Wall Street heads lower in premarket trading as tech stocks appear poised for more losses

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By YURI KAGEYAMA and MATT OTT, AP Business Writers

Wall Street pointed toward more losses before the opening bell Tuesday, kicking off a holiday-shortened week of trading that will bring more earnings reports and some highly-anticipated economic releases.

Futures for the S&P 500 were down 0.5% in premarket trading, while futures for the Dow Jones Industrial Average edged 0.3% lower. Futures for the technology-heavy Nasdaq tumbled 0.9%

Tech stocks have been waxing and waning with fluctuations in confidence over massive investments in AI, which appears to have carried over into this holiday-shortened trading week. All of Big Tech’s “Magnificent Seven” companies — Apple, Microsoft, Nvidia, Amazon, Tesla, Google parent Alphabet and Facebook parent Meta Platforms — were down in premarket trading Tuesday.

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U.S. markets were closed for Presidents Day on Monday.

Warner Bros. Discover shares jumped 2.5% after Netflix granted it a seven-day waiver that allows the studio to reopen takeover talks with Paramount Skydance. Previously, Warner’s leadership consistently has backed the offer from Netflix. Paramount Skydance shares rose 3.9% and Netflix was up 1%.

General Mills shares tumbled 3.4% after the packaged food giant trimmed what was already seen as a tepid forecast for 2026. The company said it expects a wider drop in organic net sales than previously forecast, resulting in a bigger decline in per-share profit.

Coming later this week is the government’s latest inflation report and the first estimate of how the broader U.S. economy performed in the fourth quarter.

Elsewhere, European shares were mixed after a quiet day in Asia, where most markets were closed for Lunar New Year holidays.

France’s CAC 40 ticked down 0.1% in midday trading, while Germany’s DAX was flat and Britain’s FTSE 100 picked up 0.2%.

Weak economic data for Japan appeared to be clouding sentiment in Tokyo, and a 5.1% decline for tech giant SoftBank Group also pulled shares lower. The decline follows a big rally after a resounding win for Prime Minister Sanae Takaichi’s ruling party in a Feb. 8 general election.

The Nikkei 225 slipped 0.4% to finish at 56,566.49.

Traders likely were locking in profits from the recent gains that took the Nikkei to record levels. Polls show Takaichi’s popularity is slowly slipping, as hopes for economic revival from her plans to increase government spending and cut taxes subside.

In Australia, the S&P/ASX 200 gained 0.2% to 8,958.90, while India’s Sensex edged 0.2% higher. In Thailand, the SET added 1.4%.

In energy trading early Tuesday, benchmark U.S. crude rose 70 cents to $63.59 a barrel. Brent crude, the international standard, lost 16 cents to $68.49 a barrel.

The U.S. dollar slipped to 153.08 Japanese yen from 153.51 yen. The euro cost $1.1829 down from $1.1852.

The price of gold fell nearly 2% to $4,951 an ounce and silver was down 4.5%. to $74.51.

Bitcoin fell 1.4% to just under $68,000.

Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama

Warner Bros reopens takeover talks with Paramount after receiving a waiver from Netflix

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By MICHELLE CHAPMAN, AP Business Writer

NEW YORK (AP) — Warner Bros. will reopen takeover talks with Paramount Skydance after receiving a seven-day waiver to do so from its preferred bidder, Netflix.

Warner Bros. said in a regulatory filing Tuesday that the waiver will allow it to discuss unresolved “deficiencies” in Paramount’s previous offers.

Warner Bros. Discovery now has until Monday to negotiate a possible transaction with Paramount Skydance.

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“While we are confident that our transaction provides superior value and certainty, we recognize the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY’s antics,” Netflix said in a statement. “Accordingly, we granted WBD a narrow seven-day waiver of certain obligations under our merger agreement to allow them to engage with PSKY to fully and finally resolve this matter.”

Warner Bros. said Tuesday that its board still recommends unanimously that shareholders vote for the Netflix buyout.

Warner’s leadership consistently has backed the offer from Netflix. In December, Netflix agreed to buy Warner’s studio and streaming business for $72 billion — now in an all-cash transaction that the companies have said will speed up the path to a shareholder vote by April. Including debt, the enterprise value of the deal is about $83 billion, or $27.75 per share.

Unlike Netflix, Paramount wants to acquire Warner’s entire company — including networks like CNN and Discovery — and went straight to shareholders with all cash, $77.9 billion offer in December.

Warner Bros. has a special meeting scheduled for Friday, March 20. The company’s stock rose more than 2% before the market open on Tuesday.

Shares of Paramount Skydance climbed nearly 3%, while Netflix’s stock rose slightly.

