Business
GM to record $7.1 billion in fourth-quarter charges due to EV pullback, China restructuring
GM Hummer EV production in Detroit.
Photo by Jeffrey Sauger for General Motors
DETROIT – General Motors said Thursday it will record $7.1 billion in special charges for the fourth quarter of last year related to its pullback in electric vehicles and restructuring efforts in China.
The Detroit automaker said in a public filing that the charges include roughly $6 billion related to changes to its EV plans amid weakening demand and $1.1 billion, including $500 million in cash, largely related to its previously announced overhaul of a Chinese joint venture.
The charges will impact GM’s net income but not adjusted results. The announcement was broadly anticipated after the Detroit automaker in October said it was reevaluating its EV plans and would initially take a $1.6 billion charge during the third quarter as a result.
GM’s new writedowns come after crosstown rival Ford Motor said in December it expected to record about $19.5 billion in special charges related to a restructuring of its business priorities and a pullback in all-electric vehicle investments.
“We continue to believe that there is a strong future for electric vehicles, and we’ve got a great portfolio to be competitive, but we do have some structural changes that we need to do to make sure that we lower the cost of producing those vehicles,” GM CFO Paul Jacobson told CNBC in October.
Automakers commonly exclude “special items” or one-time charges from their adjusted financial results to provide investors with a clearer picture of their core, ongoing business operations.
GM said the fourth-quarter EV impairments include non-cash charges of approximately $1.8 billion. The remaining $4.2 billion is related to supplier commercial settlements, contract cancellation fees and other charges, which will have a cash impact when paid.
Additional EV charges are expected to hit this year but at a lower amount than 2025’s impairments, GM said in the filing Thursday: “We expect to recognize additional material cash and non-cash charges in 2026 related to continued commercial negotiations with our supply base, which we believe will be significantly less than the EV-related charges incurred in 2025.”
The automaker also said it may incur additional charges related to its emissions credits due to proposed regulatory changes to the greenhouse gas emission standards by the Trump administration.
GM was among the first automakers to invest billions of dollars in an EV market that ultimately didn’t materialize. At one point, the company was planning to invest $30 billion in EVs, including dozens of new models and capacity for battery production.
The U.S. EV segment overall has experienced a sales slump after the Trump administration in September put an early end to a $7,500 federal tax credit previously available for EV buyers.
Shares of GM closed Thursday at $85.13, up almost 4% on the day. The stock had a banner year in 2025, gaining more than 50% to lead all major publicly traded automakers.
GM is set to report its fourth-quarter results on Jan. 27.
Business
Finance ministers and top bankers raise serious concerns about Mythos AI model
Experts say Mythos potentially has an unprecedented ability to identify and exploit cybersecurity weaknesses.
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Business
Anthropic’s new AI model exposes fresh risks, flaws for cybersecurity, IT services – The Times of India
New Delhi: A powerful new AI model is forcing govts, banks, and technology firms to rethink the rules of cybersecurity – and in India, the stakes may be even higher.Claude Mythos, developed by Anthropic, has demonstrated the ability to autonomously detect and exploit software vulnerabilities, including flaws that have persisted for decades. Early tests revealed that the model could identify long-standing weaknesses and simulate complex, multi-step cyberattacks, prompting the company to restrict its wider release. Anthropic CEO Dario Amodei highlighted the shift, noting that AI systems are now capable of finding vulnerabilities “that humans have missed”, a signal of how quickly the cybersecurity landscape is changing.US Treasury Secretary Scott Bessent reportedly convened a meeting with top bank executives – including leaders from JPMorgan Chase, Goldman Sachs, Citigroup, BoA, and Morgan Stanley – to assess the risks posed by such advanced AI systems.That concern is not theoretical. According to Jaydeep Singh, GM for India at Kaspersky, the emergence of such systems represents a turning point not just for security professionals, but for everyday users. “We have been closely monitoring how AI is reshaping the threat landscape, and Claude Mythos represents a moment that every user, not just the cybersecurity industry, needs to understand,” Singh said.The dual-use nature of AI is at the heart of the concern. The same capability that strengthens defences can just as easily be weaponised. “The same capability that finds a 27-year-old vulnerability in hardened infrastructure is the capability that, in the wrong hands, turns every unpatched system into an open door,” Singh added.Cybersecurity firm Check Point Software Technologies echoed the warning. Sundar Balasubramanian, MD, India and South Asia, for Check Point, says, AI is “dramatically lowering the barrier to entry for cyber attackers,” enabling even less-skilled actors to identify and exploit vulnerabilities. He added that defensive tools can be repurposed offensively, compressing the traditional gap between attackers and defenders. Jayant Saran, partner, Deloitte India, described this as a “changed reality,” where organisations must prepare for risks that were previously invisible. He called AI a “double-edged sword…that cannot be reversed,” highlighting an accelerating race between those securing systems and those attempting to break them.In India, the risks are amplified by scale. From UPI to banking and govt platforms, millions depend on digital infrastructure – much of it built on legacy systems. These systems are often slower to patch, harder to monitor, and lack continuous threat intelligence, creating what Saran called an “asymmetric risk exposure.” Singh pointed out that this gap is especially critical in India, where legacy infrastructure serves hundreds of millions.Beyond cybersecurity, ripple effects could reach financial markets. Analysts say models like Mythos could automate parts of software development, testing, and security – core functions of IT services industry. While disruption may be gradual, labour-intensive outsourcing models could face pressure, while firms embracing AI may benefit.
Business
Could a digital twin make you into a ‘superworker’?
Firms say digital twins make staff more productive, but are they a potential legal minefield?
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