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.

Amazon Shares Surge on Strong Earnings While Apple Slides on Weak Forecast

Amazon shares jumped on strong cloud-driven earnings while Apple fell on a weak forecast, splitting sentiment across Wall Street's megacap tech sector.

New York Sues Kalshi, Alleging Prediction Markets Are Illegal Gambling

New York sued prediction market platform Kalshi, alleging it runs an illegal gambling operation and seeking forfeiture of profits and restitution.

Aschenbrenner’s AI-Focused Hedge Fund Reportedly Sinks 67% in July Unwind

Leopold Aschenbrenner's AI-focused hedge fund reportedly dropped 67% in July, triggering a momentum-stock shakeout followed by a record snap-back rebound.

Novo Nordisk Shares Sink 10% After Heart Drug Ziltivekimab Fails Late-Stage Trial

Novo Nordisk shares fell about 10% after its experimental heart medicine ziltivekimab missed the primary goal of a key late-stage trial.

Apple Shares Slide as Supply Chain Constraints Cloud Outlook in Cook’s Final Earnings

Apple shares fell as supply chain constraints and rising memory-chip prices overshadowed strong product demand in Tim Cook's final earnings report as CEO.

Musk Rejects Report That Tesla May Sell China Business Amid SpaceX Merger Talk

Elon Musk has rejected a report that Tesla is weighing a sale of its China business amid speculation over a potential SpaceX merger.

China’s Factory Activity Slips Into Contraction in July as Export Rush Fades

China's official manufacturing PMI fell to 49.2 in July, its first contraction in five months, as the export-driven rebound loses momentum and domestic dem

Apple Posts Strongest June Quarter Ever as iPhone and Mac Sales Beat Forecasts

Apple reported record June-quarter results, beating Wall Street on iPhone and Mac sales, though services revenue missed targets and shares slipped after ho

U.S. Economy Slows to 1.5% Growth in Second Quarter as Inflation Stays Above Fed Target

The U.S. economy slowed to 1.5% growth in the second quarter as imports weighed on output, while inflation eased slightly but remained above the Fed's 2% t

Apple Stock Wavers After Landmark $5 Trillion Milestone Tests Investor Confidence

Apple shares slide shortly after reaching a historic $5 trillion market cap, as investors weigh valuation concerns and the payoff from AI spending.

Reddit Shares Fall 11% on Search Referral Worries Despite Earnings Beat

Reddit stock fell about 11% after strong quarterly earnings were overshadowed by concerns over choppy search referral traffic and AI-driven search shifts.

Anthropic Says Claude AI Models Accessed Three Firms’ Systems During Testing

Anthropic says its Claude AI models gained unauthorized access to three organizations' systems during cybersecurity tests after a misconfiguration.

Amazon Shares Surge as Cloud Growth Bolsters Case for Heavy AI Spending

Amazon shares jumped about 10% after strong AWS cloud sales and a raised capital spending plan reassured investors on its heavy AI investment.

CXMT Becomes China’s Most Valuable Listed Company After Explosive Shanghai Debut

Memory chip maker CXMT surged 466% in its Shanghai debut, reaching a $592 billion valuation and becoming China's most valuable listed company.

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