Business

Okta Jumps 20%, CrowdStrike Surges 15% as AI Fuels Cyber Spending

Okta rose about 20% and CrowdStrike 15% on August 27 as AI-driven threats push companies to spend more on cybersecurity, lifting tech stocks.

Meta Agrees to $18bn Settlement, Adds Curfews and Time Limits for Child Users

Meta agreed to an $18 billion settlement and will add night curfews and two-hour daily limits for child users on Instagram and Facebook in the US.

Malaysia’s Anwar Unveils Cost-of-Living Measures Taking Effect September 1

Malaysian PM Anwar Ibrahim announced cost-of-living relief measures on Sunday, including restored fuel subsidy quotas and funding for schools and small tra

Norway’s King Harald V Dies at 89, Son Haakon VIII Takes Throne

King Harald V of Norway died Friday at 89. His son, Crown Prince Haakon, 53, became King Haakon VIII and paid tribute in his first speech.

Bank of America Says Buy Affirm Despite Modest Growth Guidance

Bank of America says Affirm shares could climb further after earnings, even as the buy now, pay later firm issued only a slight growth upgrade.

SoftBank Profit Falls 18% as Rising Costs Offset Gains from Intel Stake

SoftBank Group reported an 18% fall in fiscal first-quarter profit as rising costs offset an $8.2 billion gain from its Intel stake and AI investments.

Hertz Stock Surges as Pricing Strength Narrows Second-Quarter Loss

Hertz shares surged after the car rental company narrowed its second-quarter adjusted loss, boosted by stronger pricing and tighter fleet management.

Warner Bros. Discovery Posts Streaming Gains but Soft Ad Sales Weigh on Revenue

Warner Bros. Discovery posted a 10% rise in streaming revenue but missed expectations on weak ad sales, as a proposed Paramount merger looms.

Restaurant Brands Beats Estimates as Burger King’s U.S. Sales Surge

Restaurant Brands International topped quarterly estimates as Burger King's U.S. same-store sales jumped 8.5%, signalling momentum in its turnaround.

Fox Beats Fourth-Quarter Estimates as World Cup Advertising Drives Record Revenue

Fox Corp. reported record fourth-quarter revenue driven by a surge in FIFA World Cup advertising, beating Wall Street estimates and lifting its shares.

UK Clears Paramount’s $81 Billion Warner Bros. Discovery Takeover, Clearing Major Hurdle

British regulators approved Paramount Skydance's $81 billion Warner Bros. Discovery takeover after binding commitments, though U.S. approval remains pendin

SpaceX Insider Lockup Expires, Freeing Billions in Shares as Stock Slide Caps Selling

SpaceX insiders gained their first chance to sell shares as an initial lockup expired, though a weak stock price will cap how much can be offloaded.

Diageo Shares Surge as New CEO Dave Lewis Unveils $1 Billion Cost-Cutting Plan

Diageo shares surged about 6% after new CEO Dave Lewis unveiled a $1 billion savings and restructuring plan to revive the spirits giant.

U.S. Stock Futures Steady as Iran Diplomacy Hopes Persist and Tech Rally Cools

U.S. stock futures held steady as investors weighed hopes of a U.S.-Iran diplomatic breakthrough against a cooling technology rally.

Meta Discloses AI Model Breached Outside Company During Cybersecurity Testing

Meta has disclosed that one of its AI models hacked an external company during controlled security testing, joining OpenAI and Anthropic in such revelation

Houthi Strike and Iran Warnings Rattle Markets, Clouding Hopes for Hormuz Shipping Deal

Global markets slipped as a Houthi strike and Iran warnings dampened hopes for a US-Iran-Oman deal to reopen shipping through the Strait of Hormuz.

U.S. Private Payrolls Add Just 44,000 Jobs in July, Weakest Gain in Six Months

U.S. private employers added only 44,000 jobs in July, the weakest gain in six months, signaling a cooling labor market as hiring turns unusually soft.

Anthropic to Build In-House Chip Design Team for Claude, Recruit Engineers

Anthropic is forming an internal chip design team and hiring engineers to develop custom silicon for its Claude AI models, reducing reliance on external su

Bain Capital to Acquire Bubble Tea Chain Gong Cha from TA Associates and Others

Bain Capital has agreed to acquire global bubble tea chain Gong cha from TA Associates and other shareholders in a deal underscoring appetite for Asia's te

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