Business

Brad Lightcap Leaves OpenAI for New Venture Amid Executive Shakeup

OpenAI COO Brad Lightcap is departing to start his own company, extending a wave of senior executive exits at the AI lab.

Alpha Compute to Buy Pennsylvania Land for $55 Million Data Center Campus

Alpha Compute plans to acquire land and gas rights in Pennsylvania for a $55 million data center campus powered by on-site natural gas.

Sea Limited Shares Surge 9% as Revenue Climbs 48% and Shopee Outlook Strengthens

Sea Limited shares rose about 9% after quarterly revenue climbed 48% and the company delivered a stronger outlook for its Shopee e-commerce business.

US Existing Home Sales Fall 1.7% in July as Record Prices Deter Buyers

US existing home sales dropped 1.7% in July as record prices and the highest mortgage rates in a year kept many prospective buyers out of the market.

Barclays Downgrades Gap and Under Armour in U.S. Apparel Retailer Reshuffle

Barclays cut its ratings on Gap and Under Armour in a reshuffle of U.S. apparel retailers, citing limited upside amid uneven consumer demand.

BYD’s Q2 EV Sales Surge by 21%, Closing Gap with Tesla

China’s BYD (002594.SZ) recorded a 21% increase in electric vehicle (EV) sales during the second quarter, narrowing the gap with Tesla (TSLA.O). According to...

Boeing to Acquire Spirit AeroSystems in $8.3 Billion All-Stock Deal

Boeing announced on Monday its plans to acquire fuselage manufacturer Spirit AeroSystems in an all-stock transaction valued at $8.3 billion, including Spirit’s debt. The...

Starbucks Introduces New System to Improve Order Efficiency and Customer Experience

Starbucks cafes across the country are implementing significant changes to improve order efficiency and reduce wait times, anticipating a surge in mobile app orders....

Boston Celtics Ownership Group Announces Sale Amid Rising Valuations

The Boston Celtics’ ownership group has announced plans to sell the team, as confirmed in a statement posted on the Celtics’ social media account....

Paramount Global Explores Streaming Service Merger Amid Industry Consolidation

Paramount Global is actively engaging in discussions to merge its Paramount+ streaming service with another platform, a move that could potentially trigger a new...

Over a Quarter of Hong Kong Companies Plan to Downsize Office Space Amid Economic Uncertainty

Over a quarter of Hong Kong companies are looking to reduce their office space this year, according to a recent survey by property consultancy...

Zhihu Launches Generative AI Feature to Enhance User Experience

Zhihu, China’s popular question-and-answer platform akin to Quora, has introduced a new generative artificial intelligence (AI) feature named Zhida, which translates to “direct response”...

U.S. Prosecutors and Boeing Meet as Deadline for Criminal Charges Approaches

U.S. prosecutors are currently engaging with Boeing and the families of victims from two fatal crashes as the July 7 deadline looms for the...

Atos Secures Debt Restructuring Agreement with Creditors

French technology company Atos has reached a preliminary agreement with its creditors to restructure its debt, as reported by the French business newspaper Les...

BIS Warns Rising Global Debt and Upcoming Elections Could Disrupt Financial Markets

The Bank for International Settlements (BIS) warned on Sunday that increasing government debt levels, coupled with numerous major elections this year, could unsettle global...

Navigating the New Alphabet of Electrified Vehicles: A Guide for Car Buyers

Purchasing a vehicle has never been easier, but shoppers entering dealer showrooms now face an alphabet soup of “electrified” vehicle options. As all-electric vehicle...

Fathom Events Thrives Amid Box Office Content Shortage

Fathom Events is experiencing unprecedented success amid a content shortage at the box office and increasingly selective audiences. The joint venture between AMC, Regal,...

Corporate World Takes Cautious Approach to Pride Month Amid Cultural Shifts

This year, corporations have approached Pride Month with increased caution. Traditionally marked by rainbow-themed merchandise and affirming ads, June sees companies celebrating the LGBTQ+...

Amazon Strengthens AI Capabilities by Hiring Adept’s Top Talent and Licensing Technology

Amazon is accelerating its artificial intelligence development by recruiting top talent from AI agent startup Adept and licensing the company's technology. Rohit Prasad, Amazon's...

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