Business

Qualcomm Stock Jumps 10% on $4 Billion Amazon Custom Chip Deal

Qualcomm shares rose about 10% after unveiling a roughly $4 billion custom chip partnership with Amazon for AI data centers, challenging Nvidia's lead.

Dow Sheds 500 Points as Oil Nears $100 on Saudi Houthi Attacks

The Dow dropped about 500 points Wednesday as Houthi attacks on Saudi Arabia injured 73 and drove oil toward $100 a barrel.

Dow Slides 400 Points as US-Iran Strikes Push Oil to Six-Week High

The Dow slid roughly 400 points as renewed U.S.-Iran attacks pushed Brent crude to a six-week high, with energy shares leading a mixed Wall Street session.

GE Aerospace to Buy Castings Maker CPP for $11.75 Billion

GE Aerospace said on Tuesday it will acquire castings maker Consolidated Precision Products for $11.75 billion from Warburg Pincus and Berkshire Partners.

UK Bans Trade From Israeli West Bank Settlements, Drawing US and Israeli Criticism

Britain said on Tuesday it will ban goods from Israeli settlements in the occupied West Bank, drawing criticism from the US, Israel and some British MPs.

Japan Appoints New FX Diplomat as Yen Hits 38-Year Low

Japan appointed Atsushi Mimura as its new top foreign exchange diplomat on Friday as the yen hit a 38-year low against the dollar. This...

U.S. Stock Market Faces Uncertainties in Second Half of 2024

As U.S. stocks conclude a strong first half of 2024, investors are speculating about the impact of political uncertainty, potential Federal Reserve policy shifts,...

Saudi Arabia May Cut Oil Prices for Asia Again in August Amid Market Pressures

Top oil exporter Saudi Arabia is considering a second consecutive month of price cuts for the crude grades it sells to Asia in August,...

Commodity Markets Could Face Disruption with Potential Trump Presidency, Says HSBC Economist

Commodity markets may experience greater fragmentation and supply disruptions if former U.S. president Donald Trump wins the November 5 election, according to HSBC economist...

NASA Awards SpaceX $843 Million Contract to Guide ISS Deorbit by 2030

NASA announced on Wednesday that SpaceX will develop a spacecraft to guide the International Space Station (ISS) to its controlled destruction later this decade....

JPMorgan Disputes Federal Reserve’s Stress Test Income Projections

JPMorgan Chase announced late Wednesday that the Federal Reserve overestimated a critical income measure in the bank’s recent stress test, indicating that its actual...

Home Prices Show Signs of Cooling Amid Stagnant Spring Market

Home prices are showing signs of cooling, though they remain higher than a year ago. Several new reports indicate that price gains are shrinking,...

Chinese Automakers to Capture 33% of Global Market by 2030

Chinese automakers are projected to capture 33% of the global automotive market share by 2030, according to a new report from consulting firm AlixPartners....

Walgreens Shares Drop as Q3 Earnings Miss Expectations and Profit Outlook is Cut

Shares of Walgreens closed more than 20% lower on Thursday after the company reported fiscal third-quarter earnings that missed expectations and lowered its full-year...

Rivian Focuses on Cost-Cutting and Efficiency Amid Stock Fluctuations

Rivian Automotive's investor event on Thursday centered on cost-cutting efforts, efficiency gains, and in-house technologies but wasn't enough to maintain the company’s recent stock...

Tesla’s Lead in Electric Vehicle Quality Declines as Legacy Automakers Catch Up

Tesla is losing its lead over legacy automakers in the quality of its new all-electric vehicles, according to J.D. Power's 2024 U.S. Initial Quality...

Prescription Drug Costs Surge 37% Since 2014, Increasing Consumer Burden

The cost of prescription medications in the U.S. has surged by 37% since 2014, significantly outpacing the rate of inflation, according to data from...

Sam’s Club Revamps Member’s Mark to Rival Costco’s Kirkland Signature

During the Covid pandemic, Megan Crozier bought an inflatable pool from Sam’s Club to entertain her children, but it began leaking air after just...

Nike’s Shares Plunge as Company Cuts Guidance and Faces Slowing Sales

Nike's shares plummeted by 11% after the company cut its full-year guidance, anticipating a 10% drop in sales for the current quarter, significantly below...

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