Larry Summers leaves OpenAI board after Epstein emails

 

Former US treasury secretary Larry Summers is leaving OpenAI’s board a week after emails detailing his contacts with Jeffrey Epstein were released. Summers said he was grateful to serve and would step back from public commitments, while OpenAI thanked him for his contributions. The House Oversight Committee emails showed communication...

Blue Owl ends fund merger after investor angst

 

Blue Owl scrapped plans to fold its smaller, non-traded Blue Owl Capital Corporation II into the larger, publicly traded Blue Owl Capital Corporation after investor angst and volatility. The proposed deal had frozen redemptions for investors in the $1.7 billion OBDC II and implied about 20% paper losses based on...

Porsche unveils Cayenne Electric with inductive charging

 

Porsche officially unveiled the Cayenne Electric, adding an all-electric option to its Cayenne lineup amid steep recent losses. The SUV arrives in two trims: Cayenne Electric ($111,350) and Cayenne Turbo Electric ($165,350), with up to 850kW, 0-60mph in 2.4 seconds, and 10-80 percent charging in 18 minutes under ideal conditions....

TJX tops estimates as holiday guidance lags

 

TJX Companies said the holiday season is off to a strong start after posting a third quarter that topped forecasts. The discounter behind TJ Maxx, Home Goods and Marshalls reported EPS of $1.28 on $15.12 billion in sales, with comparable sales up 5%, and shares rose more than 2% premarket....

Judge rules Meta not a monopoly

 

Meta averted a breakup after a federal judge ruled the company is not a social networking monopoly, rejecting an FTC case that could have forced a spinoff of Instagram and WhatsApp. U.S. District Judge James Boasberg said prosecutors failed to prove Meta currently holds monopoly power, citing a fast-shifting market...

Honda recalls Accord Hybrid for software flaw

 

Honda is recalling 256,603 Accord Hybrid vehicles from model years 2023 to 2025 after federal regulators flagged a software flaw that can reset while driving and cut power, raising crash risk. The National Highway Traffic Safety Administration posted the notice on Nov. 17. Dealers will reprogram the software at no...

Loan revives Three Mile Island for Microsoft

 

The Energy Department said Tuesday it will provide a $1 billion loan to restart Three Mile Island Unit 1 in Pennsylvania, a project intended to supply power for Microsoft’s data centers. Unit 1 shut in 2019; the site’s other reactor partially melted down in 1979, an accident that long defined...

Lowes raises sales outlook lowers profit guidance

 

Lowe’s reported third quarter results and nudged up full-year sales guidance to $86 billion after closing its Foundation Building Materials deal, while trimming profit expectations amid a tougher economy. Adjusted EPS of $3.06 topped estimates, with revenue at $20.81 billion and comparable sales up 0.4%. Net income fell to $1.62...

China accelerates shift to electric heavy trucks

 

China is pivoting to electric heavy trucks faster than expected, reshaping fuel demand. Battery-powered models reached 22% of new heavy truck sales in early 2025, up from 9.2% a year earlier, with forecasts of 46% this year and 60% next. Prices are falling, incentives sweeten trade-ins, and charging hubs plus...

Judge rejects FTC antitrust case against Meta

 

A federal judge handed Meta a major win, rejecting the FTC’s bid to unwind its Instagram and WhatsApp acquisitions. U.S. District Judge James Boasberg ruled the agency failed to prove Meta holds a social media monopoly, citing a rapidly shifting market where TikTok and YouTube loom large. The FTC said...