Tesla Gets an Endorsement From UPS, and Vine founders in Hot Water
Tesla gets its biggest order yet for its yet-unveiled semi-trucks, with UPS pre-ordering 125 of the all-electric big-rigs. The deal brings the total number of orders to 410, according to Reuters, with Wal-Mart, Pepsi, and J.B. Hunt also on board.
And Vine's founders have trouble with their new project, as allegations of "creepy" behavior towards women have made it hard to raise additional funding. The two-month-old HQ Trivia app has gained a huge following since its launch. It was hoping to get a valuation of $100 million.
Plus the U.S. officially places the blame on this year's WannaCry cyberattack on North Korea, and Uber's Indian rival Ola buys FoodPanda's delivery service in the country.
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
