[BUSINESS]

HP Inc. reported second-quarter revenue of $14.4 billion, up 9% year-over-year and exceeding analyst expectations of $14 billion. The company also issued a profit forecast for Q3 that tops current estimates.

Rocket and satellite stocks rallied Tuesday following SpaceX's public offering announcement. The filing has triggered broader investor enthusiasm across the aerospace sector.

Massachusetts has officially recognized the App Drivers Union, representing approximately 70,000 Uber and Lyft drivers. This marks the first state-certified rideshare union in the United States.

JPMorgan's cross-asset strategy head Fabio Bassi said the technology sector will withstand higher interest rates, citing strong earnings and AI-driven market dynamics.

Coinbase is laying off 14% of its staff as part of a broader restructuring effort. The company aims to address market volatility and boost efficiency through increased use of AI tools.

Accounting software company Visma has delayed its initial public offering, marking a significant setback for private equity parent Hg. The postponement reflects broader concerns about the software-as-a-service sector's valuation pressures.

Nine-year-old productivity startup ClickUp is laying off hundreds of employees and replacing them with AI agents, signaling a broader shift in how companies approach workforce management.

Prosus has requested the European Union eliminate a mandatory divestment requirement tied to its acquisition of a delivery platform. The condition was imposed as part of antitrust approval for the deal.

Wix plans to lay off approximately 1,000 employees—20% of its workforce—following weak Q1 earnings and a 50% stock decline in 2026.

Oaktree Capital Management marked down its private credit fund following deteriorating software asset valuations. The firm simultaneously disclosed a 26% exposure to artificial intelligence investments.

Steven Mnuchin, former US Treasury Secretary and founder of Liberty Strategic Capital, endorsed the SEC's proposal allowing US companies to report earnings twice yearly instead of quarterly. He shared his views at the Milken Institute Global Conference in Beverly Hills.

JPMorgan Chase's global M&A head Anu Aiyengar said dealmaking remains challenging, but clients continue to target bigger transactions. Speaking at the Milken Conference, Aiyengar cited geopolitical tensions in April as a headwind.

Shopify Inc. stock declined after the company provided a revenue outlook suggesting a deceleration in growth momentum. The forecast raised concerns among investors about the e-commerce platform's near-term trajectory.

Grab Holdings exceeded analyst profit expectations in the first quarter, driven by steady demand for ride-hailing and delivery services across Southeast Asia amid economic and political volatility.

Barry Sternlicht, Chairman and CEO of Starwood Capital Group, outlined the firm's strategy to invest in artificial intelligence and data center infrastructure during remarks at the Milken Institute Global Conference.

Morgan Stanley Co-President Dan Simkowitz highlighted a strong dealmaking environment driven by AI financing opportunities, signaling a significant uptick in merger and acquisition activity ahead.

Janus Henderson CEO Ali Dibadj expressed optimism about the firm's Trian partnership, citing plans to invest in technology and AI capabilities. The deal will also enable the company to expand its ETF offerings globally.

Grab reported first-quarter revenue of $955 million, up 24% year-over-year and above analyst expectations. Adjusted EBITDA reached $154 million, surpassing the $146.3 million estimate.

Umesh Subramanian, who previously served as Chief Technology Officer at Citadel, has joined private investment firm Motive Partners. He will lead the firm's artificial intelligence initiatives.

Volkswagen has displaced Amazon as Rivian's largest shareholder through a $5.8 billion joint venture. The automaker's stake will continue growing under the partnership agreement.

More than two dozen exchange-traded funds tied to prediction markets have been postponed this week as the Securities and Exchange Commission requests additional information from issuers.

SpaceX is positioning itself as an artificial intelligence company ahead of a potential IPO, signaling plans to compete with high-valued tech giants. The strategy reflects a broader shift in how mega-cap companies are attracting investor capital.

GameStop has made an unsolicited offer to acquire eBay for $56 billion, a move that raises questions about financing given the retailer's declining revenue and ongoing store closures.

Spirit Airlines ceased operations Saturday morning, citing fuel costs driven by geopolitical tensions. The ultra-low-cost carrier canceled all flights and directed passengers away from airports.

Hyperscalers raising hundreds of billions for AI infrastructure are forcing Wall Street banks to dramatically increase credit derivatives trading to maintain business relationships with the tech giants.

Iran's unprecedented internet shutdown is creating friction between the country's military and civilian leadership, with the government opposing the measure that costs an estimated $80 million per day in economic damage.

Scott Rubner, head of equity and equity derivatives strategy at Citadel Securities, views the recent tech decline as a buying opportunity. He reports no observable drop in AI spending and demand despite market weakness.

Fintech investing apps may become obsolete as artificial intelligence takes over portfolio management, according to Atomic Invest CEO David Dindi. The shift signals a fundamental change in how consumers will interact with financial services.

Jane Street, a secretive high-frequency trading firm, has leveraged algorithmic trading to dominate Wall Street's digital transformation. The firm's unprecedented success raises questions about the future of market structure.

President Emmanuel Macron announced €1 billion in new funding for quantum computing research, plus €550 million in state support for semiconductor development. The investment underscores France's push to strengthen its technological independence.

