Cisco to Cut Over 4,000 Jobs, Redirecting Investments Towards Artificial Intelligence
Company
Earnings Typo Error Sends Lyft Stock on Wild Ride, Questions Raised
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JetBlue Shares Soar After Carl Icahn Discloses Stake
"JetBlue Airways saw its shares surge by over 15% following the revelation that corporate titan Carl Icahn had acquired a nearly 10% stake in the airline, branding it as undervalued. The disclosure of Icahn's significant investment has stirred the market, coming at a crucial juncture for JetBlue as it endeavors to navigate post-pandemic recovery and the fallout from a thwarted merger with Spirit Airlines. -
Diamondback Energy's $26B Acquisition to Create a New Global Oil Giant Valued at over $50B
"Diamondback Energy, an American shale oil and gas producer, has announced a colossal acquisition that could give birth to a new global oil behemoth.
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IBM Shares Plunge More Than 20% After Q2 Earnings and $17.2 Billion Revenue Miss Estimates
International Business Machines shares plunged more than 20% in premarket trading Tuesday after preliminary second-quarter results missed Wall Street expectations, with IBM blaming a sudden shift in customer spending toward servers, storage and memory chips as companies raced to secure scarce hardware. 
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Warren Buffett Cuts Gates Foundation From Multibillion-Dollar Donation as Epstein Review Looms
Warren Buffett has excluded the Gates Foundation from his latest annual donation of Berkshire Hathaway stock, according to CNBC, as scrutiny intensifies over Bill Gates's past relationship with Jeffrey Epstein and a review examines the foundation's ties to the convicted sex offender. 
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Volkswagen Warns of Up to 100,000 Job Cuts as Costs Run 20% Above Rivals
Volkswagen Group is examining workforce reductions of as many as 100,000 jobs globally, twice the level previously outlined, as Chief Executive Oliver Blume pushes Europe's largest auto group to close a 20% cost gap with competitors and simplify a manufacturing network strained by weaker sales, the electric-vehicle transition and growing competition from Chinese automakers. 
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Micron Expands U.S. Investment to $250 Billion Through 2035 as AI Chip Demand Sends Shares Higher
Micron Technology deepened its commitment to U.S. semiconductor manufacturing on Thursday, unveiling an expanded domestic investment strategy worth approximately $250 billion through 2035 and announcing a series of supply-chain initiatives aimed at supporting the rapidly growing artificial intelligence market. Investors welcomed the move, sending the memory-chip maker's shares up about 7% after the announcement. 
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Leaked Zuckerberg Audio Raises Questions Over Meta's $145 Billion AI Spending After 8,000 Job Cuts
Mark Zuckerberg told Meta employees during a closed-door town hall that the company's artificial intelligence initiatives have not progressed as quickly as leadership expected, according to leaked audio that has intensified scrutiny of Meta's multibillion-dollar AI strategy following thousands of layoffs and an unprecedented increase in capital spending. 
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Samsung Posts 1,800% Profit Surge, but Shares Drop 7% as AI Spending Concerns Weigh on Outlook
Samsung Electronics reported one of the strongest quarterly performances in its history, posting an operating profit that surged more than 1,800% from a year earlier as demand for artificial intelligence chips fueled record revenue. Yet the blockbuster earnings failed to reassure investors, with the company's shares falling nearly 7% as markets shifted their attention from current profits to questions about whether the AI investment boom can continue. 
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Trump Claims Credit for Walmart Price Cuts, but Retailer's Summer Discounts Began Before His Announcement
President Donald Trump on Monday credited his administration with Walmart's latest wave of price reductions, saying the nation's largest retailer lowered prices "at my Administration's request" to celebrate America's 250th anniversary. But the timeline of Walmart's annual summer promotion suggests the discounts had already been rolled out before the president made the claim, renewing debate over how much influence the White House has over private-sector pricing. 
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TikTok Settles Teen Mental Health Lawsuit Ahead of Trial as Thousands of Social Media Cases Continue
TikTok and its parent company, ByteDance, have reached a confidential settlement with a Florida teenager who alleged the platform's recommendation algorithm and design features contributed to compulsive social media use and serious mental health problems, removing the company from a closely watched California trial that had been scheduled to begin later this month. 
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Elon Musk's Federal Workforce Overhaul Cost Taxpayers Up to $15.1 Billion, Watchdog Report Says
The Trump administration's effort to dramatically reduce the federal workforce through a program championed by Elon Musk may have cost taxpayers between $11.1 billion and $15.1 billion while producing far less immediate savings than originally promised, according to a new analysis released by government watchdog Public Citizen. 
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DOJ Drops Criminal Case Against Abbott Despite Investigation Into Baby Formula Linked to Infant Deaths
The U.S. Department of Justice has abandoned its criminal investigation into Abbott Laboratories over the company's handling of its Michigan infant formula plant, opting instead to pursue civil enforcement despite a multi-year federal probe into conditions linked to a deadly 2022 contamination outbreak and nationwide formula shortage. 