At Queens Job Training Program, Immigrant Workers Learn to Navigate Life in NYC

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“For people who migrate—who feel lost—all of this is new,” said Luis Florez, a 37-year-old from Colombia who took part in the program in 2024, where he learned what a credit score is, how to open a local bank account and take the city’s subways without getting lost.

Hildalyn Colon Hernandez, chief operations and strategic officer at NICE, leading a session about housing and tenants’ rights on Jan. 22, 2026. (Adi Talwar/City Limits)

There’s no manual or crash course on how to live in New York City. And life in the Big Apple can be even more difficult for new immigrant arrivals and those who speak languages other than English.

That’s what New Immigrant Community Empowerment (NICE), a nonprofit in Jackson Heights, has been working to deliver: a workforce training program to teach immigrant (as well as non-immigrant) New Yorkers not just how to get a job, but how to navigate life in the city.

The NICE Pre-Apprenticeship for Life and Work program provides tools for using and understanding New York’s school, healthcare, housing, and transportation systems. It also prepares participants for jobs and trains them for today’s digital world and labor market, and includes a know-your-rights session on immigration.

“For people who migrate—who feel lost—all of this is new: it’s like being reborn because one doesn’t even know the language,” said Luis Florez, a 37-year-old from Colombia who took part in the program in 2024, where he learned what a credit score is, how to open a bank account, and how to use the city’s buses and subways without getting lost. 

For years, organizations have seen that workforce training in a single subject—such as Occupational Safety and Health (OSHA) certification, required for construction jobs—leaves out many other areas that affect people’s lives and livelihoods. For new immigrants, even getting a coveted work permit is no guarantee they’ll find stable employment.  

“We have found that even people with the paperwork can still not get a job,” said Hildalyn Colon Hernandez, NICE’s chief operations and strategic officer.

NICE launched the Pre-Apprenticeship for Life and Work in 2024, and has been quietly developing it and experimenting with different pilots for more than a year, Colon Hernandez said. 

More than 30 participants of various ages and backgrounds recently completed the three-week program in February. They include Marioxi, who arrived in the city five months ago from Venezuela and preferred to withhold her last name.

Marioxi, 32, took the program this winter, in the hopes it will open doors for her after her seasonal restaurant job ended. (Adi Talwar/City Limits)

“I was blessed by God to enter in January,” she said, part of the last group of people who entered the U.S. through the CBP One app, which temporarily allowed migrants to book appointments at points of entry to claim asylum or request parole, until the Trump administration quickly removed the appointment-scheduling feature. “Blessed with one of the last appointments,” Marioxi said.

Like several other participants in the program, she learned about it through word of mouth. In her case, a relative who had known about NICE for over a decade advised her to enroll in an OSHA construction certification course.

There were no openings for these, she remembered being told, so NICE offered her a spot in the Life and Work course. Marioxi, 32, has been looking for work after finishing a seasonal Christmas job at a restaurant, and hopes the course will open doors for her. 

It helped her polish up her resume and prepare for a job interview, including through a mock interview. She is now taking NICE English classes in the afternoons. “I really enjoy interacting, talking, and getting to know people,” Marioxi said. “I really enjoy customer service and communication jobs.”

In one of the sessions City Limits attended, Maria Ceballos, NICE’s workforce counselor, conducted activities to build on “soft” skills, like problem-solving and critical thinking. She asked participants to navigate imaginary scenarios (such as surviving a zombie apocalypse or crossing a jungle) using random materials inside a box (a flashlight, tape, batteries, black bags, among others).

“That [activity] is the one we enjoy the most because they use all their skills,” Ceballos said. “What I have observed through my work experience is that we often believe we need a college degree to qualify for a job, but often the most important thing is the skills we have and being able to apply them. These can be technical skills and soft skills that are intertwined.”

Participants during a class in January that focus on the local housing market and tenants’ rights. (Adi Talwar/City Limits)

The course also seeks to inform participants about the rights and protections they’re entitled to in New York City, since immigrants—especially those who face language barriers—can often be more vulnerable to scams or paying unnecessary fees

During another class City Limits attended on housing, for example, most participants still believed they had to pay fees for real estate brokers hired by landlords when leasing an apartment—unaware of the Fairness in Apartment Rental Expenses (FARE) Act, which the city implemented last year banning that practice.

While the program doesn’t guarantee job placement, several participants have found work, including as teaching assistants in city schools, NICE said. Health insurance provider Metro Plus Health, whose staff volunteered to do mock interviews with program participants in the most recent cohort, expressed interest and asked for the resumes of a few people, Colon Hernandez noted.

