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In January 2024, Office 365 quietly reached 400 million paid seats. Microsoft (MSFT 0.26%) products are as integrated into our professional lives as meetings that could’ve been emails, but these “boring” and decades-old tools are the fuel Microsoft is using to compete in the artificial intelligence (AI) race.

As AI progresses and automates away chunks of the professional world as we know it, the legacy suite of Microsoft 365 products shows no signs of slowing down. This ability to quietly and reliably generate revenue is funding Microsoft’s riskier AI bets.

Office products generated $54.9 billion in fiscal year 2024 (the 12 months ended in June 2024). That was 22% of all of Microsoft’s revenue. Microsoft 365 will keep the company on the leaderboard of AI innovators for years to come. This is great news for long-term Microsoft investors.

Image source: Getty Images.

Microsoft’s lagging AI strategy

Microsoft is still playing catch-up when it comes to generative AI. OpenAI leads with more than 200 million weekly active users and set the gold standard with the release of ChatGPT in 2022. Alphabet‘s Google and Meta Platforms both have models nearly equivalent to OpenAI.

Compared to these companies, Microsoft got a late start in deciding on an AI strategy. However, it has since closed the gap significantly by partnering with competitor OpenAI and, as of the end of 2024, was beginning to build models in-house.

Microsoft also purchased billions in Nvidia chips and continues to innovate on its cloud computing platform, Azure, and agentic powerhouse, Copilot. These strategic moves are, thus far, keeping pace with the other major players in the AI industry.

Microsoft requires immense amounts of capital to remain competitive in the AI landscape. Fortunately, its decades-old productivity and business lines are the stable engine propelling Microsoft into its new, automated era.

The Office moat

Normally, when one thinks of a legacy business, it’s of an outdated, shrinking portion of revenue. That is not the case with Microsoft’s Office products. Microsoft 365, including the applications Excel, Word, PowerPoint, Teams, and Outlook, is still growing by double digits year over year.

This indicates these product lines are not only here to stay, but are so universally adopted by businesses and individuals alike that it’ll be nearly impossible to dethrone them anytime soon.

These products are also mostly recession-resistant, as businesses are unlikely to cut them in an economic downturn. Microsoft also switched to a subscription model more than a decade ago, making revenue from these lines of business extraordinarily predictable and dependable.

The significant growth in the legacy products is also great news for the capital-intensive investments Microsoft will need to continue making for the next several years. Microsoft reports that it’s on track to invest approximately $80 billion to build out AI-enabled data centers for training and deploying AI models and applications.

Microsoft’s AI revenue is exploding

In its earnings call on July 30, Microsoft revealed Azure’s income for the first time: a whopping $75 billion, an increase of 34%, according to chairman and CEO Satya Nadella.

The CEO added, “Cloud and AI is the driving force of business transformation across every industry and sector. We’re innovating across the tech stack to help customers adapt and grow in this new era.”

Microsoft’s market cap is approaching $4 trillion, and there seems to be quite a bit of room left for growth, particularly if the company’s big AI bets pay off.

Microsoft remains a top competitor

For investors, Microsoft remains a solid long-term play, largely because of the stable products users have known for years. With a quarterly dividend of $0.91 per share, investors are rewarded on both the value and growth side, though the dividend yield is under 1%. Microsoft’s burgeoning agentic and innovative technologies will continue to produce massive revenue alongside mature, reliable products.

Overall, Microsoft’s total revenue increased 18% from Q4 2024 to Q4 2025. There’s plenty of risk associated with investing in AI technologies, but thanks to Microsoft’s steady lines of business, the downside is far less than that of many competitors.

Social Security may be the most valuable retirement asset most Americans have. The pension for retired workers accounted for 20% of families’ total wealth in 2022, according to a study by the Congressional Budget Office. That’s based on a calculation valuing all future payments at present value.

Those future payments get a boost every year, which could make them even more valuable to Americans. The annual cost-of-living adjustment (COLA) helps benefits keep up with inflation. And while we won’t have the official 2026 COLA number until mid-October, it looks like it’ll come in higher than what analysts anticipated at the start of the year.

But a bigger COLA isn’t necessarily reason for Social Security recipients to celebrate. Here’s what retirees need to know.

Image source: Getty Images.

What’s pushing the 2026 COLA higher?

The annual COLA is based on a standard measure of inflation published every month by the Bureau of Labor Statistics called the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W.

The CPI-W is one of several Consumer Price Index measurements the government publishes. The BLS surveys thousands of businesses and households across the country to collect pricing data on over 200 line items. Those prices are then indexed to a standard price from when the BLS first started collecting data, and weighted according to typical spending patterns of the group the index is supposed to follow. In the case of the CPI-W, the basket of goods represents the spending of working-age adults living in cities.

