Foundation Robotics Labs, a startup aiming to revolutionize the robotics industry, has come under scrutiny for making bold claims in its investor pitch. The company allegedly asserted close ties and an impending investment from General Motors (GM), along with commitments from other notable investors like Tribe Capital. The fundraising document mentioned that GM had agreed
Oracle Chairman Larry Ellison’s net worth soared by nearly $19 billion as the software giant announced double-digit revenue growth for the fiscal year. This news caused Oracle’s stock to experience its most significant rally since 2021, reaching a record high of $140.38 per share on Wednesday. Despite stepping down as CEO a decade ago, Ellison
The Federal Reserve recently decided to keep its key interest rate untouched and hinted that a single cut can be expected before the end of the year. While many were hoping for a more lenient central bank approach, the policymakers steered away from the possibility of two rate reductions, as previously indicated in March. The
The sell-off in GameStop shares on Wednesday was accompanied by a spike in trading volume in the call options that meme stock leader “Roaring Kitty” owns. This intensified sell-off saw GameStop calls with a strike price of $20 and an expiration date of June 21 trading a whopping 93,266 contracts, more than nine times its
Last week, mortgage rates experienced a significant drop, leading to a surge in total mortgage applications. According to the Mortgage Bankers Association, the total volume of mortgage applications increased by nearly 16% compared to the previous week. However, this trend was short-lived as rates quickly rebounded following a stronger-than-expected monthly employment report. The average contract
The federal government recently announced a groundbreaking initiative by issuing over $1 billion in upfront tax credits to incentivize the purchase of electric vehicles (EVs) in an effort to accelerate the transition to cleaner transportation options. This move marks a significant shift in how EV tax incentives are administered, allowing buyers to receive immediate savings
The news of Joey “Jaws” Chestnut parting ways with Major League Eating (MLE) ahead of the Nathan’s Famous Fourth of July hot dog eating contest has shocked many fans. The reason for this separation stems from Chestnut’s decision to represent a rival brand that sells plant-based hot dogs, much to the disappointment of the organization.
Despite falling short of Wall Street expectations in terms of earnings per share and revenue, Oracle managed to increase its revenue by 3% year over year during the fourth quarter. The company reported earnings per share of $1.63 adjusted compared to the expected $1.65, and revenue of $14.29 billion against the expected $14.55 billion. Oracle’s
In the realm of American politics, President Joe Biden and former President Donald Trump have made promises to extend expiring tax breaks for the majority of Americans. However, the real challenge lies in finding ways to finance these extensions as the expiration date for the tax breaks approaches. The Tax Cuts and Jobs Act of
Apple device users will soon be able to tap into buy now, pay later loans from Affirm for purchases, the companies said Tuesday. Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a filing. Apple confirmed the news in