- Live updates on markets and the top finance, economics and business stories. Plus the latest on oil prices, the Dow, S&P 500 and Nasdaq.
- Apollo Global Management Inc. is once again limiting withdrawal requests from its largest non-traded private credit fund for retail investors, as broader concerns about the asset class persist.
- Longstanding Federal Reserve chair was lionised in office — but his legacy was reassessed in the financial crisis
- For 19 years, he piloted the U.S. economy through global upheaval. Critics faulted his hands-off approach to financial regulation.
- Blackstone-led consortium to take over software company and inject $150mn to help cut its debt load
- Beverages to make your bivalves sing
- SpaceX criticized the European Union’s plans for the distribution of satellite spectrum, a key element in the growth plans for the Elon Musk-led company’s Starlink service following its record-setting initial public offering.
- Analysts expect high withdrawals to last more than year, increasing risk of forced liquidations
- Amazon.com Inc. is in talks to sell its custom-made artificial intelligence chips for use in other companies’ data centers, a key expansion of its efforts to cut into Nvidia Corp.’s dominance.
- Accenture Plc said it’s expecting to reel in less revenue in the coming months, as artificial intelligence upends the consulting services industry and clients paused business due to the conflict in the Middle East.
- Fried, served with a burger-style garnish – there’s a dozen new ways to eat them
- It was 180 degrees off the hot trade on Wall Street.
- AI tools and changes to contracts for 19,000 sales agents appear to be a response to the insurer’s eroding status in the industry.
- Bosses are falling out of fashion. What should these jobs look like?
- The US and Iran are expected to formally sign a memorandum of understanding on June 19 in Switzerland, paving the way for 60 days of talks aimed at ending their war for good and putting strict new limits on Iran’s nuclear program.
- Manage SpaceX IPO inclusion volatility across the Nasdaq-100, S&P 500, and Russell 1000 indices using liquid CME Group equity futures and BTIC functionality.
- BMW AG said its profit margin will dwindle to as little as 1% this year as weakening Chinese demand and fallout from the Middle East conflict take a growing toll on what had been Germany’s most resilient automaker.
- Plus, the U.S.-Iran deal lets Tehran sell oil immediately, and a former drug dealer’s shows make millions without Hollywood
- Whirlpool Corp.’s website proudly states, “Started in America. Stayed in America.” The self-styled “America’s Home Appliance Company” has used this kind of patriotic framing to justify its decades-old campaign for government protection from foreign competition – protection Whirlpool has repeatedly won. The company has thus become a protectionist poster child among tariff fans in both government and the private sector.
- SpaceX formally agreed to take over Cursor in a deal that values the artificial intelligence coding startup at $60 billion, cementing a key part of Elon Musk’s efforts to catch up with rivals on coding tools.
- Fox Corp. agreed to acquire Roku Inc. in a deal valued at about $22 billion including debt, creating a new television juggernaut and marking a big push into ad-supported streaming.
- The Bank of Japan raised its benchmark interest rate to the highest since 1995 and pledged to continue raising rates, fueling speculation of another move before the end of the year.
- Should every new house require a new permit for its design? Claremore, Oklahoma, does not think so.
- The stock market is starting to expand again after years of shrinking — and potentially at a scale not seen since the dot-com era.
- Even in a decade marked by economic damage, some players have thrived from the disruption
- The fintech’s model is proving more suitable for international scaling than the often outdated systems of legacy rivals
- Two-ton satellites, laser communications, in-space mobility ships and more are drawing attention and new funding.
- Windfall bonus for workers drives up property prices and department store purchases
- ¯\_(ツ)_/¯
- Shareholders ask to redeem more than last quarter, though withdrawals to be capped at 5% again
- Lab-grown cocoa is the latest synthetic commodity to challenge a natural product
- Market debuts of SpaceX, Anthropic and OpenAI plus slowing buybacks could remove vital support for equities, investors warn
- Bullion set for worst quarter in almost a decade as Iran war, expectations of US rate rises and SpaceX IPO weigh on price
- Amazon founder lays out vision for new $41bn AI lab Prometheus
- US producer prices rose in May at the fastest pace in more than three years as the fallout from the Iran war continued to fan inflation pressures.
- Bank hopes other financial institutions will become involved
- The software giant reported higher spending associated with its massive infrastructure expansion, despite rising profit and revenue.
- The closure of the Strait of Hormuz and ensuing jump in energy prices has dramatically altered the paths for central banks around the world.
- The company might lower prices for tokens, the central unit for gauging AI costs, though the discussions are still in flux
- Goldman Sachs Research analysts introduce the "HALO" framework—Heavy Assets, Low Obsolescence—to identify companies that are less exposed to technological obsolescence.
- Oracle Corp. shares declined in extended trading after the company reported quarterly capital expenses that were higher than estimates, raising investor concerns about the profitability of the AI infrastructure business.
- Chair of People Inc views $18bn takeover bid for casino group as hedge against magazine business
- America’s Car-Mart Inc., a used car seller and subprime lender, is working on an eleventh hour capital raise to stave off a potential bankruptcy filing after a cash crunch put the company on the verge of default, according to people familiar with the matter.
- Private equity “lost its way a little bit” during the easy-money era and firms will “have to start capitulating for sure on valuations” after borrowing costs normalized, warned Scott Kleinman, co-president of Apollo Global Management Inc.
- A “constipated” private equity industry must compromise on price to shift assets built up in the boom era, and some buyout houses could disappear altogether, senior executives say.
- The Truflation CPI Index utilize modern consumer and spending data sets along with cutting-edge technology to deliver the world’s only verifiable daily inflation indexes. Traditional century-old metrics lag an economy reshaped by Covid-19, money-supply growth, and fragile global supply chains, yet the markets continues to rely on old metrics established over a century ago.
- Gains are spurred by the strength of profits rather than rising valuations or speculative fervour