U.S. small-business confidence surged to its highest level in nearly two and a half years in July, signaling that fears of a looming recession may have been overstated. According to the National Federation of Independent Business (NFIB), its Small Business Optimism Index rose by 2.2 points to 93.7, marking the highest reading since February 2022.…
Elon Musk’s high-profile interview with former President Donald Trump on the social media platform X faced significant disruptions on Monday evening due to technical issues that nearly derailed the event. The livestream, scheduled to begin at 8 p.m. ET, experienced problems as users reported being unable to access the broadcast. Musk attributed the disruption to…
Tencent Music Entertainment reported a slight decline in quarterly revenue on Tuesday, with a 1.7% drop to 7.16 billion yuan ($999 million) for the three months ending June 30. Although this marked the fourth consecutive quarterly decline, the company’s performance surpassed analysts’ expectations, which had forecasted revenue of 7.14 billion yuan, according to LSEG data.…
Huawei Technologies is gearing up to launch a new artificial intelligence (AI) chip, Ascend 910C, positioning itself as a competitor to Nvidia in China despite U.S. sanctions. According to a report by the Wall Street Journal, Huawei’s latest processor is being tested by major Chinese internet and telecom companies, with the tech giant claiming the…
James Kirsh, president of a family-owned foundry in Wisconsin, is bracing for a significant spike in property and casualty insurance costs for his business. As his current insurer, Acuity, withdraws from covering factories like his, which deal with molten metal, Kirsh faces the challenge of piecing together more expensive coverage from multiple providers. “It’s a…
The largest domestic initial public offering (IPO) of the year is expected to raise $734 million, according to Indian e-scooter manufacturer Ola Electric. Foreign investors are interested in the sale, although the SoftBank-backed company was recently valued at a much reduced $4 billion. The IPO coincides with a boom in the Indian stock market, with…
The makers of champagne in France demanded on Friday that fewer grapes be harvested this year after the wine’s sales dropped more than 15% in the first half of the year as consumers restricted their budgets as a result of the unsteady economy. 106.7 million bottles of champagne were shipped in the first half of…
According to a statistic released by Adobe Analytics on Wednesday, customers in the United States spent around $7.2 billion online across shops on the first day of Amazon’s Prime Day. In an effort to compete with Amazon’s sales event, major retailers such as Walmart and Target have started to offer substantial discounts and shopping events…
Due to a mismatch between supply and demand brought on by a spike in solar power output, Europe has seen a record number of hours of negative power prices this year. This might encourage investment in much-needed storage options. In the first five months of this year, during periods of low demand, wholesale electricity markets…
A Delaware judge nullified Tesla CEO Elon Musk’s $56 billion compensation plan earlier this year. Next week, shareholders will have the opportunity to vote on ratifying Musk’s deal, which Norway’s $1.7 trillion sovereign wealth fund announced on Saturday it will not support. Based on LSEG statistics, the fund ranks as the seventh largest shareholder in…
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