Companies

Shein Shares Fall Again in Hong Kong, Handing Backers 73% Valuation Drop

Shein shares slid 3-5% on their second day in Hong Kong, leaving early private backers with a 73% valuation drop from the IPO.

NBA Suspends Clippers Owner Ballmer, Strips Five Draft Picks Over Kawhi Deal

The NBA suspended Clippers owner Steve Ballmer for one year, stripped five first-round draft picks and fined the team $30 million over the Kawhi Leonard ca

New York City Bans AI for Students Through 8th Grade for One Year

New York City announced a one-year ban on AI tools for students through eighth grade, with new literacy classes and screen-time caps for older students.

Two Killed and Suspect Dead in Downtown Minneapolis High-Rise Shooting

Two people were killed and seven wounded, including three police officers, in a shooting at a downtown Minneapolis high-rise Wednesday. The suspect is dead

HPE Raises Annual Forecasts as AI Server Demand Lifts Quarterly Revenue

Hewlett Packard Enterprise raised its annual profit and revenue forecasts after AI server and networking demand drove a quarterly earnings beat.

Shein Shares Fall Again in Hong Kong, Handing Backers 73% Valuation Drop

Shein shares slid 3-5% on their second day in Hong Kong, leaving early private backers with a 73% valuation drop from the IPO.

Chevron Unveils $7 Billion Venezuela Plan to Double Oil Output

Chevron confirmed a $7 billion, five-year plan to more than double Venezuela oil output to 600,000 barrels a day, following a Trump administration push.

Uber Cuts 3,300 Jobs in Company-Wide Restructuring as Shares Rise 2%

Uber is eliminating roughly 3,300 jobs in a company-wide restructuring, a move that lifted its shares about 2% in early trading on Thursday.

Berkshire’s Abel Says Japan Borrowing Costs Still Modest for Trading Houses

Berkshire CEO Greg Abel said Tuesday that Japanese bond yields remain low enough to keep the country's trading houses comfortable despite a gradual rise.

John Ternus Takes Over as Apple CEO, Ending Cook’s 15-Year Run

John Ternus became Apple's CEO on Tuesday, ending Tim Cook's 15-year run as the company faces AI pressure and rising memory prices.

Morgan Stanley Lifts Robinhood Target to $150, Sees 43% Upside

Morgan Stanley raised its Robinhood price target to $150 from $124 on September 1, citing 43% upside from deeper user monetization rather than crypto.

Shein Shares Plunge Up to 28% in Grey Market Before Hong Kong Debut

Shein shares fell as much as 28% in the grey market a day before its Hong Kong listing, deepening doubts over the fast-fashion giant's cut valuation.

Shein Shares Drop 8% in Hong Kong Trading Debut After Multi-Year Wait

Shein began trading in Hong Kong on Tuesday, opening flat before falling about 8%, giving the first market read after years of listing delays.

Moody’s Affirms Aon Rating but Cuts Outlook on $17B USI Deal

Moody's affirmed Aon's credit rating but revised its outlook, tying the change to the broker's roughly $17 billion acquisition of USI Insurance Services.

FTC and 22 States Sue Amazon Over Inflated Ad Auction Prices

The FTC and 22 states sued Amazon on Monday, alleging it overcharged 1.2 million advertisers by inflating online ad auction prices.

PG&E Sinks 18%, Edison Falls 23% as California Wildfire Bill Omits Liability Cap

PG&E fell 18% and Edison International 23% after a California wildfire bill offered victim protections but no cap on utility liability, exposing investors

Eli Lilly to Buy Merida Biosciences for Up to $2.88 Billion in Cash

Eli Lilly will acquire autoimmune drugmaker Merida Biosciences for up to $2.88 billion in cash, expanding its immunology pipeline.

Kalshi Permanently Bans George Santos Over Illegal Prediction-Market Trades

Prediction market platform Kalshi permanently banned former U.S. Rep. George Santos over trades regulators found manipulative, tied to a State of the Union

Aon Nears $17 Billion Deal for KKR-Backed Broker USI Insurance

Aon is nearing a roughly $17 billion agreement to acquire KKR-backed USI Insurance Services, one of the largest brokerage deals in years.

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