SpaceX announced a senior unsecured notes offering and disclosed it holds about $100.8 billion in cash as it prepares for major financing activity. The company plans to use the proceeds to repay bridge financing and support general corporate needs, though the final amount raised has not been officially stated. Sources indicate SpaceX is aiming to raise around $20 billion, with the offering expected to begin … Continue reading SpaceX kicks off bond sale days after record IPO, discloses over $100 billion cash pile

Oil prices rose slightly on Tuesday as investors reacted cautiously to signs of potential progress toward easing tensions in the Middle East. Brent crude and U.S. West Texas Intermediate both posted modest gains after earlier declines linked to a U.S. license allowing limited Iranian oil activity. Concerns remain that Iran could use oil revenues to rebuild its military, though U.S. officials emphasized restrictions on how … Continue reading Oil prices rise as investors continue to watch U.S.-Iran moves

Oracle is undergoing a major restructuring as its stock shows recent short-term declines but strong long-term gains over three and five years. The company is cutting about 13% of its workforce while investing heavily in artificial intelligence infrastructure and pursuing up to $50 billion in new capital. Much of its AI-driven backlog is concentrated among a few major customers, including OpenAI, raising concerns about dependency … Continue reading Oracle Cuts 21,000 Jobs As It Prepares $50 Billion AI Buildout

General Motors has reduced its electric vehicle ambitions and cut over 1,000 jobs at its Factory Zero plant in Detroit, replacing many of them with about 50 collaborative robots, or “cobots.” The company says the machines improve safety, ergonomics, and efficiency as EV demand slows and cost pressures increase. However, the United Auto Workers argues the automation is primarily a cost-cutting move that is eliminating union jobs … Continue reading GM replaces more than 1,000 workers with 50 robots at flagship Detroit plant

SK Hynix has overtaken Samsung Electronics to become South Korea’s most valuable listed company, driven by its leadership in high-bandwidth memory (HBM) chips used in AI systems. The surge reflects a more than 340% rise in SK Hynix’s shares this year as demand for AI infrastructure from companies like Nvidia and Google has accelerated. This shift highlights how AI has transformed memory chips from commodity … Continue reading Yum! Brands Sells Pizza Hut For $2.7 Billion

SK Hynix has overtaken Samsung Electronics to become South Korea’s most valuable listed company, driven by its leadership in high-bandwidth memory (HBM) chips used in AI systems. The surge reflects a more than 340% rise in SK Hynix’s shares this year as demand for AI infrastructure from companies like Nvidia and Google has accelerated. This shift highlights how AI has transformed memory chips from commodity products into critical components … Continue reading SK Hynix overtakes Samsung to become South Korea’s most valuable company

Federal regulators have ordered regional grid operators to speed up the process for connecting large energy users, including AI data centers, to the U.S. electric transmission system. The move is aimed at meeting rapidly rising electricity demand and strengthening U.S. competitiveness in artificial intelligence development. Energy Secretary Chris Wright pushed for the change, which tech companies welcomed as a way to reduce delays in securing … Continue reading Federal regulators order grid operators to speed power to energy-hungry AI data centers

The U.S. Department of Education announced that student loan borrowers who enroll in automatic payments will receive a temporary boost in their interest rate discount starting July 1. The discount will increase from 0.25 percentage points to 1 percentage point, lasting for two years from 2026 to 2028, reducing costs for borrowers who opt in. Officials said the change is intended to encourage more people … Continue reading Student loan borrowers will get an interest rate cut if they sign up for auto pay

Oil prices fell after the United States and Iran signed an interim peace agreement, easing earlier market concerns about continued conflict. Brent crude dropped about 2.3 percent in Asia, reversing a brief spike triggered by President Donald Trump’s warning that military strikes on Iran could resume if tensions escalated. The price decline brought oil closer to levels seen before the conflict began in February, signaling … Continue reading Oil prices fall, stocks rally as US, Iran sign framework to end war

Nvidia is preparing to raise at least $20 billion in debt, marking its first major bond sale since the start of the AI boom, with the total potentially reaching $25 billion. The company disclosed the plan in a regulatory filing and said the funds will be used for general corporate purposes, including refinancing existing debt. The move comes as other major tech firms tied to … Continue reading Nvidia plans to raise at least $20 billion

U.S. stocks surged on Monday, with major indexes hitting record highs as investors reacted positively to news of a U.S.–Iran peace agreement announced by President Donald Trump. The Dow Jones, S&P 500, and Nasdaq all posted strong gains, with the Nasdaq leading the rally on renewed strength in technology-related shares. SpaceX extended its sharp post-debut rally, rising nearly 20% as investor demand remained strong. Markets … Continue reading Dow climbs more than 450 points for record close

Japan’s central bank, the Bank of Japan, raised its policy interest rate to 1%, the highest level in over 30 years, marking a continued shift away from decades of ultra-loose monetary policy. The decision, which was widely expected, passed with strong support among board members and follows earlier rate increases as part of ongoing policy normalization. Officials cited rising inflation pressures, including higher energy costs … Continue reading Bank of Japan hikes rates to 1%, highest since 1995

