Business news

Business news • Aug 05

Situational Awareness Returns to Investing With $400 Million Bet

Just days after his hedge fund was on the brink of collapse, Leopold Aschenbrenner has made his return to the investing scene, plunking down $400 million to...

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Business news • Aug 05

Big shake-up in Google’s AI team as DeepMind chief executive steps down

Two senior engineers are leaving company to launch startup amid fears Google is falling behind in AI race.

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Business news • Aug 05

Exclusive / Demis Hassabis was shifting away from DeepMind CEO duties for a year

Google DeepMind CEO Demis Hassabis's departure Wednesday from the top job at the company he founded in 2010 and sold to Google in 2014 was at least a year...

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Business news • Aug 05

SpaceX Plans Starlink Mobile Service to Compete With Verizon, AT&T and T-Mobile

SpaceX shared plans to create a cellular service during its first earnings call after its IPO, reports Reuters. SpaceX president Gwynne Shotwell said the...

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Business news • Aug 05

US refunds $100 billion in tariffs struck down by Supreme Court, filing shows

President Donald Trump's administration has refunded about $100 billion from tariffs that it collected before the U.S. Supreme Court struck down those...

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Business news • Aug 05

X product chief Nikita Bier is leaving after one year

Nikita Bier is stepping down as X's head of product after just over a year in the role.

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Business news • Aug 05

Kalshi loses in court to Utah. Can Utahns still bet on prediction markets?

Will Kalshi and other prediction markets shut down — or be shut down — in Utah after the Beehive State's victory in federal court this week?

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Business news • Aug 05

Meta launches Muse Code, an AI agent for large code bases

Meta expanded its AI coding offerings with a new agent that, it promises, can handle complex tasks with complex software.

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Business news • Aug 05

US stocks hold near records on hopes of an agreement with Iran

Stocks held close to their records on Wall Street, while oil prices were relatively steady. The S&P 500 slipped 0.2% Wednesday from the all-time high it set...

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Business news • Aug 05

Sandisk Earnings Soar, but the Stock Is Still Dropping

Sandisk stock was falling late Wednesday after a disappointing outlook from the memory maker seemed to overshadow strong fourth-quarter results.

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Business news • Aug 05

Takeda’s narcolepsy drug approved by the FDA, seen as a boon for new class of treatments

The Food and Drug Administration on Wednesday approved a novel type of treatment for narcolepsy made by Takeda, backing a drug class that scientists hope...

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Business news • Aug 05

China’s A.I. Is Surging Across Africa. That Should Worry Silicon Valley.

In African tech hubs, developers are picking China's cheap, freely available artificial intelligence models over more powerful U.S. ones.

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Business news • Aug 05

Fed Governor Cook says she's 'prepared to act' on rate hike to address inflation

Cook was part of a 9-3 majority that voted last week to keep the central bank's benchmark borrowing rate in a range between 3.5%-3.75%.

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Business news • Aug 05

SpaceX Stock Drops on Ballooning AI Bill

Plus, Google reshuffles AI leadership and Shake Shack draws an activist investor.

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Business news • Aug 05

Dutch Bros. files to buy Salad And Go locations in Arizona, other areas

TEMPE, AZ — Popular Arizona coffee chain Dutch Bros has filed paperwork to buy Salad and Go locations as part of a $105 million deal.

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Business news • Aug 05

3 things to look out for on Thursday

Wall Street's major averages closed mixed on Wednesday after softer-than-expected labor data landed. The benchmark S&P 500 (SP500) finished the session down...

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Business news • Aug 05

As FDA approves new marketing for nicotine pouches, some doctors sound alarms

One health advocate called nicotine pouches a "profound risk" for young people.

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Business news • Aug 05

Gold makes the largest single-day advance in five months as bulls regain control

Gold surged today, clearing resistance at $4200 and its 50-day moving average at $4249 to reach an intraday high of $4328.20. At the time of writing,...

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Business news • Aug 05

Investors have fresh doubts about Elon Musk’s grandiose ambitions

ON AUGUST 5TH SpaceX may have at last achieved Elon Musk's goal of reaching the Moon—by accident. The upper stage of a Falcon 9 rocket, which had been...

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Business news • Aug 05

Investors are having doubts about Elon Musk’s grandiose ambitions

ON AUGUST 5TH SpaceX may have at last achieved Elon Musk's goal of reaching the Moon—by accident. The upper stage of a Falcon 9 rocket, which had been...

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