Washington is leveraging the Lobito Railway in Congo as a strategic tool to compete with China's dominance over critical metals supply chains in Africa, according to a new book by Nicholas Niarchos.

BlackRock Chief Operating Officer Rob Goldstein discussed the asset management giant's technological evolution and its role in shaping the future of finance on the Odd Lots podcast.

The House Oversight Committee is investigating whether customers of prediction market platforms Kalshi and Polymarket are using non-public information for insider trading. The inquiry follows a series of suspiciously well-timed trades.

China's Wingtech Technology filed suit in a Chinese court against Nexperia, seeking 8 billion yuan ($1.2 billion) in damages and restoration of control over its Dutch chipmaking subsidiary.

Google is expanding its AI-powered Gemini for Home beyond its own devices to other manufacturers, aiming to drive subscription revenue in a market where profitability has proven elusive.

Spotify shares jumped 13% after the streaming giant announced new features and long-term guidance forecasting mid-teens compound annual growth and gross margins between 35%-40% by 2030.

The European Union plans to propose temporarily lifting sanctions on a major Chinese semiconductor supplier imposed in April, responding to automaker warnings of critical supply shortages.

BT's CEO says smartphone costs could rise as tech companies monopolize memory chip supplies for AI datacentres. The telecoms giant anticipates semiconductor shortages will strain the market.

The European Union will propose lifting sanctions on a Chinese semiconductor supplier to prevent supply chain disruptions in the automotive sector. Automakers have warned of production chaos if the ban remains in place.

Samsung Electronics has rejected a mediation proposal that its labor union had accepted, clearing the way for a general work stoppage on May 21. The rejection escalates tensions in ongoing wage and benefits negotiations.

Private equity firm Hg has divested €500 million in assets from its €19 billion software portfolio company Visma. The spinout comes as the long-planned London IPO remains shelved amid broader SaaS market headwinds.

Standard Chartered plans to eliminate nearly 8,000 back-office positions by 2030, representing a 15% reduction in support functions. The cuts target global hubs including Bengaluru as the bank accelerates AI adoption.

Plex is tripling the cost of its lifetime subscription to $750, effective June 30 at 8:01 PM ET. The premium plan price increase marks a significant shift in the streaming service's pricing strategy.

The Take It Down Act became law on May 19, requiring social networks to remove nonconsensual intimate images within 48 hours of reporting or face fines.

Wall Street is flagging rapidly rising debt tied to AI data centers as an emerging credit risk. Investors worry that aggressive financing could trigger the next market crisis.

NextEra Energy's blockbuster acquisition of Dominion Energy signals a shift in utility strategy toward powering data centers. The deal could mean higher electricity bills for residential consumers.

Monzo Bank reported fiscal 2026 pre-tax profit of £87.3M, up 44% year-over-year, driven by revenue growth of 39% to £1.7B. The UK digital bank added 3M users to reach 15M+ and grew deposits 55% to £25.7B.

Solar panel costs are expected to drop 30% over the next decade, solidifying the technology's dominance in global energy markets. However, surging AI data center demand threatens to keep fossil fuels relevant despite the renewable energy surge.

Booking Holdings reported weaker-than-expected second-quarter revenue guidance, citing Middle East conflict impacts on travel demand through June. The downgrade reflects broader concerns among tech companies about regional instability.

Over 100 UK datacentres are planning to burn gas for electricity due to lengthy National Grid connection delays. The planned gas usage exceeds 15 terawatt hours annually, threatening the country's climate commitments.

Shutterstock will pay $35 million to settle FTC allegations that the company made it deliberately difficult for users to cancel subscriptions. The settlement addresses practices that violated federal consumer protection laws.

SpaceX's anticipated initial public offering will give retail investors a direct way to back Elon Musk's ventures beyond Tesla. The move poses a challenge for Tesla shareholders who have been the primary vehicle for betting on Musk's ambitions.

Uber has increased its ownership stake in German food delivery company Delivery Hero to 19.5%, up from 7% in April. The company stated it has no intention to acquire 30% or more of Delivery Hero's voting rights.

Elon Musk said SpaceX plans to pursue an IPO soon, potentially raising $75 billion at a valuation exceeding $2 trillion. Musk made the comments at a tech summit in Israel on Monday.

Jonah Peretti has agreed to sell a majority stake in BuzzFeed to Byron Allen for $120 million. The deal marks a dramatic downturn for the media company, once valued at $1.6 billion.

Asian markets are diverging sharply as investor focus on artificial intelligence opportunities overshadows geopolitical tensions. The split reflects competing narratives about regional stability and tech sector growth.

The European Commission authorized Moderna's combined mRNA vaccine for influenza and COVID-19, making Europe the first region to approve the shot. The approval comes after Moderna withdrew its FDA application in the US last year.

Electricity prices on the PJM Interconnection, the largest US power grid, jumped 76% year-over-year to $136.53/MWh in Q1, driven primarily by surging demand from data centers.

YouTube and Snap have reached settlement agreements in the first major lawsuit to reach trial over social media addiction's impact on schools. The case claimed the platforms disrupted learning and forced districts to spend heavily on mental health services.

Samsung employees are pressing the chipmaker to distribute profits to workers, following SK Hynix's lead in sharing gains from the booming semiconductor market.