THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Donald Trump, a candidate for the presidency of the United States, has implied that Iran had hacked his campaign. Late on Saturday night, the campaign team for the Republican nominee published a statement in which they claimed that the Iranian government had stolen and leaked crucial internal data they had obtained. Following the publication of...  Read more

Cisco According to those in the know, the American networking equipment manufacturer will lay off thousands of workers again this year as it prioritizes investments in cybersecurity and artificial intelligence, two areas with faster growth rates. According to the anonymous sources, the number of affected individuals might be comparable to, or somewhat greater than, the...  Read more

As retailers prepare for a possible port worker strike and Red Sea attacks ahead of a curtailed holiday shopping season, they are stoking a summer import rush to the US. July container imports and freight rates rose, reflecting an earlier-than-usual peak season for the ocean shipping industry, which handles 80% of global trade. Analysts predict...  Read more

In premarket trading on Wednesday, shares of Airbnb fell about 16%. The online travel company had already predicted lower revenue for the third quarter, citing slower demand in the US and shorter booking periods. Since the beginning of the year, domestic travel in the US has been under pressure as more and more Americans have...  Read more

The interest rate on the most popular U.S. house loan fell to its lowest level in 15 months last week as the Federal Reserve hinted it could start cutting its policy rate in September. A labor market downturn bolstered financial market bets on substantial cuts. On Wednesday, the Mortgage Bankers Association reported that the average...  Read more

The aftermarket share price for healthcare provider DaVita increased 3% on Tuesday after the firm boosted its profit prediction for 2024. The business is expecting high demand for its kidney dialysis services. Like its competitors, DaVita saw a precipitous drop in October of last year, but the stock has since recovered somewhat in 2024 as...  Read more

By predicting greater transaction and advertising fees as well as more orders on its online grocery delivery platform, Instacart wagered on Tuesday that its third-quarter gross transaction value and core profit would exceed analysts’ expectations. Following the closing bell, the company’s stock price increased by over 7%. In an effort to stay competitive in the...  Read more

Itau Unibanco is the biggest private lender in Latin America. On Tuesday, it reported a 15.2% increase in second-quarter profits compared to the same time last year. This was due to higher revenues and lower costs. Itau made a net recurring profit of 10.07 billion reals ($1.8 billion) in the quarter that ended in June....  Read more

Elon Musk said on Wednesday on social media platform X that Dell Technologies  and Super Micro Computer would supply server racks for his artificial intelligence firm xAI’s supercomputer. Musk revealed on X that Dell is building half of xAI’s supercomputer racks. In response to another post concerning the second partner, the billionaire responded “SMC”—Super Micro...  Read more

A corporate spokesman told a parliamentary committee on Friday that Facebook owner Meta may restrict Australian news material if the government requires licensing payments. Meta’s regional policy director Mia Garlick told MPs “all options are on the table” if the business would prohibit Australians from sharing news information to save expenses. “There’s a large number...  Read more

Athletes competing in the Olympics may not be the easiest romantic targets this year: In an effort to shield athletes from potential hostility or legal action, the LGBTQ+ dating app Grindr has blocked certain location-sharing capabilities. Several app users have recently discovered that the “Explore” feature—which allows users to change their location and view profiles—is...  Read more

The Oversight Board reported Thursday that Meta failed to remove an explicit, AI-generated image of an Indian public figure until it was questioned by the board, calling on the tech giant to do more to address non-consensual, nude deepfakes on its platforms. In April, the Meta Oversight Board launched a probe into Meta’s handling of...  Read more

In a court filing late Friday, the Justice Department warned that letting TikTok’s parent corporation run it might allow the Chinese government to surreptitiously influence US elections. In a federal appeals court petition, prosecutors worried that TikTok’s algorithm may be used for “secret manipulation” to “influence the views of Americans for its own purposes.” Among...  Read more

Home Depot says people are less likely to spend money on home improvements because they are unhappy with the economy. The big store for home improvements, which is a good indicator of customer spending and the housing market, lowered its sales goals for the year. Higher interest rates and worries that the economy is getting...  Read more

