Sophia Patel — Business & Finance Editor SpaceX reported $7.8bn in revenue, a 92% increase from a year ago, but its $18.3bn in spending and $2bn net loss raised concerns about sustainability, despite Elon Musk’s optimism about Starlink and AI ventures. Elon Musk’s SpaceX revealed its first-ever quarterly financial results, showing a dramatic surge in revenue paired with even steeper spending. The … Read more
SpaceX reported a 92% revenue increase to $7.8bn but faced a $2bn net loss amid $18.3bn in spending, according to a BBC report. A Revenue Surge Paired With Spending SpaceX’s first-ever quarterly earnings report revealed a stark contrast between revenue growth and operational costs. Revenue rose 92% year-over-year to $7.8bn, driven largely by Starlink’s $1.6bn … Read more
FIFA president Gianni Infantino faces mounting pressure after a leaked internal email from secretary general Mattias Grafström condemned his controversial World Cup share-sale plan, while UEFA threatens legal action over the failed initiative. FIFA president Gianni Infantino is under intense scrutiny following a dramatic shift in support from key stakeholders, as internal dissent and external … Read more
The US stock market hit a record high on August 5, 2026, fueled by optimism over potential progress in reopening the Strait of Hormuz and strong corporate earnings, while oil prices fell amid geopolitical tensions. The US stock market surged to a record high on August 5, 2026, as investors bet on a potential resolution … Read more
On August 4, 2026, Federal Reserve Bank of Kansas City President Jeff Schmid urged tighter monetary policy to rein in inflation, stating that current measures are insufficient to meet the Fed’s 2% target. His remarks, delivered ahead of a farming event, mark a hawkish shift amid persistent price pressures and rising energy costs. Jeff Schmid, … Read more
AI stocks drove Wall Street higher on Tuesday, with the Nasdaq composite rising 1.3% and the S&P 500 climbing 0.9%. Gains in chipmakers like Micron Technology and Nvidia offset pressures from rising Brent crude oil prices, which topped $91 per barrel amid ongoing U.S.-Iran attacks, according to AP News. The market is currently locked in … Read more
State-owned Oil and Natural Gas Corporation (ONGC) reported a standalone net profit of Rs 17,033.81 crore for the June quarter ending June 30, 2026. The surge, which more than doubled year-over-year, was driven by a 50% spike in crude oil prices following conflict in West Asia and higher gas realisations. The numbers coming out of … Read more
Maruti Suzuki claimed six of the top ten spots in India’s vehicle sales during the first half of 2026, with the Dzire leading the market at 126,204 units. The mid-year figures, alongside July data, highlight strong domestic demand and record months for models like the Tata Punch and Maruti Ertiga. Maruti Suzuki Dzire Takes the … Read more
Paramount chief executive David Ellison broke his silence on Tuesday regarding his stalled $110 billion mega-merger with Warner Bros. Discovery. In a published essay, Ellison defended the transaction against antitrust lawsuits brought by state attorneys general, arguing that opposition to the massive deal is driven by concerns over political control of CNN. The high-stakes battle … Read more
US weekly jobless claims fell to a seasonally adjusted 208,000 for the week ended July 11, 2026, according to the Labor Department. The drop points to ongoing labor market stability following a spring surge, while June job openings held steady at 7.4m according to the Bureau of Labor Statistics. Initial claims for state unemployment benefits … Read more