Business
BlackRock makes $700 million investment in Australian battery storage
Wind turbines in Australia. Earlier this year, a report from Australia’s Clean Energy Council said renewables were responsible for 32.5% of the country’s electricity generation in 2021. Josh Hawley | Moment | Getty Images A fund under the management of BlackRock Real Assets is set to acquire Akaysha Energy, an Australian firm that develops battery […]
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Biden’s corporate tax hike in the Inflation Reduction Act won’t hurt most U.S. companies, Wall Street analysts say
Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference about the Inflation Reduction Act outside the U.S. Capitol on August 4, 2022 in Washington, DC. Drew Angerer | Getty Images Business advocacy groups lobbied hard against the 15% minimum tax rate for large corporations that just passed Congress as part of the the […]
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CNBC Chairman Mark Hoffman to step down in September
Mark Hoffman, Chairman of CNBC Mark Hoffman, CNBC’s president since 2005 and chairman since 2015, announced Tuesday he will step down on Sept. 12. Hoffman is leaving of his own accord. NBCUniversal hired Cesar Conde to oversee NBC News, MSNBC and CNBC in May 2020 to bring more centralized leadership to the group. KC Sullivan will return […]
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Polio has been circulating for months in New York City area and poses an ongoing risk to the unvaccinated, CDC says
Polio has been circulating locally in the New York City metropolitan area for months after an individual introduced the virus from abroad, according to the Centers for Disease Control and Prevention. An unvaccinated young adult in Rockland County, a suburb of New York City, caught polio in June and suffered paralysis. The individual had not […]
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American Airlines agrees to buy 20 supersonic planes from Boom
American Airlines has agreed to purchase 20 supersonic Overture planes from Boom Supersonic, the companies announced Tuesday. The deal is the second firm order in the last two years for Boom, still years from building its first commercial airplane. United Airlines made a commitment last year to buy 15 Overture jets. “Passengers want flights that […]
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Stocks making the biggest moves premarket: Home Depot, Walmart, Masimo and more
Check out the companies making headlines before the bell: Home Depot (HD) – Home Depot reported a quarterly profit of $5.05 per share, 11 cents above estimates, with revenue and comparable store sales also topping Street forecasts. However, the number of customer transactions fell during the quarter. Home Depot moved between gains and losses in […]
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Citi downgrades Zoom to sell as growing Teams competition could push the stock down 20%
Growing competition from Microsoft Teams, coupled with a tough macroenvironment, could lead to even more pain for Zoom Video shareholders, according to Citi. Analyst Tyler Radke downgraded Zoom to sell/high risk from neutral/high risk. He also trimmed his price target ahead of its earnings report next week . “Zoom’s post-COVID growth trajectory has always been […]
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‘Avatar,’ Spider-Man and Star Wars return to the big screen as summer box office winds down
Tom Holland stars as Peter Parker in “Spider-Man: No Way Home.” Sony Spider-Man, the Na’vi and a ragtag group of galactic rebels are making their way back to theaters at the end of the summer. Disney is releasing Star Wars prequel “Rogue One” and “Avatar” in domestic theaters in the coming weeks, while Sony will […]
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SoftBank-backed Ola Electric wants to launch a made-in-India EV in 2024
Ola CEO Bhavish Aggarwal appears on screen during a presentation in August 15, 2021. The company’s EV-arm, Ola Electric, plans to launch an electric car in 2024. Samyukta Lakshmi | Bloomberg | Getty Images The CEO of Ola Electric said Monday his firm would launch an all-electric vehicle that can go from 0 to 100 […]
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Apple tells employees to work at the office three times per week starting in September
An aerial view of Apple Park is seen in Cupertino, California, United States on October 28, 2021. Tayfun Coskun | Anadolu Agency | Getty Images Apple employees who work in Santa Clara County near the company’s California headquarters have been called back to the office starting in September, where they are expected to work three […]
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