and North America.

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Drax Group has acquired three ready-to-build battery storage system projects from Apatura.

Drax Group has acquired three ready-to-build battery storage system projects from Apatura.(Image: Apatura)

The biomass power station operators said: “As the global business and energy landscape continues to develop, we’re evolving our strategy to ensure we’re building a strong, resilient business for the future. The recent signing of the low-carbon dispatchable CfD agreement is recognition of the important role that Drax Power Station will continue to play for UK energy security into the 2030s.

“Moving forwards, we’re focused on driving growth in our flexible generation business, creating new options and opportunities at Drax Power Station beyond 2031, and advancing future uses of sustainable biomass. To help realise these opportunities, we’re adapting our organisational structure.

“As a part of that process, we are commencing a consultation process in the UK, and will be briefing colleagues in North America on changes that could result in a reduction of more than 350 roles across the Drax Group. We believe these changes are key to our long-term success and our continued commitment to deliver UK energy security and to support the energy transition.

“This is in no way a reflection of the professionalism, passion and commitment that our colleagues have shown. We will support our colleagues as we develop these proposals and work closely with our unions and elected employee representatives as we implement them.”

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Union representatives from GMB accused Drax of betraying its employees. Deanne Ferguson, GMB senior organiser, said: “You can’t build a low-carbon future by making skilled energy workers redundant.

“Drax has had huge public subsidies – yet has betrayed the workforce and the communities that have supported it. A just transition means secure jobs, proper planning and workers at the heart of change. Ministers need to step in and make sure the reality matches their rhetoric. GMB will fight for nothing less.”

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Australian shares reverse early dip as miners soar

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Australian shares reverse early dip as miners soar

Australia’s share market has shrugged off a morning slump to charge higher by the close, buoyed by strength in large cap miners, banks and energy stocks.

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Wegovy maker warns of 'painful' price cuts as shares plunge

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Wegovy maker warns of 'painful' price cuts as shares plunge

Novo Nordisk is facing “unprecedented” price pressures, “intensifying competition” and patents expiring.

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Suncor Energy Inc. 2025 Q4 – Results – Earnings Call Presentation (TSX:SU:CA) 2026-02-04

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-02-03 Earnings Summary

EPS of $1.10 beats by $0.07

 | Revenue of $12.30B (-1.66% Y/Y) misses by $42.98M

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Here’s the breakdown of U.S. borrowers

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Here's the breakdown of U.S. borrowers

An aerial view of homes in San Francisco, Aug. 27, 2025.

Justin Sullivan | Getty Images

The share of U.S. homeowners with high rates on their mortgages has jumped sharply in just the last few years.

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That’s having a marked impact on the refinance market and a somewhat more muted impact on home sales. Rates have been front and center in the debate over how to improve home affordability — and for good reason.

In 2022, after mortgage interest rates hit more than a dozen record lows, sparking a refinance bonanza, barely 10% of homeowners had 30-year fixed mortgages with rates above 5%. Just four years later, that share has jumped to over 30%, according to ICE Mortgage Technology. About 20% of borrowers have mortgages with a rate over 6%.

Home sales have been less than robust over the last few years, with the National Association of Realtors reporting a historically low 4.06 million sales last year, basically unchanged from 2024. This, after hitting a 15-year high of 6.12 million home sales in 2022.

More recent sales, combined with some cash-out refinancing, pushed the share of higher-interest-rate borrowers up.

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There has been a major focus by the Trump administration to lower mortgage rates as a way to boost home affordability.

The president recently announced a plan for Fannie Mae and Freddie Mac to buy more than $200 billion in mortgage-backed bonds. It is still a subject of debate as to how much lower that would push mortgage rates once the purchase is made, but just the announcement alone caused rates to drop a bit.

Industry experts say the actual purchases could shave perhaps about an eighth of a percentage point off the current 30-year rate, putting it right around 6%. Last year at this time, the average rate on the 30-year fixed mortgage was just over 7%, according to Mortgage News Daily.  

If the average on the 30-year fixed moved to 6%, 5.5 million current homeowners would be able to benefit from a refinance, according to ICE Mortgage Technology. Those homeowners could save at least 75 basis points on their rate, which makes the fees involved financially worthwhile, it said.

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If rates dropped to 5.88%, that number grows to 6.5 million homeowners.

“The most popular interest rate that’s been used to buy a home over the last 3.5 years is between 6.875% and 6.99%, right? Nobody wanted to tell their neighbors they used a 7% interest rate to buy a home, so everybody bought down into this high 6% range,” said Andy Walden, ICE Mortgage Technology’s head of mortgage and housing market research.

“Coincidentally, those 15-basis-point-spread moves from this $200 billion in MBS purchase is moving rates from what would have been six and a quarter right now down to six and an eighth. And so it’s providing meaningfully more refinance incentive than would otherwise be out there, and it’s having an oversized impact on the market,” he said.

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Applications to refinance a home loan are now about 120% higher than they were one year ago, according to the Mortgage Bankers Association.

As for home sales, the last four years were characterized by the so-called rate “lock-in” effect, meaning potential sellers didn’t want to give up their historically low rates. They therefore put off moves that they might otherwise have wanted to make.

Entering 2025, there were roughly 39 million homeowners with an interest rate below 5% and roughly 12 million with an interest rate below 3%, according to Walden.

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“If you look at how those borrowers behaved last year, only about 6% of those folks gave up those low rates, either through a refinance to pull equity out of their home or through the sale of their home. Close to 95% of homeowners held on to those rates tight,” he said.

As for prospective homebuyers, a 15-basis-point drop on the 30-year fixed rate would save only about $35 a month on the mortgage payment for the average-priced home. Alternately, they could keep the rate and buy 1.5% more home.

“Certainly a move in the right direction, but not a massive movement for those homebuyers,” said Walden.

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