TAG · Economy
Nippon Steel plans to invest $2 billion to $2.5 billion over three years to replace the 88-year-old hot-strip mill at U.S. Steel's Mon Valley Works near Pittsburgh, a project that company executives said will keep the aging plant operating…
4 MIN READNvidia has ranked No. 1 in The Wall Street Journal's inaugural Best Companies for the Future list, a ranking that evaluates S&P 500 companies on AI readiness, innovation, talent readiness, financial fitness, resilience, and agility. The…
3 MIN READRaj Bhakta, a former contestant on NBC's "The Apprentice," is giving away the Green Mountain College campus in Poultney, Vermont, after abandoning plans for a resort development. Bhakta, who bought the 115-acre property in 2020 for less…
4 MIN READBillionaire father-and-son hoteliers Robert and Blake Rowling are waging a takeover fight for the Greenbrier, the historic West Virginia resort owned by U.S. Sen. Jim Justice. The Rowlings, who own Omni Hotels & Resorts, paid $289 million…
5 MIN READAs SpaceX prepares for its initial public offering this month, investors are looking beyond Elon Musk's company to other space economy players. Rocket Lab, a Nasdaq-listed launch provider, has emerged as a leading contender with a growing…
3 MIN READThe Securities and Exchange Commission last week proposed withdrawing a 2024 regulation that would have required publicly traded companies to disclose greenhouse gas emissions and climate-related business risks, beginning the final stage…
3 MIN READThe Guardian, a British national daily, launched a callout Thursday asking Americans to share their experiences with difficult consumer situations, from faulty products and refund issues to unresponsive customer service.
3 MIN READShake Shack scaled back its second-quarter financial guidance on Tuesday, projecting revenue of $415 million to $420 million and same-store sales growth of 2.5% to 3%, as Chief Executive Rob Lynch cited macroeconomic uncertainty and a…
3 MIN READSignet Jewelers, the owner of Kay, Zales, and Jared, reported higher first-quarter sales and lifted the low end of its full-year outlook Tuesday, as adjusted earnings topped analyst estimates. The company also announced a $50 million stock…
3 MIN READBritish American Tobacco on Tuesday reduced its forecast for global cigarette industry sales volumes this year, projecting a steeper decline of about 2.5%, but raised its growth expectations for new categories such as vapes and nicotine…
3 MIN READStephen Curry has signed an endorsement deal with Chinese sportswear company Li-Ning, the Golden State Warriors guard announced on his business website Thirty Ink. The 38-year-old NBA star is free to partner with a new retail brand after…
3 MIN READMeituan, China's largest food-delivery platform, reported a net loss of 6.83 billion yuan ($1.01 billion) for the first quarter of 2026, marking its third consecutive quarterly loss as a price war with Alibaba Group and JD.com continues to…
3 MIN READU.S. private employers added 122,000 workers in May, ADP reported Wednesday, topping consensus forecasts and marking the strongest month of hiring since President Donald Trump returned to office. The payroll processing firm's monthly…
3 MIN READPrivate-equity firms are turning to a recovering initial public offering market to exit a backlog of nearly 33,000 unsold portfolio companies, betting on the strongest start to a year by total deal value since 2021 to clear a logjam that…
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Hewlett Packard Enterprise accelerated its long-term financial targets by two years after reporting second-quarter revenue of $10.68 billion, a 40% increase driven by surging demand for AI compute infrastructure.
3 MIN READCastlelake, a US investment fund that primarily lends to the airline industry, has made a possible takeover approach for easyJet, the British budget carrier said on June 1. EasyJet characterized the approach as "highly opportunistic,"…
3 MIN READBarry Diller's People Inc. offered Monday to acquire the remaining shares of MGM Resorts for $48.30 per share in cash, in a nonbinding proposal that would take the casino operator private and value the company at roughly $12.4 billion.
3 MIN READPeople Inc, the digital media company chaired by Barry Diller, announced Monday it has proposed to acquire the remaining shares of casino operator MGM Resorts International in a deal that values the company at more than $18 billion. The…
3 MIN READJoel Greenblatt's 'Magic Formula,' a simplified stock-picking strategy that once backtested at 31% annualized returns, has underperformed the S&P 500 on a rolling five-year basis since 2016, according to a Stockholm University researcher —…
3 MIN READMarket analysts issued updated ratings and sector assessments for major auto and transport companies on June 1, with investment firms evaluating the potential impact of a Castlelake bid for easyJet, Chinese electric-vehicle chip…
3 MIN READOfcom has launched an investigation into Royal Mail after nearly a quarter of first-class mail failed to arrive on time in the year to March, in the latest regulatory action against the UK's universal postal service.
