Thousands of dockworkers on the East Coast and Gulf Coast will return to work after reaching a tentative agreement on wages, ending one of the biggest work stoppages in decades. In a joint statement, the…
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Business
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Starlink, the satellite internet service from SpaceX, is poised to become a crucial lifeline in parts of southern Appalachia that were devastated by Hurricane Helene. The Biden administration has announced it is planning to deploy…
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Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon. The partnership will officially launch at the start of next F1 season…
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Business
OpenAI closes funding at $157 billion valuation as Microsoft, Nvidia, SoftBank join round
by adminOpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. While OpenAI didn’t name…
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Tens of thousands of longshoremen went on strike at midnight ET, shutting down major ports along the East and Gulf coasts and choking off deliveries of everything from produce to auto parts. Consumers aren’t likely…
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PepsiCo said Tuesday that it’s buying Mexican-American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years. Like many food companies, Pepsi has been trying to shift its portfolio…
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As Microsoft investors get ready for quarterly earnings this month, there’s one particular metric that’s become increasingly important: finance leases. A finance lease lets a company pay for an asset over years, rather than all upfront. For…
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Business
Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike
by adminWith a potential strike at ports up and down the East Coast and along the Gulf Coast set to begin after midnight Monday, logistics executives tell CNBC the remaining hours are critical in moving out as…
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Tiger Woods’ new logo for his Sun Day Red golf apparel line is facing a trademark dispute. Tigeraire, a company that makes cooling products for athletes, has filed a notice of opposition with the U.S. Patent and…
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Business
Sam Altman tells OpenAI staff there’s no plan for him to receive ‘giant equity stake’ in company
by adminAt an all-hands meeting Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling that information “just not true,” according to a person…