Starlink Becomes SpaceX’s Profit Engine
The Growth Story Behind The IPO SpaceX is best known for reusable rockets and its high-profile push into artificial intelligence through its merger with xAI. But as Elon Musk’s company prepares investors
Schlitz Beer Retired After 177 Years
A Milwaukee Icon Reaches Its End Schlitz beer, one of Milwaukee’s most historic brands and once the largest brewer in America, is being retired after 177 years. Pabst Brewing Company, which owns
Meta Layoffs Deepen AI Workforce Anxiety
A Different Tone From Zuckerberg Meta is preparing another major round of job cuts, but the message from the top is different from the one employees heard during the company’s first post-pandemic
Costco Exceeds Expectations Despite Tariff Concerns
Costco reported impressive fiscal third-quarter results on Thursday, surpassing Wall Street’s expectations with an 8% rise in sales. The warehouse club retailer posted earnings per share of $4.28, beating the expected $4.24,
Abercrombie Shares Surge Despite Profit Outlook Cut
Shares of Abercrombie & Fitch soared on Wednesday, even as the retailer slashed its profit outlook due to the impact of tariffs, which are expected to cost the company $50 million. Despite
Stellantis CEO Antonio Filosa Faces Pressure to Revive U.S. Sales
U.S. dealers of Jeep SUVs and Ram pickup trucks are looking to new Stellantis CEO Antonio Filosa to reverse months of disappointing sales and restore trust in the brand. Filosa, a 51-year-old
Tesla’s European Sales Drop Amid Competition and Issue
Tesla’s sales in Europe plunged significantly in April, with the U.S. electric vehicle maker facing a 49% year-on-year decline despite an overall surge in battery electric car sales. Tesla sold just 7,261
Exxon and Hess Face Off in Court Over Chevron’s $53B Deal
Exxon Mobil (XOM.N) and Hess (HES.N) are set to meet in court on Monday for a critical hearing that will determine the fate of Chevron’s (CVX.N) $53 billion acquisition of Hess. The
Volvo Cars to Lay Off 3,000 Jobs Amid Restructuring Efforts
Volvo Cars announced plans to cut 3,000 mostly white-collar jobs as part of a restructuring effort aimed at reducing costs and adapting to a slowdown in electric vehicle demand and ongoing trade
Tencent and Baidu Tackle U.S. Chip Curbs in AI Race
As the U.S. tightens restrictions on key semiconductor exports, Chinese tech giants Tencent and Baidu are adapting their strategies to remain competitive in the global artificial intelligence (AI) race. Both companies are
BYD Shares Drop After Price Cuts, Investors Concerned
Shares of Chinese electric vehicle (EV) giant BYD plunged as much as 8.25% on Monday, a sharp decline from their record high last week, following the company’s announcement of price cuts on
TD Bank Announces 2% Workforce Layoff to Cut Costs
TD Bank (TD.TO) revealed Thursday that it will lay off 2% of its workforce, equating to approximately 2,000 employees, as part of a broader restructuring effort. This move aims to reduce costs
BYD Surpasses Tesla in European EV Sales
In a significant shift in the European electric vehicle (EV) market, Chinese automaker BYD has overtaken Tesla in sales for the first time. According to a report by JATO Dynamics, BYD sold