3 MIN READUS private credit firm Castlelake is weighing a takeover bid for easyJet that would value the European budget airline at about £3bn, the companies said Monday. easyJet rejected the overture as "highly opportunistic," saying its share price…
3 MIN READSingapore-based GLP is planning to raise as much as $3 billion through an initial public offering in Hong Kong, with the listing targeted for the fourth quarter of 2026, according to people familiar with the matter.
3 MIN READSamsung Electronics' market capitalization reached approximately $1.23 trillion based on its latest common-share closing price, and analysts are raising the possibility that the South Korean technology giant could approach a $2 trillion…
3 MIN READSky UK is ending its joint venture with United Arab Emirates-backed IMI over the Sky News Arabia channel, transitioning to a brand licensing arrangement that relinquishes operational control amid growing internal concerns over the…
3 MIN READA UK recruitment executive who repurchased the assets of his collapsed company despite it owing £2.9 million has fallen behind on promised payments to creditors, shortly after his restructured firm announced it would fund an…
3 MIN READMeta legal action forced former Facebook executive Sarah Wynn-Williams to sit silently on stage during an hour-long event at the Hay festival on May 31, 2026, after the company's lawyers warned that speaking could trigger $50,000 fines.
3 MIN READArm's chief executive, Rene Haas, is in line for a compensation package that could exceed $1 billion if the chip designer hits market capitalization milestones stretching to $2 trillion by 2031, according to a filing with the U.S.…
3 MIN READLidl is preparing to open its first-ever pub in Dundonald, east Belfast, a venture that required navigating one of Europe's most restrictive alcohol licensing systems and has renewed debate over whether Northern Ireland's century-old rules…
3 MIN READThe European Union fined Chinese online retailer Temu €200 million ($232 million) on Thursday after an investigation found the platform exposed consumers to illegal and hazardous products, the Associated Press reported.
3 MIN READGraham Platner, the presumptive Democratic nominee for U.S. Senate in Maine, aired a campaign ad on the cable station that broadcasts Boston Red Sox games attacking the team’s ownership over private equity — then saw the ad pulled midway…
3 MIN READMondelez International announced Tuesday that Oreo is releasing BTS‑themed sandwich cookies with purple wafers and a creme filling that tastes like hotteok, a popular Korean street‑food pancake, in over 80 markets worldwide. The…
3 MIN READBP abruptly removed Chairman Albert Manifold on Tuesday, less than a year into his tenure, after the board uncovered what it described as serious governance and conduct issues. The board was “surprised and disappointed” by the matters,…
3 MIN READBP said it has ousted Chairman Albert Manifold after what the oil company described as serious concerns about governance oversight and conduct. The board named Ian Tyler as interim chair effective immediately, and BP said it would search…
3 MIN READThe high-stakes trial between Elon Musk and OpenAI CEO Sam Altman revealed that the two billionaires agreed on a fundamental reality: developing artificial intelligence would require billions of dollars annually — far more than either had…
4 MIN READEstee Lauder has ended merger talks with Puig that would have combined brands including Clinique, Charlotte Tilbury and Jean Paul Gaultier, the company said Friday. Estee Lauder CEO Stéphane de la Faverie said in a prepared statement late…
3 MIN READEverlane said it is being acquired by Shein, the fast-fashion giant founded in China, in a deal announced to employees by Everlane CEO Alfred Chang. Analysts said the acquisition could help Everlane financially as sales slow and debt…
3 MIN READThe federal jury at a trial in Oakland, California, dismissed Elon Musk’s lawsuit against OpenAI after finding it missed a statutory deadline, leaving no verdict on the merits. Testimony during the three-week case, pitting Musk against…
3 MIN READWalmart reported a 7.3% rise in first‑quarter sales to $177.75 billion, driven by brisk in‑store purchases and a 26% surge in online orders. The company, however, cautioned that a volatile economic backdrop — highlighted by soaring…
3 MIN READShein is buying Everlane, the California-based apparel brand known for minimalist basics and a pitch of “ethical factories” and “radical transparency,” NPR reported. Everlane’s CEO Alfred Chang said the deal is meant to open “a bigger…
