Business news

Business news • Jun 23

Sangamo to put ‘substantially all’ assets for sale in bankruptcy, lines up Lilly and Astellas as buyers

Eli Lilly and Astellas have emerged as “stalking horse bidders” for certain assets as part of Sangamo's bankruptcy process.

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Business news • Jun 23

Factory job cuts in June neared financial crisis and Covid levels, S&P says

Job cuts at U.S. factories ran near their highest levels since the end of the global financial crisis in 2009 and the Covid-19 pandemic as worries grew over...

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Business news • Jun 23

75% More Pedestrians Have Been Killed Since 2009. Giant Trucks and SUVs Are Why

Since 2009, there has been a documented shift in road safety for American pedestrians. After decades of declines, pedestrian fatalities have been steadily...

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Business news • Jun 23

Micron, Sandisk And SK Hynix Are Tanking On Korea Selloff — Dan Ives Says That’s Not The Story

South Korea's tech-heavy KOSPI index plunged roughly 10% on Tuesday, triggering circuit breakers and raising fresh concerns that one of the market's hottest...

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Business news • Jun 23

AMD And Nvidia Are Neck In HPC Supercomputing

Necessity is always the mother of invention, and if you are trying to create an indigenous compute engine design and manufacturing capability,...

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Business news • Jun 23

SpaceX's drop off sees Elon Musk's net worth fall $240 billion—roughly the same value as computing giant IBM

Musk's net worth has dropped from a peak of $1.32 trillion to $1.08 trillion at the time of writing, per the Bloomberg Billionaires Index.

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Business news • Jun 23

Pfizer’s first new ADC from Seagen acquisition fails phase 3 NSCLC trial

Pfizer's high-stakes bet on antibody-drug conjugates (ADCs) has hit a speed bump. The pharma giant announced Monday that sigvotatug vedotin, the first new...

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Business news • Jun 23

Explainer: What are the Fed's bank 'stress tests' and what's new this year?

The U.S. Federal Reserve is due to release the results of its annual bank health ​checks on Wednesday at 4:00 p.m. ET (2000 GMT).

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Business news • Jun 23

Ranking the "Magnificent Seven" From Most to Least Attractive, Based on Future Cash Flow

Earlier this month, all of Wall Street's major indexes reached fresh record highs. While artificial intelligence (AI) has been the stock market's prime...

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Business news • Jun 23

China beats US with world's fastest supercomputer, but race not geared for AI work

China ​has overtaken the U.S. to win the top spot on a list of the world's fastest supercomputers, but the results may ‌say more about Beijing's desire to...

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Business news • Jun 23

AI on pace to bypass cybersecurity systems in months, not years, "Five Eyes" spy partners warn

The most advanced artificial intelligence models are improving quickly enough to outsmart prevailing cybersecurity know-how within months, the Five Eyes spy...

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Business news • Jun 23

Surprise! Chinese LineShine Takes Number 1 on TOP500

The Chinese supercomputer LineShine surprised the field and took the number one spot on the latest TOP500 list, which was unveiled today at ISC26 in Hamburg...

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Business news • Jun 23

China Takes Supercomputer Crown From U.S. For First Time Since 2017

A supercomputer in Shenzhen was declared the world's fastest. It uses only standard microprocessors and not the special-purpose chips called graphics...

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Business news • Jun 23

Trouble getting weight loss drugs covered by insurance? Here's what to know

If your doctor prescribes a GLP-1 medication for weight loss but your insurance won't cover it, you have options.

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Business news • Jun 23

SpaceX closes nearly 1% higher, snapping three-day losing streak

Gains have been pared back at the space and AI company following an initial surge off of its record-breaking IPO.

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Business news • Jun 23

S&P 500 futures decline after tech sell-off drags down broad market index; South Korea's Kospi falls over 6%: Live updates

Tech giants tumbled in Monday's regular trading, dragging down the S&P 500 and Nasdaq Composite.

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Business news • Jun 23

Greenspan’s Legacy Is as Convoluted as His Words

His reputation no longer lies in post-crisis tatters, but should it inspire Trump 2.0?

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Business news • Jun 23

SpaceX Had A Blockbuster Listing. Then It Lost $600 Billion In Just 3 Days

Retail trading in SpaceX, officially named Space Exploration Technologies Corp., was the strongest of any IPO in recent history.

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Business news • Jun 23

US watchdog opens probe after Tesla crashes into Texas home, killing woman

Road safety regulator investigates crash involving a Model 3 that had been reportedly operating in self-driving mode.

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Business news • Jun 23

Asian shares are trading mixed amid caution about the war in Iran

Asian shares are mixed in subdued trading as recent enthusiasm cools and markets face uncertainty about efforts to end the war in Iran.

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