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.

Boeing CEO Faces Senate Panel Amid New Whistleblower Allegations

Boeing CEO Dave Calhoun is set to address a Senate panel, acknowledging that the company’s culture is "far from perfect" amid new whistleblower allegations...

Senator Warren Criticizes Fed Chair Powell Over Basel III Endgame Changes

Senator Elizabeth Warren, D-Mass., has accused Federal Reserve Chair Jerome Powell of yielding to the financial industry's interests by considering reductions to proposed regulations...

Toyota Faces Governance Scrutiny as Chairman Akio Toyoda Seeks Re-election Amid Scandals

Toyota Motor's Chairman Akio Toyoda is poised for re-election at the automaker's annual general meeting on Tuesday, despite recent scandals and growing governance concerns....

Anticipation Builds Among GameStop Investors Ahead of Annual Meeting

GameStop's annual meeting, set for Monday, is generating considerable excitement among its dedicated retail investor base. Shares of the video game retailer have experienced...

Wall Street Edges Lower as Investors Await Economic Data and Fed Comments

Wall Street's main indexes dipped slightly on Monday as investors anticipated new economic data and upcoming comments from Federal Reserve officials throughout the week...

Tesla Challenges Court Ruling on Elon Musk’s Compensation Following Shareholder Vote

Tesla has initiated a legal battle for the recognition of a shareholder vote favoring Elon Musk’s record compensation package. In a letter made public...

Eli Lilly’s Expansion Driven by High Demand for Diabetes and Weight Loss Treatments

Eli Lilly has reached new heights thanks to the soaring demand for its diabetes treatment Mounjaro and the newly launched obesity drug Zepbound. Outgoing...

Australian Property Market Faces Uncertainty Amid Policy Changes Impacting Foreign Buyers

Rebecca Li, 24, from Shandong Province in China, is among the 8.2 million foreign-born residents in Australia who have significantly influenced the country’s property...

Disney and Pixar’s “Inside Out 2” Reignites Box Office with Record-Breaking Debut

Disney and Pixar have brought a significant boost to the box office with the release of "Inside Out 2," which debuted with an estimated...

China Securities Regulator Intervenes to Stabilize Market Amid Short-Selling Concerns

China’s securities regulator has stepped in to reassure investors following a social media post that drew attention to a surge in shorted stocks last...

Chinese Stocks Poised for Gains Despite Property Market Slump, Says Market Strategist

Chinese stocks do not require a rebound in property prices to achieve further gains, according to Hong Hao, partner and chief economist at Grow...

China’s New Home Prices See Sharpest Decline in Nearly a Decade

In May, new home prices in China experienced their steepest decline in nearly a decade, despite the implementation of a massive rescue package aimed...

Shein Founder Xu Yangtian Maintains Low Profile Amid IPO Plans

Xu Yangtian, the founder of the popular fast-fashion shopping app Shein, has deliberately kept a low profile, avoiding public attention as the company prepares...

Chinese Insurers Face Profitability Risks Amid Property Market Downturn

A prolonged downturn in China’s property market poses significant risks to the profitability of the country’s insurers. These insurers, with considerable exposure to commercial...

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