All stories, page 3
Business news written here, in plain English, for people who run something. Every story is ours.
Tuesday, October 20
Mark Zuckerberg is betting up to $200 billion on an AI empire
Mark Zuckerberg is betting up to $200 billion on artificial intelligence. Meta, which owns Facebook and WhatsApp, is building its own chips and data centers. The massive gamble aims to free the tech giant from Apple and Google mobile platforms.
Jamie Dimon says JPMorgan Chase financed $230 billion in first national-security year
JPMorgan Chase just poured $230 billion into defense and energy projects. Jamie Dimon, the head of JPMorgan Chase, leads the huge $1.5 trillion push. The bank plans to blow past the original target. This money backs heavy industrial companies and key supply chains.
Larry Ellison loses $6 billion in a day as Oracle stock drops
Oracle co-founder Larry Ellison saw his fortune drop by $6.1 billion in one day. Investors are dumping shares over AI spending and a surging debt load. The company faces a $169 billion debt burden and stalled data centre projects. Cloud revenue is still growing despite the massive market sell-off.
Jensen Huang tells Europe to stop overthinking AI or get left behind
Nvidia CEO Jensen Huang warned Europe to move faster on artificial intelligence. He told German leaders that overregulation will kill the tech industry. For your business, slower tech adoption means your overseas competitors might outpace you.
Bill Ackman pours up to $3 billion into Howard Hughes insurance arm
Jewish billionaire Bill Ackman is transforming Howard Hughes Holdings. He bought Vantage for $2.1 billion to build a Berkshire style insurer. Up to $3 billion will flow into the insurance unit over five years. Pershing Square will manage the portfolio for free to boost long term returns.
The S&P 500 has gone months without a 3% drop
The S&P 500, an index tracking 500 of the biggest US companies, has not suffered a 3% drop in months. The bull market still holds the benefit of the doubt for now.
Jensen Huang reveals how a single phone call saved Nvidia from bankruptcy
Nvidia nearly went bankrupt in the late 1990s before finding a manufacturer. CEO Jensen Huang called Taiwan Semiconductor Manufacturing Co. repeatedly with no reply. He finally sent a letter to founder Morris Chang. Chang answered and launched a 30-year partnership.
Nvidia CEO Jensen Huang says paying $8 billion in taxes is a privilege
Nvidia chief Jensen Huang supports a new California tax. Other tech billionaires are leaving the state over the bill. Huang says paying billions in taxes is a true privilege. He feels grateful for the American system that built his success. The tech leader remains happy to stay and pay his share.
Stop swiping apps away on your iPhone to save battery life
Force-closing apps does not actually save power on your iPhone. Doing this constantly makes your device work harder and can drain your battery faster. Apple, the company that makes the iPhone, says you should only close apps if they freeze. Leave your apps alone to help your battery last longer.
SpaceX swings to a $4.40 billion profit as a.I. and Starlink grow
SpaceX earned an overall profit of $4.40 billion in its latest quarter. The aerospace giant turned around from a loss of $1.05 billion last year. Revenue jumped 161 percent over three months ending in September. The surge was driven by Starlink satellite internet and artificial intelligence.
Capital One offers 300,000 miles and $1,300 travel credit on business card
Capital One, the big bank and credit card issuer, launched a huge bonus. Earn up to 300,000 miles and $1,300 in travel credits with the Venture X Business card. The card has no preset spending limit and does not report to your personal credit score.
Amazon offers Apple AirPods Pro 3 for $199, saving shoppers $50
Amazon dropped AirPods Pro 3 down to $199 today. That is $50 off the normal retail price. You can order now for fast shipping to your door. This matches solid savings ahead of the holiday rush.
Google brings Personal Intelligence to Android Auto for hands-free app searches
Google adds Personal Intelligence to Android Auto starting today. The opt-in feature searches Your Gmail and Calendar while driving. Adults with personal Google accounts can turn it on in settings. Workspace and school accounts are excluded from the update.
Southwest offers up to 40% off base fares for travelers
Southwest Airlines offers up to forty percent off base fares today. Travelers can also cancel and rebook existing reservations now. Check your upcoming trips to save on your next flight. This discount lowers travel costs for family trips.
Meta's Muse app passes 10.9 million downloads as ChatGPT drops 25%
Meta's new app, Muse, has reached over 10.9 million downloads since it launched on Sept. 8.
