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Major US banks reported unexpectedly strong second-quarter profits, exceeding analysts' forecasts by a significant margin. Profits surged over 20% year-on-year, reaching approximately $39 billion collectively for the six…
Meta CEO Mark Zuckerberg and other executives settled a shareholder lawsuit for $8 billion. The suit alleged they caused billions in fines and legal costs by violating Facebook users' privacy, stemming from incidents lik…
Samsung is aggressively promoting its new Galaxy Z Fold7 with numerous pre-order deals totaling over $960. These include discounts for email subscribers, PayPal users, and those trading in tablets, plus free Galaxy Buds …
AMD stock surged over 9% this week, fueled by optimism surrounding the potential resumption of MI308 chip exports to China. The US Commerce Department's review of export license applications prompted the rally. AMD's sto…
South Korea's Supreme Court has definitively cleared Samsung's de facto head, Lee Jae-yong, of all fraud charges related to a 2015 merger. This concludes a years-long legal battle stemming from accusations of stock and a…
Transportation Secretary Sean Duffy revealed a $31.5 billion price tag for a new national air traffic control system, requiring additional congressional funding beyond the initial $12.5 billion. The project, aiming for c…
Scale AI, a leading AI data labeling company, announced layoffs affecting 14% of its workforce (around 200 employees) and 500 contractors. This restructuring, following Meta's recent multi-billion dollar investment and a…
US stocks experienced volatility Wednesday following reports that President Trump might fire Federal Reserve Chairman Jerome Powell. Initially, the S&P 500 dropped but later rebounded after Trump denied the reports, alth…
Pop Mart, a Chinese toy company, anticipates a 350% profit increase in the first half of 2024, driven by the immense popularity of its Labubu plush toy. Labubu, a toothy monster designed by Kasing Lung, has become a vira…
Bank of America reported mixed Q2 results, exceeding earnings expectations at 89 cents per share but missing revenue projections at $26.61 billion. Profit rose 3% year-over-year to $7.12 billion, driven by increased net …
A Teamsters strike against Republic Services, one of western Washington's largest waste haulers, is causing trash collection delays in King and Snohomish counties. Over 2,000 Republic Services workers nationwide are stri…
The Port of Los Angeles reported its busiest June ever, handling 892,000 container units, an 8% increase year-over-year. This surge, however, is attributed to businesses stockpiling goods ahead of potential new tariffs, …
MP Materials, the sole American rare earths mine operator, secured a $500 million deal with Apple to supply magnets for iPhones and other tech products. This follows a $400 million investment from the US Department of De…
The S&P 500 dipped 0.4% due to rising inflation, as shown in the latest CPI report. State Street (-7.3%) and BlackRock (-5.9%) fell short of earnings expectations. Conversely, Nvidia surged 4% to a record high after anno…
The Fyre Festival brand, infamous for its disastrous 2017 event, was sold on eBay for a mere $245,300. The online auction, which attracted 42 bidders and 175 bids, concluded Tuesday. Despite the low sale price and the fe…
Bitcoin surged past $123,000 on Monday, fueled by institutional investment and ETF inflows. MicroStrategy purchased $472.5 million worth of Bitcoin, adding to its holdings. Spot Bitcoin ETFs saw over $1 billion in inflow…
Starbucks is mandating a four-day workweek in the office for corporate employees starting October, offering a severance package for those who decline. CEO Brian Niccol cited the need for improved human connection and a t…
General Motors and LG Energy Solution's Ultium Cells are upgrading their Spring Hill, Tennessee facility to produce cheaper lithium iron phosphate (LFP) battery cells for electric vehicles. These LFP cells, expected to b…
Zohran Mamdani's Democratic primary win for New York City mayor has sparked concern among affluent residents and real estate professionals. High-end buyers are pausing purchases, and some wealthy New Yorkers are consider…
Kenvue Inc., the consumer health company spun off from Johnson & Johnson, announced the resignation of its CEO, Thibaut Mongon. Kirk Perry, former Procter & Gamble executive, will serve as interim CEO. This follows the r…
Jams, a new premium peanut butter and jelly sandwich brand founded by Connor Blakley, is launching exclusively at 3,000 Walmart stores. Backed by athletes like Alex Morgan and C.J. Stroud, Jams differentiates itself from…
US equity futures fell sharply Monday morning, with the S&P 500 and Nasdaq 100 futures each dropping 0.55%, and Dow futures down 226 points. This decline follows President Trump's announcement of 30% tariffs on the EU an…
Tesla CEO Elon Musk plans to survey shareholders on whether the electric vehicle maker should invest in his AI company, xAI. This follows a Wall Street Journal report suggesting SpaceX might contribute $2 billion to xAI,…
OpenAI, recently valued at $300 billion after securing $40 billion in funding, is facing intense competition from tech giants like Meta, Google, Amazon, and Microsoft. Rival chatbot makers are also increasing pressure. O…
President Trump's announcement of a 30% tariff on EU and Mexican goods, effective August 1st, will test the resilience of financial markets. Markets have shown a surprising lack of reaction to previous tariff threats, a …