Business

PayPal shares fell about 12% below $55 after an Advent-Stripe group abandoned its takeover pursuit, driving options volume to 134,092 contracts.

Business Lynn Hatem -

PayPal Sinks 12% as Advent-Stripe Group Drops Buyout Pursuit

PayPal shares fell about 12% below $55 after an Advent-Stripe group abandoned its takeover pursuit, driving options volume to 134,092 contracts.

Business Lynn Hatem -

Rivian Shares Fall 6% as CFO Claire McDonough Departs for GE Vernova

Rivian stock dropped about 6% on Thursday after CFO Claire McDonough announced she would step down to join GE Vernova during the automaker's affordable-EV

Automotive Lynn Hatem -

Trump Signs Order Creating US Space Academy Modelled on West Point

President Trump signed an executive order on Friday creating a US Space Academy modelled on West Point, announced at NASA's Johnson Space Center in Houston

America Aarav Shen -

US Appeals Court Backs Nevada Oversight of Kalshi Sports Prediction Markets

The Ninth Circuit ruled Kalshi cannot block Nevada oversight of its sports prediction contracts, lifting DraftKings and Flutter shares and setting up a Sup

Business Lynn Hatem -

Latest

Standard Chartered Venture Anchorpoint Launches Hong Kong Dollar Stablecoin for Institutions

Standard Chartered-led venture Anchorpoint has begun institutional use of Hong Kong dollar-backed stablecoins, with retail access eyed by end-2026.

Definium Therapeutics Stock Jumps 20% on LSD Anxiety Drug Trial Success

Definium Therapeutics shares soared about 20% after positive Phase 3 results for its LSD-based anxiety treatment, a milestone for psychedelic medicine.

IEA Warns Hormuz Closure to Cut Global Oil Demand by 1.6 Million Barrels

The IEA expects global oil demand to fall 1.6 million barrels a day in 2026 as the Strait of Hormuz stays shut amid stalled US-Iran talks.

Super Micro Stock Rallies After Earnings as Wall Street Reassesses AI Server Demand

Super Micro Computer shares surged after quarterly results, as Wall Street reassessed demand for its AI server systems amid a mix of optimism and caution.

US Retail Sales Fall 0.6% in July as Tax-Refund Boost Fades

U.S. retail sales fell 0.6% in July, the biggest drop since May 2025, as tax-refund spending faded and shoppers cut back on electronics and online purchase

Potential Workday Deal Sets Floor Under Battered Software Stocks

A potential Workday acquisition has lifted software stocks, with analysts saying it sets a valuation floor after this year's AI-driven selloff.

Goldman Sachs to Buy ETF Provider Neos in $2.3 Billion Deal

Goldman Sachs has agreed to acquire income-ETF provider Neos in a cash-and-stock deal worth up to $2.25 billion, expanding its asset management push.

Intuitive Surgical Stock Sinks 33% in 2026 as Oppenheimer Turns Bullish

Intuitive Surgical shares dropped 33% in 2026, but Oppenheimer turned bullish, arguing rivals are being crowded out of the robotic surgery market.

Reddit Joins S&P 500, Shares Jump 11% After Months of Speculation

Reddit will join the S&P 500, sending shares up about 11% after hours, though analysts flag concerns over its growth and AI-licensing revenue.

Uber and Pony.ai to Deploy Over 2,000 Robotaxis Across Europe

Uber and China's Pony.ai will jointly deploy over 2,000 robotaxis across Europe, one of the largest planned driverless fleet expansions on the continent.

SMIC Raises Chip Prices and Weighs Capacity Expansion on Surging AI Demand

SMIC is raising chip prices and considering new capacity as AI-related demand for mature-node chips surges beyond forecasts, lifting shares after strong Q2

Anthropic Could Seek $3 Trillion IPO Valuation, Topping SpaceX Record

Some investors expect AI developer Anthropic to seek a $2 trillion to $3 trillion IPO valuation, above SpaceX's $1.7 trillion record, a new report says.