The U.S. Federal Communications Commission (FCC) has added foreign-made advanced robotic devices to its Covered List, effectively blocking many imported robots from being sold in the country. The move includes products such as robot vacuums from brands like Roborock, Ecovacs, Dreame, and Samsung, as well as humanoid and robotic systems. The FCC said the devices are restricted due to national security concerns and will no … Continue reading The FCC bans all robot vacuums made outside the U.S.

ExxonMobil and Chevron reported major profit gains as the Middle East conflict disrupted energy supplies and boosted oil company earnings. ExxonMobil’s second-quarter profits more than doubled to $14.5 billion, while Chevron earned $12.1 billion, driven by higher energy prices and supply constraints. Despite strong company results, gasoline prices remain above $4 per gallon, creating political challenges for President Donald Trump ahead of the midterm elections. … Continue reading Oil giants report blowout profits on war, warn high gas prices could persist

Apple shares fell nearly 10% after CEO Tim Cook warned that rising memory costs and supply constraints could pressure the company’s business. Although Apple’s third-quarter earnings and revenue exceeded analyst expectations, the company said higher component costs are making it harder to maintain margins. The memory shortage has already led Apple to raise prices on some Macs and iPads, with potential iPhone price increases expected … Continue reading Apple stock slides nearly 10% as Cook warns of memory shortage impact

Mortgage rates climbed to their highest level in a year, with the average 30-year fixed mortgage rate rising to 6.66% from 6.58% the previous week. The increase came as Treasury yields moved higher due to Middle East tensions and the Federal Reserve’s decision to keep interest rates unchanged. Although housing inventory has improved, economists warned that higher borrowing costs continue to challenge buyers, especially first-time … Continue reading Mortgage rates rise to 1-year high

U.S. economic growth slowed more than expected in the second quarter, with GDP rising 1.5% compared with economists’ forecast of 1.8%. Inflation remained above the Federal Reserve’s 2% target, with annual PCE inflation at 3.7% and core inflation at 3.3%. The mixed data created uncertainty for the Fed as officials weigh whether to adjust interest rates while inflation pressures persist. The central bank recently voted … Continue reading U.S. economy slowed to 1.5% growth rate in Q2

Microsoft shares surged after strong quarterly earnings showed better-than-expected revenue growth and rapid adoption of its AI-powered Copilot tools. The company’s Azure cloud business grew 43%, boosting investor confidence that its major artificial intelligence investments are beginning to pay off. Meta, however, saw its stock fall after missing earnings expectations, lowering revenue guidance, and reporting a sharp decline in free cash flow due to heavy … Continue reading Meta sinks 8%, continuing record losing streak, while Microsoft jumps 15%

PayPal shares rose more than 4% after the company reaffirmed its turnaround strategy while leaving open the possibility of future deals. CEO Enrique Lores said the company remains focused on executing its own plan but would consider opportunities that could create greater shareholder value. The company reported better-than-expected second-quarter earnings, increased payment volume, and raised its full-year outlook. PayPal has struggled against competitors like Apple, … Continue reading Paypal stock rises as CEO keeps door open on potential deals

Apple briefly became the second publicly traded company in history to reach a $5 trillion market value, driven by strong stock performance and iPhone sales. The company’s shares have risen significantly over the past year despite criticism over its slower progress in artificial intelligence development. Apple has made moves to strengthen its AI efforts, including a partnership with Google to use Gemini models for an … Continue reading Apple tops $5 trillion market cap, only second company to hit the milestone

Cracker Barrel announced that CEO Julie Masino will step down on Aug. 10 and will be replaced by David Deno, who has experience in restaurant and retail leadership. Masino will remain with the company in an advisory role through October to help with the transition. Her departure follows a controversial rebranding effort that changed the company’s logo and restaurant designs, sparking customer backlash. Cracker Barrel … Continue reading Cracker Barrel CEO Julie Masino to step down

Oil prices dropped and global stocks rose after the U.S. paused military strikes on Iran and avoided a major escalation of the conflict. Crude prices fell about 6%, briefly dropping below $90 a barrel after previously rising above $100 during the fighting. The decline boosted markets, with major U.S. stock indexes posting gains as investors reacted to easing energy concerns. Lower oil prices could eventually … Continue reading Oil prices plunge and stocks rise after US pauses attacks on Iran

The Pentagon awarded Oracle a nearly $7 billion, 10-year contract to provide software services for the military, intelligence agencies, and the Coast Guard. The agreement includes software licenses, maintenance, and consulting, with officials estimating it will save taxpayers at least $441 million. The deal boosted Oracle’s stock after the company faced investor concerns over slowing software growth and rising costs from expanding its AI data … Continue reading Oracle signs 10-year software contract with Pentagon worth up to $7 billion

A nationwide cyclospora outbreak linked to shredded iceberg lettuce has expanded to nine states, with nearly 2,000 illnesses reported. The CDC said the outbreak is the largest of its kind in the U.S. this year, though no deaths have been reported. Health officials have focused on lettuce supplied by Taylor Farms from its facility in Mexico, which led to a recall and the removal of … Continue reading CDC says massive cyclospora outbreak is now in nine states

More than 1.5 million dozen eggs have been voluntarily recalled across six states due to possible salmonella contamination. The recall, issued by Midwest Poultry Services, affects several brands including Kroger, Brookshire’s, Country Morning, Simple Truth, and Sunups. The eggs were distributed in Texas, Oklahoma, Arkansas, Louisiana, New Mexico, Mississippi, and other locations, with no illnesses reported so far. The issue was discovered through routine environmental … Continue reading More than 1.5 million dozen egg cartons recalled over possible salmonella contamination

