Business news

Business news • May 19

LIRR, MTA reach contract agreement to end transit strike, Gov. Hochul announces

Governor Kathy Hochul announced on social media that the MTA and LIRR unions have reached a deal and LIRR service will resume beginning Tuesday at noo.

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Business news • May 19

MTA and LIRR unions reach a deal, governor says

According to the governor, “phased” LIRR service will resume Tuesday at noon.

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Business news • May 19

Shinsegae chairman apologizes over Starbucks Korea ‘Tank Day' controversy

Chung Yong-jin, chairman of Shinsegae Group, issued a public apology Tuesday over the controversial “Tank Day” promotion held by Starbucks Korea on Monday,...

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Business news • May 19

Exclusive | Google and Blackstone to Create New AI Cloud Company

Investment firm to put $5 billion toward venture using Google's chips.

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Business news • May 18

SpaceX IPO set to hand $20bn stake to one hedge fund

Hedge fund D1 Capital Partners is expected to be among the biggest winners next month from SpaceX's public listing, one of a handful of firms on Wall Street...

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Business news • May 18

Dow Jones Futures: Trump Iran Delay Saves Dow, But Sandisk, Bloom Energy, AI Leaders Sell Off

Dow Jones futures: President Trump said he delayed a planned attack on Iran, lifting the Dow, but Sandisk, Bloom Energy led an AI sell-off.

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Business news • May 18

Meta Moves 7,000 Workers Into AI Roles Ahead of Job Cuts

Meta Platforms Inc. is reassigning 7000 workers to new jobs related to artificial intelligence, according to an internal memo, part of a broad corporate...

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Business news • May 18

Nasdaq leads equity losses with oil, borrowing costs in focus

The Nasdaq and the benchmark S&P 500 closed lower on Monday as investors took some profits in technology stocks while surging Treasury yields and high oil...

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Business news • May 18

Exclusive: Meta lays out details of May 20 restructuring in internal document

Meta detailed its layoff plans for this ​week in a memo shared with employees on Monday, saying cuts to its workforce globally would be accompanied by ‌a...

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Business news • May 18

Oil Slips as Trump Spurs Optimism Over Iran Deal: Markets Wrap

Technology stocks led losses in Asian equity markets as higher bond yields around the world put a question mark on valuations after a record-breaking rally...

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Business news • May 18

Why you should care about 2 power companies merging. Hint: affordability

NextEra Energy plans to acquire Dominion Energy to create the largest electricity producer in the United States.

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Business news • May 18

OSHA probing worker death at SpaceX’s Starbase site

A worker died at SpaceX's Starbase launch site in South Texas on Friday, and the Occupational Safety and Health Administration (OSHA) has opened an...

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Business news • May 18

Micron Stock Drops as Samsung Strike Spikes Fears Over Memory-Chip Shortage

Micron stock closed lower despite the prospect of disruption at rival Samsung Electronics.

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Business news • May 18

Meta Reassigns 7,000 Employees to Focus on A.I.

Meta told employees on Monday that it was reassigning 7,000 workers to focus on new initiatives around artificial intelligence, the latest change in a...

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Business news • May 18

Swamped by data center demands, Dominion Energy just opted for a megamerger

NextEra Energy plans to buy the Virginia-based power company, creating the world's largest regulated utility, as the U.S. races to keep up with AI power...

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Business news • May 18

Oil prices keep swinging, and so do stocks worldwide

Oil prices and stock markets worldwide swung with uncertainty about what will happen with the Iran war.

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Business news • May 18

Federal Prosecutors Move to Drop Bribery Case Against Indian Magnate

Federal prosecutors in Brooklyn on Monday asked a judge to drop bribery-related charges against the Indian tycoon Gautam Adani, a decision with domestic and...

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Business news • May 18

Here's what Meta just told staff about the coming layoffs

Meta is slated to cut 10% of its staff this week. On Monday, its HR chief Janelle Gale gave staff a better idea of what to expect.

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Business news • May 18

Meta employees told to work remotely Wednesday as company prepares to slash 10% of workforce: report

Mark Zuckerberg's Meta has reportedly told its North American employees to work from home Wednesday – when it will lay off 10% of its global workforce as...

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Business news • May 18

Deal reached to end Long Island Rail Road strike, Gov. Kathy Hochul says

After a manic Monday for thousands of Long Island Rail Road riders trying to get in and out of New York City, things should start to get back to normal on...

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