Uber and Waymo Settle Lawsuit, Government Passes Spending Bill
Uber settled its headline-grabbing lawsuit with Alphabet's self-driving car unit Waymo. The ride-hailing giant will pay its competitor $245 million to bring the legal drama to an end. Waymo accused Uber of stealing trade secrets related to driverless technology.
The second government shutdown in less than a month is over. 73 House Democrats voted in favor of the massive spending bill while 67 Republicans voted against it. The bill includes almost $90 billion for disaster relief.
Call it a holy hacking! The Vatican's news website was breached by a Belgian hacker who said he was proving a point about the importance of cybersecurity. The hacker changed the headline of an article to "Pope Francis Declares the Lord Is an Onion."
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?
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..
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.
