Business
Business and money stories with clear, human context.
Dangote Refinery's IPO Campaign Just Lit Up Times Square
Aliko Dangote and Davido stood beneath a Nasdaq billboard in Times Square reading "Made in Nigeria. Built for the World," as the $1.6 billion Dangote Refinery share offer goes global.
CoreWeave Prices Upsized $3.7 Billion Convertible Notes Offering to Fund AI Data Center Buildout
The Nvidia-backed AI cloud computing company increased its planned debt raise from $3 billion to $3.7 billion after investor demand, as it races to fund data centers for its ballooning contract backlog.
Warren Buffett Steps Down as Berkshire Hathaway Chairman After 56 Years; Son Howard Takes Over
At 96, Buffett is handing the chairman title to his son Howard, a former sheriff and war photographer, while Greg Abel stays on as CEO. Buffett becomes chairman emeritus and remains on the board.
Nike Adds LVMH Executive Alexandre Arnault to Its Board as Turnaround Push Continues
Nike appointed Alexandre Arnault, deputy CEO of LVMH's wine and spirits division, to its board of directors, bringing luxury-sector experience as the company tries to reverse a five-year stock slide.
Jobless Claims Fall to 196,000, Lowest Since July
New unemployment claims dropped to 196,000 last week and continuing claims hit a two-year low, a day after the Fed raised interest rates citing labor-market strength.
Generac Shares Soar 45% on $8 Billion Amazon Data Center Generator Deal
Generac will supply up to $8 billion in backup generators to Amazon's data centers, with Amazon taking a warrant stake worth up to $340 million in the deal.
iPhone 18 Pro Goes on Sale Today — Here's What's Actually New, and What It Costs
The iPhone 18 Pro and Pro Max hit stores in 65+ countries today. Here's the real upgrade list: A20 Pro chip, variable-aperture camera, more battery, and a higher price.
Retail Sales Jump 1.2% in August, Beating Forecasts After a July Pullback
Commerce Department data shows retail sales rose 1.2% in August, nearly double the 0.7% economists expected, landing the same week the Fed raised interest rates.
Fed Raises Rates for First Time Since 2023, Citing Inflation "Too High for Too Long"
The Federal Reserve hiked its benchmark rate a quarter point to 3.75%-4% on a unanimous vote, with Chair Kevin Warsh warning inflation hasn't meaningfully improved.
Enova Wanted to Become a Bank. It Just Gave Up and Watched Its Stock Drop 17%.
Enova International withdrew its regulatory applications to acquire Grasshopper Bancorp, sending its stock down nearly 20% and ending its bid to become a chartered bank.
A 30-Second Ad Cost Good Good Golf Its CEO, Its President, and Its Biggest Sponsor
Good Good Golf's CEO and president both left the company after a co-branded Callaway ad depicting a man shoving a woman to the ground sparked immediate backlash.
Anthropic's CEO Just Warned an AI Swarm Could Take Over the Internet. Here's What He Actually Said.
Dario Amodei's viral essay "We Must Pace the Frontier" warns a rogue AI swarm could seize the internet within 6-12 months — and commits Anthropic to unprecedented outside oversight.
This $17.5 Billion Startup Just Sold for 90% Less Than It Was Once Worth
Bending Spoons is acquiring Miro for $1.36 billion — a 90% markdown from its 2021 valuation, and the second fallen software unicorn the Italian buyer has picked up in five weeks.
Nvidia Just Spent $13 Billion to Keep an AI Platform From Becoming Nvidia's
Nvidia is acquiring Hugging Face, the open-source platform 18 million developers use to build and share AI models, for $12.93 billion — and promising not to change how it works.
Uber Is Cutting 3,300 Jobs. The CEO Says It's Not About AI.
Uber is cutting roughly 10% of its global workforce — about 3,300 jobs — in its largest round of layoffs since the pandemic, aiming to shrink management layers and free up money for ridesharing, delivery, and robotaxis.
A $38 Sandwich Is Stealing the Show at the U.S. Open
Salt Hank's, the viral $38 French dip sandwich from a self-taught TikTok chef, made its U.S. Open debut this year — selling 1,500 sandwiches a day, five times what the original West Village shop does.
Volkswagen Approves Deepest Restructuring in Its 89-Year History, Cutting 100,000 Jobs Total
Volkswagen's supervisory board unanimously approved cutting 50,000 more jobs on top of 50,000 already planned, along with halving its model lineup, as it battles Chinese competition and rising US tariffs.
Apple's iPhone Event Wednesday Will Be the First Without Tim Cook in 15 Years
John Ternus takes the stage as CEO for the first time at Apple's September 9 event, the first iPhone launch since 2011 not fronted by Tim Cook, who has moved into the newly created role of executive chairman.
Singapore Man Set to Plead Guilty in $240 Million Bitcoin Theft Case
Malone Lam, accused of orchestrating one of the largest crypto thefts in U.S. history, faces a plea hearing in the first-ever Bitcoin RICO prosecution.
A Stock Nobody Wanted Just Jumped 70% in a Week. The CEO Says This Is Only the Start.
