Business news

Business news • May 27

Ferrari’s First Electric Car Runs Into Backlash in Italy and Beyond

Memes mocked the new model, analysts questioned its appeal and investors sold the automaker's stock. A former Ferrari chairman warned of “the destruction of...

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Business news • May 27

Ferrari Luce: Why Ferrari's First Electric Car Isn't a Two-Door Supercar Like You Might Expect

The decision to turn the Luce into an SUV was born from the brand's approach to tech development.

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Business news • May 27

Exclusive | Amazon Strikes $6 Billion Deal With Snowflake for Agentic Computing Chips

Cloud-storage company joins Apple, Meta among AWS's largest customers for CPU-based computing; Snowflake shares jumped as much as 35%

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Business news • May 27

How Venezuela awarded Centerview a prized debt role with little competition

When interim Venezuelan President Delcy Rodriguez's administration announced the oil-rich country was embarking on an overhaul of its more than $150 billion...

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Business news • May 27

Pentagon awards Microsoft $9.7 billion deal in bid to cut costs, end license sprawl

The Pentagon on Wednesday announced a five-year, $9.69 billion ​agreement to consolidate Microsoft and ‌other enterprise software licenses scattered across...

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Business news • May 27

Stock Market Today: Dow, S&P 500 and Nasdaq close at record highs on hopes for Iran war ending; oil prices drop; Micron extends epic run

Intraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange...

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Business news • May 27

Robinhood Markets Now Has 27.6 Million Funded Accounts. Here's How Much That Number Really Matters.

Almost everyone has at least heard of Robinhood Markets (NASDAQ: HOOD) by now. The online brokerage first gained attention for pioneering zero-commission...

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Business news • May 27

Ferrari’s electric car: divisiveness is the point

Carmakers usually talk up a new model. Yet Ferrari (whose biggest shareholder, Exor, part-owns The Economist's parent company) is not like other car firms.

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Business news • May 27

Marvell Technology, Inc. Reports First Quarter of Fiscal Year 2027 Financial Results

Q1 Net Revenue: $2.418 billion, a new record, grew by 28% year-on-year Q1 Gross Margin: 52.1% GAAP gross margin; 58.9% non-GAAP gross…...

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Business news • May 27

Venezuela’s Debt Overhaul Pick Has Investors Asking Questions

Centerview won the restructuring adviser role without a formal bidding process, even as Caracas promises a more transparent break from the past.

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Business news • May 27

Nvidia bets $150B on Taiwan as Trump’s plan to make US an AI hub backfires

In a splashy move that signals that Taiwan remains irreplaceable to the AI industry's short-term and long-term goals, Nvidia CEO Jensen Huang announced...

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Business news • May 27

Oil Prices Fall Despite Mixed Messages on Peace Talks Over Iran

Oil prices fell Wednesday as Secretary of State Marco Rubio said at a cabinet meeting that the U.S. was giving a negotiated, diplomatic approach to end the...

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Business news • May 27

Oil Futures Fall on Hopes for U.S.-Iran Agreement

1520 ET – Oil futures settle at a six-week low on rising optimism about the U.S. and Iran reaching a deal to end the conflict and reopen the Strait of...

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Business news • May 27

Mark Zuckerberg’s mega yacht docks in Seattle in the wake of Meta layoffs

Mark Zuckerberg's enormous yacht is moored near Meta's Seattle office, where hundreds of people just lost their jobs. As of Wednesday afternoon, the $300...

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Business news • May 27

This Financial Holding Signals Healthy Trend for Banking, Trading Volumes

CEO Moynihan also tipped his hand on operating expense leverage for this year.

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Business news • May 27

FAA requires SpaceX-led mishap investigation before resumption of Starship launches

FAA requires SpaceX-led mishap investigation before resumption of Starship launches. The Federal Aviation Administration made the determination after...

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Business news • May 27

Silicon Valley is spending billions on AI tokens and nobody can agree if it's working

Uber COO Andrew Macdonald criticizes tokenmaxxing amid rising AI costs and limited productivity, sparking debate in Silicon Valley.

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Business news • May 27

Colorado overhauls state IT office, lays off 173 employees after negative feedback

The Governor's Office of Information Technology announced a major operational “realignment” Wednesday to overhaul how it supports the technology behind...

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Business news • May 27

More people are going hungry now than at the height of the pandemic

Food insecurity affects more families now than during the coronavirus pandemic, according to a new survey from the Federal Reserve Bank of New York.

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Business news • May 27

Venezuela’s $150 Billion Bet: Centerview, French banker Pigasse, and the Geopolitics of Sovereign Debt

Venezuela has initiated a complex $150 billion sovereign restructuring led by Centerview Partners, amid significant geopolitical changes and potential...

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