IBM reported weaker-than-expected second-quarter earnings and lowered its 2026 growth forecast, citing slower sales in some key businesses. The company posted $17.16 billion in revenue, slightly below analyst expectations, while net income fell to $2.17 billion from a year earlier. IBM now expects 4% to 5% revenue growth in 2026, down from its previous forecast of more than 5%. Software revenue increased, but infrastructure sales … Continue reading IBM lowers full-year forecast after earnings warning

Tesla reported second-quarter earnings that missed Wall Street expectations, although revenue exceeded forecasts, sending the company’s stock down about 4% in after-hours trading. Revenue rose 26% from a year earlier to $28.24 billion, while net income fell 5% to $1.11 billion. Profit margins declined as lower vehicle prices, reduced regulatory credit revenue, and higher spending on artificial intelligence and research weighed on results. Tesla’s automotive, … Continue reading Tesla misses on earnings, as free cash flow turns negative and margins slide 

Nebius shares jumped 17% after Nvidia revealed a 9.3% stake in the AI infrastructure company. The Amsterdam-based neocloud provider has become a major beneficiary of the artificial intelligence boom, with its stock rising nearly 250% over the past year. Nvidia and Nebius are partnering on AI infrastructure, including computing systems, data centers, and AI factory development. The company has also secured major agreements, including a … Continue reading Nebius stock surges 17% as Nvidia discloses significant stake in neocloud

A federal judge approved a $1.5 billion settlement requiring AI company Anthropic to compensate authors whose books were used without permission to train its Claude chatbot. More than 482,000 books are covered by the agreement, with authors and publishers receiving about $3,000 per claimed work. The settlement follows a ruling that found AI training itself may qualify as fair use, but Anthropic improperly obtained millions … Continue reading Judge approves a $1.5B Anthropic settlement over pirated books used to train the Claude

Novo Nordisk, the maker of Wegovy and Ozempic, has sued rival Eli Lilly over claims that its advertising falsely suggests Lilly’s weight-loss drugs are more effective. The lawsuit alleges Eli Lilly used outdated comparisons that favored Mounjaro and Zepbound over lower doses of Novo Nordisk’s treatments while leaving out newer data. Eli Lilly denied the accusations, saying its advertising is accurate, transparent, and based on … Continue reading Ozempic-maker accuses rival of false advertising

Netflix reported second-quarter earnings that were slightly above expectations for profit but narrowly missed revenue estimates. The company posted $12.56 billion in revenue, a 13% increase from the previous year, driven by subscriber growth, higher prices, and rising advertising revenue. Net income increased to $3.40 billion compared with $3.13 billion a year earlier. Despite the solid results, Netflix shares fell more than 7% as investors … Continue reading Netflix stock falls as earnings forecast disappoints

Samsung Biologics announced a $1.8 billion all-cash offer to acquire Switzerland’s PolyPeptide Group, a company specializing in peptide-based pharmaceutical ingredients. The deal would be the largest biopharmaceutical acquisition in South Korea’s history and is expected to close by the end of the year. The acquisition aims to expand Samsung Biologics’ portfolio beyond antibody drugs into fast-growing peptide therapies, including treatments for obesity and diabetes. PolyPeptide … Continue reading Samsung Biologics makes $1.8 billion all-cash offer for Switzerland’s PolyPeptide Group

A lettuce sample linked to a multi-state Cyclospora outbreak was found to have produced a false positive result, according to the U.S. Food and Drug Administration. Despite the error, Taylor Farms’ voluntary recall of iceberg lettuce from Mexico remains in place while officials continue investigating the outbreak. The recalled lettuce had been distributed to retailers and used by Taco Bell locations in several states, prompting … Continue reading FDA says Taylor Farms lettuce sample tested for cyclospora produced false positive for the parasite

The federal government is urging state attorneys general to investigate and prosecute any illegal practices that may be keeping gasoline prices higher than expected. Officials from the Department of Justice and the Federal Trade Commission argue that falling crude oil prices are not being fully reflected at the pump. The push follows President Trump’s public claims that oil companies and retailers are “gouging” consumers despite … Continue reading Feds press states to target any illegal activity contributing to high gas prices

EasyJet has agreed in principle to be acquired by U.S. private equity firm Castlelake in a deal valuing the airline at about £5 billion ($6.7 billion). The offer of £6.90 per share still requires a formal bid by August 3 or it could be withdrawn. EasyJet’s board said it is “minded to recommend” the deal to shareholders after previously rejecting multiple earlier offers. Castlelake said … Continue reading EasyJet agrees to $6.7 billion takeover bid from U.S. private equity firm Castlelake

Ford Motor has long promoted itself as a leader in American manufacturing, but it has also struggled with a high number of vehicle recalls and quality problems. The company issued millions of recalls in recent years, including more than 53 recalls affecting over 12 million vehicles so far this year, which has hurt earnings and customer trust. CEO Jim Farley says Ford is beginning a … Continue reading Ford achieves quality milestone, as CEO targets flawless new vehicle launches

U.S. job growth slowed sharply in June, with only 57,000 nonfarm payrolls added, well below expectations and a revised weaker May figure. The unemployment rate dipped to 4.2%, but largely because fewer people were participating in the labor force, and household employment dropped significantly. Several sectors showed mixed results, with gains in healthcare, social assistance, and business services, but a large loss in leisure and … Continue reading U.S. job creation cools in June with payrolls growth of just 57,000