Finance

Amazon’s ambitious plan to monetize Alexa-enabled devices has hit some serious roadblocks, with reported losses exceeding $25 billion. Despite widespread usage, customers seem more inclined to use these gadgets for simple tasks rather than shopping. As Amazon explores new strategies, including a potential paid version of Alexa, doubts linger among engineers about its effectiveness. Meanwhile,…

In a bold move, Wiz has rejected a staggering $23 billion acquisition offer from Google, setting the stage for potential upheaval in the tech world. With an eye on becoming a $1 billion revenue powerhouse and planning for an IPO, Wiz’s decision could have far-reaching implications for competitors like Microsoft. What does this mean for…

New revelations from a detailed investigation into pharmacy benefit managers (PBMs) raise critical questions about their role in the escalating costs of medications. With findings suggesting that these intermediaries may be steering patients towards pricier drug options while limiting pharmacy choices, the implications could be profound. Are PBMs prioritizing profits over patient care? Discover what…

As major banks ramp up their provisions for credit losses amid soaring interest rates and inflation, a storm brews on the horizon for lenders and consumers alike. Delinquent debts are on the rise, and experts warn that the real challenges lie ahead. What does this mean for your finances? Discover the implications for lending practices,…

In a surprising turn of events, the housing market is witnessing a surge in buyers walking away from their home purchases. With nearly 15% of contracts canceled just last month, discover what factors are driving this newfound selectivity and how affordability issues are reshaping home-buying strategies. Don’t miss the insights from real estate experts who…

Hamet Watt is poised for a fresh start after MoviePass, embarking on an exciting journey with his new venture studio, Share Ventures. With nearly $20 million in backing from major investors, this initiative promises to shake up the startup landscape. Delve into Watt’s vision for the future of work and longevity, and discover the innovative…

In a bold move, the Federal Reserve has slashed interest rates for the first time in years, signaling a shift in priorities from fighting inflation to bolstering job growth. With plans for more reductions this year, the implications for borrowers and savers could be profound. What does this mean for the U.S. economy and the…

In a surprising shakeup, all seven members of the 23andMe board have stepped down, casting uncertainty over the company’s ambitious plans to go private. CEO Anne Wojcicki remains at the helm, but the fallout from this mass resignation reveals deeper divisions and challenges within the organization. What does this mean for the future of the…

The Federal Reserve’s recent interest rate cut has sparked speculation about its potential impact on the housing market, but will it really lead to lower mortgage rates? With talk of easing monetary policy and lingering economic uncertainty, many are left wondering what this means for buyers and the overall market landscape. Explore the complexities of…

Tomorrow’s stock market is bracing for significant volatility following President Biden’s unexpected announcement not to seek reelection. With a swift endorsement of Vice President Harris as the Democratic nominee, investors face fresh uncertainties. Will safe-haven assets emerge as the preferred choice amidst political shifts? And what implications lie ahead for market trends influenced by the…

Delta Air Lines is grappling with major disruptions, having faced thousands of canceled and delayed flights due to a global software outage. This incident has raised concerns not only for travelers but also for the airline’s operations on a broader scale. Discover how Delta is responding to this crisis and what it means for passengers…

As the political landscape shifts, Goldman Sachs reveals intriguing insights into Kamala Harris’s potential candidacy. With President Biden stepping aside, will Harris be able to carve out her own path, or will her policies mirror those of her predecessor? Delve into the expert analysis of fiscal and trade implications for the Democratic Party and discover…

Tech stocks saw a notable surge as market reactions shifted following President Biden’s unexpected withdrawal from the presidential race. With significant moves from Nvidia and Tesla ahead of crucial announcements, and a sharp decline for Verizon, the market dynamics are anything but stable. What does this mean for the future? Dive in to find out!

Boeing is making headlines at the Farnborough International Airshow with major aircraft orders from Japan Airlines and Korean Air. But what does this mean for the future of air travel and Boeing’s position in the industry? Discover the implications of these significant deals and the competitive landscape they reveal.

Workers at Samsung Electronics are rallying for change as their historic strike continues into its third week. With thousands demanding better wages and working conditions, tensions rise amidst the backdrop of the company’s soaring profits. What could this mean for the future of labor movements in South Korea? Click to find out more.

In a surprising turn of events following President Biden’s announcement about not seeking re-election, Democrats have seen an unprecedented influx of donations. With over $100 million secured in just two days, including a staggering $66.9 million in a single day for Vice President Kamala Harris’s campaign, the fundraising landscape is shifting rapidly. What does this…

McDonald’s new $5 meal deal aims to attract cost-conscious diners, but how profitable is it really? While the strategy could draw in more customers, the profit margins are slim and franchise owners may not benefit. Discover the intricate balancing act behind this promotional offering and what it means for the fast-food giant and its franchisees.

Spotify has achieved a record profit in the second quarter, marking a remarkable turnaround from last year’s losses. With a surge in active users and the impact of recent price hikes, the streaming giant is poised for an exciting future. Discover the details behind this impressive financial leap and what it means for subscribers.

General Motors is shifting gears after a strong second quarter, enhancing its financial outlook for 2024 and surprising investors with impressive revenue figures. As the automaker navigates the evolving landscape of electric vehicles and self-driving technology, significant changes are on the horizon. What does this mean for GM’s future and its ambitious production goals? Dive…

A South Korean tech mogul finds himself at the center of controversy after being arrested on allegations of stock manipulation in the K-pop industry. As the founder of Kakao, Kim Beom-su’s claims of innocence clash with a rapidly unfolding legal battle. What does this mean for Kakao and its future? Explore the details behind this…

Amazon’s ambitious push for profitability through its Alexa devices has taken a surprising turn, with reports indicating staggering financial losses. As the company grapples with user engagement that falls short of expectations, new strategies, including a potential paid version of Alexa, are on the horizon. But will these efforts be enough to turn the tide?…