Business news

Business news • Jun 11

Meet the SpaceX employees who are set to become multimillionaires thanks to its IPO: from execs to even welders

As markets brace for what could become one of the most consequential public offerings in modern history, Elon Musk's rocket giant SpaceX is preparing to...

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Business news • Jun 11

Musk Confidant Antonio Gracias Set for $68 Billion SpaceX Win

Gracias and his firm Valor Equity Partners are the second-largest SpaceX shareholder.

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Business news • Jun 11

Elon Musk SpaceX

A woman takes a selfie with a large inflatable figure depicting Elon Musk in Times Square in New York on Thursday, June 11, 2026. (AP Photo/Seth Wenig)

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Business news • Jun 11

Musk’s Net Worth Down More Than $50 Billion Ahead Of SpaceX IPO

A monthlong decline in Tesla shares has cut more than $50 billion from CEO Elon Musk's fortune, but the world's richest person is still expected to become a...

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Business news • Jun 11

What Happens If AI Causes 25% Unemployment? Anthropic Has a Concept of a Plan

"Some amount of displacement, though we cannot say how much ... and our responsibility is to prepare for it and respond to it," Anthropic wrote.

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Business news • Jun 11

High US mortgage rates to keep housing market subdued: Reuters poll

High mortgage rates will keep turnover in U.S. residential housing subdued this year and next with very modest price rises, according to property...

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Business news • Jun 11

Anthropic backpedals on Fable safety measure

Anthropic has apologized for stealthily throttling its new AI model, Claude Fable 5, with hidden guardrails that undermine both researchers and rivals using...

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Business news • Jun 11

Big Tech is preventing new stock-market highs as investors change the way they play AI, says this top strategist

Nomura's Charlie McElligott says investors are finally waking up to the problems with a market that is too concentrated on AI leadership.

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Business news • Jun 11

FDA Approves First New Sunscreen Ingredient in Decades

It may soon be safer than ever for people in the US to go out into the sun. That's because your sunscreen could soon be doing a better job of protecting you...

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Business news • Jun 11

Wall Street Poised to Rebound Amid New Iran Tensions

Investors are apparently hopeful that the renewed attacks in Iran will be short-lived, though evidence on the ground about that was shaky.

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Business news • Jun 11

People Living Near xAI’s Dirty Data Centers Are Furious About the SpaceX IPO

SpaceX, Elon Musk's behemoth company that launches rockets and runs data centers, is set to go public Friday with a target valuation above $1.75 trillion.

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Business news • Jun 11

Stocks drop, oil rises as Iran and rate worries dog traders

Fresh worries about the Middle East ceasefire and the prospect of a US interest rate hike hit stocks and oil prices Thursday, following a rollercoaster week...

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Business news • Jun 11

Prices are soaring on these everyday grocery items, driving up inflation

Americans are paying more particularly for produce and baked goods, among others, driven by the Iran war, tariffs and drought.

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Business news • Jun 11

Opinion | Inflation gets even worse

Wednesday's announcement of 4.2 percent inflation in May, up from 3.8 percent in April, is the worst reading from the Labor Department in three years.

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Business news • Jun 11

Asian shares slip after another sell-off of AI stocks on Wall St, while oil prices rise

Shares are mostly lower in Asia following another sell-off of artificial-intelligence stocks that dragged the U.S. market sharply lower.

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Business news • Jun 11

Shares retreat as techs extend losses, US strikes on Iran lift oil

Asian stocks fell on Thursday, weighed down by a Wall Street selloff after a hotter-than-expected U.S. inflation reading, while renewed U.S. strikes on Iran...

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Business news • Jun 11

Dow surges 900 points after Trump says U.S. will soon sign deal with Iran, oil falls

A rout in chip stocks and ramp-up in Middle East tensions pulled down the major averages on Wednesday.

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Business news • Jun 10

Oracle Reports Higher Profit on Surging Cloud Revenue

Company reports cloud revenue rose 47%, including a 93% increase in cloud-infrastructure revenue.

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Business news • Jun 10

Oracle's AI spending blows past estimates, raising worries over growing debt

June 10 (Reuters) - Oracle (ORCL.N) , opens new tab on Wednesday forecast capital spending plans for fiscal 2027 above Wall Street estimates, as the ‌cloud...

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Business news • Jun 10

Wall Street indexes fall more than 1%, hit by tech, Iran war worries

The major U.S. stock indexes ended more than 1% lower on Wednesday, with chipmaker shares extending recent declines ‌and with renewed tensions between the...

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