3 MIN READOhio’s largest tax break for data centers has cost the state far more than forecast, according to new figures shared by the Ohio Department of Taxation. In 2024, the sales tax exemption cost about $554.9 million, the department said; in…
3 MIN READNvidia reported Q1 results that beat Wall Street expectations, driven by demand for its high-end AI chips, and forecast revenue near $91 billion for the current quarter. The company earned $58.32 billion ($2.39 per share) in the…
3 MIN READEstee Lauder and perfume and cosmetics maker Puig have ended merger talks that would have combined brands including Clinique and Jean Paul Gaultier under one owner, the companies said Thursday. The New York-based Estée Lauder Cos. said…
3 MIN READEverlane, the San Francisco-based retailer known for ethically sourced apparel, is being acquired by Shein, the fast-fashion giant founded in China. CEO Alfred Chang confirmed the deal in a letter to employees, according to The Associated…
3 MIN READElon Musk announced plans for SpaceX to raise money by taking the company public, according to a U.S. filing made public this week. The prospectus shows SpaceX is still losing billions of dollars even as it lays out a path tied to…
3 MIN READShein, the Chinese fast-fashion behemoth known for ultra-low prices and rapid turnover of styles, is acquiring Everlane, the San Francisco-based retailer built on promises of ethical sourcing and sustainability, according to a letter from…
3 MIN READEstée Lauder Companies and Spanish fragrance and fashion house Puig have ended merger discussions that would have brought brands including MAC, Clinique, Charlotte Tilbury, and Jean Paul Gaultier under single ownership, Estée Lauder…
3 MIN READSpaceX is set to fly a heavily redesigned Starship on Friday after scrubbing a planned launch at the last minute, as the company prepares for a potential initial public offering. The new rocket will use dozens of new Raptor 3 engines and…
4 MIN READDonald Trump disclosed thousands of stock trades in a report filed with a federal ethics agency, according to the Associated Press. The disclosure includes purchases in companies that could be affected by the administration’s decisions,…
3 MIN READSpaceX filed financial information with regulators as it prepares for a potential initial public offering in mid-June, according to NPR reporting. The documents describe blockbuster spending tied to rockets and to the company’s AI…
3 MIN READMedia scion James Murdoch has agreed to acquire New York magazine and Vox Media’s podcast network and editorial brands, with a deal expected to close within weeks, according to The Associated Press. Under the arrangement, Lupa…
3 MIN READNvidia reported Q1 earnings and revenue that topped Wall Street expectations, citing strong demand for its high-end AI chips. The company earned $58.32 billion, or $2.39 per share, for the February-April period and said it expects…
3 MIN READSpaceX announced plans for what could be one of the biggest initial public offerings ever, as Elon Musk takes the company public despite years of heavy losses. A regulatory filing shows SpaceX lost $2.6 billion from operations last year on…
3 MIN READTarget on Wednesday reported the biggest jump in comparable sales in four years, with customers spending across key categories as the retailer rolls out changes after a new CEO took over in February. The company lifted its annual outlook,…
3 MIN READGoogle announced a new proactive AI assistant, Gemini Spark, and a suite of agentic AI tools at its annual I/O developers conference Tuesday, marking a major push into autonomous AI systems as the company's user base for its existing AI…
3 MIN READA federal jury in Oakland, California, on Monday rejected Elon Musk's claims against OpenAI, ruling that Musk filed his lawsuit too late to challenge the ChatGPT maker's shift from a nonprofit to a for-profit structure. The verdict allows…
4 MIN READHome Depot’s first-quarter profit fell from a year earlier, but the home-improvement retailer beat Wall Street expectations as it saw support from both homeowners stocking up for spring and professional customers. The company said demand…
3 MIN READHome Depot reported a decline in first-quarter profit compared to a year ago, but results still exceeded Wall Street forecasts as purchases by professional contractors and spring buying by homeowners offset pressure from a sluggish housing…
3 MIN READRyanair CEO Michael O'Leary on January 21 dismissed Elon Musk's idea of purchasing the budget airline, brushing off insults as a public feud escalated over whether to install Starlink satellite Wi-Fi on aircraft. O'Leary told an Irish…
4 MIN READSpirit Airlines shut down in early May, and a lawyer for the defunct budget carrier apologized in bankruptcy court to price-conscious passengers who may now struggle to find affordable alternatives. The collapse comes as airlines face…
