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Wells Fargo expects more job cuts and higher severance costs in this quarter that ends in three weeks, bank CEO and President Charlie Scharf said Tuesday at an investors conference in New York. He's also betting on AI to drive efficiency and, eventually, further workforce reduction.From a report: "As we've gone through the budgeting process, and even pre AI, we do expect to have less people as we go into next year," Scharf said at the Goldman Sachs Financial Services Conference in New York City. "We'll likely have more severance in the fourth quarter." The fourth quarter runs Oct. 1 through Dec. 31 for the San Francisco-basaed bank. Wells Fargo already has shrunk from 275,000 employees to about 210,000 since Scharf joined the bank in 2019 -- about a 24% decrease. Its largest employee base remains in Charlotte, with about 27,000 workers.

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As the battle over Warner Bros. Discovery grows, two Democratic lawmakers are warning that their party may try to block or unravel any acquisition by Paramount when it returns to power. Semafor: In a letter to the WBD board and Treasury Secretary Scott Bessent first shared with Semafor, Reps. Sam Liccardo (D-Calif.) and Ayanna Pressley (D-Mass.) said they were concerned about the national security risk of letting foreign entities control a large portion of the US entertainment and media industry. They also hinted that a future Democratic Congress and administration could try to unravel any Paramount-WBD deal. "Future Congresses ... will review many of the decisions of the current Administration, and may recommend that regulators push for divestitures, which would undermine the strategic logic of this merger," they wrote. "We urge the Board to weigh these national security and regulatory liabilities in evaluating a transaction burdened by uncertain but potentially extensive mitigation obligations, foreign influence risks, or adverse regulatory action."

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Amazon says it will allow authors to offer their DRM-free ebooks in the EPUB and PDF formats through its self-publishing platform, Kindle Direct Publishing. Starting on January 20, 2026, authors who set their titles as DRM-free will see their books made available in these more open formats. From a report: The decision to use Digital Rights Management (DRM), a copyright protection mechanism, is set by the authors when they publish their ebooks on Amazon's platform. The company notes these changes won't impact previously published titles. If authors want to change the status of older titles, they'll have to log into the Kindle Direct Publishing (KDP) author portal and change an option in the settings. (Instructions on how to make that change are on Amazon's KDP support site here.) This move may actually incentivize authors to apply DRM to their ebooks.

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New submitter emangwiro shares a report: The HDMI Forum, responsible for the HDMI specification, continues to stonewall open source. Valve's Steam Machine theoretically supports HDMI 2.1, but the mini-PC is software-limited to HDMI 2.0. As a result, more than 60 frames per second at 4K resolution are only possible with limitations. In a statement to Ars Technica, a Valve spokesperson confirmed that HDMI 2.1 support is "still a work-in-progress on the software side." "We've been working on trying to unblock things there." The Steam Machine uses an AMD Ryzen APU with a Radeon graphics unit. Valve strictly adheres to open-source drivers, but the HDMI Forum is unwilling to disclose the 2.1 specification. According to Valve, they have validated the HDMI 2.1 hardware under Windows to ensure basic functionality.

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