Business news

Business news • Jun 11

Massive Effigy of Elon Musk Raised Over Times Square to Protest Grok

In the middle of New York City's Times Square, a massive, inflatable effigy of billionaire Elon Musk towered over tourists and commuters earlier today.

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Business news • Jun 11

SpaceX to make historic IPO that could make Musk a trillionaire

Elon Musk's SpaceX on Thursday confirmed it will begin trading on the Nasdaq exchange Friday in the biggest initial public offering in history,...

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Business news • Jun 11

Adobe beats Q2 estimates but CFO departure spooks investors

Adobe Inc (NASDAQ:ADBE) reported second-quarter revenue of $6.62 billion, topping analyst expectations of $6.45 billion, but investors were rattled by news...

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Business news • Jun 11

Exclusive | SpaceX IPO Draws at Least $5 Billion Order From BlackRock

Other large asset managers made similar requests, along with fervent interest from individual investors.

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Business news • Jun 11

Rates Drop Sharply to One Week Lows

Mortgage rates began the day in uneventful fashion with the average lender right in line with yesterday's latest levels. Things might have gotten off to a...

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Business news • Jun 11

SpaceX cafeteria workers poised to become millionaires after blockbuster IPO — 4,400 employees set to hit 7-figures

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. With SpaceX's IPO (NASDAQ: SPCX), much of the attention...

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Business news • Jun 11

JPMorgan sends another message on strait of Hormuz, oil prices

JPMorgan updated its blunt Strait of Hormuz warning as tanker traffic hits 15% of normal. Here is what it means for oil prices and the US economy in 2026.

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Business news • Jun 11

World Bank cuts global growth outlook to 2.5%, warns of drop to 1.3% if war fallout spreads to markets

WASHINGTON, June 11 (Reuters) - The World Bank on Thursday cut its global growth forecast for 2026 to 2.5% due to the war in the Middle East, and said...

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Business news • Jun 11

Oil tanker CEO sees Hormuz ship traffic quickly increasing if U.S. and Iran reach a deal

Frontline CEO Lars Barstad said oil tanker traffic through the Strait of Hormuz should quickly increase if the U.S. and Iran reach a credible deal.

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Business news • Jun 11

Some US employers to drop coverage of GLP-1 obesity drugs in 2027 as use increases

NEW YORK, June 11 (Reuters) - Some employers are planning to drop coverage of GLP-1 drugs for weight loss next year as more people take the medications,...

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Business news • Jun 11

US producer prices spike in May as soaring energy prices fuel largest yearly jump since 2022

U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by surging energy prices.

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Business news • Jun 11

Average US long-term mortgage rate rises to 6.52%, just below its high for the year

The average long-term U.S. mortgage rate ticked up this week to just below its high for the year, the latest sign that borrowing costs on home loans remain...

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Business news • Jun 11

Inside The Over 100-Year Race To The World’s First $1 Trillion Man

T he world gained its first ever trillionaire on Friday, when Elon Musk took his rocket and satellite company SpaceX public in the biggest IPO in history.

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Business news • Jun 11

China Is Quietly Keeping World Oil Prices Lower

China has quietly become a brake on global oil prices—by not buying as much of the stuff. With the Iran war disrupting flows through the Strait of Hormuz,...

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Business news • Jun 11

Prometheus, the industrial AI startup from Jeff Bezos, is now worth $41 billion

Prometheus, the industrial AI startup led by Jeff Bezos and former Google exec Vik Bajaj, today will announce that it's raised $12 billion in Series B...

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Business news • Jun 11

FDA’s e-cigarette authorization: Fruity vapes not significantly better than tobacco ones

A new memo from U.S. health regulators is raising questions about a recent decision to authorize the first fruit-flavored e-cigarettes for adult smokers.

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Business news • Jun 11

Europe Raises Interest Rates as War Stokes Inflation

The European Central Bank raised interest rates on Thursday, becoming the first major central bank to act to rein in rising inflation set off by the war in...

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Business news • Jun 11

Rates tick up after hot inflation and strong jobs numbers: Mortgage and refinance interest rates today

These are today's mortgage and refinance interest rates, Thursday, June 11, 2026. The 30-year fixed-rate purchase loan rose 7 basis points to 6.40%.

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Business news • Jun 11

New Fed chief may soon be forced to defy Trump and raise interest rates

Kevin Warsh will hold his first policy meeting next week with inflation at a three-year high and a president who expects lower borrowing costs.

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Business news • Jun 11

OpenAI Execs Are Panicking

Executives at OpenAI are pondering whether to kick off a price war with the company's biggest competitor, Anthropic.

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