Business news

Business news • Apr 30

In Musk v. Altman case, judge warns lawyers that AI itself isn't on trial

The third day of Elon Musk's testimony in his high-stakes trial against OpenAI began with a bout of bickering over whether AI could lead to the “extinction”...

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Business news • Apr 30

Meta just told staff it isn't ruling out further layoffs

Meta may cut more jobs beyond its planned 10% layoffs, HR chief Janelle Gale told staff, saying that morale has been hit.

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Business news • Apr 30

Behind Powell’s High-Stakes Decision to Stay at the Fed

Jerome H. Powell will remain a governor at the Federal Reserve after his term as chair ends, in a bid to guard against a further incursion by the Trump...

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Business news • Apr 30

You (Probably) Won’t Get a Tariff Refund

The good, the bad, and the ugly of the refund process. - Start a free trial today for full access.

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Business news • Apr 30

Japan steps into FX market for first time in two years to boost yen, sources say

Japan intervened to prop up the yen against the U.S. dollar on Thursday, its first official currency action ​in nearly two years, two sources familiar with...

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Business news • Apr 30

Elon Musk’s courtroom showdown with Sam Altman started this week. The biggest takeaways so far

Elon Musk spent the better part of three days on the stand, accusing OpenAI and its executives of deceiving him into donating money to help found what is...

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Business news • Apr 30

Will gas prices drop this year? Here's what experts are saying

As many are feeling the toll at the pump, here's what experts are saying about the immediate future of gas prices in the United States.

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Business news • Apr 30

"Magnificent Seven" Companies Microsoft, Amazon, Alphabet, and Meta Just Reported Earnings. Here Are the Winners and Losers

Four "Magnificent Seven" companies reported earnings after the market closed on April 29, resulting in a busy night and day, as investors parsed through the...

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Business news • Apr 30

New Wave of Lawsuits Hits OpenAI After Canada School Massacre

Lawsuits against OpenAI, the artificial intelligence (AI) company behind ChatGPT, are growing in number. On April 29, families of victims in Canada's...

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Business news • Apr 30

More popular restaurants close as situation worsens for Birmingham’s Pihakis Group

Three Birmingham eateries in the Pihakis Restaurant Group stable were closed Thursday morning, while another appears to be under new management.

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Business news • Apr 30

In real-world test, an AI model did better than ER doctors at diagnosing patients

Researchers evaluated how well an AI model could diagnose and make decisions about patient care.

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Business news • Apr 30

Consumer spending on gas, energy goods jumped $81.3B in March, report says

As the war in Iran stretches on, American pocketbooks are continuing to strain under elevated gas and energy prices. On Thursday, the national average price...

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Business news • Apr 30

Elon Musk Seemingly Admits xAI Has Used OpenAI’s Models to Train Its Own

While testifying on Thursday in federal court, Elon Musk seemed to indicate that his AI lab may have used OpenAI's models to train xAI's own.

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Business news • Apr 30

How Trump’s crusade against Jerome Powell backfired

One of the biggest questions about President Donald Trump's retribution crusade is how much of it is driven by strategy — i.e. making cautionary tales out...

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Business news • Apr 30

Pricey NFL, NBA ownership stakes are pushing investors to smaller leagues and driving valuations higher

Priced out of the NBA and NFL, investors are asking bankers about opportunities to buy minority stakes in teams with lower valuations.

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Business news • Apr 30

The U.A.E.’s OPEC Bombshell Signals a New Middle East Order

The United Arab Emirates' decision to withdraw from OPEC did more than deliver a shock to the cartel that has long ruled the global oil market.

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Business news • Apr 30

Meta Stock Loses $175 Billion After AI Expense Estimate Shakes Shareholders

Meta stock fell 10% after a $145B AI capex outlook erased $175 billion in market value, prompting a JPMorgan downgrade.

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Business news • Apr 30

Apple revenue guidance tops estimates on booming iPhone, Mac demand

Apple reported 17% revenue growth, topping estimates, even as iPhone sales came up short.

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Business news • Apr 30

Elon Musk likes Bitcoin—but he just told a jury most crypto coins are scams

Elon Musk's relationship with Sam Altman and OpenAI has famously soured. In testimony during his lawsuit against the artificial intelligence giant,...

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Business news • Apr 30

Key inflation gauge jumps to highest level in 3 years as Iran war spikes gas prices

A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest...

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