SpaceX has committed $2 billion to xAI as part of a $5 billion equity round, deepening the ties between tech billionaire Elon Musk’s ventures as his artificial intelligence startup races to compete with rival OpenAI, the Wall Street Journal reported on Saturday. The investment follows xAI’s merger with X and values the combined company at […]
Tesla, Inc. (NASDAQ:TSLA) is the world’s largest electric vehicle manufacturer. Cramer has discussed the firm regularly in his morning shows this year. The CNBC TV host believes that Tesla, Inc. (NASDAQ:TSLA) narrative should be driven by humanoid robots and self-driving instead of EV deliveries. The shares have lost 18.3% year-to-date as investors have fluctuated from […]
Kraft Heinz is studying a potential spin off of a large chunk of its grocery business, including many Kraft products, into a new entity that could be valued at as much as $20 billion on its own, a source familiar with the matter said on Friday. However, the structure of the deal could change and […]
Shareholders of Walgreens Boots Alliance (WBA) overwhelmingly approved the drugstore chain’s $10 billion acquisition by private equity firm Sycamore. It is a rough era for national pharmacy chains like Walgreens, CVS, and Rite-Aid, closing hundreds of stores due to changing consumer behavior, declining pharmacy reimbursements and rising costs. Walgreens will close more than 1,000 stores […]
Chinese traders are pulling back from the dollar, helping ease a shortage that has rattled the banking system and setting the yuan up for further gains. The dollar’s premium over the yuan, as reflected in 12-month swap points, has narrowed by 25% since the end of December. Chinese state-owned banks have gradually shifted from wanting […]
US stock futures fell on Friday after President Trump threatened Canada with a 35% tariff on its imports to the US and floated higher blanket levies. Futures tied to the S&P 500 (ES=F) fell 0.5% and the tech-heavy Nasdaq (NQ=F) fell around 0.4% after the two indexes rose to eke out record highs on Thursday. […]
(Reuters) -U.S. cosmetics retailer Ulta Beauty is on the verge of a deal to buy British high street chain Space NK, Sky News reported on Thursday, citing a source. The exact price being paid by Ulta was unclear, the report said, adding that the deal value was likely to be well in excess of 300 […]
German carmaker BMW reported a slight increase in second-quarter deliveries on Thursday, as growing demand in Europe offset a slump in China. In the April-to-June period, deliveries of BMW, MINI and Rolls-Royce vehicles increased by 0.4% year on year to 621,271 units, the company said. BMW & MINI sales rose by 10.1% in Europe and […]
Apple Inc. Chief Operating Officer Jeff Williams is retiring as the company’s longtime No. 2, marking a major changing of the guard at an already tumultuous time for the iPhone maker. Williams will step down as COO this month before retiring from the company later in the year, Apple said in a statement Tuesday. He […]
Let the games begin. The ultimate shopping showdown is underway. Amazon’s (AMZN) Prime Day deals will take center stage for most shoppers this week as the company extends its signature shopping period to four days. But this year, as in recent years, Amazon is not alone. Walmart (WMT), which showed a profit in its US […]
European shares were muted on Tuesday as investors assessed U.S. President Donald Trump’s new tariff proposals for a spate of countries. The pan-European STOXX 600 index was flat at 543.22 points, as of 0710 GMT. On Monday, Trump sent letters to 14 countries, including Japan and South Korea, unveiling sharply higher tariffs on imports into […]
China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains. Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but […]
