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Oil Prices Surge Amid US-Iran War Deadlock

Oil prices extended gains on Thursday amid concerns that supply disruptions caused by the US-Iran war will persist. Brent crude futures for June rose $1.91, or 1.62%, to $119.94 a barrel as of 0057 GMT after gaining 6.1% in the previous session according to Reuters . The June contract, which has inc

Apr 26, 6:54 AM ET Est. Read: 4 Mins

29 articles from 6 publishers

BusinessTechnology

SK Hynix Posts Record $25B Profit on AI Chip Demand

SK Hynix, the world's second-largest memory chipmaker, reported a record first-quarter operating profit of $25 billion , marking a fivefold increase from the same period last year. The company's sales nearly tripled to $35.6 billion year-on-year, resulting in an unprecedented operating profit margin

Apr 24, 12:35 PM ET Est. Read: 1 Mins

10 articles from 3 publishers

BusinessCorporate

Nike Cuts 1,400 Jobs in Efficiency Push

Nike announced it will cut approximately 1,400 jobs in its global operations division as part of a broader efficiency push. The layoffs primarily affect technology workers across North America, Asia, and Europe. The job cuts are the latest step in Nike's turnaround strategy under CEO Elliott Hill, w

Apr 24, 10:37 AM ET Est. Read: 1 Mins

3 articles from 3 publishers

More Business Summaries

Markets

Bank of England Warns Global Stock Markets Overvalued

The Bank of England has warned that global stock markets are overvalued and likely to fall as current share prices do not fully reflect the many risks facing the global economy. Sarah Breeden, deputy governor for financial stability, made this warning in an interview with BBC , emphasizing that asse

Apr 24, 6:21 AM ET·2 min read

4 articles from 4 publishers

Automotive

Porsche Sells Stakes in Bugatti Rimac

Porsche has agreed to sell its stakes in sportscar makers Bugatti and Rimac to a consortium led by HOF Capital, co-founded by Onsi Sawiris. According to multiple reports, Porsche will divest a 45% stake in Bugatti Rimac, the joint venture hosting the iconic Italian brand, as well as a 20.6% stake in

Apr 24, 6:21 AM ET·1 min read

3 articles from 3 publishers

Automotive

Chinese Automakers Expand Globally Amid Domestic Sales Decline

Chinese automakers are aggressively expanding into global markets amid declining domestic sales and intense competition. According to TimesLIVE, China exported 5.8 million cars in 2023, an increase of almost 20% from the previous year, with overall vehicle exports expected to grow by 4% to reach 7.4

Apr 23, 7:39 PM ET·3 min read

23 articles from 5 publishers

Corporate

Lockheed Martin Sees Growth in Trump's Pentagon

Lockheed Martin's CEO Jim Taiclet described the Trump administration as a 'golden opportunity' for the company's growth during an earnings call on Thursday. The defense contractor is expanding its work with the federal government amid heightened demand driven by conflicts in the Middle East and othe

Apr 23, 7:39 PM ET·1 min read

3 articles from 3 publishers

Corporate

Meta Cuts 8,000 Jobs as AI Spending Soars

Meta plans to cut approximately 8,000 jobs , or 10% of its workforce , starting May 20 as part of a broader restructuring aimed at bolstering its artificial intelligence (AI) initiatives. The company announced the job cuts in an internal memo on Thursday. The layoffs come as Meta accelerates its inv

Apr 23, 3:56 PM ET·2 min read

6 articles from 5 publishers

Corporate

Warner Bros Shareholders Approve $110B Paramount Merger

Warner Bros. Discovery shareholders have approved an $110 billion merger with Paramount Skydance, marking a significant step in reshaping the media landscape. The deal still requires approval from the U.S. Department of Justice and European competition regulators before it can be finalized by Septem

Apr 23, 11:42 AM ET·3 min read

12 articles from 9 publishers

Economy

Global Jet Fuel Crisis Threatens Air Travel

The ongoing conflict in the Middle East has triggered a global crisis in jet fuel supplies. The Strait of Hormuz remains closed, disrupting crude oil imports for major refining nations like South Korea, Singapore, India, and Japan. Jet fuel prices have more than doubled since February, reaching as h

Apr 23, 7:49 AM ET·1 min read

7 articles from 7 publishers

Corporate

Sun Sues Trump's Crypto Firm Over Alleged Fraud

Cryptocurrency billionaire Justin Sun has sued World Liberty Financial , a digital currency venture co-founded by President Donald Trump and his sons, alleging fraud and illegal freezing of his tokens worth up to $billion. The lawsuit, filed on Tuesday in California federal court, accuses the compan

Apr 22, 3:29 PM ET·3 min read

5 articles from 5 publishers

Technology

Tesla Reports $1.4B Surplus Amid AI Spending Push

Tesla reported a surprise cash surplus of $1.44 billion in the first quarter of 2026, providing temporary financial relief as it prepares for substantial investments in AI development and robotics. The company expects negative free cash flow for the rest of the year due to its ambitious $25 billion

