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Workday must face California lawsuit over AI bias in job screening tools
Reuters74d agobearish
Workday must face California lawsuit over AI bias in job screening tools

June 22 (Reuters) - Workday must face claims that its popular AI-powered human resources software weeded out job applicants at other companies in ways that violated ‌California law and a federal ban on discrimination against workers with disabilities, a federal ‌judge ruled on Monday. District Judge Rita Lin in San Francisco rejected California-based Workday's claim that the state's anti-discrimination ​laws do not apply when it screens people based outside California who are applying for jobs

Coca-Cola faces $20 billion tax bill in IRS lawsuit
TheStreet74d agobearish
Coca-Cola faces $20 billion tax bill in IRS lawsuit

Coca-Cola is a dividend king with 64 straight years of payout increases, a presence in more than 200 countries, and a place in the Dow. The Internal Revenue Service believes the beverage giant owes up to $20 billion in additional taxes and interest tied to its overseas profit allocations. A federal ...

Oil’s Plunge Below $80 Is Already Reshaping the Fed’s Rate Path, Says Apollo’s Torsten Slok
24/7 Wall St.74d agobearish
Oil’s Plunge Below $80 Is Already Reshaping the Fed’s Rate Path, Says Apollo’s Torsten Slok

Torsten Slok, the Apollo Global Management (NYSE:APO) chief economist who has spent the past year warning that the Fed would have less room to cut than markets wanted, went on CNBC last week and essentially argued that his own thesis had just been overturned by a barrel of oil. The Federal Open Market Committee had ... Oil’s Plunge Below $80 Is Already Reshaping the Fed’s Rate Path, Says Apollo’s Torsten Slok

U.S. tech megacaps slide as SpaceX extends slump, AI expense concerns grow
Reuters74d agobearish
U.S. tech megacaps slide as SpaceX extends slump, AI expense concerns grow

Shares of U.S. technology megacaps tumbled on Monday as SpaceX fell for the third straight session and hyperscalers Alphabet ‌and Amazon looked set to lose billions of dollars in market value, ‌driven by AI spending concerns. SpaceX slid over 10% after last week's blistering post-IPO rally. Alphabet dropped 6%, set for its biggest one-day fall since May 2025 and on pace to erase more than $256 billion in market capitalization.

Bloomberg75d agobearish
Alphabet Shares Drop After Second AI Star Departs for Rival

(Bloomberg) -- Alphabet Inc. shares tumbled on Monday following the departure of another high-profile artificial intelligence leader to a rival.Most Read from BloombergIran Says Hormuz Closed Again as Talks With US Set to OpenUS and Iran Make ‘Progress’ in Talks, Aim to Keep Hormuz OpenIranian Negotiators Said to Still Be Engaged in Talks With USMeta Taps New WhatsApp Boss as Part of $900 Million InvestmentIran Cites ‘Major Progress’ After All-Night Talks With USThe stock fell as much as 7.2%, t

Investing.com75d agobearish
Lucid Group cuts 18% of US workforce, stock slides

Investing.com -- Lucid Group (NASDAQ:LCID) announced Monday it will reduce its U.S. workforce by approximately 18% and that Chief Operating Officer Marc Winterhoff has departed the company.

Treasury Yields, Dollar Rise as U.S.-Iran Talks Stumble Along
Barrons.com75d agobearish
Treasury Yields, Dollar Rise as U.S.-Iran Talks Stumble Along

Treasury yields and the dollar rise amid tense negotiations in the Middle East. Oil prices decline as mediators say U.S.-Iran talks will continue this week, following a rocky start. The long disruption in global oil supplies, however, keeps inflation fears elevated.

SpaceX Stock Tumbles 10%
The Wall Street Journal75d agobearish
SpaceX Stock Tumbles 10%

SpaceX shares are on course for their biggest one-day decline since they went public earlier this month. They are down for the third session in a row, and more than 15% below their record close of $201.

