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Business News

Location American Business News for 20 September 2024
Warner Music slashing 750 jobs -- or 13% of workforce -- in major restructuring In February, Warner Music, home to artists such as Dua Lipa and Teddy Swims, said that it would cut 600 employees - about 10% of its workforce.
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Economy worries swirl after 'painful' Budget warning Some economists have linked a drop in consumer confidence to officials' warnings of a painful Budget.
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The US economy could get hit by a double whammy on September 30, if 2 major negotiations are not hammered out Congress needs to pass a spending bill by September 30 to avoid a partial government shutdown. Dockworkers and ports must strike a contract by the same date.
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Nike's shares are rallying after it named a new CEO. One analyst says it still has work to do. Elliott Hill will replace John Donahoe as chief executive next month, following months of struggles for the athletic-wear giant.
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Harrods Will Be Sued by Mohamed al-Fayed's Alleged Victims, Lawyers Say Attorneys for 37 women said they would sue Harrods, the luxury department store, over the rape and sexual assault they say its former owner committed.
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Microstrategy, led by Michael Saylor, has just completed a billion-dollar private offering before acquiring 7,420 bitcoin for approximately $458.2 million at an average price of $61,750 per coin. The company now holds 25...
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Stocks at risk of a bubble after Fed's jumbo rate cut, BofA strategist says One Bank of America strategist thinks the Federal Reserve's decision to cut interest-rates by 50 basis points this week will ultimately end in tears for investors.
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The Fed spurred a big rally in Nvidia and other chip stocks. Is it sustainable? Fed commentary could give a further shot in the arm to AI names that have been market leaders, but the broader semiconductor sector still faces challenges and skepticism.
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Three Mile Island nuclear plant to reopen — to power Microsoft's AI push Tech giants, including Microsoft, are increasingly exploring nuclear energy as a power source for energy-hungry AI data centers.
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Trump suggests capping annual credit card interest rates at 10% -- but critics fear 'price controls' "Trump just proposed his own version of price controls," one economist said.
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Nike boss steps down as company veteran returns The company looks to shake things up as demand for its trainers falters in international markets.
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Blackrock's Ishares Bitcoin Options Get the SEC Green Light The U.S. Securities and Exchange Commission (SEC) has granted approval for the listing and trading of options on the Ishares Bitcoin Trust (IBIT), a product by Blackrock. This decision introduces a new financial instrume...
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Disability rights campaigner Adam Pearson stars alongside Sebastian Stan in A24's new movie "A Different Man." Here's what to know about him.
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Solana prepares for possible 'sizable' move after defending $120 support SOL price bounced off the $120 support multiple times since April, leading traders to believe that the current market recovery will lead to an explosive rally.
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US Navy's new submarines are 'in crisis' as costs balloon by $17 billion, lawmaker says The Navy's nuclear-powered Virginia class sub, which it's supposed to build two of a year, is facing major delays and ballooning costs.
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Top Fed official warns jumbo rate cut is declaring victory over inflation too soon JP Morgan Chase CEO Jamie Dimon echoed Bowman's fears, saying he wouldn't "count my eggs" that the rate cuts will deliver the US economy a soft landing.
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Tech giants desperate to power AI data centers are turning to nuclear disaster sites -- despite the risks The tech industry's need for more power for data centers running artificial intelligence is now so desperate that companies are turning to nuclear disaster sites, despite the potential risks.
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Here are some of the major companies whose stocks moved on the week's news.
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GamesBeat's Rachel Kaser got to play several hours of Dragon Age: The Veilguard -- and the gameplay is the shot in the arm the series needs.
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Intel jumps after WSJ reports Qualcomm approached the struggling chipmaker about a deal Intel was once the largest chipmaker and a US technology powerhouse. Around 2018, this leadership began to crumble as TSMC steadily moved ahead.
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Gold's Bull Rally Continues as Interest Rates Get Deep Cuts The gold bull rally continued this Wednesday, as prices in COMEX reached all-time highs, surpassing $2,625 per ounce. Prices slingshotted up after the Federal Reserve announced larger interest rate cuts than some economi...
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Qualcomm Approached Intel About a Takeover in Recent Days

Wall Street Journal - 20 Sep 2024 23:29
A deal for Intel would be massive and come at a time when the chip maker is sputtering.
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