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TikTok reaches $400 million settlement with US Justice Department over children's privacy
Associated Press15d agoneutral
TikTok reaches $400 million settlement with US Justice Department over children's privacy

TikTok has reached a $400 million settlement with the U.S. Department of Justice, ending a 2024 lawsuit alleging the company violated federal children's privacy laws. The DOJ said Friday that TikTok will pay $300 million immediately and another $100 million after an order vacates an earlier consent decree against its predecessor company, Musical.ly. “This settlement is a major victory for American children and parents,” said U.S. Associate Attorney General Stanley E. Woodward Jr. in a statement.

Baylin Technologies Backlog Hits Record C$61M After Kaelus Acquisition
MarketBeat15d agoneutral
Baylin Technologies Backlog Hits Record C$61M After Kaelus Acquisition

Baylin Technologies (TSE:BYL) reported a record backlog of C$61 million in firm purchase orders following its acquisition of Kaelus, as the company seeks to expand its wireless infrastructure, satellite communications and custom antenna businesses. Chief Executive Officer Leighton Carroll said the

Wall St rises on the day but falls for the week; bond yields and Iran in focus
Reuters Videos15d agobearishVIDEO
Wall St rises on the day but falls for the week; bond yields and Iran in focus

<body><p>STORY: U.S. stock indexes closed higher Friday with the Dow gaining about 1 percent and the S&P 500 and Nasdaq rising about four-tenths of one percent each.</p><p>:: Archive</p><p>All three fell for the week as investors were rattled by fluctuating government bond yields and a lack of clarity on progress in the Middle East.</p><p>Friday’s economic data eased concerns, as the U.S. services sector posted its strongest growth in nearly two years powering a sharp acceleration in overall business activity in August.&nbsp;</p><p>This offset a slowing of growth in a manufacturing sector that is being restrained by reduced stock building and supply disruptions from the Iran war.</p><p>Earlier, UBS Global Wealth Management raised its year-end target for the S&P 500 to 8,100, citing a stronger earnings outlook and robust corporate profit growth.</p><p>Kevin Mahn, president and chief investment officer with Hennion & Walsh Asset Management says he expects a bumpy road for stocks in the near term but believes they will finish 2026 on solid footing.</p><p>"So I believe that the market is likely headed for more short-term bouts of volatility up to and through these midterm elections." //</p><p>"But I also believe that once we have some clarity after the midterm elections, in all likelihood, some type of lasting deal between the US and Iran,&nbsp;moderating inflation, and also continued strong earnings, not just from technology companies, but all S&P 500 companies will have a very strong close to the year. "</p><p>Stocks on the move included Ross Stores which added 4 percent after the value retailer raised its annual profit forecasts and reported better-than-expected quarterly results.</p><p>And retail investor platform Robinhood surged nearly 14% as bitcoin touched its highest levels since mid-May.</p></body>

Forkast News15d agoneutral
Nvidia’s $7 Billion Poolside Deal Reveals a Licensing Playbook That Sidesteps Acquisition Scrutiny

Nvidia is effectively centralizing the artificial intelligence supply chain by bypassing traditional mergers and acquisitions in favor of a repeatable, non-traditional financial mechanism. By deploying a licensing-plus-hire strategy, the company absorbs the operational capacity of critical AI startups while avoiding the regulatory scrutiny that typically accompanies full-scale corporate integration. This approach, most recently evidenced by […]

OBOOK Q2 Earnings Call Highlights
MarketBeat15d agoneutral
OBOOK Q2 Earnings Call Highlights

OBOOK (NASDAQ:OWLS), which operates under the OwlTing Group brand, said its first-half 2026 results reflected a transition from building stablecoin-enabled payments infrastructure to commercializing its OwlPay cross-border settlement platform. Management said the company’s reported financial result

Moderna, Merck Cancer Vax Gives Hope
Bloomberg15d agoneutralVIDEO
Moderna, Merck Cancer Vax Gives Hope

Scientists are on the cusp of fulfilling a decades-long quest: to use vaccines to teach the immune system to spot and destroy cancer cells. News that an mRNA cancer vaccine developed by Merck & Co. and Moderna Inc.&nbsp;kept melanoma from returning&nbsp;in a large, late-stage trial marks a critical next chapter for a technology&nbsp;beleaguered&nbsp;by post-pandemic political backlash and years of false starts before then. Bloomberg Opinion Columnist Lisa Jarvis writes "Moderna and Merck's Cancer Vaccine Is a Marvel."

Copper Demand Pushes Freeport-McMoRan to Record
The Wall Street Journal15d agoneutral
Copper Demand Pushes Freeport-McMoRan to Record

Surging copper demand sent Freeport-McMoRan to a new all-time closing high Friday, based on data back to 1995. Share prices closed at $76.66, up 7.6%. Year-to-date, shares are up 51%. Copper has surged as a must-have for the AI buildout and because of U.

SEC charges former Bank of America investment banker with insider trading
Reuters15d agoneutral
SEC charges former Bank of America investment banker with insider trading

The U.S. Securities and Exchange Commission on Friday charged a former senior Bank of America investment banker with insider trading, ‌alleging he tipped a longtime friend and former colleague about a pending merger, allowing ‌the friend to make $18.5 million of illegal profit. Jason Satsky, who was Bank of America’s co-head of Americas power and renewable ​energy banking, allegedly tipped Gavin Wolfe in late 2021 about the potential acquisition of South Jersey Industries, an energy holding company that the bank was advising. The SEC said Wolfe, who runs the firm Evergreen Capital and has been Satsky's friend for more than 20 years, bought more than 2.2 million ‌shares of the South Jersey Gas ⁠parent worth about $53 million, and realized a 36% gain after the company announced an $8.1 billion buyout on February 24, 2022.