https://sevenlights.org/categories/business/ Recent content in Business on Seven Lights Hugo en-us Sat, 07 Nov 2026 16:30:00 -0500 https://sevenlights.org/2026/11/07/berkshire-hathaway-q3-results/ Sat, 07 Nov 2026 16:30:00 -0500 https://sevenlights.org/2026/11/07/berkshire-hathaway-q3-results/ Berkshire Hathaway spent about $9.6 billion repurchasing its own shares in the third quarter, more than double the previous quarter, while operating earnings fell 5.8 percent as insurance underwriting weakened. https://sevenlights.org/2026/11/07/anthropic-ipo-valuation-pushback/ Sat, 07 Nov 2026 03:30:00 -0500 https://sevenlights.org/2026/11/07/anthropic-ipo-valuation-pushback/ Prospective investors have pushed Anthropic to lower the roughly $1.5 trillion valuation it is preparing for a November listing, with some floating $1.2 trillion or less, and the roadshow may slip. https://sevenlights.org/2026/11/07/tesla-cybertruck-wind-down/ Sat, 07 Nov 2026 03:30:00 -0500 https://sevenlights.org/2026/11/07/tesla-cybertruck-wind-down/ Elon Musk told investors the Cybertruck will end production at the Texas factory around mid-2027, with the line retooled for the Cybercab robotaxi, closing a money-losing attempt to crack the American pickup market. https://sevenlights.org/2026/11/06/ai-selloff-deepens-asia-nikkei-bear-market/ Fri, 06 Nov 2026 03:00:00 -0500 https://sevenlights.org/2026/11/06/ai-selloff-deepens-asia-nikkei-bear-market/ The global sell-off in artificial-intelligence shares deepened Friday in Asia, with Japan’s Nikkei 225 falling the most in more than a year and sliding into a technical bear market. https://sevenlights.org/2026/11/06/data-center-backlash-ai-trade-big-tech/ Fri, 06 Nov 2026 03:00:00 -0500 https://sevenlights.org/2026/11/06/data-center-backlash-ai-trade-big-tech/ Election results and a wave of ballot measures have heightened fears of data-center regulation, with more than half the projected United States hyperscaler pipeline sited in states newly open to restrictions. https://sevenlights.org/2026/11/06/stocks-erase-post-midterm-rally/ Fri, 06 Nov 2026 03:00:00 -0500 https://sevenlights.org/2026/11/06/stocks-erase-post-midterm-rally/ Wall Street’s best post-midterm rally in 44 years lasted one day: the Nasdaq plunged more than 5 per cent Thursday into correction territory as technology shares shed roughly $3 trillion. https://sevenlights.org/2026/11/05/musk-midterm-spending-buys-nothing/ Thu, 05 Nov 2026 03:50:00 -0500 https://sevenlights.org/2026/11/05/musk-midterm-spending-buys-nothing/ Elon Musk spent nearly $500 million, more than any person in a single election cycle, backing Republican candidates in the midterms. His largest investment, at least $45 million for Ken Paxton in Texas, lost to Democrat James Talarico. https://sevenlights.org/2026/11/05/data-center-ballot-measures-midterms/ Thu, 05 Nov 2026 03:50:00 -0500 https://sevenlights.org/2026/11/05/data-center-ballot-measures-midterms/ Forty-four of the 45 data-centre measures on midterm ballots nationwide ran against the industry. Harwood, North Dakota, population 940, was the sole constituency to vote the other way, rejecting a home-rule measure 325 to 105. https://sevenlights.org/2026/11/04/wall-street-futures-democratic-sweep/ Wed, 04 Nov 2026 05:45:00 -0500 https://sevenlights.org/2026/11/04/wall-street-futures-democratic-sweep/ US equity futures erased steep early losses overnight as the Democratic sweep in the midterm elections was judged largely priced in, with tech earnings next in focus. https://sevenlights.org/2026/11/03/binance-reopens-after-record-hack/ Tue, 03 Nov 2026 03:30:00 -0500 https://sevenlights.org/2026/11/03/binance-reopens-after-record-hack/ Binance said it had replaced about 95 per cent of the assets stolen in the $6.3 billion attack attributed to North Korean hackers, as customers withdrew a net $3.64 billion in the first day of reopened trading. https://sevenlights.org/2026/11/03/oil-falls-iran-war-diplomacy-hopes/ Tue, 03 Nov 2026 03:30:00 -0500 https://sevenlights.org/2026/11/03/oil-falls-iran-war-diplomacy-hopes/ Brent crude dropped more than six per cent to $105.55 a barrel, its lowest in over two weeks, after reports that Iran’s supreme leader had granted his government powers to negotiate an end to the war. https://sevenlights.org/2026/11/01/binance-hack-fbi-north-korea/ Sun, 01 Nov 2026 16:30:00 -0500 https://sevenlights.org/2026/11/01/binance-hack-fbi-north-korea/ The FBI blamed North Korea for the $6.3 billion theft from crypto exchange Binance, the largest cyber heist on record, as the company reported $3.64 billion of customer outflows after resuming withdrawals. https://sevenlights.org/2026/11/01/ai-spending-tech-stocks-october/ Sun, 01 Nov 2026 03:48:00 -0400 https://sevenlights.org/2026/11/01/ai-spending-tech-stocks-october/ Technology shares fell for a second day on Friday as investors questioned the returns on artificial intelligence spending, pushing the Nasdaq 100 into its third correction of 2026 and capping the index’s worst month since March 2025. https://sevenlights.org/2026/10/31/intel-worst-share-drop-decades/ Sat, 31 Oct 2026 03:43:00 -0400 https://sevenlights.org/2026/10/31/intel-worst-share-drop-decades/ Intel shares plunged 29 per cent on Friday, their worst day since the 1970s, after the chipmaker issued weaker guidance hit by plant shutdowns in Israel and a soft personal computer market. https://sevenlights.org/2026/10/31/doordash-buy-instacart-17-billion/ Sat, 31 Oct 2026 03:42:00 -0400 https://sevenlights.org/2026/10/31/doordash-buy-instacart-17-billion/ DoorDash agreed Friday to acquire Instacart for about $17 billion in cash and stock, the largest deal yet in grocery delivery and one that combines the two largest United States players in the market. https://sevenlights.org/2026/10/30/weil-gotshal-alixpartners-wind-down/ Fri, 30 Oct 2026 03:48:00 -0400 https://sevenlights.org/2026/10/30/weil-gotshal-alixpartners-wind-down/ Weil Gotshal & Manges, the New York firm of 1,200 lawyers, announced Wednesday it is shutting down after a wave of partner departures. Restructuring adviser AlixPartners will steer the dissolution of the 95-year-old practice. https://sevenlights.org/2026/10/30/binance-6-3-billion-heist-withdrawals-halted/ Fri, 30 Oct 2026 03:47:00 -0400 https://sevenlights.org/2026/10/30/binance-6-3-billion-heist-withdrawals-halted/ Binance suspended withdrawals after a theft of about $6.3 billion, the largest crypto heist on record, its founder said. Digital assets fell across the market as news of the loss spread. https://sevenlights.org/2026/10/29/oil-diplomacy-houthi-escalation/ Thu, 29 Oct 2026 03:56:00 -0400 https://sevenlights.org/2026/10/29/oil-diplomacy-houthi-escalation/ Brent slipped below $114 a barrel as Vice President Vance’s contact with a senior Iranian official and signs of renewed mediation eased fears of resumed US strikes, though Houthi attacks on Aden airport and Saudi Arabia keep the market tense. https://sevenlights.org/2026/10/28/anthropic-ipo-asia-proxy-bets/ Wed, 28 Oct 2026 04:45:00 -0400 https://sevenlights.org/2026/10/28/anthropic-ipo-asia-proxy-bets/ Anthropic’s S-1 filing for what could become the largest stock listing ever, at a valuation near $1.5 trillion, is driving Asian investors into proxy bets, while its multi-chip compute strategy raises questions about Nvidia’s pricing power. https://sevenlights.org/2026/10/28/iphone-duo-screen-replacements/ Wed, 28 Oct 2026 04:45:00 -0400 https://sevenlights.org/2026/10/28/iphone-duo-screen-replacements/ Apple said it is aware of an inner-display issue affecting a small number of its new foldable iPhone Duo units and will replace affected devices, as owners post cracked screens and memes online. https://sevenlights.org/2026/10/27/musk-neocloud-consolidation-warning/ Tue, 27 Oct 2026 04:38:00 -0400 https://sevenlights.org/2026/10/27/musk-neocloud-consolidation-warning/ Shares of CoreWeave, Nebius and Iren fell and then rebounded on Monday after Elon Musk posted that debt markets have largely closed to AI cloud companies without independent revenue, leaving more than 200 ’neoclouds’ facing ‘guppy-level death and consolidation.’ https://sevenlights.org/2026/10/27/anthropic-files-historic-ipo/ Tue, 27 Oct 2026 04:37:00 -0400 https://sevenlights.org/2026/10/27/anthropic-files-historic-ipo/ Anthropic filed its public S-1 with the Securities and Exchange Commission on Monday, taking the final step toward an initial public offering on Nasdaq under the ticker ANT that reports have said could value the AI company at $1.5 trillion to $2 trillion. https://sevenlights.org/2026/10/26/audi-georgia-suv-factory/ Mon, 26 Oct 2026 04:46:00 -0400 https://sevenlights.org/2026/10/26/audi-georgia-suv-factory/ Audi will spend $4 billion on its first United States factory, in Macon, Georgia, to build its largest sport-utility vehicles, the chief executive announced alongside President Trump as Volkswagen absorbs heavy American import tariffs and cuts up to 100,000 jobs at home. https://sevenlights.org/2026/10/26/spacex-40-billion-gpu-debt-financing/ Mon, 26 Oct 2026 04:45:00 -0400 https://sevenlights.org/2026/10/26/spacex-40-billion-gpu-debt-financing/ Elon Musk said SpaceX had closed $40 billion in debt financing to buy graphics processing units for artificial-intelligence systems, with deliveries expected in the first half of 2027, and predicted widespread failures among smaller AI cloud companies. https://sevenlights.org/2026/10/24/spacex-tesla-merger-market-reaction/ Sat, 24 Oct 2026 04:40:00 -0400 https://sevenlights.org/2026/10/24/spacex-tesla-merger-market-reaction/ Tesla shares fell 3% and SpaceX dropped 9% as speculation about a merger between Elon Musk’s two companies dominated Wall Street after earnings, with analysts questioning the deal’s logic and experts warning of steep regulatory hurdles. https://sevenlights.org/2026/10/24/starlink-starshield-throttling-ukraine/ Sat, 24 Oct 2026 04:36:00 -0400 https://sevenlights.org/2026/10/24/starlink-starshield-throttling-ukraine/ Ukraine said restrictions on SpaceX’s military-grade Starshield terminals remain in place, with drones above 100mph still losing connectivity, despite President Trump’s statement that SpaceX had reversed the speed caps. https://sevenlights.org/2026/10/24/american-express-ai-restructuring-cuts/ Sat, 24 Oct 2026 04:35:00 -0400 https://sevenlights.org/2026/10/24/american-express-ai-restructuring-cuts/ American Express plans to cut about 5% of its global workforce, taking a $336 million restructuring charge in the third quarter, with its CFO citing the need to become leaner and more agile in the age of artificial intelligence. https://sevenlights.org/2026/10/23/moderna-cancer-vaccine-data-leak/ Fri, 23 Oct 2026 07:00:00 -0400 https://sevenlights.org/2026/10/23/moderna-cancer-vaccine-data-leak/ Moderna shares dropped as much as 25% after partial phase 3 data on its personalised melanoma vaccine, developed with Merck, leaked before its scheduled presentation, even though the results beat Wall Street expectations. https://sevenlights.org/2026/10/23/meta-zuckerberg-california-wealth-tax-debate/ Fri, 23 Oct 2026 06:58:00 -0400 https://sevenlights.org/2026/10/23/meta-zuckerberg-california-wealth-tax-debate/ Meta’s plan to offset a possible $10bn wealth-tax bill for Mark Zuckerberg is sharpening the fight over California’s Proposition 40, a one-time 5% levy on residents worth more than $1bn, with voting set for Nov. 3. https://sevenlights.org/2026/10/23/musk-spacex-tesla-merger-committees/ Fri, 23 Oct 2026 06:55:00 -0400 https://sevenlights.org/2026/10/23/musk-spacex-tesla-merger-committees/ Special committees at Tesla and SpaceX are weighing a merger, Elon Musk said, even as CNBC reported he has committed roughly $366 million to 2026 midterm races and SpaceX has booked $6.78 billion in federal contracts this year. https://sevenlights.org/2026/10/22/blackstone-profit-drops-higher-rates-dealmaking/ Thu, 22 Oct 2026 09:22:00 -0400 https://sevenlights.org/2026/10/22/blackstone-profit-drops-higher-rates-dealmaking/ Blackstone reported a 9.2% drop in third-quarter income as higher interest rates subdued dealmaking, with the money the firm deployed reaching a low for this year, Bloomberg reported. https://sevenlights.org/2026/10/22/healey-fiscal-dilemma-ahead-budget/ Thu, 22 Oct 2026 09:22:00 -0400 https://sevenlights.org/2026/10/22/healey-fiscal-dilemma-ahead-budget/ With the Budget a week away, forecasters at the Office for Budget Responsibility are double-checking their figures as inflation and government borrowing hit their highest levels for a year, City A.M. and the BBC reported. https://sevenlights.org/2026/10/22/meta-stock-split-keeps-zuckerberg-california/ Thu, 22 Oct 2026 09:22:00 -0400 https://sevenlights.org/2026/10/22/meta-stock-split-keeps-zuckerberg-california/ Meta’s board cut CEO Mark Zuckerberg a stock-split deal after he considered leaving California over a proposed billionaire wealth tax that could have forced share sales weakening his voting control of the company. https://sevenlights.org/2026/10/22/us-midterm-elections-2026-wall-street/ Thu, 22 Oct 2026 09:22:00 -0400 https://sevenlights.org/2026/10/22/us-midterm-elections-2026-wall-street/ Wall Street is bracing for stocks to fall if Democrats regain control of both houses of Congress in the US midterm elections less than a month away, Bloomberg reported. https://sevenlights.org/2026/10/22/barclays-cut-5000-jobs-ai/ Thu, 22 Oct 2026 06:19:00 -0400 https://sevenlights.org/2026/10/22/barclays-cut-5000-jobs-ai/ Barclays is cutting around 5,000 posts, about 5% of its global workforce, as it introduces more artificial intelligence into its work processes, the bank said alongside third-quarter results.