Business news

Business news • Aug 05

Mortgage rates hit their highest level in over a year, causing demand to drop below year-ago levels

Mortgage rates rose to the highest level in over a year, causing total mortgage demand to drop below year-ago levels.

4 0 0

Business news • Aug 05

Oil prices little changed on negotiations to manage ship traffic in Strait of Hormuz

Crude prices were little changed Wednesday on reports that the U.S., Iran and Oman were working on an agreement to manage ship traffic in the Strait of...

4 0 0

Business news • Aug 05

The Dollar Boomerang Threat: Washington’s Motivations to Support the Yen

The joint U.S.-Japan intervention to prop up the yen has as much to do with protecting U.S. Treasury markets as with helping an ally manage currency...

6 0 0

Business news • Aug 05

Electronic Arts completes $55bn acquisition; CEO announces senior leadership changes

Electronic Arts has completed its $55 billion leveraged buyout, with Saudi Arabia's Public Investment Fund (PIF) now the majority owner.

6 0 0

Business news • Aug 05

SpaceX stock falls 13% as AI spending surge rattles investors and massive share unlock looms

CEO Elon Musk said SpaceX would hit $1 trillion in annual revenue in 2030 versus a previous forecast of 2031 as he looked to strike an bullish tone.

4 0 0

Business news • Aug 05

Asia stocks rally as tech rebounds, ASX hits record after Wall Street gains

Investing.com -- Asian stocks advanced on Wednesday as investors embraced risk after Wall Street hit fresh records, with a rally in chipmakers and...

3 0 0

Business news • Aug 05

The value of history and pattern analysis

My son asked me last week why we still have to learn about things that happened a long time ago. We talked about how there are lessons about life and from...

5 0 0

Business news • Aug 05

Why police raided Starbucks Korea’s headquarters

The headquarters of Starbucks Korea was raided by South Korean police on Wednesday, as they continue to investigate the coffee chain that faced a nationwide...

5 0 0

Business news • Aug 05

Oil prices ease and Asian shares gain on hopes for Mideast deal, as companies report strong profits

Asian shares surged and oil prices slipped Wednesday after the U.S. stock market rallied to records, helped by strong corporate earnings reports and hopes...

4 0 0

Business news • Aug 05

Lockup expiry will offer the next test of investor appetite for SpaceX shares

The next test for SpaceX investors following its first earnings report as a public company comes on Thursday, when as many ​as 912 million shares held by...

28 0 0

Business news • Aug 05

Dow Jones Futures Rise; SpaceX, AMD, Arista Lead Earnings Movers After S&P 500 Jumps To High

Dow Jones futures: The Dow and S&P 500 hit new highs while the Nasdaq powered higher again. SpaceX, AMD and Arista led earnings movers late.

18 0 0

Business news • Aug 05

Anthropic and OpenAI models tried to trick humans into poisoning code during safety testing

Leading artificial intelligence models from Anthropic and OpenAI created fake online personas and tried to deceive human coders into abetting a cyberattack...

30 0 0

Business news • Aug 05

What David Ellison Is Really Up to

News analysis: A full-scale blitz is on to show that even Democrats Want Paramount to Buy Warner Bros. But that's not actually true.

19 0 0

Business news • Aug 05

CDC reportedly expands scope of US cyclosporiasis outbreak to 15 states

Six additional states caught up in investigation after Michigan reported first two US deaths linked to disease.

23 0 0

Business news • Aug 05

OpenAI to pay $3.2 million to settle DOJ allegations it favored foreign workers over Americans

OpenAI will pay $3.2 million to settle Justice Department allegations that it discriminated against U.S. workers by favoring foreign visa holders in hiring.

6 0 0

Business news • Aug 05

SpaceX's AI spending unnerves Wall Street despite promises of quick payoff

In addressing Wall Street for the first time since SpaceX's IPO, executives tried to make the case that hefty AI investments are paying off within a year.

4 0 0

Business news • Aug 05

Catch up: SpaceX revenues surge; Qatar says Hormuz talks are progressing

In its first earnings report since going public in June SpaceX reported quarterly revenues of $7.8bn, up 92% year on year and ahead of analysts'...

4 0 0

Business news • Aug 05

Oil extends declines as investors await outcome of US-Iran talks

Oil extended declines on Wednesday after steep falls in the previous two trading sessions, as investors waited ​to see if efforts to end the Iran war and...

3 0 0

Business news • Aug 05

Elon Musk delivers 'totally nuts' plans for moon robots and insists $1 trillion revenue target will hit but capex tanks SpaceX on debut earnings

The rocket-and-AI company posted stronger than expected revenue, but investors choked on the rapidly rising capital expenditures.

3 0 0

Business news • Aug 05

Scoop: Inside Trump's AI framework

The White House is excluding open models from its framework to test advanced AI capabilities, sources familiar with the matter told Axios.

7 0 0