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SpaceX shares held steady in premarket trading on Thursday, after the stock’s recent rally showed signs of cooling following a record-breaking IPO last week.Elon Musk’s space and AI company saw its stock surge more than 40% after its historic debut last week, which offered shares at a set price of $135. Investor bullishness showed signs of waning on Wednesday, however, as shares sank 5%. The stock was last 0.3% higher in premarket trading.Stock Chart IconStock chart iconSpaceX shares over the past five days.SpaceX immediately became one of the world’s most valuable companies after listing, with its market cap surpassing Amazon…
The Barack and Michelle Obama statue outside The Obama Presidential Center in the Hyde Park neighborhood in Chicago, Illinois, May 29, 2026.Joshua Lott | The Washington Post | Getty ImagesThe opening of the Obama Presidential Center in Chicago on Thursday will be a celebration of the legacy of former President Barack Obama and his accomplishments. The star-studded event that will feature an address from Obama and performances by Stevie Wonder, Bruce Springsteen and Jennifer Hudson is also expected to be the biggest gathering of donors, fundraisers and business leaders aligned with the Democratic Party ahead of the 2026 midterm elections.”It’s…
POWER POINTWhat I’m hearing from energy insidersWhile the SpaceX IPO has rightly captured investors’ attention, it’s been another story that has actually moved the market: the war in Iran. We have a deal. Or at least, a deal to make a deal. That deal to make a deal is dealing oil lower. Unless there is no deal and “bombs start dropping” again. I’ll get to that.Wordplay aside, the last few days have been remarkable for oil, energy, and markets. The U.S. and Iran reportedly have a framework for a longer-term peace deal. While much still needs to be worked out, the…
The Swiss National Bank (SNB) in Bern, Switzerland, on Thursday, Dec. 12, 2024.Stefan Wermuth | Bloomberg | Getty ImagesThe Swiss National Bank said on Thursday it is ready to intervene in foreign exchange markets if a rebound in demand for the safe-haven franc drives the currency higher. It came as the central bank left its main policy rate unchanged at 0%, in a move widely expected by markets, keeping borrowing costs well below those seen in other major economies. In a statement, Martin Schlegel, chairman of the SNB’s Governing Board, said the outbreak of the Middle East conflict on Feb.…
Abercrombie & Fitch’s Hollister is branching out of its apparel roots and partnering with Target to start selling home and dorm decor for the first time as both brands look to new categories to drive growth. The collaboration, dubbed The Hollister Collection at Target, will launch online, in most Target stores and select Hollister locations on June 28 and will feature almost 60 items across men’s and women’s apparel and bedding. Hollister’s tie-up with Target comes as both companies contend with declines in discretionary spending and waning consumer confidence, which have forced retailers to get creative to entice shoppers to spend. Hollister, Abercrombie’s…
June 18 (Reuters) – Consultancy firm said on Thursday it would take a majority stake in industrial cybersecurity firm Dragos and fully acquire asset intelligence company runZero and device security specialist NetRise in a combined deal valued at $4.18 billion. Shares of Accenture fell over 11% in premarket trading as the company cut the top end of its annual revenue growth forecast range, signaling businesses wary of an uncertain economy are curtailing spending on discretionary IT consulting projects. The acquisitions will expand Accenture’s cybersecurity business into software for protecting industrial operations and critical infrastructure, including power grids, pipelines, factories and…
Elon Musk’s xAI is a “failure” that will be unable to compete on the frontier of artificial intelligence, Yann LeCun, founder of AMI Labs, told CNBC, as he laid out his view on what could cause a “big bubble explosion” in the industry.LeCun’s comments renew a long-running spat with Musk and cast doubt over valuations of some of the world’s biggest AI companies.LeCun, who was previously Meta’s chief AI scientist, has clashed with Musk over the past few years on topics ranging from AI to what he described as the Tesla CEO’s “conspiracy theories” on social media. Musk for his…
The Bank last cut interest rates in December but upheaval in the Middle East has stalled any further reductions. Source link
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Erdem x Gay’s The Word Derek Jarman T-shirt Actor Russell Tovey wearing the limited edition Bliss T-shirt © Erdem MoralıoğluPrice: £120 Click: erdem.com As Derek Jarman began to lose his eyesight to Aids, the British artist directed his film Blue, 79 minutes of a single, monochrome shot capturing the way he saw the world. It has informed Erdem’s T-shirt design for Pride month – which uses the word “Bliss”, the project’s original title – made in collaboration with Gay’s The Word, the UK’s oldest surviving LGBTQ+…
The Amazon Web Services IAD10 data center in Sterling, Virginia, May 31, 2026.Lexi Critchett | Bloomberg | Getty ImagesA huge slice of global data center capacity faces elevated risk to acute climate hazards, a study released Thursday shows. Those acute hazards, which hang over 79% of capacity, include severe climate-induced events such as flooding, extreme winds and wildfires that can disrupt operations, increase downtime and drive insurance and repair costs, according to the report by First Street, a climate risk analytics firm.First Street looked at 97 global data center markets in the report. “Most underwriting for real assets still uses…