Category: Business & Markets

U.S. stock markets experienced a significant downturn on Friday, with the S&P 500 falling by 1.7%, the Dow Jones Industrial Average decreasing by 1.7%, and the Nasdaq Composite dropping by 2.2%. These declines follow a week characterized by troubling reports regarding slowing business activity and…

Omaha, NE — Renowned investor Warren Buffett has released his much-anticipated annual letter to shareholders of Berkshire Hathaway, revealing significant financial developments for the company over the past year. In the letter, Buffett highlights a remarkable 70% increase in fourth-quarter earnings compared to the same…

In a fluctuating trading session on Monday, U.S. stock markets closed down as investors expressed concerns over the economic outlook, particularly in light of looming tariffs. The S&P 500 index fell by 0.4%, the Dow Jones Industrial Average decreased by 1.0%, and the Nasdaq Composite…

**Washington, D.C.** – The Internal Revenue Service (IRS) has commenced the process of laying off approximately 6,700 employees, which constitutes over 6% of the agency’s workforce. This decision affects those who have been with the agency for less than one or two years, primarily targeting…

OpenAI has announced that it has surpassed 400 million weekly active users, marking a significant 33% increase in less than three months. The impressive growth trajectory highlights the expanding reach and adoption of OpenAI’s technologies, particularly as it continues to navigate a competitive landscape that…

In a significant shift within the retail landscape, Amazon has officially surpassed Walmart in revenue for the first time. In the fourth quarter of the fiscal year, Amazon reported an impressive revenue of $187 billion, indicating a remarkable increase that positions the e-commerce giant at…

Tapestry Inc., the parent company of well-known handbag brands Coach and Kate Spade, has announced its decision to sell the footwear brand Stuart Weitzman to Caleres Inc. for $105 million in an all-cash transaction. This strategic move is aimed at enabling Tapestry to concentrate more…

London, UK – HSBC Holdings, Europe’s largest lender, has announced a share buyback program of up to $2 billion as the bank reported a 6.5% increase in its annual profit for the year 2024. This move comes as part of HSBC’s ongoing strategy to enhance…

In a buoyant day for investors, U.S. stock markets closed with modest gains on Wednesday, with the S&P 500 and Dow Jones Industrial Average each rising by 0.2%, while the Nasdaq Composite added 0.1%. This increase marks another record close for the S&P 500, reflecting…

In a significant development within the electric vehicle industry, Nikola Corporation has filed for Chapter 11 bankruptcy protection, citing a dramatic decrease in sales, a fraud scandal, and the ongoing incarceration of its founder, Trevor Milton. The announcement, made yesterday, marks a notable downturn for…