Nebius shares surge after AI-focused investment fund increases stake

Shares of AI infrastructure company Nebius Group rose sharply in premarket trading after investment fund Situational Awareness became the company’s largest shareholder, boosting investor confidence in the fast-growing artificial intelligence sector. The announcement attracted strong attention on financial markets, with Nebius shares......

CNN sues Perplexity over alleged unauthorized use of news content

American news network CNN has filed a lawsuit against AI-powered search company Perplexity, accusing the firm of unlawfully distributing copyrighted journalistic content without authorization. The legal complaint marks another chapter in the growing conflict between media organizations and artificial intelligence companies over the use of......

CVS restores coverage for Lilly’s obesity drug Zepbound

The American healthcare company CVS Health has announced that it will reinstate insurance coverage for Eli Lilly’s obesity treatment Zepbound, marking a significant shift in its pharmacy benefit policies. The decision was made by CVS Caremark, the company’s pharmacy benefit management division, which confirmed that Zepbound will......

Hormel foods tops quarterly estimates on strong demand for protein-rich foods

Hormel Foods reported stronger-than-expected quarterly results on Thursday, driven by sustained demand for protein-rich food products, particularly chicken and turkey. The U.S.-based food company, known for brands such as Skippy peanut butter, exceeded analysts’ expectations for both sales and profit in its second quarter. The performance......

Snowflake jumps as enterprise demand for data offerings drives forecast raise

Snowflake shares surged in premarket trading after the data analytics company raised its annual product revenue forecast and announced a major long-term partnership in artificial intelligence infrastructure. The company revealed a five-year agreement with Amazon Web Services (AWS) worth approximately $6 billion, strengthening its position......

Meta launches paid subscriptions for Instagram, WhatsApp and Facebook

Meta has officially introduced paid subscription services for its major social media platforms, including Instagram, Facebook, and WhatsApp. The announcement marks a significant step in the company’s strategy to diversify its revenue sources and reduce its heavy dependence on advertising. The new services, called Instagram Plus and......

Exxon wins shareholder backing for Texas move, defeats retail voting proposal

Shareholders of Exxon Mobil Corp have approved the company’s plan to relocate its legal headquarters to Texas, marking a significant victory for the energy giant amid ongoing debates over corporate governance and investor influence. The decision follows recommendations from major proxy advisory firms, which advised investors to oppose......

Bank of America CEO expects 15% growth in Q2 trading revenue

Bank of America expects its trading revenue to increase by about 15% in the second quarter compared with the same period last year, according to CEO Brian Moynihan. The projection reflects improved performance in global financial markets following a period of heightened volatility last year, when markets were affected by concerns over U.S.......

Boeing increases 737 production after consulting U.S. aviation regulator

Boeing is increasing production of its 737 aircraft following discussions with the Federal Aviation Administration (FAA), marking a new step in the company’s efforts to stabilize and expand its manufacturing output. According to Boeing CEO Kelly Ortberg, the company plans to raise monthly production of the 737 model to 47 aircraft,......

American Airlines plans to double India tech hub workforce, sources say

American Airlines Group is planning to significantly expand its technology operations in India by doubling the workforce at its Hyderabad tech hub to around 800 employees by early next year, according to sources familiar with the matter. The expansion reflects a broader trend among global airlines and corporations increasingly relying on......

Open interest in natural gas and power markets reaches record levels on ICE

Global energy trading activity reached a new milestone in May as Intercontinental Exchange (ICE) announced record levels of open interest across its natural gas and electricity markets. The development reflects growing uncertainty in global energy supplies and increasing demand for energy risk management tools. According to the company, total......

Chevron shareholders reject proposal for independent board chair

Shareholders of Chevron voted against a proposal that would have required the company to appoint an independent chairperson separate from the chief executive officer role. The decision was announced during the company’s annual shareholder meeting in Houston. The proposal aimed to separate the positions of board chair and CEO in order......

Canada chooses Swedish early warning aircraft over U.S. competitor

Canada has announced plans to purchase a fleet of advanced early warning aircraft from Swedish defense company Saab instead of selecting a competing American model produced by Boeing. The decision reflects Ottawa’s growing intention to strengthen its strategic independence and diversify its defense partnerships. Prime Minister Mark......

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