Elon Musk’s move last week to combine SpaceX and xAI has created one of the world’s biggest and most valuable private companies, which analysts say offers a mix of potential growth and financial risk as it heads toward public markets
Category Archives: business
Will Lewis steps down as publisher and CEO of The Washington Post days after layoffs
Will Lewis has stepped down as the publisher and chief executive of The Washington Post just days after layoffs struck a third of the paper’s newsroom.
How snack makers are trying to win back fed-up consumers
On Super Bowl weekend, consumers are hungry for cheaper chips. And they might get them.
Stocks rebound after a dramatic week sparked by ongoing AI uncertainty
The S&P 500 rose 1.97%, its best day since May as it rebounded from a week of dramatic selling, triggered by fears of how the AI boom will change the economy.
Uber ordered to pay $8.5 million in trial over driver sex assault claims
A U.S. jury ordered Uber on Thursday to pay $8.5 million after finding it liable in a lawsuit brought by a woman who said she was sexually assaulted by a driver when she was 19, a verdict that could influence thousands of similar cases against the ride-hailing company
Layoff announcements and fewer job openings draw comparisons with 2009
New data on jobs and layoffs this week highlights rising job cuts and lackluster hiring plans.
Crypto crash accelerates as investors flee risky assets
Bitcoin has lost nearly half its value since a high last year, intensifying fears about just how vulnerable crypto can be when investors flee risk.
Wanna bet? Super Bowl gamblers find a way around bans thanks to prediction markets
New “prediction market” platforms like Kalshi and Polymarket are allowing anyone across America to wager on the Super Bowl despite bans on sports betting.
Brad Karp resigns as chairman of law firm Paul Weiss amid Epstein files fallout
Brad Karp, the chairman of the law firm Paul, Weiss, Rifkind, Wharton & Garrison, resigned Wednesday after the most recent batch of Epstein files released by the Justice Department included correspondence between him and Jeffrey Epstein.”Recent reporting has created a distraction and has placed a focus on me that is not in the best interests of the firm,” Karp said in a statement released by the firm, which said his resignation was effective immediately.
Washington Post cuts more than 300 journalists
The Washington Post announced layoffs affecting approximately one-third of its workforce. Semafor media editor Max Tani spoke with NBC News’ Ellison Barber about what this means for the future of the 150-year-old newspaper.