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Business News

Location American Business News for 16 May 2025
Meta delays release of flagship 'Behemoth' AI model as engineers struggle: report Meta had called the Llama 4 Behemoth "one of the smartest LLMs in the world and our most powerful yet to serve as a teacher for our new models."
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UK needs more nuclear to power AI, says Amazon boss The world's largest cloud computing company plans to spend £8bn on new data centres in the UK over the next four years.
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Trump's Computer Chip Deals With Saudi Arabia and UAE Divide US Government Big deals to sell chips to the U.A.E. and Saudi Arabia have divided the U.S. government over whether they could be remembered for shipping cutting-edge A.I. overseas.
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Home builders and buyers face bleak picture this spring. Weak housing starts illustrate why. Spring is usually the time when construction companies build more homes in anticipation of rising sales. But for the third year in a row the picture in the housing market is bleak.
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Virgin Galactic's stock is skyrocketing. This is why. Space-tourism company Virgin Galactic expects that private astronauts will pay more than $600,000 for a ticket on its new Delta class SpaceShips
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Bank of America says conditions are emerging for these unloved stocks to thrive. Emerging markets are the next hot spot for investors, says Bank of America. Here's why.
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Temu And Shein Still Caught In Crossfire Of De Minimis Shake-Up While the Trump administration announced a temporary trade deal Monday slashing tariffs on Chinese goods, the rules on de minimis deliveries still include a $100 charge.
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Inside the Rift Over Trump's A.I. Deals in the Gulf

The New York Times - 16 May 2025 14:48
Inside the Rift Over Trump's A.I. Deals in the Gulf The president's Middle East visit produced multibillion-dollar technology investments by the Saudis and Emiratis. But they face political pushback at home.
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Dick's Acquires Foot Locker For $2.4 Billion, Building Share In Sports And Sneaker Markets Dick's, the retail leader in sporting goods, will acquire Foot Locker, the leading specialty footwear retailer, for $2.4 billion. Both depend heavily on sneaker sales.
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Ripple Confirms XRP Victory Stands as SEC Deal Collapses in Court XRP's regulatory clarity remains rock-solid as Ripple's legal chief confirms its non-security status is untouched, even after a court setback stalls a proposed SEC deal. Ripple Legal Chief Defuses Panic After Court Rejec...
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Wisconsin Investment Board sold off its Bitcoin ETF stash The State of Wisconsin Investment Board (SWIB), which oversees the state’s retirement funds, unloaded its shares in BlackRock’s iShares Bitcoin Trust ETF (IBIT) during the first quarter, filings show. The Wisconsin I...
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Rite Aid To Sell Pharmacy Assets From More Than 1,000 Stores To CVS, Walgreens And Grocers CVS Health, Walgreens and grocers Kroger and Albertsons are among the buyers Rite Aid is selling prescription files and related assets to from more than 1,000 stores.
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Retailers including Walmart and Mattel are raising prices to cover extra costs imposed by President Trump's tariffs on foreign imports.
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Mark Zuckerberg's Meta refuses to crack down on rampant scams from bogus ads to avoid losing revenue: report Tech giant whose digital properties include popular social networks Facebook and Instagram is under scrutiny over its role in enabling online scams.
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Moody's strips America of its Triple-A credit rating -- here's why Moody's was the last among major ratings agencies to keep a top, triple-A rating for US sovereign debt, though it had lowered its outlook in late 2023 due to wider fiscal deficit and higher interest payments.
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Filecoin, Lockheed Martin send data in space using decentralized data protocol The Filecoin Foundation and Lockheed Martin Space have successfully transmitted data in space using a version of the InterPlanetary File System (IPFS) on a satellite orbiting Earth, Marta Belcher, president of the Fileco...
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What the Pope Was Like as a Kid

The New Yorker - 16 May 2025 23:37
Bobby was a good guy. But sometimes he'd do weird shit like put his hand on my head, unprompted, which was annoying.
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Moody's Downgrades U.S. Credit Rating Below Triple-A

The New York Times - 16 May 2025 23:36
Moody's Downgrades U.S. Credit Rating Below Triple-A The downgrade means that each of the three major credit rating firms no longer gives the United States its best rating.
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Epic Games Apple has blocked Epic's submission of Fortnite to the U.S. Apple App Store and the Epic Games Store for iOS in the EU.
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On Friday, the agency changed its outlook on the U.S. to "stable" from "negative."
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UFC 319 Main Event | Dricus Du Plessis Vs Khamzat Chimaev Opening Odds We look at the opening betting odds for the main event of the UFC 319 fight card, a middleweight title fight between champion Dricus du Plessis and Khamzat Chimaev.
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Webull Pay Taps Coinbase for Crypto Trading, Custody Infrastructure Coinbase will provide cryptocurrency trading, custody, and staking services to Webull Pay through its Crypto-as-a-Service (CaaS) platform starting in June 2025, the two companies announced Friday. Coinbase to Provide Bac...
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