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Magnificent Seven Tech Giants Shed $600 Billion in Market Value, Nvidia Takes Biggest Hit

Aug 06, 2024 21:46 pm UTC| Business Technology

The Magnificent Seven tech stocks saw their market value plummet by over $600 billion during a market sell-off on August 5, with Nvidia experiencing the steepest decline at 7%. Recession fears and weak economic data drove...

Nasdaq, S&P 500 Plunge Over 3% Amid Recession Fears and Apple Stock Decline

Aug 06, 2024 21:42 pm UTC| Business

The Nasdaq and SP 500 closed down over 3% on August 5, driven by escalating U.S. recession fears and a sharp decline in Apple shares following a significant investors sell-off. Nasdaq and SP 500 Plunge Over 3% Amid...

OpenAI Director John Schulman Joins Amazon-Backed Anthropic Amid Leadership Shake-Up

Aug 06, 2024 21:38 pm UTC| Business Technology

John Schulman, OpenAIs director of alignment, has joined Anthropic, an AI startup backed by Amazon. His departure follows the recent exit of OpenAIs president, Greg Brockman, and product manager, Peter Deng. John...

Tesla Cybertruck's First Fatal Crash: Texas Driver Dies in Fiery Accident

Aug 06, 2024 07:07 am UTC| Technology Business

A driver was killed in the first reported fatal crash involving a Tesla Cybertruck in Chambers County, Texas, when the electric vehicle collided with a concrete culvert and caught fire. Cybertruck Catches Fire The...

Stock Market Plummets Amid Joe Biden's Crisis Talks on Iran War Threat

Aug 06, 2024 06:59 am UTC| Politics Economy Business

Today, the stock market experienced a dramatic crash as President Joe Biden convened in the White House Situation Room to address escalating tensions with Iran. The sudden financial downturn has sent shockwaves through the...

Tesla Cybertruck Spotted in Florida Testing FSD Supervised Before Release

Aug 06, 2024 06:51 am UTC| Technology Business

Last week, Teslas Cybertruck was seen in Florida, testing Full Self-Driving (FSD) technology just before its planned release. Testing FSD Supervised in Florida Last week, drivers of what appeared to be a Tesla...

Arby’s Unveils New Bourbon BBQ Sandwiches and Strawberry Shake for Limited Time

Aug 06, 2024 06:35 am UTC| Business Life

Arbys has launched a new limited-time menu featuring Bourbon BBQ Brisket and Chicken Sandwiches, along with a refreshing Strawberry Shake, available at participating locations nationwide. Arbys Introduces Limited-Time...

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Economy

Taiwan Stock Market Ends Higher as Semiconductor and Energy Shares Lead Gains

Taiwan stocks closed higher on Thursday, supported by broad-based gains across key sectors including semiconductors, oil, gas and electricity, as well as construction. The Taiwan Stock Exchange Weighted Index finished the...

BOJ Governor Signals Gradual Rate Hikes as Japan’s Inflation Nears 2% Target

Bank of Japan Governor Kazuo Ueda said Japans underlying inflation is steadily accelerating and moving closer to the central banks long-standing 2% target, reinforcing expectations that interest rate hikes will continue if...

UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs

Gold, silver, and platinum have surged to fresh record highs heading into the year-end holiday period, drawing strong attention across global commodity markets. However, UBS is urging investors to exercise caution, warning...

Japan Revises Economic Growth Forecast as Stimulus Fuels Consumption and Investment

Japans government has revised upward its economic growth forecast for the fiscal year ending next March and projected faster expansion in the following year, citing the positive impact of a large-scale stimulus package...

U.S. Stocks Rally to Record Highs as AI Rebound Fuels Holiday-Shortened Session

U.S. stocks closed higher on Wednesday, with the Dow Jones Industrial Average and the SP 500 finishing at record closing highs during a broad-based rally in a holiday-shortened trading session. All three major indexes...

Politics

U.S. Prioritizes Economic Pressure With Venezuelan Oil Quarantine as Sanctions Intensify

The United States has shifted its near-term military focus toward enforcing a so-called quarantine on Venezuelan oil exports, signaling a strategy that prioritizes economic pressure over direct military confrontation....

Hanwha Signals Readiness to Build Nuclear-Powered Submarines at Philly Shipyard for U.S. Navy

Hanwha Group has announced that its Philadelphia-based shipyard has the technical capability to build nuclear-powered submarines for the U.S. Navy, highlighting the South Korean conglomerates growing ambitions in the...

China’s One-Child Policy Legacy Resurfaces After Death of Former Population Chief

The death of Peng Peiyun, a former senior Chinese official who oversaw the countrys one-child policy for a decade, has reignited fierce debate on Chinese social media about the long-term impact of the controversial...

Christmas Eve Jazz Concert Canceled After Kennedy Center Renaming to Include Trump

A planned Christmas Eve jazz concert at the Kennedy Center in Washington, D.C., has been canceled following a controversial decision to rename the iconic performing arts institution to include the name of Republican U.S....

Palau Agrees to Accept Up to 75 U.S.-Transferred Migrants in Deal Tied to Increased American Aid

Palau has agreed to accept up to 75 migrants transferred from the United States after signing a memorandum of understanding (MOU) with Washington, a move that has drawn international attention amid ongoing debate over U.S....

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance

NVIDIA (NASDAQ: NVDA) has reportedly agreed to acquire Groq, a fast-growing designer of high-performance artificial intelligence accelerator chips, in a $20 billion all-cash transaction, according to a CNBC report. The...

Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling

A federal judge in Texas has blocked the enforcement of a new state law that would have required app stores and developers to verify users ages, marking a significant legal win for major technology companies and digital...

FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement

The U.S. Federal Trade Commission has welcomed Instacarts decision to end its artificial intelligence-based price testing, a move that follows weeks of consumer backlash and regulatory scrutiny. FTC Chair Andrew Ferguson...

John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training

Investigative journalist John Carreyrou, widely known for exposing fraud at Silicon Valley blood-testing startup Theranos and for authoring the bestselling book Bad Blood, has filed a new copyright infringement lawsuit...

Italy Fines Apple €98.6 Million Over App Store Dominance

Italys competition authority has imposed a 98.6 million ($115.53 million) fine on U.S. technology giant Apple and two of its subsidiaries, citing alleged abuse of a dominant market position related to the distribution of...