Business news

Business news • May 08

Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high

Cloudflare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't need as many support roles.

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Business news • May 08

US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April

America's employers delivered a surprising 115000 new jobs last month despite an economic shock from the Iran war.

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Business news • May 08

Porsche shutters e-bike, battery, software subsidiaries as part of company overhaul

Porsche is closing three of its subsidiaries as it copes with falling sales and declining profits, the German automaker announced Friday.

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Business news • May 08

Tesla’s Latest Recall? Wheels May Fall Off Cybertrucks

In what is the 11th Cybertruck recall, certain models of Elon Musk's embattled pickup could experience a sudden, unexpected wheel separation, thanks to the...

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Business news • May 08

What's the required minimum distribution from a $300,000 retirement account?

Have $300000 saved in a retirement account? Here are the required minimum distributions you'll be expected to take.

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Business news • May 08

Jane Street earned $10bn in first quarter as it doubled trading revenue

Proprietary trading firm Jane Street earned more than $10bn on record trading revenue in the first quarter, beating traditional rivals including JPMorgan...

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Business news • May 08

Oregon data centers must pay more for electricity, state regulators rule

The Oregon Public Utility Commission approved a major overhaul of how Portland General Electric charges data centers for power Thursday, mandating that the...

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Business news • May 08

Anthropic Inks $1.8 Billion Computing Deal With Akamai (AKAM)

Anthropic PBC has signed a $1.8 billion computing deal with cloud services provider Akamai Technologies Inc. to meet surging demand for its artificial...

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Business news • May 08

The Federal Reserve is quickly running out of reasons to cut interest rates

If the Federal Reserve still has any reasons to cut interest rates in the near future, they're getting harder and harder to find.

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Business news • May 08

PG&E failed to act on substation damage before crippling December blackout

Utility giant Pacific Gas & Electric on Friday released a long-awaited investigation into the December blackout that left 120,000 San Francisco residents...

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Business news • May 08

Trump’s crackdown on China-linked solar firms stalls U.S. factory boom

By Nichola Groom May 8 (Reuters) - Top solar companies, banks and insurers have stopped doing business with at least a half dozen recently built U.S. panel...

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Business news • May 08

After months of war with Iran, people across the US say they're feeling the strain of high gas prices

The monthslong war in Iran is inflicting economic pain across the country as many Americans report struggling with higher costs, particularly the record...

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Business news • May 08

The CEO of Maersk, which ships 14% of everything you buy, said the Iran war is adding $500 million in monthly costs it’s trying not to pass down

As some of these costs made their way all the way up to the end consumer, will we see demand destruction at the consumer level?” CEO Vincent Clerc asked.

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Business news • May 08

Apple agrees to $250M settlement over claims it overhyped iPhone AI features

Apple agreed to a proposed $250 million class action settlement resolving claims it falsely advertised artificial intelligence features for certain iPhone...

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Business news • May 08

The Northeast is set for a star turn in the affordability debate

State policymakers appear unprepared for a potential increase in power bills driven by a doubling of emissions credit prices as Virginia gears up to rejoin...

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Business news • May 08

“12 Commandments of EVDC” Give Ford Stock (NYSE:F) a Boost

Recently, legacy automaker Ford ($F) took some around for a tour of its “skunk works” operation in Long Beach, California. The electric vehicle development...

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Business news • May 08

‘The risk of $5 gasoline can no longer be dismissed’

JPMorgan's energy analysts have published another interesting note today, looking at the disconnect between crude oil prices — high, volatile but remarkably...

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Business news • May 08

'Bond King' Jeff Gundlach says no rate cuts are coming and investors should load up on cash, gold, and real assets

Jeffrey Gundlach predicted the Fed won't lower rates this year and warned investors that stock market valuations looked "very, very high."

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Business news • May 08

When Spirit folded, this tiny airport suddenly had zero flights

Arnold Palmer Regional Airport in rural western Pennsylvania had only one commercial carrier. Spirit Airlines' closure has left it scrambling to find a...

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Business news • May 08

She had four kids with Elon Musk. Now she’s central to his courtroom fight.

In hours of testimony, Elon Musk's partner Shivon Zilis opened up about their relationship and her role in creating one of the world's most valuable AI...

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