Uber's Latest Struggles, and Avis Launches a New Fleet
A lawyer for Uber says an ex-employee was "extorting" the company by alleging it stole trade secrets. But a judge suggests the rationale doesn't justify why the information was withheld in a trial brought by Google's Waymo about the theft of classified information.
And car rental service Avis launches a fully-connected fleet in Kansas City. The company's 5,000 vehicles will be able to communicate with city controllers and possibly improve the experience for tourists.
Plus Alexa is coming to the office! Amazon launching an enterprise version of its popular digital assistant, which will allow employees to schedule meetings and book conference rooms.
And shares of Sears jumped after the legacy retailer reported a smaller loss than last year. But the stock is still only about where it was at the start of the month.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Aurimas Sabulis, CEO of Dextall, unveils how AI‑driven prefabricated façades slash design time by 80%, labor by 87%, and accelerate affordable housing delivery.
Online broker Robinhood Markets will join the S&P 500 index Online broker Robinhood Markets will join the S&P 500 index as its stock rides higher on a cryptocurrency wave.
