Business news

Business news • May 06

‘A watershed moment’: A pancreatic cancer drug is set to transform treatment

Patients — and their doctors — have been desperate for a more effective pancreatic cancer treatment for decades. Now one appears to be within reach.

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Business news • May 06

In OpenAI trial, former technology chief says Altman sowed 'chaos,' distrust among top executives

SAN FRANCISCO, May 6 (Reuters) - A former OpenAI technology chief testified on Wednesday ‌in Elon Musk's lawsuit that CEO Sam Altman sowed distrust among...

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Business news • May 06

Insurance startup Corgi hits $1.3B valuation 4 months after its Series A

Corgi announced on Wednesday a $160 million Series B, led by TCV, valuing the startup at $1.3 billion.

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Business news • May 06

Will Elon Musk win his lawsuit against Sam Altman's OpenAI? Here's what prediction markets think

Elon Musk's odds for winning his multibillion-dollar lawsuit against OpenAI tumbled from 60% when the trial started to as low as 34% following his testimony...

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Business news • May 06

With eBay Bid, GameStop C.E.O. Baffles His Fans and Wall Street

Investors questioned Ryan Cohen's latest gambit after he gave an evasive CNBC interview and a once-loyal supporter sold his GameStop shares.

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Business news • May 06

Oil plunges, markets surge on report U.S. and Iran are near deal to end war as gas prices jump past $4.50

The price of oil plunged and stocks surged after a new report said the U.S. believed it was nearing a deal to end the war with Iran.

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Business news • May 06

AMD stock soars on Q1 earnings beat, better-than-expected outlook amid strong AI chip demand

AMD (AMD) reported its first quarter results after the bell on Tuesday, beating analysts' expectations on the top and bottom lines and topping Wall Street's...

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Business news • May 06

Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal, restructuring costs

Paramount agreed to pay a Netflix termination fee, but the cost lives on WBD's books until the close of the deal.

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Business news • May 06

How David Sacks crashed and burned in the White House

The Trump administration pulled a 180 on AI oversight, inducing Sacks' worst nightmare: more government regulation on technology.

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Business news • May 06

Anthropic’s Deal With SpaceX Exposes a Potential Problem for Elon Musk’s xAI

The partnership with SpaceX gives Anthropic access to more than 300 megawatts of capacity at SpaceX's Colossus 1 data center.

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Business news • May 06

WBD Sees $2.9 Billion Q1 Loss On M&A Charges Including Termination Fee Paramount Paid Netflix

Warner Bros. Discovery posted a $2.9 billion Q1 loss that will likely be a one-time accounting blip, it hopes. It includes the termination fee Netflix paid...

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Business news • May 06

Warner Bros. Discovery Lost $2.9 Billion in March Quarter — But That’s Mostly the Netflix Breakup Fee

Warner Bros. Discovery lost $2.9 billion in the first quarter. But there's an explanation for that.

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Business news • May 06

Warner Bros. Discovery Saw Q1 Streaming, Studios Boosts, But Paramount Deal Spurs Large Loss

Warner Bros. Discovery's deal to be acquired by Paramount Skydance is supposed to create a behemoth of a company that includes everything from the CBS...

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Business news • May 06

Elite M&A Lawyers Fed Massive Insider-Trading Ring, US Says

Lawyers from top mergers and acquisitions firms provided tips on some of the biggest deals of the last decade to an insider trading ring that made tens of...

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Business news • May 06

How you can get a slice of Apple's $250M iPhone settlement

Apple agreed to a $250M settlement over claims it misled buyers about AI-powered Siri features on certain iPhones. Eligible users could receive up to $95.

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Business news • May 06

Higher Gas Prices Are Hitting Lower-Income Americans the Hardest

Surging gas prices are inflaming a longstanding economic divide in America, as households with lower incomes struggle to pay more at the pump at a moment...

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Business news • May 06

A major union warns regulators that Elon Musk’s SpaceX IPO ‘defies financial logic’

SpaceX CEO Elon Musk's vision for the company's future, and that of the world, is a major driving force behind its valuation. Photo: Getty Images.

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Business news • May 06

How ‘Premier’ Law Firms Became a Decade-Long Spy Ring

The U.S. Department of Justice said Wednesday that it had charged 30 people allegedly linked with a decade-long insider trading scheme involving...

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Business news • May 06

JPMorgan Offered $1 Million Settlement Before Sexual Assault Claims Went Viral

Chirayu Rana's lawsuit against JPMorgan followed failed settlement talks earlier in the year.

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Business news • May 06

TikTok is pulling back on an AI feature that went haywire

TikTok is pulling back on an AI feature that added wildly inaccurate text summaries to videos from users like Charli D'Amelio and Shakira.

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