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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Virtually all of the world’s supply of a mineral that is critical to semiconductor production comes from one tiny town in the foothills of the Blue Ridge Mountains that has been devastated by Hurricane Helene. Spruce Pine, North…
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It’s time for a wellness check at CVS Health. Shares of the company are down more than 20% this year as it grapples with higher-than-expected medical costs in its insurance unit and pharmacy reimbursement pressure, among other issues. As…
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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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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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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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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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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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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…