Tag: Business
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Jim Cramer questions whether Wednesday’s rally in Big Tech will have staying power
CNBC’s Jim Cramer warned that Wednesday’s rally in tech may have gotten carried away from fundamentals.
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United earnings top estimates but airline expects $6 billion in added fuel costs
United reported higher revenue for premium, corporate and no-frills basic economy tickets and higher revenue for both domestic and international trips.
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Uber nears €12.5bn deal to acquire Delivery Hero, FT reports
July 15 : Uber is set to take over Delivery Hero in a deal valuing the German food delivery company at about €12.5 billion ($14.34 billion), the Financial Times reported on Wednesday.Delivery Hero confirmed it was in advanced negotiations with Uber regarding a potential takeover offer on Tuesday.Here
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Chile’s Rubin Observatory begins decade-long mission to film the universe
CERRO PACHON, CHILE, July 15 : Perched atop a mountain in Chile’s Coquimbo region, where some of the world’s darkest skies stretch over the Andes, a giant observatory has begun filming the infinite to create the first movie of the universe.The Vera C. Rubin Observatory, a joint program of the U.S. Nationa
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Amazon AWS executive and CEO advisor Dave Brown to leave after 19 years
SAN FRANCISCO, July 15 : Amazon veteran Dave Brown, a senior vice president in Amazon Web Services and member of the elite internal group advising CEO Andy Jassy, is leaving the company after 19 years.He is leaving for another job, according to a memo from AWS CEO Matt Garman, who did not provide specifics. H
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Musk’s xAI sues Grok user over sexualized ‘deepfakes’
July 15 : Elon Musk’s artificial-intelligence startup xAI has sued a South Carolina man arrested earlier this year on charges of sexually exploiting minors, alleging he misused the company’s AI system Grok to create child sexual abuse material.xAI alleged in the lawsuit, filed in federal court in Texas on Tue
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Stocks rise after soft US inflation reading with Middle East in focus
NEW YORK/ MILAN, July 15 : MSCI’s global equities index rose on Wednesday after a surprise drop in the U.S. inflation reading and a second day of strong earnings reports while oil futures turned lower even as U.S.-Iran hostilities showed no signs of abating. U.S. producer prices were softer than expected i
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EU accepts action plan by Elon Musk’s X to become more transparent
BRUSSELS, July 15 : The European Union, which fined Elon Musk’s social media network X €120 million ($137.2 million) last year, said on Wednesday it had accepted an action plan by X to comply with transparency rules under the EU’s Digital Services Act.”The European Commission has accepted X’s action plan to
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SpaceX shares slide below IPO price for the first time as blistering rally unravels
July 15 : SpaceX shares dropped below their initial public offering price on Wednesday, a first for the company, just over a month after a frenzy over the rockets-to-AI firm powered the biggest IPO ever and made Elon Musk the world’s first trillionaire.Its shares slid 1.9 per cent to $133.5, falling below the
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Amazon Leo to bring satellite internet to South Africa in 2027
JOHANNESBURG, July 15 : Amazon’s low-earth orbit satellite internet venture Amazon Leo has signed an agreement with South Africa’s Herotel to launch a new broadband service aimed at connecting underserved rural communities, it said on Wednesday.Under the agreement, Herotel, South Africa’s largest fixed intern
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