As a venture capitalist, JD Vance often talked about the rules he followed when investing in a business: the company should not only make money, but it should also help American neighborhoods. He said that’s why he put money into AppHarvest, a new company that offered a high-tech future for farming and the people who...  Read more

  In recent years, some Black voters have left Democrats. Will Kamala Harris convince them to vote Democratic again? Kamala Harris replaced Joe Biden as Democratic Party nominee less than a week after he dropped out. After receiving backing from former President Barack Obama and House Speaker Nancy Pelosi, she became the Democratic Party nominee...  Read more

U.S. auto safety regulators announced on Friday the preliminary evaluation of about 332,288 Hyundai SUVs in the US regarding a potential defective seat belt. Specific 2020–2023 Hyundai Palisade SUVs are the subject of the inquiry. According to the National Highway Safety Administration, there is a potential for seat belts to unlatch unexpectedly and without warning,...  Read more

As production of the Ram 1500 Classic vehicle comes to a close, Stellantis the parent company of Chrysler, is ending production and potentially laying off as many as 2,450 factory workers at its Warren vehicle assembly plant north of Detroit. The plant is transitioning from a two-shift to a one-shift operating pattern in general assembly,...  Read more

Retail investors were buyers during the recent rollercoaster in U.S. stock markets, taking advantage of a sharp decline in popular tech shares, according to various research reports. However, they also exhibited signs of caution. Despite the fact that indexes fell by about 2.6% to 3.4% in busy trading on Monday due to a wave of...  Read more

Children’s Health Defense, a Robert F. Kennedy Jr.-founded anti-vaccine group, attempted to have Meta Platforms overrule its censorship of Facebook posts that spread false information about the safety and efficacy of vaccines. The 9th U.S. Circuit Court of Appeals in Pasadena, California, ruled on Friday that the nonprofit failed to demonstrate that Meta was either...  Read more

Lufthansa’s Disco Lufthansa’s leisure subsidiary, Discover Airlines, has agreed to raise pay for workers in the cockpit and the cabin. This is the first collective bargaining agreement the company has had since it started running in 2021, according to the union and the company. Both sides said the deal is good until the end of...  Read more

Industry data suggests that Chinese airlines are gaining market share on international routes due to weak Chinese travel demand, increased costs, and longer flight times to avoid Russian airspace. After the pandemic, Western airlines like British Airways and Qantas Airways are canceling flights to China, while Chinese airlines are expanding worldwide. China’s carriers fly more...  Read more

Indian baby items store FirstCry raised $501 million after a slow start. The IPO raised $3.36 billion on Thursday as investors bet on infant and kid product development in the world’s most populous country. FirstCry, sponsored by SoftBank TPG and Mahindra & Mahindra got offers for 606.4 million shares, 12 times the shares on offer,...  Read more

The Steel Authority of India (SAIL) reported a drop in its first-quarter profit on Thursday. This was due to weak domestic demand, as prices continued to fall and the government cut spending because of the elections. The state-owned company made 817.8 million rupees (roughly $10 million) less money in the most recent quarter, a decrease...  Read more

A severe U.S. employment market slowdown that sparked days of global stock-market turbulence also raised speculation that the Federal Reserve may lower rates before its September meeting. An interest rate futures contract expiring later this month that follows Fed policy expectations rose to a two-month high early in the week in a bet that rates...  Read more

Democrats and Republicans fight over issues in presidential elections. They also downplay common ground. Priorities shift; parties waiting for a decisive election wish to negotiate harder. That impedes bipartisan efforts on permitting reform and cannabis producer financial access, which are crucial. Consider power wires. Energy projects waiting to connect to the grid have more gigawatts...  Read more

The New York Time easily surpassed predictions for digital subscriber growth in the second quarter, thanks to its policy of bundling services and strong growth at its sports news website. The Athletic during a summer when the Euros and other events took up most of the time. The UEFA Champions League and the NBA playoffs...  Read more

Walt Disney reported on Wednesday quarterly earnings that exceeded Wall Street expectations, buoyed by the success of animated Pixar film “Inside Out 2”, which helped overcome a profit decline at theme parks. April-June operating income nearly tripled at its Entertainment unit, with the combined streaming businesses of Disney+, Hulu and ESPN+ posting a profit for...  Read more