Elon Musk says a Tesla and SpaceX $3.5 trillion merger is considered
Elon Musk is exploring a merger of Tesla and SpaceX. Tesla is valued at $1.5 trillion and SpaceX at $2 trillion. Special committees at both companies are reviewing the plan now. Shareholders must approve the deal with at least a 50 percent vote.
Meta's Muse app hits 10 million US downloads in just 40 days
Meta's Muse app reached ten million US downloads in forty days. Only twelve apps ever hit this milestone so fast. ChatGPT reached just 3.7 million downloads in that time. Meta suspended its sharing feature after privacy concerns arose. The app keeps thirty percent of users after seven days.
Apple moves up iPhone Duo delivery dates for some buyers by weeks
Your new phone might arrive earlier than expected. Apple delayed some shipments to January 25 next year. Now delivery dates are moving up by a few weeks. One US buyer saw an arrival date change to November. Check your order status on Apple's website now.
Walgreens offers set of six customized five by seven photo cards free
Walgreens, the national drugstore chain, brings back its popular free photo card offer. New and existing customers get six custom 5x7 premium photo cards for free. Use promo code SEND6CARDS online or in the app to grab the deal. Pick them up at your local store without paying a cent.
Elon Musk says he will give SpaceX shares to 72 million kids
Elon Musk posted early in the morning that he plans to hand out ownership in his space exploration company to every child in the country. He wrote, "next year, I'll give one of my SpaceX shares to every kid in America."
United Airlines slashes 2026 profit outlook to $7.22 per share on soaring fuel costs
United Airlines expects fourth-quarter earnings below Wall Street estimates. Fuel costs will hit $4.80 a gallon on average. Third-quarter net income rose 8.5 percent to $1.03 billion. Passengers keep booking despite higher fares and ticket prices.
Walmart promotes 500 people every day and here is how they move up
Walmart, the giant retail store chain, promotes about 500 workers every day. U.S. associates get their first promotion in nine months on average. Donna Morris, the chief people officer, shared two traits for moving up. Master your current job first and volunteer for new projects.
Southwest Airlines runs 40 percent off flight sale ending October 8
Southwest Airlines launched a new flight sale giving up to 40 percent off cash and award tickets. No promo code is needed to get the discount on eligible routes. Check your upcoming trips booked between October 26 and March 3 for potential savings.
United Airlines boss Scott Kirby says flight prices rising to cover costs
Flight prices went up this year, and Scott Kirby, the chief executive of United Airlines, says keeping planes in the air is simply expensive. He explained the higher fares in an interview with the New York Times, the daily newspaper.
GM is closing its Brownstown battery plant and shifting away from electric vehicles
General Motors is closing its 480,000-square-foot Brownstown Battery Assembly plant next summer. The company is also repurposing a Detroit plant meant for hydrogen fuel cells. Slow electric vehicle sales and lost tax credits drove the change.
Apple acquires audio editor Samplab to expand its Creator Studio software suite
Apple bought Samplab to improve its Creator Studio software suite. Samplab builds audio editing tools for musicians. Apple also bought MotionVFX and Color.io this year. These software tools feed right into its professional apps.
Intuit brings back Credit Karma Tax with $0 federal and $15 state prep
Intuit, the financial software giant, is reviving Credit Karma Tax. It offers $0 federal and $15 state return preparation. Users can snap a photo of Tax forms to skip data entry. You get real-time AI help and a 100% accuracy guarantee. This gives you a low-cost DIY option for Tax season.
Domino's offers 35 percent off when paying with paze through November 8
Domino's, the pizza delivery chain, is offering a 35 percent discount right now. You must pay using Paze, the digital wallet owned by major US banks. Stack it with a Chase Ultimate Rewards card to earn an extra 10x bonus points.
Wells Fargo rolls out artificial intelligence strategy to overhaul its $2.3 trillion bank
Wells Fargo, the massive bank, is rolling out a new artificial intelligence strategy across its operations. Faraz Shafiq, head of AI products at Wells, shared the plan at a Las Vegas conference. The bank manages $2.3 trillion in assets and employs 197,000 workers.
SpaceX options price a 6 percent move after upcoming earnings
SpaceX, the space technology company, has options contracts currently pricing only a 6 percent move after its upcoming report. Oliver Renick, a reporter, highlighted the forecast.
