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📈 Follow our live markets data and coverage. Two years ago, Starbucks investors were having a lousy day following another depressing set of quarterly results. News of Brian Niccol’s hiring as chief executive boosted the coffee chain’s market value by $20 billion, or more than 25%, overnight.
(Bloomberg) -- Meta Platforms Inc. and BlackRock Inc. will establish a joint venture to build and operate a 1-gigawatt data center complex in Texas, adding to a wave of investment in the computing hubs that power artificial intelligence.Most Read from BloombergNvidia’s $750 Billion in Deals Reignite Circular AI FearsChip Rout Deepens on Circular Funding, China Competition FearsDeepSeek Suspends Fundraising After Viral US-China PostsS&P 500 Wobbles as AI Angst Offsets Oil Decline: Markets WrapCit
Centene lifted its guidance for the year after revenue and profit growth in the second quarter were driven by strength in its core government-sponsored and individual healthcare lines.
The venture will fund the construction and operation of the campus, which Meta says will provide the compute capacity needed to train and deploy next-generation AI models.
According to a report, seats on some of the aircraft maker’s models weren’t correctly installed in their seat tracks, the Federal Aviation Administration said.
Amazon.com is revamping its AI strategy, winding down many of its in-house AI models and sharpening focus on a new frontier-model effort, Business Insider reported on Tuesday citing people familiar with the matter. The company has begun deprecating most of its flagship Nova AI models, including the high-end Premier and Omni models, Reel video-generation model, and Canvas image-generation model, the report said. Instead, Amazon is increasingly moving resources toward a frontier-model development, led by researcher Pieter Abbeel, with frontier research becoming a top priority this year at the company, the report added.
Tech shares are in for a rough day, with Nasdaq futures down nearly 0.8%. Behind some of the bearish outlook: fears that the West could lose its stranglehold on a crucial component of the chip supply chain. Chip stocks sank yesterday after a report in the Information said an unnamed Chinese-state backed company had begun making deep ultraviolet lithography machines, which use UV light to print microscopic patterns on the silicon wafers that go into chips.
Circle acquired IBM's blockchain patent portfolio, comprising more than 680 patent families and nearly 1,000 issued patents worldwide. The acquisition makes Circle the largest blockchain ...
Meta Platforms (META) and BlackRock (BLK) have agreed to form a strategic venture to develop and own
<body><p>STORY: :: New York / July 27, 2026</p><p>:: Dietrich Knauth, Legal Reporter</p><p>"After years of litigation, about 70,000 court cases, and three bankruptcies, Johnson& Johnson has agreed to a $5.5 billion talc settlement. Why are they settling now? </p><p>:: Why did J&J settle after more than a decade of talc litigation?</p><p>"So tens of thousands of women have accused Johnson& Johnson of causing their ovarian cancer. They've alleged that talc-based products, including baby powder, have been contaminated with asbestos and caused them to develop cancer after using these products for a long period of time. Johnson& Johnson has denied that, but these cases have continued to go to trial."</p><p>"And after a couple of attempts to settle these cases through bankruptcy courts, Johnson& Johnson has now reached a deal where they think they can end all of these cases for an overall payment that is about $5.5 billion, although that number could rise depending on how many people participate in the settlement."</p><p>"One of the plaintiff's lawyers told me today that he thinks it's closer to $7 billion. That's not something we're going to know for some time."</p><p>:: Could J&J still face new talc lawsuits in the future?</p><p>:: Johnson & Johnson</p><p>"It does not fully close the door on all future talc litigations. Somebody could develop cancer in the future, decide that they want to file a lawsuit against Johnson& Johnson, because they think that company's product caused their cancer. The reason for that is that there's something called a latency period, which is essentially the delay between when you experience the factors that caused your cancer and when that cancer actually shows up."</p><p>"But, you know, this deal basically gets rid of all of the existing cases. That's the idea."</p><p>J&J reached the settlement after a series of wins in court, including victories in individual trials, successful efforts to disqualify plaintiffs' lawyers from the litigation, and court rulings against experts that plaintiffs had used to prove their cases in court. </p><p>J&J won a significant court victory in the long-running legal battle last week, when a federal judge cast doubt on individual plaintiffs' ability to prove that talc specifically caused their ovarian cancer.</p><p>J&J has long denied that its talc products caused cancer, saying that talc was safe and did not contain asbestos. The company stopped selling talc-based baby powder in the U.S. in 2020, switching to a cornstarch product.</p><p>Before the bankruptcy attempts, J&J had a mixed record in talc trials, with a multibillion verdict in favor of 22 women who said baby powder caused their ovarian cancer. The company won some trials outright and had other verdicts reduced on appeal.</p><p>Unlike the proposed bankruptcy settlements, Monday's agreement applies only to existing claims and does not address future lawsuits.</p></body>
Digital medical services platform Teladoc Health (NYSE:TDOC) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
By Dawn Kopecki NEW YORK, July 28 (Reuters) - DraftKings, FanDuel and other online sports betting companies have ramped up election spending on the U.S. midterms to at least $72 million so far, the
Trump stood before autoworkers at a GM proving ground and promised his tariffs had revived American manufacturing, but Michigan employment data from the same period tells a sharply different story about who is actually paying the price.
