Business
All the latest news stories about the business world: mergers, IPOs, trends, personalities, and more
Musk Buys $1B in Tesla Stock in Rare Move
Tesla shares surged Monday after CEO Elon Musk disclosed a $1 billion open-market purchase of 2.57 million shares, his largest buy ever and first since 2020.
U.S. and China Strike Framework Deal on TikTok
The U.S. and China have agreed on a framework deal for TikTok that could transfer control of the platform to U.S. ownership.
United CEO Says Spirit Airlines is Doomed
United Airlines CEO Scott Kirby bluntly predicted that Spirit Airlines is "going out of business," criticizing the ultra-low-cost model as unsustainable.
Google Adds 'Purchases' Tab to Gmail for Easier Package Tracking
Google is rolling out a new “Purchases” tab in Gmail, giving users a centralized view of all their order and shipping emails.
DOJ Sues Uber for Discriminating Against Passengers with Disabilities
The U.S. Department of Justice has filed a federal lawsuit against Uber, accusing the company of systematically discriminating against disabled passengers.
Sources: Paramount Skydance May Bid for Warner Bros. Discovery
Sources say Paramount Skydance is working with an investment bank on an all-cash bid for Warner Bros. Discovery.
Microsoft & OpenAI Strike New Deal to Restructure Partnership
Microsoft and OpenAI have signed a non-binding agreement to redefine their partnership, allowing OpenAI to restructure into a for-profit company.
The Fabric of Success: BrilliA’s CEO on Innovation, IPO, and Market Leadership
Kendrew Hartanto, CEO of BrilliA (NYSE: BRIA), shares how the company stitched its path to IPO and redefined leadership in women’s undergarments.
Big Business This Week: Oracle soars as it cashes in on the AI boom
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Why are Marvel movies losing more money, lately?
Ever since Disney paid $4 billion for the Marvel franchise in 2009, their movies have been making less and less money. What’s going on?
Gotta Collect 'Em All: Pokémon Cards Outperform Wall Street
Pokémon cards aren’t just a nostalgic hobby, they’ve quietly become one of the best-performing investments of the past two decades.
Novo Nordisk Slashes Jobs Amid Lilly Pressure
Novo Nordisk is laying off 9,000 employees, about 11% of its global workforce, as it faces intense competition in the booming weight-loss drug market.
Klarna Makes a Splash: Swedish Fintech Surges in IPO Debut
Klarna’s shares jumped 15% in their New York Stock Exchange debut Wednesday, closing at just above $45 after pricing at $40.
OpenAI’s $300B Cloud Splurge Supercharges Oracle
OpenAI has reportedly committed to spending a staggering $300 billion on Oracle’s cloud services over five years starting in 2027.
Ellison Overtakes Musk: Oracle Co-Founder Tops Billionaire List
Oracle co-founder Larry Ellison became the world’s richest person Wednesday after a surge in Oracle stock pushed his net worth to $393 billion.
Klarna shares jump 30% on Wall Street debut
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Musk loses crown as world’s richest to software giant Larry Ellison
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
