Blackstone has restricted withdrawals from its $79 billion Blackstone Private Credit (BCRED) fund after a surge in investor redemption requests raised concerns about liquidity in private markets. The fund capped withdrawals at 5% of shares after requests reached 10% in the second quarter, following similar moves by other private market firms. The action comes amid broader industry volatility, with firms like Partners Group also limiting redemptions and warning … Continue reading Blackstone restricts flagship fund withdrawals as private asset fears reemerge

Lululemon Athletica reported weaker-than-expected earnings guidance and cut its full-year revenue and profit outlook, signaling a slowdown in growth. The company now expects lower revenue for both the second quarter and full year than Wall Street had forecast, citing ongoing business headwinds. Shares fell more than 11% after the announcement as investors reacted to the disappointing outlook. Incoming CEO Heidi O’Neill, a former Nike executive, will take over in … Continue reading Lululemon stock tanks after company trims full-year financial outlook

U.S. stocks edged higher on Tuesday, with all major indexes hitting record highs as momentum from the artificial intelligence boom continued to lift markets. The S&P 500 rose slightly, while the Dow Jones and Nasdaq also posted gains despite mixed intraday trading. Tech-related stocks led the rally, with Hewlett Packard Enterprise surging after strong earnings tied to AI demand. Marvell Technology jumped sharply after bullish … Continue reading Wall Street inches to more records thanks to booming AI stocks

Asia-Pacific markets rose broadly on Wednesday, with Japan’s Nikkei 225 reaching a record high despite ongoing uncertainty over U.S.–Iran tensions. Investors appeared to overlook escalating conflict risks, including reports of Iranian activity in the Strait of Hormuz, a key global oil shipping route. U.S. Secretary of State Marco Rubio said Iran has placed mines in parts of the waterway and targeted commercial shipping. A White … Continue reading Japan’s Nikkei hits record high

Nearly 1,000 United Auto Workers members went on strike at American Axle, a major General Motors supplier, after contract negotiations failed to reach an agreement before the deadline. UAW President Shawn Fain announced the strike shortly before midnight, saying workers were demanding fair wages after accepting major pay cuts during the 2008 recession to save the company. The union argues that wages have not kept … Continue reading UAW declares midnight strike at American Axle, a key GM supplier

McDonald’s unveiled a new global growth strategy called “McDonald’s > NEXT” aimed at strengthening its position as competition increases and consumer spending tightens. The plan focuses on four key areas: improved restaurant design, better food and beverages, customer-driven innovation, and stronger service. Executives said the company will prioritize menu upgrades, especially in chicken, beef, and drinks, while also using customer feedback and viral trends to … Continue reading McDonald’s unveils new global growth strategy to win over diners

Oil prices surged Monday after reports that Iran was cutting off talks with the United States to end the ongoing war, raising fears of continued supply disruptions. U.S. crude rose about 5.5% to $92.16 per barrel, while Brent climbed 4.5% to $94.98. Energy markets also pushed up fuel and bond yields, though prices eased slightly after hitting earlier highs. The jump followed renewed tensions as … Continue reading Oil prices jump after U.S.-Iran talks reportedly collapse

Anthropic has filed for an initial public offering (IPO), surprising analysts and escalating competition with OpenAI to reach public markets first. The filing will remain confidential while the Securities and Exchange Commission reviews it, and details such as share price and size have not yet been determined. The move comes after Anthropic was recently valued at about $965 billion following a major funding round. If … Continue reading Anthropic files for IPO before OpenAI

South Korea’s exports surged in May at their fastest annual pace in over four decades, driven largely by strong global demand for semiconductors fueled by AI investment. Total exports rose 53.2% year-on-year to a record $87.75 billion, marking the 12th straight month of growth. Chip exports jumped 169.4% to an all-time monthly high, while computer exports soared due to AI server demand, though automobile exports … Continue reading South Korea export growth hits four-decade high as chip sales hit record on AI boom

U.S. stocks reached new record highs on Thursday, driven by strong corporate earnings from companies like Dollar Tree, Snowflake, and Hormel Foods. The rally was also supported by optimism over a tentative U.S.-Iran ceasefire extension, which helped ease oil prices and inflation pressures. Major indexes all rose, with the S&P 500, Dow, and Nasdaq setting fresh records despite ongoing concerns about inflation and high interest … Continue reading Wall Street pushes to more records as profits keep piling up for US companies

Caesars Entertainment has agreed to be acquired by Fertitta Entertainment in a $17.6 billion all-cash deal that includes assumption of significant debt. Shareholders will receive $31 per share, and the agreement includes a short window for Caesars to consider other bids. The combined company would bring together casino resorts, online betting platforms, and Fertitta’s restaurant and hospitality businesses. Caesars Entertainment’s top executives are expected to stay on and … Continue reading Caesars Entertainment to be bought by Fertitta Entertainment in $17.6 billion deal

Anthropic has become the most valuable AI company in Silicon Valley after raising $65 billion in a Series H funding round at a $965 billion valuation. The round, led by major investors including Altimeter Capital and Sequoia Capital, nearly tripled the company’s valuation in just a few months. Strong growth has been driven by demand for its Claude AI tools, with the company reporting a … Continue reading Anthropic tops OpenAI as most valuable AI startup, nears $1 trillion valuation

AutoZone shares fell about 9% on Tuesday, marking their worst one-day drop in more than four years, even though the company beat Wall Street earnings and matched revenue expectations. Investors reacted negatively to concerns raised on the earnings call, including slowing sales, weaker international growth, and margin pressure. Executives attributed the slowdown partly to unseasonably cool weather reducing demand for heat-related products. Analysts also questioned … Continue reading AutoZone stock has worst day in four years

