Business News
More than three years after acquiring Twitter, Elon Musk states he is approaching his long-held ambition of transforming it into a “everything app” with a new financial services tool that he has promised to unveil for the public this month.
Luxury Giants Hit Hard as West Asia Demand Dips
Seven weeks of conflict in the Middle East are dampening demand in the luxury sector, as LVMH, Kering, and Hermès all report disappointing first-quarter sales. Shoppers in the Middle East are among the world’s most significant consumers, indulging in retail
Elon Musk Withdraws Fraud Claims Against OpenAI
Elon Musk has withdrawn his fraud allegations against OpenAI and its co-founders, Sam Altman and Greg Brockman, thereby refining the focus of his lawsuit against these business competitors just prior to the commencement of the trial. On Friday, US District
Hyundai Motor of South Korea issued a cautionary note on Thursday regarding increasing business uncertainty stemming from the conflict in West Asia, following a reported 31 percent decline in operating profit for the first quarter. The automaker’s cautious outlook follows
Meta Platforms Inc. and Microsoft Corp. are contemplating reductions or disclosing buyouts that may impact up to 23,000 positions, as part of a strategy to optimize operations and mitigate substantial expenditures on artificial intelligence. Meta informed its staff in an
The state of New York is taking legal action against Coinbase and Gemini, alleging that their prediction market platforms operate without regulation and licensing, which the state argues constitutes illegal gambling activities. Attorney General Letitia James has initiated a lawsuit,
Tim Cook Steps Down as Apple CEO
Apple Inc. Chief Executive Officer Tim Cook will pass the leadership to hardware chief John Ternus later this year, concluding a 15-year period that transformed the company into a $4 trillion enterprise encompassing watches, video streaming, and financial services. Ternus
Amazon.com Inc.’s $11.6 billion deal to acquire Globalstar Inc. intensifies the competition with Elon Musk’s Starlink in the satellite communications sector, a market anticipated to double to $200 billion in the near future. On Tuesday, Amazon revealed its intentions to
Meta Set to Outpace Google in Digital Ad Revenue
According to reports, Meta Platforms is expected to exceed Alphabet’s Google in global digital advertising revenue by the end of 2026, effectively dethroning the search-engine giant in this profitable sector. The global net ad revenues for the owner of Instagram
Amazon.com Inc. is reportedly in advanced discussions to acquire satellite operator Globalstar Inc. in a move that would enhance the tech giant’s ambitions to establish its own satellite operation, according to sources. A transaction could be announced as soon as