Apr 22, 1:09 PM ET·2 min read

9 articles from 5 publishers

Legal

NY AG Sues Coinbase, Gemini Over Illegal Gambling

New York Attorney General Letitia James has filed lawsuits against cryptocurrency companies Coinbase and Gemini Titan , alleging that their prediction markets violate state gambling laws. According to multiple reports, the lawsuits were filed on Tuesday in Manhattan state court. The Attorney General

Apr 22, 1:09 PM ET·2 min read

4 articles from 3 publishers

Economy

Karex to Raise Condom Prices Amid Iran War Supply Chain Disruptions

The world's largest condom manufacturer, Karex Bhd. , plans to raise prices by 20% to 30% due to supply chain disruptions caused by the Iran war. According to multiple reports, Karex CEO Goh Miah Kiat stated that production costs have risen sharply since the conflict began in late February. The Mala

Apr 21, 11:42 PM ET·2 min read

5 articles from 5 publishers

Corporate

SpaceX Targets $1.75T Valuation in Record IPO

SpaceX is targeting a record-breaking valuation of nearly $1.75 trillion for its upcoming initial public offering (IPO), which could make it the largest IPO in history. The company is seeking to raise approximately $75 billion , according to multiple reports. The rocket and satellite maker has secur

Apr 21, 9:34 PM ET·3 min read

16 articles from 3 publishers

Markets

Polymarket Seeks $400M Fundraise at $15B Valuation

Polymarket, an online prediction market platform, is in discussions to raise $400 million in funding at a valuation of up to $15 billion according to The Guardian and The Information . This potential fundraising round represents a significant increase from the company's previous valuation. According

Apr 21, 5:06 PM ET·1 min read

3 articles from 3 publishers

Technology

John Ternus to Lead Apple Amid AI Challenges

John Ternus will take over as CEO of Apple from Tim Cook in September, facing significant challenges including catching up with competitors in artificial intelligence (AI) and diversifying revenue beyond the iPhone. According to The Guardian , Ternus is moving up from his role as head of engineering

Apr 21, 3:10 PM ET·4 min read

8 articles from 4 publishers

Automotive

VW Adds AI Agents to China Cars

Volkswagen Group plans to equip new cars built for the Chinese market with AI 'agents' starting in the second half of this year. The move aims to help Volkswagen catch up with advanced technology offered by Chinese automakers, as reported by TimesLIVE , Reuters , and CNBC . The German carmaker annou

Apr 21, 11:08 AM ET·2 min read

4 articles from 3 publishers

Legal

Prosecution Rejects Arrest Warrant for Hybe Chairman Bang

Prosecutors in South Korea have rejected a police request for an arrest warrant against Bang Si-Hyuk , the founder and chairman of K-pop powerhouse Hybe, citing insufficient evidence. The Seoul Southern District Prosecutors' Office returned the arrest warrant request filed earlier this week to the p

Apr 21, 8:54 AM ET·2 min read

5 articles from 4 publishers

Corporate

ABF to Split Primark from Food Businesses by 2027

Associated British Foods (ABF) has announced plans to split its fashion chain Primark from its food businesses by the end of 2027. The company stated that both entities will be stronger as standalone companies with their own boards and dedicated investors. The demerger will separate Primark, which o

Apr 21, 6:56 AM ET·2 min read

5 articles from 3 publishers

Corporate

Tim Cook Steps Down as Apple CEO

Tim Cook will step down as CEO of Apple on September 1 , transitioning to an executive chairman position after nearly 15 years in the role. He will be succeeded by John Ternus , a senior vice president of hardware engineering at Apple who has been with the company for more than two decades. During C

Apr 20, 6:06 PM ET·3 min read

25 articles from 14 publishers

Economy

US Launches $166B Tariff Refund Portal

The federal government has launched an online portal for businesses to request $166 billion in tariff refunds after the Supreme Court ruled President Donald Trump's tariffs unconstitutional. According to multiple sources, U.S. Customs and Border Protection (CBP) began accepting claims on Monday thro

Apr 20, 2:01 PM ET·2 min read

6 articles from 5 publishers

Economy

Spirit Airlines Shuts Down After Bailout Fails

Spirit Airlines officially ceased operations on Saturday, May 4, 2026, after failing to secure a $500 million bailout from the Trump administration. The shutdown leaves over 17,000 employees without jobs and affects thousands of passengers who had booked flights with the airline. The collapse comes

Apr 18, 1:42 AM ET·4 min read

61 articles from 16 publishers

Corporate

Judge Blocks Nexstar-Tegna Merger Over Antitrust Concerns

A federal judge has blocked Nexstar Media Group's $6.2 billion takeover of rival Tegna , according to multiple reports. Chief Judge Troy Nunley of the Eastern District Court of California issued a preliminary injunction on Friday, requiring Nexstar to operate the acquired stations separately until a

Apr 18, 12:01 AM ET·3 min read

6 articles from 6 publishers

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Business

Oil Prices Surge Amid US-Iran War Deadlock