Business news

Business news • May 05

James Murdoch in talks to buy New York Magazine

James Murdoch is in advanced talks to acquire New York Magazine and Vox Media's podcast division, according to people familiar with the matter.

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Business news • May 05

Delta cuts free drinks service: Here are the 10 MSP routes likely affected

Delta is switching up its in-flight service on hundreds of flights.

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Business news • May 05

After Coinbase, prediction market traders forecast more tech layoffs ahead

Traders on prediction market platforms give a high probability to layoffs in the tech sector reaching more than 447000 jobs in 2026.

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Business news • May 05

Guess who might buy New York Magazine.

Plus: An Upper East Side school's silent auction haul, Anonymous Transit Expert returns, and more.

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Business news • May 05

Coinbase didn't just lay off 14% of its staff due to AI. It replaced managers with ‘player-coaches’ and turned its org chart upside down

Coinbase CEO Brian Armstrong is adapting the company for the AI age, cutting 14% of employees and reimagining its org chart to bring the company back to its...

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Business news • May 05

Utz potato chips sold nationwide recalled over salmonella risk

Utz Quality Foods is recalling some of its Zapp's and Dirty brand potato chips because an ingredient may be contaminated by salmonella.

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Business news • May 05

Fuel Prices Have Spiked More in ‘Energy Independent’ US Than in Nations That Have Moved Away From Oil and Gas

Average gas prices in the United States are quickly climbing toward $5 per gallon this week as US President Donald Trump's war with Iran shows little sign...

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Business news • May 05

James Murdoch in talks to buy Vox Media's New York Magazine, podcast unit, WSJ reports

May 5 (Reuters) - James Murdoch is in late-stage talks to buy Vox ​Media's New York Magazine and podcast division, ‌the Wall Street Journal reported on...

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Business news • May 05

Palantir’s stock falls despite upbeat earnings. Here are Wall Street’s quibbles.

Analysts have a few theories about why standout software performer Palantir Technologies is seeing its stock drop despite a strong earnings report.

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Business news • May 05

Pete Buttigieg’s 2024 antitrust win just erased 17,000 jobs and the largest U.S. ultra-low-cost airline

Spirit Airlines flight NK1833 touched down at Dallas-Fort Worth shortly after midnight on May 2, 2026. By 3 a.m., 17000 employees were learning from...

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Business news • May 05

S&P 500 Advances as Hiring Rate Surges to 22-Month High

The S&P 500 (SPX) is trading higher on Tuesday after March's Job Openings and Labor Turnover Survey (JOLTS) showed a hiring rate of 3.5% in the U.S.,...

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Business news • May 05

UnitedHealthcare to cut prior authorization for 30% of services. Here's what to know.

UnitedHealthcare said on Tuesday it is eliminating "prior authorization" requirements for 30% of medical services that previously required insurer approval,...

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Business news • May 05

Hackers steal students’ data during breach at education tech giant Instructure

The data breach at education tech giant Instructure includes students' private data, according to a sample of the allegedly stolen data seen by TechCrunch.

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Business news • May 05

GameStop’s billionaire CEO created Chewy and is seeking to buy eBay for $56 billion

GameStop CEO Ryan Cohen is a billionaire entrepreneur who is known for taking big risks. Yet, his biggest challenge may be his attempt to revive the...

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Business news • May 05

Jim Cramer says two stocks will decide stock market’s next move

These two tech stocks are moving fast, and Cramer says watch them closely.

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Business news • May 05

Tiny teams, no 'pure managers,' and AI: Coinbase's memo has all the classic ingredients of a 2026 layoff letter

"Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," Coinbase CEO Brian Armstrong wrote.

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Business news • May 05

PayPal Q1 2026 earnings beat estimates under new CEO

Revenue rose 7% to $8.35 billion and adjusted EPS climbed 1%, topping Wall Street estimates, but stock fell after the earnings call.

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Business news • May 05

Inside the lab where Ford is trying to crack the code on cheap EVs

Unibodies, zonal architecture, shorter wiring harnesses. Ford is resorting to proven manufacturing techniques to get its EV costs down.

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Business news • May 05

$1.4 Billion AI Startup Blitzy Is Taking On Claude Code and Codex

Backed by $200 million in fresh funding, Blitzy has convinced companies to hand off software development to AI that can build entire systems autonomously,...

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Business news • May 05

'Big Short' investor Michael Burry confirms he's sold GameStop and says he's shorting Palantir

Michael Burry of "The Big Short" fame said he sold GameStop because he dislikes its plan to buy eBay, and has opened an "outright short" on Palantir.

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