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Sam Altman and Elon Musk's feud escalated from personal attacks to a business war. Musk, founder of xAI, accuses Altman, CEO of OpenAI, of various wrongdoings, leading to lawsuits. Altman, meanwhile, is strategically bui…
The number of family offices investing in private markets has exploded, increasing 524% since 2016 to 4,067, exceeding growth in wealth management firms and endowments. This surge, fueled by increasing wealth among the u…
Warren Buffett's Berkshire Hathaway invested $1.6 billion in UnitedHealth Group stock last quarter, acquiring over 5 million shares. This significant move, made close to Buffett's retirement, caused UnitedHealth's stock …
Wall Street experienced mixed results Thursday. Despite a disappointing inflation report showing a 3.3% rise in wholesale prices (exceeding economists' 2.5% prediction), the S&P 500 edged up to a new high, boosted by gai…
Tapestry, the parent company of Coach and Kate Spade, saw its stock plummet after announcing that tariffs will reduce its fiscal year 2026 profits by $160 million, despite strong sales growth. The company projects earnin…
US stock markets experienced a slight downturn today, with the S&P 500 and Nasdaq showing minimal gains, while the Dow fell by 140 points. The weak market breadth, indicated by only 100 S&P 500 stocks closing higher and …
Target and Ulta Beauty announced the termination of their shop-in-shop partnership, ending in August 2026. Over 600 Ulta shops within Target stores will close. Target's stock fell following the announcement, reflecting c…
The Powerball jackpot soared to $565 million, the year's largest, after Wednesday's drawing yielded no winner. The lucky winner, if any, will receive either a $565 million annuity or a $258.8 million lump sum. However, a…
The Monterey Car Week auctions, a major event for classic car collectors, saw a decline in sales this year. Total sales are projected between $367 million and $409 million, down from $471 million in 2022. The high-end ma…
German arms manufacturer Renk, which supplies Israel's military, is considering moving production to the US due to a German arms embargo on Israel following its Gaza offensive. The embargo, announced after Israel's plan …
The yen surged to its highest point in nearly two weeks following comments from US Treasury Secretary Scott Bessent. Bessent predicted that Japan would increase interest rates to combat inflation, prompting the yen's ris…
Paramount's new leadership, under CEO David Ellison and president Jeff Shell, emphasized the importance of theatrical releases over streaming-first strategies. Shell, previously at NBCUniversal, is known for negotiating …
David Ellison, majority shareholder of the newly formed Paramount Global, following a Skydance Corporation takeover, assures a long-term value creation strategy. He addressed concerns about the company's political neutra…
New York Attorney General Letitia James is suing the banks behind the Zelle payment app, alleging it enabled over $1 billion in fraud between 2017 and 2023. The lawsuit claims Zelle's design lacked crucial security featu…
The US faces a critical shortage of 3,000 air traffic controllers, causing summer travel delays. The FAA's Oklahoma City training facility, the sole training location, has a 35% dropout rate. To combat this, the FAA is i…
Fast-casual restaurant chains like Cava, Chipotle, and Sweetgreen experienced a significant sales slump in the second quarter of 2025, with Cava's stock plummeting 16% on Wednesday. This downturn is attributed to cautiou…
Amazon expands same-day fresh food delivery to over 1,000 US cities, aiming to boost its grocery market share. This follows successful trials in Phoenix, Orlando, and Kansas City, where repeat purchases doubled among use…
Gildan Activewear is acquiring HanesBrands for $2.2 billion, including debt. This deal gives Gildan access to well-known brands like Hanes and Maidenform. HanesBrands has struggled financially in recent years, with decli…
McDonald's Japan canceled a Pokemon card Happy Meal promotion after resellers bought numerous meals and discarded the food, creating mountains of waste near stores. The company apologized for inadequate preparations, sta…
Cava's stock plummeted over 20% after the company lowered its full-year same-store sales growth forecast to 4-6%, from the previous 6-8%. While second-quarter net income was $18.4 million (16 cents per share), same-store…
Elon Musk's xAI is threatening legal action against Apple, accusing the company of antitrust violations by favoring OpenAI in App Store rankings. Musk claims Apple prevents xAI's Grok and X from achieving top rankings, d…
Apple Cinemas is defending itself against a trademark infringement lawsuit filed by Apple Inc. Apple Cinemas, a movie theater chain operating since 2013, maintains its name predates any confusion and reflects its geograp…
Walmart is selling a new Apple MacBook Air 13" with the M1 chip for $599, a price significantly lower than competitors. This 2020 model, while older, remains capable for everyday tasks like word processing and video stre…
Sinclair Broadcast Group, a major US broadcaster, announced a strategic review of its business, potentially leading to a merger. The company is also exploring a spin-off or split of its ventures unit, including the Tenni…
Facing a potential US EV market collapse, Ford is investing $2 billion in a new strategy inspired by China. This involves a $30,000 midsize electric pickup truck, potentially reviving the Ranchero name, launching in 2027…