Business news

Business news • May 13

Global oil supply to plunge below demand this year due to Iran war, IEA says

LONDON, May 13 (Reuters) - Global oil supply will fall short of ‌total demand this year as the Iran war wreaks havoc on Middle East oil production and...

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Business news • May 13

Lloyd Blankfein just put his finger on why even Goldman Sachs is wary of AI agents

Lloyd Blankfein spent decades at Goldman Sachs learning how to manage risk at scale. He watched the firm navigate the 1987 crash, the dot-com bust,...

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Business news • May 13

Amazon launches an AI shopping assistant for the search bar, powered by Alexa+

Alexa for Shopping offers a voice- and touch-enabled shopping experience across mobile, desktop, and Echo Show smart displays. Alexa for Shopping provides...

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Business news • May 13

r/WallStreetBets really hates the SEC’s proposal to weaken quarterly reporting

The Securities and Exchange Commission officially proposed last week to weaken the quarterly reporting standards for publicly traded companies.

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Business news • May 13

Thousands of Waymos recalled after robotaxi swept into a creek

Waymo is recalling thousands of its self-driving cars in the US over a software issue that could allow vehicles to drive into flooded roads.

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Business news • May 13

Altman details Musk's OpenAI fallout, says nonprofit was 'left for dead'

Musk has accused Altman and another OpenAI co-founder of trying to "steal a charity"

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Business news • May 13

Tariff Refunds Begin to Reach Businesses as Trump Lashes Out at Court

The government must return about $160 billion, plus interest, collected from duties deemed illegal and potentially more if it loses a related tariff case.

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Business news • May 13

All The Shortages Caused By The Iran War—So Far

Calbee, Japan's biggest snack maker, on Tuesday warned its products will switch from their famously colorful packaging to black-and-white labels by the end...

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Business news • May 13

Walmart cuts 1,000 roles to simplify operations, Reuters reports

has eliminated 1,000 roles as the world's largest retailer simplifies its operating structure, a ⁠source familiar with the matter told Reuters.

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Business news • May 13

Will California gas hit $7? Experts are split.

California gas topped $6 after the Iran war. Experts warn oil supplies could tighten and push prices higher.

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Business news • May 13

Alibaba Stock (BABA) Jumps 8% Despite Q4 Earnings Miss — What’s Driving the Rally?

Alibaba Group ($BABA) stock closed 8% higher on Wednesday even after the company reported weak fourth-quarter results earlier in the day.

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Business news • May 13

Washington Has Talked about Crypto for Years. The Market Is Watching this Vote

The U.S. Senate Banking Committee is scheduled to hold a pivotal vote on May 14 that could mark a turning point for the entire crypto industry.

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Business news • May 13

Warsh has big plans for the Fed, but results may take time

WASHINGTON, May 13 (Reuters) - Fifteen years after leaving the Federal Reserve in opposition to an expansive bond-buying program that has since saddled it...

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Business news • May 13

‘The only thing that terrifies me is BYD’: Politicians quake at Chinese EVs

The question is when, not if, U.S. and European auto markets will open up to Chinese EV investment.

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Business news • May 13

Short flights are popular. Will they last?

Some flights are less than 100 miles, and they're the backbone of the U.S. air system, linking small towns and big cities. But short routes were in decline...

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Business news • May 13

Why Warsh's Democrat problem could come back to bite him

Jerome Powell survived the most politically fraught period in the Federal Reserve's history because of the strong ties he developed with lawmakers from both...

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Business news • May 13

Oil Market Report - May 2026 – Analysis

Oil Market Report - May 2026 - Analysis and key findings. A report by the International Energy Agency.

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Business news • May 13

Hot inflation report throws cold water on Fed rate cuts

A hot April inflation report fueled by soaring energy prices is complicating incoming Fed Chair Kevin Warsh's push for Fed rate cuts in 2026 and reshapes...

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Business news • May 13

GME, EBAY: ‘Takeover Fight May Just Be Starting,’ Says Morgan Stanley after eBay Rejects GameStop Bid

eBay ($EBAY), the e-commerce marketplace company, rejected GameStop's ($GME) unsolicited $125-per-share takeover offer on Tuesday, calling the proposal...

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Business news • May 13

Trump to Be Joined by Elon Musk and Other CEOs at Xi Summit in China

The delegation includes business leaders across a wide range of industries, including Tim Cook of Apple and Elon Musk of Tesla. Nvidia's Jensen Huang was a...

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