Business news

Business news • May 13

Allegiant closes $1.5B deal to acquire Sun Country Airlines

Allegiant Travel Co. on Wednesday completed the $1.5 billion merger with Sun Country Airlines and the two air carriers will operate separately as they work...

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Business news • May 13

Americans Oppose AI Data Centers in Their Area

Seven in 10 Americans oppose the construction of an AI data center in their local area, including 48% strongly opposed.

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Business news • May 13

Cisco Earnings, Revenue Beat As Stock Hits Record High Amid Strong AI Orders

Cisco reported fiscal Q3 earnings and revenue that topped estimates. Cisco stock, which hit a record high on Wednesday, climbed on the news.

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Business news • May 13

Nvidia Rallies As CEO Jensen Huang Joins Trump's China Trip

Nvidia stock rallied Wednesday, lifted by news that Chief Executive Jensen Huang joined a delegation of U.S. CEOs accompanying President Donald Trump on a...

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Business news • May 13

Boston Fed’s Collins Flags Rate-Hike Scenario as Inflation Risks Tilt Higher

In an interview, the Fed official said she is watching how households' inflation expectations have drifted higher.

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Business news • May 13

Iran war is fueling China’s clean energy surge ahead of Trump-Xi talks

The Iran war is driving countries toward Chinese EVs, solar and batteries — strengthening China's hand as Trump seeks trade wins in Beijing.

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Business news • May 13

Fervo Energy IPO: The Bill Gates-Backed Stock Soars in Trading Debut

Fervo Energy, a Houston-based geothermal energy firm, sold $1.9 billion worth of shares at $27 each in its IPO. Fervo stock jumped during its market debut.

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Business news • May 13

Our Path Forward

This afternoon, we shared the following email with Cisco employees. —. Team,. Today we announced our Q3 FY26 earnings with record revenue of $15.8 billion,...

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Business news • May 13

Cisco to Cut Jobs in Bid to Focus on Fast-Growing AI Market

Cisco Systems Inc. gained as much as 19% in late trading after the company delivered a better-than-anticipated sales forecast and announced plans to cut...

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Business news • May 13

Cisco's stock pops 17% on surging AI orders, as company says it's cutting almost 4,000 jobs

Cisco's AI story has finally started resonating with Wall Street, with the stock hitting a record late last year and continuing to rally in 2026.

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Business news • May 13

Allegiant CEO makes case for low-cost airline model as Sun Country acquisition closes

Allegiant CEO Greg Anderson said leisure travel demand is still strong despite higher fuel prices.

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Business news • May 13

Huang, Musk, Cook Among Billionaire Delegation At Trump’s Xi Meeting

A group of billionaires—worth a combined $1.07 trillion, according to our estimates—joined President Donald Trump on his trip to China this week to meet...

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Business news • May 13

LinkedIn's layoffs will come with operational changes, memo shows

LinkedIn's layoffs are coming with changes to some of the company's operations, according to an internal memo from its chief product officer.

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Business news • May 13

Musk’s xAI is running nearly 50 gas turbines unchecked at its Mississippi data center

Gas turbines at xAI's Colossus 2 data center have drawn a lawsuit over the company's use of "mobile" gas turbines as power plants.

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Business news • May 13

Tomatoes, seafood and more: Why are these grocery prices soaring?

Grocery prices in the U.S. soared faster in April than any month in nearly four years, driving up the cost of everything from frankfurters to tomatoes to...

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Business news • May 13

Kevin Warsh confirmed as Fed chair, ushering in new era for central bank

He enters the job at a fraught moment, with President Donald Trump aggressively pushing for the Fed to sharply lower interest rates.

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Business news • May 13

Trump jets to China with gaggle of CEOs, hoping Xi will ‘open up’ to them

Tesla's Elon Musk, Nvidia's Jensen Huang and others will accompany the president, who said he'll advocate for them "so that these brilliant people can work...

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Business news • May 13

Senate confirms Kevin Warsh as next chair of the Federal Reserve

President Trump's pick to lead the Federal Reserve won Senate confirmation on Wednesday, just in time to officially take over as the leader of the central...

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Business news • May 13

The Economy That Kevin Warsh, the Federal Reserve’s New Chair, Is Inheriting

The incoming chair of the Fed will need to navigate a delicate economic moment, a president who wants to lower rates and an increasingly divisive leadership...

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Business news • May 13

Kevin Warsh confirmed as Fed chair, succeeding Jerome Powell

Kevin Warsh was narrowly confirmed Wednesday by the Senate to serve as the 17th chair of the Federal Reserve, inheriting a central bank that has long been...

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