Business news

Business news • Jun 16

Rivian cuts hundreds of workers after R2 deliveries start

The company said the cuts were part of a restructuring meant to help scale to profitability. Rivian recently pushed back its profitability goal to invest in...

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Business news • Jun 16

General Motors and Lockheed Martin partner on boosting weapons production

General Motors and Lockheed Martin have announced a new collaboration aimed at accelerating weapons manufacturing using the carmaker's technologies.

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Business news • Jun 16

Trump DOJ Says xAI Gas Turbines Needed for National Security (1)

The NAACP's attempt to shut down gas-fired turbines that power data centers that support xAI's Grok chatbot threatens national security and must be...

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Business news • Jun 16

News: Roku, Rangers Sports Network, Paramount-WBD and more

Fox to purchase Roku; the Rangers Sports Network is reportedly interested in local NBA broadcast rights; and more sports media news.

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Business news • Jun 16

Opinion | The SpaceX IPO has a bright side

The company may have problems. But it still points to what is working in American capitalism.

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Business news • Jun 16

Elon Musk could lose nearly $1 trillion and still be the world's richest person

Elon Musk has been the world's richest person for a long time, but he has never seen wealth on this level. No one has. As SpaceX's (NASDAQ: SPCX) stock...

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Business news • Jun 16

The war with Iran is making oil changes pricier. And a deal won't solve it

The U.S. may be the world's biggest producer of crude oil, but that's not the case for motor oil. The cost of lubricants is soaring, and even a tentative...

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Business news • Jun 16

War Hangs Over American Farmers as Fertilizer Prices Rise

The Iran war and lower crop prices have hurt makers of sulfur-based supplements. But farmers won't skip nitrogen-based fertilizers, no matter the cost.

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Business news • Jun 16

2027 Chevy Silverado Enters the Fight With New Small-Block V8s, Fresh Looks

The full-size Bowtie goes where no other half-ton truck has in years by introducing next-gen V8 engines, but there's not much old-school left in this rig.

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Business news • Jun 16

Pour one out for Roku City

By this time next year, Fox Corporation CEO Lachlan Murdoch intends to have added Roku to his already expansive media empire. Should the acquisition go...

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Business news • Jun 16

Robinhood’s note on 10% layoffs shows blaming AI isn’t cutting it

Unlike many of his tech industry peers who have cut thousands of jobs citing the need to restructure to make the most of AI, Robinhood's CEO Vlad Tenev...

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Business news • Jun 16

'Godfather' of options sees SpaceX surpassing Nvidia, Tesla as early trades come in

SpaceX options are officially listed, and they're off to the races.

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Business news • Jun 16

Olin to buy Huntsman in a $2.43 billion deal amid challenging chemicals market

Olin said on Tuesday it will acquire Huntsman in an all-stock deal valued at about $2.43 billion, combining two U.S. chemical producers as the industry...

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Business news • Jun 16

How the Iran war energy crisis defied expectations

With large-scale oil shipments potentially resuming soon, let's take stock of how the energy shock has bucked conventional wisdom.

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Business news • Jun 16

New 'Apple One' Perk Extends to Chase's Sapphire Reserve Credit Card

Yesterday, we reported that Chase's Sapphire Preferred credit card ($95 annual fee) now offers a complimentary one-year Apple TV streaming subscription,...

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Business news • Jun 16

‘Awful thing:’ Elon Musk’s xAI seeks dismissal of NAACP lawsuit

xAI and its subsidiary have filed a motion to dismiss the suit, citing that its operation is crucial to the nation's economy.

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Business news • Jun 16

‘Reeks of Corruption’: Top DOJ Officials Reportedly Cleared Paramount-Warner Bros. Merger Before Staff Lawyers, Who Were ‘Leaning’ Toward Antitrust Lawsuit, Could Object

Top Justice Department officials moved to drop the antitrust investigation into Paramount's $111 billion takeover of Warner Bros. Discovery before the team...

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Business news • Jun 16

On Uber and Lyft, different prices for the same ride raise questions about how fares are calculated

A Consumer Reports investigation finds Uber and Lyft riders often see different prices even when they request rides at the same time on the same route.

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Business news • Jun 16

U.S. oil stockpile falls to 43-year low

The U.S. Strategic Petroleum Reserve played a critical role in keeping a lid on oil and gasoline prices during the Iran war, but it's running low.

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Business news • Jun 16

How SoFi Went From Fintech Darling To Wall Street Pariah

Former investment banker Anthony Noto built SoFi into a lending juggernaut, helping to push its valuation to nearly $40 billion. Now Wall Street is doubting...

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