Elon Musk's X platform wins a lawsuit against the Global Alliance for Responsible Media (GARM), leading to GARM's dissolution as financial expenses and public backlash pile up.
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California Passes New Laws Targeting Shoplifting and Organized Theft Rings
California Governor Gavin Newsom has signed 10 new laws to combat organized retail crime, focusing on shoplifting, vehicle theft, and the resale of stolen goods online, with increased penalties for middlemen and stricter regulations for online sellers.
Resorts World Accused of Ignoring Illegal Gambling Activities by Nevada Regulators
The Nevada Gaming Control Board has accused Resorts World Las Vegas of enabling illegal gambling and failing to address violations related to bookmaking and criminal ties.
Walmart Reports 4.8% Revenue Growth, Driven by Rising Consumer Spending
Walmart's Q2 revenue hit $169.34 billion, exceeding expectations, with a 4.8% increase from last year and a 9.8% rise in adjusted earnings per share.
Taiwan's Foxconn Sees $1.09 Billion in Q2 Following Booming AI Server
Foxconn's second-quarter profit rose 6%, driven by strong demand for AI servers and next-generation computing solutions.
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Singapore is seeing a surge in Chinese electric vehicle brands like Zeekr and Xpeng as EV adoption ramps up by increasing charging ports and incentives.
Warner Bros Discovery’s shares dropped 12% in premarket trading after announcing a $9.1 billion write-down and a $10 billion net loss, reflecting their ongoing struggles to keep up with other giant media.
By January 2025, the EU's Digital Operational Resilience Act (DORA) will enforce stringent IT security standards for banks and their technology suppliers to boost cyber resilience and manage third-party risks.
Apple may charge up to $20 for its upcoming AI features from "Apple Intelligence," to boost its services revenue and deepen user engagement as the AI sector becomes more expensive.
Despite ongoing losses of over $1 billion, Rivian Automotive exceeded Wall Street's revenue and earnings estimates for Q2 2024 through cost-cutting measures.
Recent Highway Loss Data Institute research shows that Hyundai and Kia's software upgrades have cut vehicle theft rates by 64% since February 2023.
Disney exceeded expectations in Q3 report, achieving its first profit from combined streaming services and reporting earnings per share of $1.39, despite challenges in its parks and experiences segment.
Yum Brands fell short of revenue expectations in the second quarter as Pizza Hut and KFC struggled with declining same-store sales, while Taco Bell saw a 5% increase.
Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