Meta Platforms and the world's largest asset manager BlackRock on Tuesday announced a venture to develop and operate a data center campus in El Paso, Texas, a project that would cost about $14 billion in development. The race to build out AI infrastructure has prompted tech giants to turn to debt sales worth tens of billions of dollars or seek external capital from fund managers such as BlackRock due to an unprecedented scale of investment. Meta said BlackRock-managed funds will take an 80% ownership stake in the venture, with Meta retaining the remaining 20%.
(Bloomberg) -- AI’s decimation of call center jobs has begun.Most Read from BloombergNvidia’s $750 Billion in Deals Reignite Circular AI FearsDeepSeek Suspends Fundraising After Viral US-China PostsS&P 500 Wobbles as AI Angst Offsets Oil Decline: Markets WrapCitadel Securities Sees Warsh Delivering Surprise Fed Rate HikeChip Rout Deepens on Circular Funding, China Competition FearsCompanies ranging from the Commonwealth Bank of Australia and Microsoft Corp. to Uber Technologies Inc. and Hyatt Ho
In January, a headhunter from search firm Spencer Stuart started calling restaurant industry executives with a proposition: Would you come to Cracker Barrel as the next CEO? Cracker Barrel’s decision to select a 69-year-old former restaurant executive to lead the chain highlights the emerging practice of boards calling in retired chief executives from the sidelines to help engineer high-profile turnarounds. In recent years, Boeing Verizon Communications and others have all chosen once-retired CEOs.
Wall Street’s forecasts for Big Tech require a major leap of faith: that the biggest AI hyperscalers can boost revenue much faster than the costs of running their businesses. Investors are already on edge about these companies’ soaring capital expenditures related to artificial intelligence. The bullish earnings narrative requires these companies to achieve newfound operating efficiency even as they spend trillions of dollars in capex over the next few years.
Meta’s data-center project priced a $12.5 billion offering with a higher interest rate than a similar deal last year, as AI companies flood the market with new debt.
(Bloomberg) -- Two years ago, Rahul Patel couldn’t sleep.Most Read from BloombergNvidia’s $750 Billion in Deals Reignite Circular AI FearsDeepSeek Suspends Fundraising After Viral US-China PostsS&P 500 Wobbles as AI Angst Offsets Oil Decline: Markets WrapCitadel Securities Sees Warsh Delivering Surprise Fed Rate HikeChip Rout Deepens on Circular Funding, China Competition FearsThe crypto founder who trades his own money spent his nights rotating through internet jokes with billion-dollar market
Accenture will release its fourth-quarter earnings soon, and analysts anticipate a single-digit bottom-line growth.
Aircraft leasing company FTAI Aviation (NASDAQ:FTAI) will be reporting results this Wednesday after market hours. Here’s what investors should know.
Medical device company Boston Scientific (NYSE:BSX) will be reporting earnings this Wednesday morning. Here’s what to expect.
July 28 (Reuters) - Nasdaq futures fell on Tuesday, mirroring a cautious mood across global markets toward AI chip stocks on concerns about hefty corporate spending and rising Chinese competition,
Oilfield services company ProPetro (NYSE:PUMP) will be reporting earnings this Wednesday before market open. Here’s what to expect.
Retail sentiment remains ‘bearish’ on SPY and deteriorated to ‘extremely bearish’ on QQQ, amid growing anxiety around technology stocks.
Coal mining company Peabody Energy (NYSE:BTU) will be announcing earnings results this Wednesday before market hours. Here’s what to look for.
Who's ready for another round of tariffs?
Spoiler: You'd probably rather have that $10,000 back.
China has begun mass producing domestically developed immersion deep-ultraviolet (DUV) lithography machines, a technology crucial to advanced chipmaking, a person familiar with the matter said, marking a key step forward in Beijing's drive to reduce its reliance on foreign technologies. Shanghai Aishengna Electronic Technology Group, a little-known Chinese state-owned company, is leading the production effort after incorporating teams from top Chinese lithography startups, the source said, declining to be named due to the sensitivity of the subject. The development represents a win for Beijing's nationwide semiconductor self-sufficiency initiative, one of President Xi Jinping's highest priorities, but will not pose an immediate commercial threat for Dutch supplier ASML.
July 28 (Reuters) - Varun Beverages, PepsiCo's biggest bottling partner in India, posted a 15.5% rise in second-quarter profit on Tuesday, driven by strong volume growth in India and international
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