Tag: Business
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SpaceX launches debt sale to raise capital, reports $100.8 billion in cash
June 22 : Elon Musk’s SpaceX launched its first-ever notes offering on Monday and said it had about $100.8 billion in cash and cash equivalents as of June 19, days after its blockbuster U.S. stock market IPO.The rockets-to-AI company debuted on the Nasdaq on June 12 after raising $85.7 billion from its initia
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X recovers after outage affects thousands globally, Downdetector shows
Elon Musk’s X was largely back up after thousands of users reported issues with the social media platform globally on Monday (Jun 22), according to Downdetector.com.The outage began around 9am ET (9pm Singapore time), peaking at over 25,000 issues being reported in the US before cooling to about 620 reports,
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US House committee reaches bipartisan agreement on youth social media rules
WASHINGTON, June 22 : The U.S. House Energy and Commerce Committee reached a bipartisan agreement on regulating youth social media use, the committee’s leaders said in a statement on Monday. Republican Committee Chairman Brett Guthrie and top committee Democrat Frank Pallone did not release details about the
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‘Reward for failure’: Investor support for Target chair Brian Cornell falls to lowest level ever
Target chair Brian Cornell built the retailer into a $100 billion-plus giant, but recent struggles and underperformance have fueled investor calls for change.
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Lucid to lay off roughly 18% of U.S. workforce, COO Marc Winterhoff leaves
Lucid Group is cutting its U.S. workforce by 18% as part of a cost-savings plan. It also said COO Marc Winterhoff is departing effective immediately.
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EV maker Lucid to cut about 18% of US workforce, COO Winterhoff exits
June 22 : EV maker Lucid Group said on Monday it would cut about 18 per cent of its U.S. workforce and announced COO Marc Winterhoff had left the company, in a major shake-up aimed at boosting profitability amid growing competition.The layoffs will affect Lucid’s full-time employees, contractors and hourly pr
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Indian fintech firm CRED to raise $900 million from Meta at $4.5 billion valuation
June 22 : Indian fintech firm CRED said on Monday it will raise about $900 million from Meta Platforms at a post-money valuation of $4.5 billion, as it seeks to accelerate growth and prepare for an eventual stock market listing.
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Meta’s WhatsApp to be led by Indian startup founder Kunal Shah
BANGALORE, June 22 – Indian fintech firm CRED’s founder Kunal Shah will become Meta-owned WhatsApp’s new leader, the messaging app’s current head Will Cathcart said on Monday in a post on X. The announcement comes after CRED announced it will raise about $900 million from Meta.
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UPS to invest $48 million in temperature-controlled facilities amid healthcare boom
UPS is announcing a new investment in healthcare logistics as demand for the temperature-controlled category booms, CNBC has learned exclusively.
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Stocks steady, oil falls as Iran peace talks progress
SYDNEY/LONDON, June 22 : European stocks and U.S. futures steadied while oil prices dipped on Monday after mediators said progress had been made in U.S.-Iran peace talks, helping calm fears the fragile process to end the war was breaking down.Meanwhile, the pound and UK bonds rose after Prime Minister Keir St
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