Shares of SK Hynix surged more than 10%, pushing the South Korean chipmaker’s market value above $1 trillion amid strong investor enthusiasm for AI-related semiconductor companies. The stock has risen roughly 250% this year, driven by booming demand for high-bandwidth memory chips used in AI systems and its role as a key supplier to Nvidia. Rival Samsung Electronics also saw gains and recently surpassed the … Continue reading SK Hynix hits $1 trillion valuation as AI boom lifts South Korean chip stocks

Ferrari unveiled its first fully electric vehicle, the Luce, marking a major shift for the luxury sports car maker. The new five-seater EV, priced at about $640,000, can reach 60 mph in roughly 2.5 seconds and has a top speed near 192 mph. CEO Benedetto Vigna described the launch as the beginning of a new chapter while emphasizing respect for both new technology and Ferrari’s … Continue reading Ferrari shares fall after carmaker unveils first fully electric vehicle

Delivery Hero shares jumped more than 10% after reports that Uber Technologies Inc. is considering an improved takeover bid for the German food delivery company Delivery Hero SE. Delivery Hero confirmed it received an offer from Uber valued at €33 per share, which would put the company’s value above €10 billion. The Financial Times reported that Uber’s board has been discussing a higher bid after an earlier offer … Continue reading Delivery Hero shares rise 10% as rival Uber mulls another takeover bid

SKS Copack has recalled a variety of specialty drinks sold in cafes, restaurants, and online across 25 U.S. states due to possible salmonella contamination. The issue is tied to milk powder used in the beverages that may have been affected by a broader recall involving California Dairies Inc.. Several other brands have also issued recalls in recent weeks for the same reason. The Food and Drug … Continue reading Specialty drinks in 25 states recalled due to salmonella concerns

Individuals affected by a November 2024 Krispy Kreme data breach may be eligible for payments of up to $3,500 as part of a $1.62 million settlement. The breach allegedly exposed sensitive personal information, including Social Security numbers, financial data, and birth dates, though Krispy Kreme denies wrongdoing. Eligible U.S. residents who received notice can claim a $75 payment without documentation or higher compensation if they … Continue reading Some eligible for up to $3,500 in Krispy Kreme data breach settlement

Guzman y Gomez, an Australian fast-casual Mexican chain once aiming to expand widely in the U.S., has permanently closed all eight of its American restaurants in the Chicago area after six years of operations. The company said the decision followed weak sales performance and a reassessment that further expansion would require more time and investment than expected. Despite earlier ambitions to open hundreds of U.S. … Continue reading Chipotle rival Guzman y Gomez Mexican Kitchen closes all US restaurants

Oil prices fell sharply as markets reacted to cautious optimism over a possible deal to end the US-Israel war with Iran. Brent crude dropped about 5 percent, though prices remain higher than before the conflict began due to ongoing disruptions in global supply. President Donald Trump said negotiations with Tehran were progressing but urged caution, emphasizing that any agreement must be carefully finalized. He previously … Continue reading Oil prices fall amid mixed signals on US-Iran peace deal

Stellantis announced a major five-year strategy involving €60 billion in investments aimed at boosting growth, efficiency, and profitability by 2030. The plan includes €36 billion for its vehicle brands, with most spending focused on North America, and €24 billion for platforms and new technologies. The company expects to launch over 60 new models, refresh 50 existing ones, and expand across electric, hybrid, and traditional vehicles. … Continue reading Stellantis unveils $70 billion turnaround plan

The U.S. government is expanding its investment in quantum computing with over $2 billion in planned CHIPS-related incentives for major tech companies. The Department of Commerce has signed letters of intent with nine firms, including IBM, D-Wave, Rigetti Computing, and others, to support development of quantum hardware and domestic manufacturing capacity. The funding includes major allocations such as $1 billion for IBM’s quantum foundry and hundreds of millions … Continue reading U.S. Puts $2 Billion Behind Quantum Firms as Bitcoin Security Debate Grows

Walmart issued a weaker-than-expected financial outlook for the current and upcoming quarters, raising concerns about pressure on U.S. consumers amid higher fuel prices and economic uncertainty. The company forecast earnings below Wall Street expectations, which sent its shares down about 8%, even though first-quarter revenue rose 7% and beat estimates. Executives said consumers are feeling uneven financial pressure, with higher-income shoppers still spending strongly while … Continue reading Walmart issues worse-than-expected outlook, shares drop 7%

U.S. federal authorities are investigating allegations that Chinese manufacturers may have restricted global shipping container production shortly before the COVID-19 pandemic, potentially driving up prices and disrupting supply chains. Investigators believe several dominant firms reduced output in late 2019 by limiting work hours, which may have contributed to a coordinated effort to tighten supply. The alleged actions came just before pandemic-related disruptions further strained global … Continue reading U.S. probing whether Chinese companies cut production of shipping containers before COVID pandemic

More than 47,000 Samsung Electronics workers are set to begin a strike after wage negotiations between the company and its union collapsed. The dispute centers on performance-based bonuses, with the union demanding higher payouts and changes to the compensation system. The breakdown in talks followed rejected mediation efforts and conflicting accounts between Samsung and union leaders over delays in decision-making. Samsung warned that the union’s … Continue reading Over 47,000 Samsung Electronics workers set to strike as wage talks break down