Volkswagen's annual operating profit plunges 15% to $352.8 billion in 2024 due to surging costs and restructuring expenses, but the automaker braces for potential U.S. tariffs while operating a major factory in Tennessee and projecting up to 5% revenue growth in 2025.
A judge expressed concerns about potential harm from OpenAI's transition to a for-profit company using public funds, denying an injunction but offering an expedited trial in 2025 to resolve disputes over the restructuring targeted by Elon Musk's lawsuit.
In a legal battle against OpenAI, a judge rejects Elon Musk's bid to stop the AI research company's transition to a for-profit model, allowing the transformation to proceed while other aspects of Musk's lawsuit move forward.
Mounting fears of stagflation, driven by Trump's tariffs and softening economic indicators, are fueling market volatility and raising concerns about high inflation coupled with sluggish growth, though a severe crisis has not yet materialized.
President Trump's imposition of steep tariffs on imports from key trade partners sparked retaliatory measures and ignited a trade war, causing market turmoil and major stock losses amid escalating tensions.
In retaliation against the U.S.'s unjustified tariffs on Canadian exports, Canada strongly condemns the move and imposes 25% tariffs on $155 billion worth of American goods, with $30 billion effective immediately and the remaining $125 billion in 21 days, until the U.S. trade action is withdrawn.
Amazon-backed AI startup Anthropic skyrocketed to a staggering $61.5 billion valuation after securing a $3.5 billion mega funding round led by Lightspeed Venture Partners, fueling its ambitious plans to expand compute power, advance AI research, and accelerate global expansion.
In an escalating trade war, President Trump imposed steep 25% tariffs on imports from key allies Canada and Mexico, while also doubling tariffs on Chinese imports to 20%, sending stock markets plunging amid fears of a global trade conflict.
Stock markets plunged on Friday, with the S&P 500 falling 1.76% and the Dow Jones Industrial Average dropping 649.67 points, as President Trump confirmed that 25% tariffs on imports from Mexico and Canada will take effect on Tuesday, dashing hopes of a last-minute deal to avert the full tariffs.
The Fear & Greed Index, which measures investor sentiment based on factors like market momentum and volatility, currently stands at 61 out of 100, signaling that greed is fueling the US stock market's movements and potentially overvaluing stocks.