For some, it’s the first formal job interview they’ve ever had. “They [the participants] have said, ‘You are the first [person] that actually has done an interview with me, and I’ve been here in this country for 10 years,’” Colon Hernandez recalled hearing one student share.

The organization also shares job offers via email and encourages former participants to apply. That’s how Florez found out about a job at La Guardia Airport with full benefits.

New Immigrant Community Empowerment (NICE) on Roosevelt Avenue in Queens. (Adi Talwar/City Limits)

He was originally looking for work in construction, but needed OSHA certification to land one. NICE didn’t have spots available for that training at the time, but there were still spots open in this new workshop, which lasted five weeks back then, ending with OSHA classes.

In the end, Florez said, he received his OSHA certification, but never used it. After finishing the course, he landed a dishwashing job at LaGuardia Airport, where he has been working since July.  

Despite now having a stable job, he and his family—his wife and daughter—have not yet managed to leave the city’s shelter system, where they arrived in 2024. He has recommended the NICE workshop to his wife, but she hasn’t been able to commit because she needs to take care of their daughter after school.

“Rent is very high here,” Lopez admitted.

Before moving to New York, Florez said he was a pharmacist for more than 10 years in Colombia. His situation is not uncommon, says Macarena Moraga, NICE’s grants, research, and evaluation director. 

“Many people have already built their careers in their home countries, but when they arrive, they have few opportunities to use their skills or show what they can do,” Moraga said.

NICE is planning to hold four more sessions of the Pre-Apprenticeship for Life and Work program. For those interested, the best way to sign up is to go to the organization in person, ask about the program, and bring the necessary documents (such as a photo ID and work permit, Green Card, or U.S. passport).

To reach the reporter behind this story, contact Daniel@citylimits.org. To reach the editor, contact Jeanmarie@citylimits.org

Want to republish this story? Find City Limits’ reprint policy here.

The post At Queens Job Training Program, Immigrant Workers Learn to Navigate Life in NYC appeared first on City Limits.

EU privacy investigation targets Musk’s Grok chatbot over sexualized deepfake images

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By KELVIN CHAN

LONDON (AP) — Elon Musk’s social media platform X faces a European Union privacy investigation after its Grok AI chatbot started spitting out nonconsensual deepfake images, Ireland’s data privacy regulator said Tuesday.

Ireland’s Data Protection Commission said it notified X on Monday that it was opening the inquiry under the 27-nation EU’s strict data privacy regulations, adding to the scrutiny X is facing in Europe and other parts of the world over Grok’s behavior.

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Grok sparked a global backlash last month after it started granting requests from X users to undress people with its AI image generation and editing capabilities, including putting females in transparent bikinis or revealing clothing. Researchers said some images appeared to include children. The company later introduced some restrictions on Grok, though authorities in Europe weren’t satisfied.

The Irish watchdog said its investigation focuses on the apparent creation and posting on X of “potentially harmful” nonconsensual intimate or sexualized images containing or involving personal data from Europeans, including children.

X did not respond to a request for comment.

Grok was built by Musk’s artificial intelligence company xAI and is available through X, where its responses to user requests are publicly visible.

The watchdog said the investigation will seek to determine whether X complied with the EU data privacy rules known as GDPR, or the General Data Protection Regulation. Under the rules, the Irish regulator takes the lead on enforcing the bloc’s privacy rules because X’s European headquarters is in Dublin. Violations can result in hefty fines.

The regulator “has been engaging” with X since media reports started circulating weeks earlier about “the alleged ability of X users to prompt the @Grok account on X to generate sexualized images of real people, including children,” Deputy Commissioner Graham Doyle said in a press statement.

Spain’s government has ordered prosecutors to investigate X, Meta and TikTok for alleged crimes related to the creation and proliferation of AI-generated child sex abuse material on their platforms, Spanish Prime Minister Pedro Sánchez said on Tuesday.

“These platforms are attacking the mental health, dignity and rights of our sons and daughters,” Sánchez wrote on X.

Spain announced earlier this month that it was pursuing a ban on access to social media platforms for under-16s.

Representatives from X, Meta and TikTok did not immediately respond to a request for comment on the Spanish probe.

Earlier this month, French prosecutors raided X’s Paris offices and summoned Musk for questioning. Meanwhile, the data privacy and media regulators in Britain, which has left the EU, have opened their own investigations into X.

The platform is already facing a separate EU investigation from Brussels over whether it has been complying with the bloc’s digital rulebook for protecting social media users that requires platforms to curb the spread of illegal content such as child sexual abuse material.

Associated Press writer Suman Naishadham in Madrid contributed to this report.