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Dow soars over 1,100 points as Trump sparks hope on Wall Street that Iran war is nearing end
Wall Street surged on Tuesday, lifted by speculation about a potential de-escalation in the Middle East conflict that has sent oil prices soaring and fueled fears of global inflation in recent weeks. All three major indexes posted their best day since May after...
Trendy tech bro sneaker brand Allbirds — once worth $4B — sells assets for chump change
Allbirds – the trendy, eco-friendly wool sneaker beloved by tech bros and celebs like Leonardo DiCaprio – is selling its assets for $39 million, a mere fraction of its one-time $4 billion valuation. It’s a severe fall from grace for the San Francisco-based...
Tech CEO Aravind Srinivas slammed after saying AI layoffs are fine because people hate their jobs anyway
Perplexity AI CEO Aravind Srinivas is coming under fire for arguing people should embrace being replaced by artificial intelligence since they don’t like their jobs, anyway. The co-founder of the San Francisco-based company even said on the All-In podcast that...
Xerox CEO who oversaw company’s stock plumet 90% steps down effective immediately
Xerox’s top boss is stepping down after a brutal collapse that saw the company’s stock crater more than 90% — capping a turbulent tenure marked by layoffs, dealmaking and deepening losses. Steve Bandrowczak, who took home total compensation of $14.3 million in...
The 94-year-old South African recluse who clinched a $29.1B deal for his food wholesale empire
A 94-year-old South African recluse has sold his food empire for $29.1 billion – growing his business from a single Brooklyn warehouse 50 years ago into a restaurant-supply behemoth. Sysco, the nation’s largest food distributor, on Monday announced it will...
Mark Cuban has one major regret after selling Dallas Mavericks
Mark Cuban says he has one big regret after cashing out of the Dallas Mavericks — and it’s not the sale itself. “I don’t regret selling, I regret who I sold to. Yeah, yeah, I made a lot of mistakes in the process and I’ll leave it at that,” the billionaire...
Warren Buffett, NBA star Stephen Curry team up on charity lunch
Warren Buffett is reviving his famous charity lunch, this time teaming up with basketball superstar Stephen Curry to spend time with the winner of an auction. Bidding on eBay will begin on May 7 and last through May 14. The winner can invite up to seven guests...
Gold has its worst month since 2008 recession — why the Iran war is hitting metals
Gold is on track for its worst monthly decline since 2008 as a historic energy supply shock amid the Iran war spooks investors who were hoping for interest-rate cuts. Spot prices are poised for a drop of 14.6% in March – the largest monthly fall since October...
JPMorgan CEO Jamie Dimon has blunt message for Wall Street about Iran war jitters
A decisive US victory in the Iran war is far more important than market swings, JPMorgan Chase CEO Jamie Dimon said Tuesday, after weeks of Wall Street jitters sparked by the conflict. Dimon, the head of the US’ largest lender, told “Fox & Friends” that...
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