Stock futures rose early Monday as investors reacted to President Donald Trump’s announcement of a U.S.–Iran agreement to end the war. Dow, S&P 500, and Nasdaq futures all climbed, while Asia-Pacific markets also posted strong gains led by South Korea and Japan. The optimism followed news that the Strait of Hormuz would reopen, helping ease geopolitical tensions and sending oil prices lower. Markets were also … Continue reading U.S. stock futures jump, Japan’s Nikkei surges 5%

Oil prices fell sharply after President Donald Trump announced a deal with Iran to reopen the Strait of Hormuz. U.S. crude and Brent futures both dropped by around 4–5% following the news of the agreement. Trump said the deal includes ending the U.S. naval blockade and allowing toll-free shipping through the strategic waterway. He added that the Strait would reopen after a formal signing ceremony … Continue reading U.S. crude drops nearly 5%

Gold futures fell more than 3.5% on Tuesday, dropping below $4,200 per ounce as the U.S. dollar strengthened. The decline followed a hotter-than-expected May inflation report, which raised expectations that the Federal Reserve could keep rates higher for longer or even hike again. Analysts said rising inflation and tighter monetary policy are making gold less attractive since it does not yield interest. Gold has also … Continue reading Gold extends losses to more than 3% after crucial inflation report

Inflation rose in May, with the Consumer Price Index increasing 0.5% for the month and 4.2% over the past year, driven largely by higher energy prices. Core inflation, which excludes food and energy, rose more modestly at 0.2% monthly and 2.9% annually, suggesting underlying price pressures remain softer. Energy costs surged 3.9% in May and are up sharply over the past year, while food and … Continue reading Consumer prices rose 4.2% annually in May, highest in three years

General Motors is rolling out a software update that allows some U.S. electric vehicle owners to send electricity from their cars back to the power grid, expanding its existing vehicle-to-home energy system. The feature could let drivers sell excess energy to utilities during peak demand, though GM will take a share of the payments and usage may depend on whether drivers want to keep their … Continue reading GM to offer EV owners ability to sell power to US electricity grid

A new federal report warns that Social Security’s retirement trust fund will run short of full funding by 2032, one year earlier than previously projected, while Medicare’s hospital insurance fund is expected to be depleted in 2033. After those dates, both programs would still pay benefits, but only at reduced levels due to insufficient revenue. The worsening outlook is driven by rising healthcare costs and … Continue reading Social Security’s retirement trust fund faces funding shortfall earlier than expected

Marvell Technology surged after being announced as a new addition to the S&P 500, joining on June 22 alongside Flex, while companies like Pool Corp and Campbell’s will be removed. The AI-focused chipmaker, based in Santa Clara, designs semiconductors used in cloud computing, AI, 5G, and data infrastructure. Its stock jumped sharply on the news and has already posted major gains this year, reflecting strong … Continue reading Marvell Technology jumps 10% after news it will join the S&P 500

The United States has added major Chinese companies Alibaba Group, BYD Company, and Baidu to a Pentagon list of firms it says support China’s military, expanding a blacklist that now includes 188 companies. The designation means the firms and their subsidiaries could be barred from U.S. defense contracts under rules set to take effect soon. China condemned the move as discriminatory, while Alibaba and others … Continue reading US lists China’s BYD, Alibaba, Baidu as ‘Chinese military companies’

OpenAI has filed confidential paperwork to go public on the U.S. stock market, setting the stage for what could become one of the largest IPOs in history with a potential valuation above $850 billion. The company said it submitted a confidential S-1 filing to the SEC, allowing regulators to review financial details before public disclosure, while noting the timing of the offering has not yet … Continue reading OpenAI confidentially files for initial public offering on US stock market

Target is recalling its Up & Up baby wipes nationwide after reports that they may be contaminated with bacteria that can cause serious infections in infants. The recall covers both fragrance-free and cucumber-scented versions sold in multiple package sizes at stores and online. The U.S. Food and Drug Administration identified bacterial contamination after complaints of discoloration, irritation, and possible infections. Customers are advised to stop … Continue reading Target recalls baby wipes over risk of ‘life-threatening’ bacterial infections

Bitcoin fell sharply on Friday, dropping to its lowest level since October 2024 and extending a weekly loss of about 16%. The price slid to around $59,000 after a combination of factors, including a small Bitcoin sale by Strategy, broader market liquidations, and pressure from stronger-than-expected U.S. jobs data. The decline was also linked to shifting investor sentiment, with money flowing into AI stocks and … Continue reading Bitcoin cracks $60,000, sinking to lowest level since October 2024

Brent crude oil prices jumped more than $3 per barrel on Monday after renewed Israeli strikes in Lebanon and reports of explosions in several Iranian cities raised fears of wider conflict. Brent futures rose about 3.4% to $96.24, while U.S. crude also climbed more than 3%, reversing losses from the previous session. The gains came amid heightened tensions in the U.S.–Iran conflict and concerns about … Continue reading Oil prices climb more than $3 after Israeli strikes on Lebanon

New data from the U.S. Labor Department shows jobless claims rose more than expected last week, reaching a four-month high, though economists say the labor market remains stable. The increase to 225,000 claims was partly attributed to seasonal effects around the Memorial Day holiday rather than a clear weakening in employment conditions. Analysts described the broader trend as a “low fire, low hire” environment, with … Continue reading US weekly jobless claims increase to four-month high; worker productivity revised down