A US appeals court has allowed a mother of a ten-year-old to sue TikTok over the child participating in a viral challenge that had participants choke themselves until passing out. The court has ruled that despite the company not making the content, its algorithms suggested it to the minor.
Dick's Sporting Goods have revealed that the firm's information systems have been accessed by an unauthorized party. The attacker has managed to access confidential data.
During the past few trading sessions, the stock price of Super Micro Computer has plummeted, as the company announced a delay of the revealing of its annual financial report. The firm announced that it needs more time to assess the effectiveness of internal controls. The announcement happened a day after Hindenburg research shorted the firm on alleged accounting manipulation.
The US producer of Jif peanut butter, J.M. Smucker has reduced annual sales and profit expectations for 2024, as the firm's customers have switched to cheaper alternatives.
Due to higher than expected demand for apparel, Abercrombie & Fitch has increased its 2024 sales forecasts. However, since the event, the stock price has experienced a decline, as the firm's stockholders expected a higher surge of demand and potential earnings.
US corporate world has reportedly turned to foreign exchange options in an effort to protect their cash flows from potential turmoil from the US presidential election and the Fed interest rate cuts.
The Chinese government has started an inquiry into EU subsidies of dairy product imports to China. The investigation is seen as a retaliation to EU's tariffs on Chinese made electric vehicles.
Dell Technologies have reported resilient demand for servers, which in turn has resulted in the firm increasing its annual profit expectations.
The United States Workplace Safety Agency has started an investigation into the death of two Delta Air Lines employees at a company maintenance shop.
The self-driving truck company has settled a lawsuit that accused the company of defrauding shareholders by overstating safety records and hiding insider control of a Chinese trucking rival. TuSimple has paid out $189 million in settlements.
The US Drug Enforcement Administration has postponed the potential cannabis reclassification to December 2, due to the upcoming US presidential election. The news have caused a drop of cannabis firm stocks.
The US exchange Nasdaq has reported that it has requested the approval of the US Securities Exchange Commission for the launch of options on a BTC index.
The US Commerce Department has announced that it would award Hewlett-Packard $50 million to expand an existing semiconductor facility in Oregon.
The EV unit of China Evergrande Group has announced that the unit is set to suffer a higher than expected first-half of 2024 financial loss.
The rating agency Moody's has revealed that a potential military conflict between Hezbollah and Israel is bound to impact Israel's sovereign debt credit rating. However, the firm does not expect the ongoing tensions to escalate into an all out war.
The release of a higher than forecast August US Consumer Confidence index has strengthened the case that the odds for a US recession have decreased. Markets expected the index to show a reading of 100.9 instead of the released 103.3.
JPMorgan Chase has been sued for allegedly using the bank's cash sweep program to short-change customers while pretending to act as fiduciary. In general, the bank is accused of sweeping customer's idle cash into accounts with low interest rates.
On a month-on-month basis, in June, US house prices have declined, as house buyers are expecting lower mortgage rates, before making a purchase.
The world's largest chip company Nvidia has reported higher than expected quarterly earnings and revenue. However, supposedly due to missing gross margin forecast, the stock was sold off in the after-market and pre-market hours. The stock is set to start the day's trading with a minor gap down of 3.30%.
The United States statisticians have just released the Preliminary quarterly GDP. The GDP was forecast to show an increase of 2.8%. Actual number is 3.0%. The US Dollar initially reacted to the news with a minor spike up, as the good data is sort of a signal that the Fed might not need to cut rates, despite the rate cut
Reuters has reported that the Board Member of Intel Lip-Bu Tan quit due to differences with directors, including the CEO Pat Gelsinger. Tan saw the firm as too risk-averse, lagging in AI strategy and having a bloated workforce.
Cerebras Systems have announced the launch of a new tool for AI development. The new tool will allow developers to access the firm's chips to run applications. Cerebras has commented that the new product will be cheaper than the use of Nvidia processors.
On Thursday morning, the publication of the Spanish Flash CPI revealed information that inflation in the Euro Zone might be far below what was previously assumed. The Spanish Flash CPI was expected to show a stunning decline of inflation, down to 2.4% from the previous 2.8%. The actual data was 2.2%, which is almost at the ECB target.
UBS Wealth Management have increased their expectations for a recession in the United States from 20% up to 25%. The bank bases the increase on a worsening labour market.