According to a statement made on Wednesday by the U.S. auto safety commission, 77,131 Nissan vehicles are currently under preliminary review due to reports of a problem with the steering tie rod. The National Highway Traffic Safety Administration has announced that it will be conducting an inquiry into Nissan’s 2021 Rogue crossover models. The investigation...  Read more

After industry worries that some biodiesel producers may be using false feedstocks to obtain lucrative government subsidies, the U.S. Environmental Protection Agency has investigated at least two renewable fuel businesses’ supply chains. Refineries can receive state and federal environmental and climate subsidies, including EPA Renewable Fuel Standard trading credits, for making biodiesel from sustainable feedstocks...  Read more

It is quite ironic how the recent surge of volatility caught financial markets off guard, despite its predictable nature. Trades that are only viable—and only very profitable—in a world of low volatility are suddenly vulnerable when “vol” spikes. Although traders may hold onto these positions for extended periods, it is important to note that they...  Read more

Democratic presidential contender Kamala Harris chose Minnesota Governor Tim Walz as her running mate on Tuesday, choosing a progressive policy advocate and a simple speaker from America’s heartland to win over rural, white voters. No campaign officials responded to calls for comment. official announcement was expected Tuesday morning. A former teacher and 60-year-old U.S. Army...  Read more

Analysts believe a recent crash in foreign equity markets is more due to investors winding down carry trades than a shift in the U.S. economic outlook. They added that Friday’s weaker-than-expected U.S. jobs data caused the market sell-off, with Japan’s blue-chip Nikkei index on Monday suffering its biggest one-day rout since the 1987 Black Monday...  Read more

Family members prayed and honored Patricia Portillo and Brayan Godoy. On Saturday, people gathered outside a closed Las Colinas Chick-fil-A to memorialize two employees who were murdered on Wednesday. Family and friends of Patricia Portillo and Brayan Godoy placed flowers at the restaurant’s entrance sign and prayed. Prisoner Oved Argueta is suspected of the shooting....  Read more

South Dallas AT&T customers lose service following copper cable theft. Due to copper wire theft, AT&T customers in South Dallas are experiencing lengthy service disruptions, which frustrates them. AT&T claims copper wire theft is causing days-long phone and internet outages in South Dallas. Frustrated neighbors on Green Hill Road in South Oak Cliff claim service...  Read more

On Friday, Renault-backed premium EV company BeyonCa and Dongfeng Motor announced plans to build Hong Kong’s first vehicle brand’s final assembly factory and worldwide headquarters. Hong Kong has attempted to diversify and grow other businesses after the 2019 protests and epidemic hit its economy. “We aim to achieve a breakthrough in Hong Kong’s auto manufacturing...  Read more

After Biden failed to fend off Trump’s accusations and bogus allegations, his aides rushed to control the repercussions. Trump Media & Technology Group which owns Truth Social, up 5.5% to $38.62, while Phunware which worked on Trump’s 2020 election campaign app, rose 1.6% to $6.4. Conservative-favored video-sharing site Rumble rose 1.4% to $5.80. “We will...  Read more

President Luiz Inacio Lula da Silva signed a decree on Wednesday setting a continuous inflation objective beginning in 2025 with quarterly central bank accountability. National Monetary Council (CMN), the country’s primary economic policy authority, sets the aim under the edict. In a Wednesday meeting, the CMN reaffirmed the 3% aim with a 1.5 percentage point...  Read more

Beginning Friday, JPMorgan’s widely followed developing market debt index will include India’s government bonds. The September shift allowed billions of dollars to enter the world’s fifth-largest economy. Five things to know as global bond investors invest more in South Asia and stock markets see greater portfolio inflows. WHAT INFLOWS? Indian bonds should receive $2 billion...  Read more

Three sources claimed banks advising Hyundai on its India IPO may gain $40 million in fees, a windfall in a sector where banks struggle to generate money due to cost-conscious customers and fewer major transactions. That would be the second-highest fee pool for investment banks working on an IPO in India, a bright light in...  Read more