The Social Security Administration calculates the COLA by taking the average year-over-year increase in the CPI-W during the third quarter, i.e. July, August, and September. The BLS just published August’s CPI numbers on Sept. 11, with the CPI-W climbing 2.8% year over year. That follows a 2.5% increase in July. The final reading to determine the 2026 COLA will come out on Oct. 15.

Based on expectations for that reading, both The Senior Citizen’s League and independent analyst Mary Johnson have published their expectations for next year’s COLA. The former expects it to come in at 2.7% while the latter expects retirees to receive a 2.8% bump. Both estimates are higher than the 2.5% initial estimate The Senior Citizen’s League published before the start of the year.

The reasons for a higher COLA are bad news for 70 million beneficiaries

A bigger-than-expected raise is usually great news for those receiving it, but in the case of Social Security’s 70 million beneficiaries, it signals a challenging economic environment.

The biggest challenge is that the CPI-W doesn’t perfectly match the spending of most seniors. Most people don’t spend their money in retirement the same way they did when they were working age. They probably commute less and spend less on new clothing. They probably have different dining habits. And it’s almost certain that their medical bills have climbed higher as they grow older.

To that end, some of the biggest expenses seniors face are climbing faster than the overall CPI-W numbers. Medical care services were notably 4.2% higher this August than the year before. While gasoline prices were down, utilities were way up. Shelter expenses climbed 3.6%. Despite a 2.7% or 2.8% raise coming in January, most seniors have seen their real cost of living climb much more over the past year.

Rising medical costs are most prominently seen in the Medicare Trustees’ estimate for next year’s Medicare Part B premium. They expect the program will have to charge a standard monthly premium of $206.20 next year, an 11.5% increase from 2025. For those keeping track, that far outpaces the expectations for Social Security’s COLA. Beneficiaries age 65 and older enrolled in Medicare will see that amount come right out of their new monthly payments.

The Senior Citizens League contends this situation isn’t unique to this year’s COLA. It ran a study that estimates the buying power of someone’s benefits who started Social Security in 2010 has decreased 20% through 2024.

The best economic environment for Social Security has historically been slow, steady, and predictable inflation. Under the current administration, which has gone back and forth on trade policies numerous times since the start of the year, prices have become anything but predictable. While many businesses have taken preemptive steps to curb and delay the impact of tariffs, the costs will eventually get passed through to consumers. That could result in even more pain for those on a fixed income next year.

While a 2.7% or 2.8% raise might be bigger than anticipated, many seniors may find that it doesn’t go far enough next year.

Sept. 15 (UPI) — President Donald Trump said Monday that American public companies shouldn’t have to report quarterly earnings, and should instead change to a six-month schedule.

Trump said on Truth Social: “Subject to SEC Approval, Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis.’ This will save money, and allow managers to focus on properly running their companies. Did you ever hear the statement that, ‘China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis???’ Not good!!!”

Trump mentioned this potential change during his first term in office, too.

This would change the way U.S. companies do business, and it would more closely align with how public companies report in other countries.

The change requires approval from the Securities and Exchange Commission, which has required quarterly reporting since 1970.

Wall Street closely follows quarterly results to determine the financial performance of companies. Many public companies host earnings calls after they post their results, which is a chance for investors to ask questions about the company’s decisions.

A COMMON phone mistake that you think is saving battery life is actually doing the opposite.

Millions of us do it every single day – but even Apple has warned users not to bother.

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Loads of iPhone owners spend time every day quitting their apps.

They’ll swipe them closed, quitting them in order to save a bit of battery life.

But Apple says it doesn’t actually save battery life at all.

“You should only close an app if it’s unresponsive,” Apple said.

The iPhone maker continued: “Typically, there’s no reason to quit an app.

“Quitting it doesn’t save battery power, for example.”

In fact, it could even be making things worse.

After you move to a different app, the old one will be “suspended”.

“After you’ve switched to a different app, some apps will run for a short period of time before they’re set to a suspended state,” Apple explained.

“Apps that are in a suspended state aren’t actively in use, open or taking up system resources.”

They’re kept in a suspended state so that it’s quicker and more power-efficient to relaunch them.

But if you fully force-quit an app, it will need to reboot from scratch, which is slower and takes up more power.

So it’s better to just leave them in a suspended state unless there’s an actual issue with the app – like it keeps freezing or crashing.

HOW TO CHECK WHAT’S REALLY DRAINING YOUR BATTERY

So what are you supposed to do if your iPhone’s battery life isn’t as good as you’d like?

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Well you can very easily check to see which apps and features are draining the most battery.

Just go into Settings > Battery and you can look at a long list of apps order by how much charge they’re using.

If there are any high-drain apps you don’t really care about, consider deleting them.

Or try turning off Background App Refresh for that app if you don’t want it to periodically check for new info (like email notifications). Just note that this might make the app work less well.