ChargePoint spent years bleeding cash and losing believers. One earnings beat later, its CEO is calling the turnaround real — and pointing to an 11-minute charger as proof.
For 55 Years, Southwest Refused to Do This One Thing Every Other Airline Does. Now It's Building Eleven of Them.
Southwest Airlines is opening its first-ever airport lounges in 2027, a move that quietly ends decades of the carrier's no-frills identity.
Tesla Put a Car With No Steering Wheel on the Streets of Austin. Federal Regulators Showed Up Within Hours.
The Cybercab has no brake pedal, no steering wheel, and no mirrors. Regulators want to know exactly how Tesla decided that was legal.
The Pentagon Now Owns Part of an Oil Company Run by a Man Under Money-Laundering Investigation in Three Countries.
The deal gives the US majority control over 65 billion barrels of Venezuelan crude — enough to make one company the world's second-largest oil reserve holder after Saudi Aramco.
The Economy Added 162,000 Jobs in August. Men Got 4,000 of Them.
Women accounted for 98% of last month's payroll gains, driven largely by healthcare — the latest data point in a labor-market shift that's already seen women overtake men in total US employment.
The AI Platform That Got Hacked by a Rogue OpenAI Agent Just Sold to Nvidia for $13 Billion.
Hugging Face turned down $500 million from Nvidia last year to stay independent. Two months after a rogue AI agent breached its systems, it just accepted $12.9 billion instead — Nvidia's second-biggest deal ever.
The WNBA's First-Ever Commissioner Is Stepping Down. Her Own Players Called Her Leadership the Worst in the World.
Cathy Engelbert turned the WNBA into a $3.1 billion business. She's also spent the past year being publicly accused by her own MVP runner-up of ignoring players entirely. Now, after seven years, she's retiring.
The Fed Meets in Two Weeks. The Vice President Just Called Their Restraint 'Monetary Malpractice.'
Wall Street just posted its best rally in weeks on bets the Federal Reserve is about to bend. JD Vance isn't waiting to find out — he's already calling on the central bank to cut rates, in public, from the White House.
Nvidia Just Bought the AI Platform That 18 Million Developers Rely On
Nvidia is paying nearly $13 billion for Hugging Face, the open-source hub used by more than 18 million developers and 200,000 companies — its second-biggest deal ever, and a bet on staying essential even to AI labs that don't buy its chips.
Anthropic's Co-Founder Allegedly BitTorrented Millions of Books. Now Sony and Warner Want Billions for the Songs.
Sony Music Publishing and Warner Chappell just sued Anthropic, alleging its own co-founder personally pirated millions of books to help train Claude. Two music publishers, thousands of songs, and a lawsuit that could cost more than the $1.5 billion Anthropic already paid to settle a nearly identical case.
Bill Gates Says "The Turbulent AI Era Is Here" — and Warns the World Isn't Ready
In a 6,000-word essay and a rare TV interview, the Microsoft co-founder warns AI could permanently wipe out jobs, be turned into a bioterrorism or cyberattack tool, and reshape childhood — while insisting he still believes AI could be humanity's greatest equalizer.
Meta Just Agreed to Pay Up to $16.68 Billion Over Claims It Got Kids Addicted to Instagram and Facebook
Facing a federal trial in Oakland over claims it designed its apps to hook teenagers, Meta reached a settlement with 29 states that also forces mandatory time limits and nighttime blackouts for under-18 users.
Canada Announces $20 Billion in Retaliatory Tariffs on US Goods, Effective September 8
Ottawa is matching Washington "dollar for dollar, rate for rate" on more than 700 products, including doubling tariffs on American steel and aluminum, alongside a C$7.5 billion support package for affected businesses and workers.
All Eyes on Kevin Warsh as He Prepares His First Jackson Hole Speech as Fed Chair
Markets are looking to Friday's keynote for clarity on how the new Fed chair plans to handle inflation still running above target, with roughly one-in-three odds priced in for a September rate hike.
US Reopens Arizona Border Crossing to Mexican Cattle, But Economists Doubt It Will Lower Beef Prices
The Douglas, Arizona crossing reopened Monday after a screwworm-driven closure, but economists say rebuilding herds and import flows will take months to years, not weeks.
Nvidia Warns Biggest Customers of AI Server Price Hikes Above 15% as Memory Costs Soar
Microsoft, Google and Oracle have reportedly been notified of the increases on Vera Rubin and Grace Blackwell systems, driven by a surging DRAM market some are calling "RAMageddon."
US Treasury Doubles Bond Buybacks as Long-Term Yields Hit Their Highest Since 2007
Scott Bessent's department is boosting buybacks of 10-to-30-year debt to $4 billion per operation after weak demand at a recent 20-year auction. Critics call it "debt reshuffling, not debt reduction."
Gold Hits New Highs as August Rally Adds Nearly $5 Trillion in Value
Gold is up roughly 15% this month, breaching $4,600 an ounce, as a weaker dollar, heavy central bank buying and a bigger U.S. Treasury bond buyback program send investors toward the safe-haven metal.