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.

Neil Shen Steps Down from Meituan Board Amidst Expanding Ventures

Neil Shen Nanpeng, the billionaire founder of the venture capital firm HongShan (formerly Sequoia China), has resigned from his role as a non-executive director...

Cocoa Price Surge: Impacts on Global Candy Makers and Future Implications

A specific segment of global agriculture is experiencing significant pricing pressure, and it’s creating a bittersweet situation. Over the past year, cocoa prices have...

AI App Helps Cat Owners Monitor Pet Health and Reduce Vet Visits

Mayumi Kitakata is concerned about the health and well-being of her feline companion, Chi, who is around 14 years old. To ensure Chi enjoys...

Roche Files Lawsuit Against Indian Manufacturers for Selling Counterfeit Diabetes Devices on Amazon

Roche, one of the world’s largest biotech companies, has reported the sale of "dangerous counterfeits" of its diabetes medical devices on Amazon, potentially endangering...

Family Offices Increasingly Engage in Direct Investments, Survey Reveals

Family offices are increasingly taking on roles similar to private equity funds, directly investing in companies, according to a new survey by BNY Mellon...

WNBA Sees Record-Breaking Growth in Viewership and Attendance

The Women's National Basketball Association (WNBA) is experiencing a surge in popularity, with record levels of fan engagement both in-person and on television. The...

Delta Air Lines Introduces Premium Economy Service on Transcontinental Flights

Delta Air Lines announced on Monday that it will introduce its premium economy service on transcontinental flights starting in September, aiming to attract customers...

Tiana’s Bayou Adventure to Open at Walt Disney World on June 28

Tiana’s Bayou Adventure, the reimagined Splash Mountain, is set to reopen on June 28 at Walt Disney World Resort in Orlando, Florida. This refurbishment...

Elliott Management Seeks Leadership Changes at Southwest Airlines with $1.9 Billion Stake

Activist hedge fund Elliott Management has acquired a $1.9 billion stake in Southwest Airlines and plans to advocate for leadership changes at the airline,...

UAW President Shawn Fain Under Investigation for Alleged Misconduct and Obstruction

United Auto Workers (UAW) President Shawn Fain is under investigation by Neil Barofsky, a federal court-appointed watchdog, according to a court filing on Monday....

FDA Panel Recommends Eli Lilly’s Alzheimer’s Drug Donanemab for Approval

A panel of independent advisors to the Food and Drug Administration recommended Eli Lilly’s Alzheimer’s drug donanemab on Monday, potentially paving the way for...

General Motors Announces New $6 Billion Stock Repurchase Program

General Motors (GM) announced a new $6 billion stock repurchase authorization approved by its board. This new buyback plan follows an accelerated $10 billion...

Warner Bros. Discovery Secures Exclusive U.S. Broadcast Rights for French Open Starting 2025

Warner Bros. Discovery's TNT Sports is set to become the exclusive U.S. broadcaster for the French Open, known as Roland-Garros, starting in 2025. The...

Oscar Health CEO Mark Bertolini Targets Employer Market for Future Growth

Mark Bertolini has steered Oscar Health toward profitability since becoming CEO a year ago. Now, he’s focusing on expanding the health insurer’s footprint in...

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