BP Fires Chairman Albert Manifold Over Conduct Concerns
The oil giant did not disclose specific allegations but said the board unanimously agreed to dismiss Manifold
Business
OpenAI Chief Sam Altman Says AI Impact On White-Collar Jobs Overestimated
Altman admitted he had previously overestimated how quickly AI would eliminate entry-level white-collar jobs after the launch of ChatGPT in 2022
What Higher Bond Yields Mean For Stocks, Mortgages And Inflation
U.S. bond yields have climbed to their highest levels in a year as investors brace for prolonged inflation linked to the Iran conflict and soaring oil prices
Seattle’s Socialist Mayor Now Panicking Over Businesses Leaving
“I think the claims that millionaires are going to leave our state are, like, super overblown. And if—the ones that leave, like, bye,” Wilson said to applause at Seattle University.
Inflation Fears Push Consumer Mood To Historic Low
The consumer sentiment index dropped to 44.2, marking the third straight monthly decline and falling below the previous record low set in April
What The Latest Unemployment Data Says About The U.S. Economy
According to the U.S. Labor Department, new jobless claims fell by 3,000 to 209,000 for the week ending May 16, below analyst expectations
Auto Giant Stellantis Unveils Major Five-Year Recovery Plan
According to the company, 36 billion euros will be invested into its automotive brands, with North America receiving roughly 60% of the funding
Walmart Warns High Gas Prices Are Hurting Consumers
The retailer forecast annual adjusted earnings between $2.75 and $2.85 per share, below Wall Street expectations, according to LSEG data cited in the report
What SpaceX’s IPO Could Mean For Elon Musk’s Fortune
Reports suggest SpaceX may seek as much as $75 billion, which would surpass Saudi Aramco’s record-setting IPO in 2019
Why James Murdoch Bought New York Magazine And Vox Podcasts
Several Vox-owned brands, including The Verge, Eater, Popsugar, SB Nation and The Dodo, were excluded from the agreement, raising questions about possible future buyers
Why Jeff Bezos Says An AI Bubble Is Nothing To Fear
Bezos acknowledged that the current excitement around AI means nearly every idea is receiving funding, including weak or unrealistic projects
Target Beats Expectations As New CEO Drives Recovery Plan
Net sales rose 6.7% to $25.44 billion during the February-to-April quarter, while comparable sales increased 5.6%.
How Meta Used Parents And Doctors To Defend Instagram Safety
The campaign comes as Meta faces lawsuits and growing political scrutiny over claims that its platforms harm young users
How Is The Iran War Impacting Motor Oil Supplies
Industry executives said shortages of low-viscosity oils such as 0W-20, widely used in newer vehicles, could intensify by summer
Why Are Home Depot Shoppers Still Spending Despite Higher Gas Prices
The company posted adjusted earnings of $3.43 per share on revenue of $41.77 billion, topping Wall Street expectations, according to company figures and analyst estimates cited in the report.
The Job Market Has Only Gotten Worse Since Trump’s “Liberation Day”
As price inflation increases, thanks to the Trump administration’s elective war on Iran, the increasing cost of living, combined with this stagnating job market, will ensure further economic hardship for many Americans.