Uber board sued over alleged 'serial' compliance failures, sexual abuse lawsuits
Reuters75d agobearish
Uber board sued over alleged 'serial' compliance failures, sexual abuse lawsuits

Uber Technologies' board was sued on Monday by shareholders who accused management and directors of letting the ride-sharing ‌company cut corners on compliance, leading to thousands of lawsuits from victims ‌of sexual assault and harassment. In a complaint filed in San Francisco federal court, shareholders led by ​a Detroit pension fund said board members ignored repeated internal and external warnings about Uber's alleged failure to address sexual abuse by drivers. Shareholders said oversight failures were also a factor in lawsuits filed last year by the federal government, which accused Uber ‌of routinely refusing to serve ⁠disabled passengers, including people with service animals or stowable wheelchairs, and engaging in deceptive billing and cancellation practices.

Massive Wave of Selling Is Coming, Says JPMorgan. Here’s Why It Probably Won’t Matter
24/7 Wall St.75d agobearish
Massive Wave of Selling Is Coming, Says JPMorgan. Here’s Why It Probably Won’t Matter

Despite pressure from inflation, Federal Reserve policy, and the Iran conflict, the stock market has shown remarkable resilience. That strength has created a new concern heading into the end of June: a potentially massive wave of institutional selling. According to a recent JPMorgan analysis, roughly $165 billion of equity selling pressure could wash over the ... Massive Wave of Selling Is Coming, Says JPMorgan. Here’s Why It Probably Won’t Matter

Investing.com75d agobearish
Accenture downgraded by TD Cowen on AI concerns

Investing.com -- TD Cowen downgraded shares of Accenture to Hold from Buy and slashed its price target to $150 from $258, arguing that a near-term recovery has become increasingly difficult as growth expectations weaken and investor sentiment toward the consulting giant deteriorates.

Investing.com75d agobearish
Goldman cuts U.S. recession risk to 15% after Iran deal

Investing.com -- Goldman Sachs has cut its 12-month U.S. recession probability to 15% following the U.S.-Iran agreement, with chief economist Jan Hatzius citing reduced downside risks to the economic outlook and an improvement in underlying labor market resilience.

Bloomberg75d agobearish
Treasuries Pare Declines as Oil Price Drops on US-Iran Progress

(Bloomberg) -- Treasuries fell as trading resumed following a US public holiday with Washington and Tehran working to hammer out details of a peace accord.Most Read from BloombergIran Says Hormuz Closed Again as Talks With US Set to OpenUS and Iran Make ‘Progress’ in Talks, Aim to Keep Hormuz OpenIranian Negotiators Said to Still Be Engaged in Talks With USDOJ Rejects Judge Request to Certify $1.8 Billion Fund NixedThe ‘Mass Affluent’ Are Losing Their Allure for Wealth Managers Navigating AIUS 1

Goldman Cuts U.S. Recession Forecast
The Wall Street Journal75d agobearish
Goldman Cuts U.S. Recession Forecast

Goldman Sachs now sees a smaller chance of a recession in the U.S. thanks to the peace agreement with Iran. The bank cut its 12-month recession odds to 15% from 25%, citing falling energy prices. It now sees an even lower chance of recession than it did before the war, when it put the odds at 20%.

Investing.com75d agobearish
BofA now sees no Fed rate cuts until 2028

Investing.com -- Bank of America has shifted its Federal Reserve outlook, now forecasting three interest rate hikes totaling 75 basis points this year before an extended pause, pushing any prospect of rate cuts well into the future.

Asian shares are mixed and US futures fall as Iran talks make progress
Associated Press75d agobearish
Asian shares are mixed and US futures fall as Iran talks make progress

Asian stocks were mixed Monday with markets in Japan and South Korea trading higher, while oil prices edged lower on fresh optimism over progress in U.S.-Iran negotiations. Tokyo’s Nikkei 225 jumped 1.6% to 72,364.82, after reaching a new all-time record of 72,831.73 during intraday trading, helped by technology stocks that were fueled by excitement over the global artificial intelligence boom. Japan’s SoftBank Group, the multinational investment holding company with a strong AI focus, rose 2.4%.