United States-based Cisco Systems said on Wednesday it will cut nearly 4,000 jobs as part of a restructuring plan to shift investment toward artificial intelligence and related growth areas, including silicon, optics and security. The networking equipment maker said the layoffs are part of a broader effort to redirect spending...
Long Island — Negotiators for the Metropolitan Transportation Authority and five Long Island Rail Road unions returned to the bargaining table Friday as a potential strike loomed that could begin early Saturday and disrupt roughly 300,000 daily commuters; unions urged a 5% fourth-year contract raise while the MTA offered 3%...
Las Vegas — Allegiant Air completed its acquisition of Sun Country Airlines this week after receiving regulatory and shareholder approvals, company statements said Wednesday; the deal, first announced in January and valued at about $1.5 billion including debt, left the combined fleet at 195 aircraft with 30 on order and...
United States — On May 14, 2026, multiple Nasdaq-listed companies issued first-quarter 2026 results and corporate updates: Cheetah Net Supply Chain Service Inc. (Irvine) reported a sharp revenue decline and an operating loss for the quarter ended March 31, 2026; Biofrontera Inc. (Woburn) reported revenue growth and materially higher gross...
Washington. The Senate confirmed Kevin Warsh as chair of the Federal Reserve on Wednesday, voting 54-45 to install the former Fed governor when Jerome Powell's term ends later this week. The vote followed a Justice Department decision to move away from its criminal probe into Powell, and several senators cited...
JACKSON, Miss. Governor Tate Reeves canceled a special legislative session this week after the Fifth Circuit Court of Appeals vacated a ruling that had found the state Supreme Court map violated the Voting Rights Act; Reeves said he expects lawmakers to redraw Supreme Court, legislative, and congressional districts by 2027. Voting-rights...
United States regulators are scrutinizing tokenized “PreStocks” tied to private equity in Anthropic and OpenAI after the instruments sharply fell in value following a series of unauthorized equity transfer warnings. The tokens, which trade on the Solana blockchain, are designed to give retail investors exposure to privately held, high‑valuation AI...
United States financial markets are flashing prominent valuation warnings as the S&P 500 Shiller CAPE ratio climbs to 40, a level previously reached only in the late 1920s before the Great Depression and in 2000 ahead of the dot‑com bust. The measure, which compares current S&P 500 prices to a...
Houston. Nauticus Robotics announced an earnings conference call for the quarter ended March 31, 2026, scheduled for May 19, 2026 at 9:00 a.m. Central Time; registration and a listen-only webcast link were provided in the May 12 PRNewswire release. Reno's Dragonfly Energy launched a redesigned Battle Born e-commerce site on...
OAKLAND, California: Sam Altman took the witness stand Tuesday in a federal trial in Oakland to defend his leadership of OpenAI against a lawsuit filed by co-founder Elon Musk seeking Altman's removal. Altman testified about concerns over Musk's attempts to gain control as OpenAI transitioned from a nonprofit to a...
