Business

Oil Climbs as Hopes for Imminent Strait of Hormuz Deal Fade

Crude climbs above $84 in the U.S. and past $89 internationally as hopes for an imminent Strait of Hormuz reopening deal collapse into deadlock.

Hims & Hers Shares Slide as Weight-Loss Expansion Squeezes Margins Despite Revenue Beat

Hims & Hers stock fell after beating revenue estimates but posting a loss, as its costly expansion into weight-loss treatments pressured margins.

On Holding Cuts Sales Outlook as Consumer Demand Weakens, Shares Slide

On Holding shares slid after the Federer-backed sportswear maker cut its annual sales outlook and missed quarterly revenue estimates on weaker consumer dem

Reserve Bank of Australia Holds Cash Rate at 4.35%, Warns Further Hikes Remain Possible

The Reserve Bank of Australia held the cash rate at 4.35% but warned further hikes remain "quite possible" even as house prices continue to fall.

Luigi Mangione Returns to Manhattan Court Ahead of September Murder Trial

Luigi Mangione appeared in a Manhattan court ahead of his September 8 murder trial over the killing of UnitedHealthcare CEO Brian Thompson.

Peloton Introduces $95 Activation Fee for Used Equipment as Secondary Market Grows

Peloton has announced the implementation of a one-time $95 activation fee for new subscribers who purchase its fitness equipment through secondary markets such as...

Peloton Narrowly Returns to Revenue Growth, Cuts Losses Significantly

Peloton announced a modest return to revenue growth in its fiscal fourth quarter, marking the first year-over-year sales increase in nine quarters. The connected...

FDA Approves Updated Covid Vaccines from Pfizer and Moderna Amid Summer Surge

The Food and Drug Administration (FDA) has approved updated Covid vaccines from Pfizer and Moderna, setting the stage for their distribution across the United...

Cava Raises Full-Year Outlook as Strong Traffic Boosts Earnings

Cava, the Mediterranean restaurant chain, has significantly raised its full-year outlook following a robust fiscal second quarter, where strong restaurant traffic fueled better-than-expected earnings...

Walmart Sells Entire Stake in JD.com to Focus on China Operations and Sam’s Club

Walmart, the largest shareholder of Chinese e-commerce giant JD.com, has sold its entire stake in the company, according to a source familiar with the...

Google Faces Revived Lawsuit Over Chrome Data Collection Without User Consent

A U.S. appeals court has ruled that Google must face a revived lawsuit brought by Google Chrome users who allege that the company collected...

Federal Judge Blocks FTC Ban on Noncompete Agreements from Taking Effect

A federal judge in Texas has blocked a U.S. Federal Trade Commission (FTC) rule that sought to ban noncompete agreements, which are commonly signed...

California Governor Signs 10 Bills to Combat Retail Crime and Organized Theft

California Governor Gavin Newsom has signed into law a package of 10 new bills designed to combat rising retail crime in the state. Announced...

General Motors Lays Off Over 1,000 Employees in Software Division Amid Operational Streamlining

General Motors (GM) is laying off more than 1,000 salaried employees globally within its Software and Services division as part of a strategic effort...

Boeing Pauses 777X Flight Tests Due to Structural Damage Discovery

Boeing announced on Monday that it has temporarily halted flight tests of its 777X aircraft after discovering structural damage in one of the wide-body...

Alaska Airlines and Hawaiian Airlines Merger Clears U.S. Justice Department Hurdle

Alaska Airlines announced that its $1.9 billion merger with Hawaiian Airlines has passed a significant regulatory hurdle, as the U.S. Justice Department's antitrust review...

Lowe’s Lowers Full-Year Forecast Amid Declining Sales and Consumer Hesitancy

Lowe’s has revised its full-year forecast downward after reporting a decline in quarterly sales, citing concerns about weaker home improvement spending for the remainder...

Eli Lilly’s Weight Loss Drug Tirzepatide Significantly Reduces Type 2 Diabetes Risk

Eli Lilly’s weight loss drug tirzepatide, the active ingredient in Zepbound and Mounjaro, has shown remarkable effectiveness in reducing the risk of developing Type...

GMC Aims to Lead U.S. Electric Truck Sales with New Sierra EV Launch

General Motors' premium brand, GMC, is making a bold move to dominate the U.S. electric truck market with the launch of its new electric...

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