Latest business news and market updates
AI firm Anthropic has disclosed 'catastrophic or existential risks to humanity' from advanced AI in its IPO filing, seeking a $2 trillion valuation. Meanwhile, AstraZeneca inks a $2 billion deal to co-develop a promising cancer drug.
As the US reevaluates its global role and potentially weaponizes its currency, smaller, well-governed nations with open markets and strong institutions are poised to see their currencies gain international traction, driven by investor demand for stability and non-political access.
Citigroup CEO Jane Fraser shares Warren Buffett's advice on handling workplace conflict: never respond to emails in anger and criticize by category, not by name. Fraser emphasizes empathy and avoiding toxic behavior, noting its relevance for Gen Z entering the workforce.
Coastal erosion is rapidly shrinking San Clemente's beaches, threatening homes and a vital rail line. Residents are now contemplating a 1% sales tax to fund restoration efforts, highlighting the escalating costs of climate change impacts on coastal communities.
The US economy is showing surprising resilience, boosted by massive AI investments projected to reach $1.3 trillion by 2027. However, soaring Treasury yields, driven by inflation fears and global instability, are increasing the burden of the $40 trillion national debt, raising concerns of a potential debt spiral.
As a powerful nor'easter batters the Northeast, major airlines like American, Delta, JetBlue, and United are waiving change fees for affected flights. Over 87,000 customers have lost power, and hundreds of flights are canceled, prompting travel advisories from Virginia to Maine.
Designer Darian Newman's books, "Cruising: Gay Matchbooks," reveal a lost art of queer social connection. These matchbooks, once common in gay bars, served as discreet advertising and a way to exchange contact information before the digital age.
Meritage Hospitality Group, a major Wendy's franchisee operating 314 locations, has filed for Chapter 11 bankruptcy. The company plans to close up to 30 underperforming restaurants, citing financial difficulties and broader challenges within the Wendy's brand. Five locations in Virginia, Florida, Texas, and Oklahoma have already been identified for closure.
New Cornell research reveals workplace culture dictates how high performers react to training opportunities. In meritocratic settings, overlooking top talent for development can breed significant resentment, while egalitarian environments see less pushback.