3 MIN READStarbucks said Friday it will lay off 300 corporate employees and close several U.S. offices as part of its ongoing effort to streamline operations under Chairman and CEO Brian Niccol. The cuts affect support functions such as marketing,…
3 MIN READStarbucks said Friday it will lay off 300 corporate employees in the United States and close some regional offices as part of its ongoing turnaround under CEO Brian Niccol. The company said no coffeehouse employees are affected, and it is…
3 MIN READWalmart and Amazon are pouring billions into faster online-order deliveries for rural U.S. shoppers, a market both retailers once saw as too sparsely populated and remote to serve profitably. The battle has intensified as rising rural…
3 MIN READWalmart and Amazon are expanding fast online delivery in rural parts of the United States as competition intensifies for customers in small towns and remote communities. The push is driven in part by longer travel distances and higher…
3 MIN READBerkshire Hathaway more than tripled its investment in Alphabet and bought more than $2.6 billion worth of Delta Airlines stock as Greg Abel settles into his role as CEO, according to a Securities and Exchange Commission filing. The Omaha,…
3 MIN READBerkshire Hathaway more than tripled its investment in Google parent Alphabet and bought over $2.6 billion in Delta Air Lines stock during the first quarter of 2026, the first portfolio disclosures since Greg Abel succeeded Warren Buffett…
3 MIN READThe U.S. government has agreed to settle a Securities and Exchange Commission lawsuit that accused Indian billionaire Gautam Adani and his nephew, Sagar Adani, of concealing an alleged bribery scheme tied to a major solar project in India,…
3 MIN READPresident Donald Trump traveled to Beijing for meetings with Xi Jinping this week, and a delegation of U.S. technology, aerospace and finance executives joined him aboard Air Force One, the White House said. The group included Tesla and…
3 MIN READNissan Motor Corp. narrowed its annual loss to $3.4 billion for the fiscal year ended March 31, as the Japanese automaker continued to struggle under U.S. tariffs, inflation, and competition from Chinese manufacturers. CEO Ivan Espinosa…
4 MIN READNissan cut its fiscal-year losses but remained in the red as the company cited U.S. tariffs, inflation and intensifying competition, according to its results released Wednesday. CEO Ivan Espinosa said Nissan sees “clear signs” of a…
3 MIN READJapanese technology investor SoftBank Group Corp. reported Wednesday that profit for the fiscal year through March surged nearly fivefold to 5 trillion yen ($32 billion), lifted by massive gains from its AI investments. Sales rose 8% to…
3 MIN READTokyo-based SoftBank Group said Wednesday that annual profit for the fiscal year through March rose to 5 trillion yen, nearly five times the previous year, as its AI investments generated gains.
3 MIN READOnline marketplace eBay on Tuesday rejected an unsolicited $56 billion takeover offer from video game retailer GameStop, calling the proposal "neither credible or attractive" in a letter from its board chairman to GameStop's Ryan Cohen.
3 MIN READAmazon is rapidly expanding its 30-minute delivery service, Amazon Now, to dozens of U.S. cities, the company confirmed Monday. The e-commerce giant, which pioneered two-day shipping with Prime in 2005, now operates small-format…
5 MIN READGameStop’s unsolicited bid to buy eBay was rejected by eBay, which said the proposal is “neither credible or attractive,” according to a letter from eBay Chairman Paul Pressler to GameStop co-founder Ryan Cohen. The companies have been in…
3 MIN READAmazon is preparing to expand its “Amazon Now” service that aims to deliver certain items in 30 minutes or less for an extra fee, the company said. The ultrafast option is already operating in multiple countries and in a number of U.S.…
3 MIN READNearly half of American business economists say the U.S. and Israel’s war against Iran has hurt their operations, including through higher energy prices, according to a survey released Monday by the National Association for Business…
3 MIN READThe Federal Aviation Administration has approved Boeing's proposed repairs for the MD-11 cargo fleet, allowing FedEx to resume flying the aircraft days after the planes were grounded following a fatal crash in Louisville.
3 MIN READA San Francisco startup has placed an AI agent in charge of a Stockholm coffee shop in what it calls a controlled experiment into autonomous business management. The agent, dubbed Mona and powered by Google’s Gemini, oversees everything…
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