BATTERY SWAP

Another option is to check up on the health of your iPhone’s battery.

Over time – as you charge and discharge them – phone batteries get worse. This is just the nature of lithium ion batteries.

That means the more you use your iPhone, the less charge it will hold over time.

So your iPhone will run out of battery more quickly.

IPHONE BATTERY SWAP – HOW MUCH WILL IT COST?

Here’s how much you’ll pay for iPhone battery replacements in the UK and the US..

iPhone 5 Series

iPhone SE Series

• iPhone SE (1st gen) – £N/A / $69
• iPhone SE (2nd gen) – £65 / $69
• iPhone SE (3rd gen) – £65 / $69

iPhone 6 Series

• iPhone 6 – £N/A / $69
• iPhone 6s – £N/A / $69
• iPhone 6s Plus – £N/A / $69

iPhone 7 Series

• iPhone 7 – £65 / $69
• iPhone 7 Plus – £65 / $69

iPhone 8 Series

• iPhone 8 – £65 / $69
• iPhone 8 Plus – £65 / $69

iPhone X Series

iPhone XR/XS Series

• iPhone XR – £85 / $89
• iPhone XS – £85 / $89
• iPhone XS Max – £85 / $89

iPhone 11 Series

• iPhone 11 – £85 / $89
• iPhone 11 Pro – £85 / $89
• iPhone 11 Pro Max – £85 / $89

iPhone 12 Series

• iPhone 12 mini – £85 / $89
• iPhone 12 – £85 / $89
• iPhone 12 Pro – £85 / $89
• iPhone 12 Pro Max – £85 / $89

iPhone 13 Series

• iPhone 13 mini – £85 / $89
• iPhone 13 – £85 / $89
• iPhone 13 Pro – £85 / $89
• iPhone 13 Pro Max – £85 / $89

iPhone 14 Series

• iPhone 14 – £95 / $99
• iPhone 14 Plus – £95 / $99
• iPhone 14 Pro – £95 / $99
• iPhone 14 Pro Max – £95 / $99

iPhone 15 Series

• iPhone 15 – £95 / $99
• iPhone 15 Plus – £95 / $99
• iPhone 15 Pro – £95 / $99
• iPhone 15 Pro Max – £95 / $99

iPhone 16 Series

• iPhone 16 – £95 / $99
• iPhone 16 Plus – £95 / $99
• iPhone 16 Pro – £109 / $119
• iPhone 16 Pro Max – £109 / $119

Picture Credit: Apple

You can get to see how degraded your iPhone’s battery has become by going into Settings > Battery > Battery Health.

Normally you’d expect to be at around 80% capacity versus new after two years – or roughly 500 “charge cycles”, which are full charges and discharges.

That means your phone only holds 80% of the charge it held when it was new.

There’s no way to fix that beyond getting a new battery.

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Apple will replace your iPhone’s battery at the Apple Store. It usually costs somewhere between £60 and £100 / $60 and $100 depending on the model, but it could be more or less than that.

This will give you like-new battery life, and costs far less than buying a new iPhone.

You might even find that your iPhone’s performance improves, as sometimes processor speed can be limited as a protection feature if your battery is severely degraded.

WASHINGTON — The man who oversees the nation’s military reposted a video about a Christian nationalist church that included various pastors saying women should no longer be allowed to vote and should “submit” to their husbands.

The extraordinary repost on X from Defense Secretary Pete Hegseth, made Thursday night, illustrates his deep and personal connection to a Christian nationalist pastor with extreme views on the role of religion and women.

In the post, Hegseth commented on an almost seven-minute-long report by CNN examining Doug Wilson, co-founder of the Communion of Reformed Evangelical Churches, or CREC. The report featured various pastors of the denomination advocating the repeal of women’s right to vote from the Constitution and parishioners saying that women should “submit” to their husbands.

“All of Christ for All of Life,” Hegseth wrote in his post that accompanied the video.

Hegseth’s post received more than 12,000 likes and 2,000 shares on X. Some users agreed with the pastors in the video, while others expressed alarm at the Defense secretary promoting Christian nationalist ideas.

Pentagon chief spokesman Sean Parnell said Friday that Hegseth is “a proud member of a church” that is affiliated with CREC and he “very much appreciates many of Mr. Wilson’s writings and teachings.”

In May, Hegseth invited his personal pastor, Brooks Potteiger, to the Pentagon to lead the first of several Christian prayer services that Hegseth has held inside the government building during working hours. Defense Department employees and service members said they received invitations to the event in their government emails.

“I’d like to see the nation be a Christian nation, and I’d like to see the world be a Christian world,” Wilson said in the CNN report.

Toropin writes for the Associated Press. Associated Press journalists Mike Pesoli in Washington and Ali Swenson in New York contributed to this report.