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
SoftBank’s $40B OpenAI Bet Breaks Startup Records
Massive investment eclipses all previous private funding rounds SoftBank has committed up to $40 billion in financing to OpenAI, marking the largest startup investment in history. The figure dwarfs all previous venture
GM Reports 17% Surge in Q1 U.S. Vehicle Sales
Automaker sees growth across all brands, EV sales nearly double General Motors announced a robust 17% increase in U.S. sales for the first quarter, with all four of its brands—Chevrolet, Cadillac, GMC,
Huawei Sees 28% Profit Drop Amid Record R&D Spending
Revenue grows at fastest pace in five years, boosted by consumer tech Huawei Technologies reported a 28% fall in net profit for 2024, totaling 62.6 billion yuan ($8.63 billion), as the Chinese
Ferrari to Raise U.S. Prices by 10% Amid Tariffs
Price hikes on select models Ferrari said Thursday it will raise prices by 10% on certain models after April 1 in response to new U.S. auto tariffs, adding up to $50,000 to
British Steel Blast Furnaces Face Closure by June
Thousands of Jobs at Risk Amid Tariffs and Environmental Pressures China-owned British Steel said it could shutter its two blast furnaces in Scunthorpe as soon as June, potentially putting up to 2,700
UBS Offers Concessions to Avoid Tougher Swiss Rules
UBS Seeks Compromise on Regulation Two years after acquiring Credit Suisse, UBS is trying to preempt stricter regulatory measures by offering to limit its investment banking division and increase capital holdings, according
Hyundai to Build $5.8B U.S. Steel Plant in Louisiana
Massive investment aims to sidestep Trump tariffs, but investor doubts linger Hyundai Steel and its parent, Hyundai Motor Group, announced plans to build a $5.8 billion steel plant in Louisiana, aiming to
Berkshire Employee Wins Buffett’s $1M Bracket Challenge
FlightSafety staffer nails 31 first-round picks to claim prize For the first time since Warren Buffett launched his $1 million NCAA bracket contest nearly a decade ago, a Berkshire Hathaway employee has
BYD Q4 Profit Soars 73% on EV Price War Gains
Chinese EV Giant Sets Record as It Tops Volkswagen in Sales Chinese electric vehicle leader BYD reported a record fourth-quarter net profit of 15 billion yuan ($2.1 billion), a 73.1% increase over
23andMe Files for Bankruptcy Amid Privacy Concerns
Company Seeks Buyer as Customers Worry Over Genetic Data Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy, triggering alarm over the fate of genetic and personal data from its more