Business news

Business news • May 11

Saudi Aramco warns fuel stocks heading for ‘critically low levels’

Saudi Aramco has warned that the world's stocks of gasoline and jet fuel could reach “critically low levels” ahead of the summer months if the Strait of...

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Business news • May 11

CSL slashes revenue projection and takes $5B impairment as interim CEO flags R&D misses, market erosion

CSL has slashed its revenue projection for the fiscal year from $15.8 billion to $15.2 billion and is taking a $5 billion asset impairment.

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Business news • May 11

Microsoft’s CFO admits she joined the tech giant without even knowing her salary—and then missed her first day of work

Amy Hood accepted a Microsoft job in 2002 without knowing her salary. Two decades later, her compensation now tops $29 million.

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Business news • May 11

Michael Burry is not a believer: 'For any stocks going parabolic reduce positions almost entirely'

Michael Burry said investors should "reject greed" as enthusiasm around artificial intelligence and momentum-driven trades pushes valuations sharply higher.

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Business news • May 11

Chocolate company recalls entire product line over salmonella contamination fears

Spring & Mulberry has widened its recall to include all 12 of its product lines.

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Business news • May 11

Elon Musk, Apple's Cook and Boeing CEO going to China with Trump, official says

US and China expected to announce trade forums and major business deals.

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Business news • May 11

'The market has jumped the shark' Michael Burry says as he issues a new warning

Michael Burry warns the stock market rally may be near a turning point as valuations and speculation rise amid Iran diplomacy hopes—get the key risks now.

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Business news • May 11

The American housing market is broken—and 3 years in, it’s starting to look permanent

Sales of previously occupied U.S. homes were essentially flat in April, another lackluster showing for the housing market during what's traditionally its...

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Business news • May 11

'The market has jumped the shark': Michael Burry says stocks may finally be at the precipice of a major reversal

Burry said that history appears to be repeating, pointing to major reversals from peaks in the dot-com boom and during the 1920s.

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Business news • May 11

Amid M&A buzz, Inhibrx's OX40-Keytruda combo shows promise in early look at midphase data

Adding Inhibrx's OX40 agonist to Keytruda doubled the response rate in a midphase clinical trial, encouraging the biotech to advance the program.

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Business news • May 11

OpenAI creates new unit with $4 billion investment to aid corporate AI push

May 11 (Reuters) - OpenAI said on Monday it is setting up a new company with more than $4 billion in initial investment to help organizations ​build and...

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Business news • May 11

Terrifying Footage Shows Frontier Passengers Flee After Jet Strikes Person on Runway

A shocking video has captured the moment Frontier Airlines passengers rushed to evacuate after their aircraft fatally struck a person on the runway.

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Business news • May 11

AI Chipmaker Cerebras Seeks $4.8 Billion in Upsized US IPO

Cerebras Systems Inc. increased the size of its initial public offering, now seeking to raise as much as $4.8 billion, as demand for the artificial...

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Business news • May 11

Walmart, Target and Dollar General Spend Billions to Make Stores Look Nicer

Walmart, Target and Dollar General are among those investing in remodeling thousands of existing stores, even as shoppers take their dollars online.

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Business news • May 11

Senate Banking Committee to vote on Clarity Act crypto bill

The Senate Banking Committee is scheduled to vote this week on the Clarity Act, legislation that would establish a regulatory framework for the...

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Business news • May 11

Amazon to stop selling ‘hooligan bikes’ in California after investigation

Amazon says it will stop allowing the sale of high-speed electric motorbikes in California that exceed the state's legal e-bike limits, marking one of the...

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Business news • May 11

Sony’s failed war against Internet piracy may doom other copyright lawsuits

Sony and other major record labels recently suffered a thorough defeat at the Supreme Court in their attempt to make Internet service providers pay huge...

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Business news • May 11

China’s passenger car exports surge nearly 85% in April as domestic sales slump

China's exports of passenger cars have surged in April, according to an industry group. The China Association of Automobile Manufacturers reported an almost...

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Business news • May 11

Bond Traders Brace for Inflation Data as Fed’s Powell Era Ends

(Bloomberg) -- Investors are awaiting a key US inflation report to gauge how long a Federal Reserve under Kevin Warsh can afford to hold interest rates...

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Business news • May 11

A $400 AI Bet That’s Actually a High-Stakes Wager on the Future of Work

Two prominent economists differ on how quickly artificial intelligence will reshape the US job market.

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