Results for: Business

Shares of Occidental Petroleum (OXY) have fallen significantly, impacting Warren Buffett’s substantial investment in the company. The decline in Occidental’s stock price aligns with a drop in crude oil prices, driven by concerns over demand and excess supply. While Buffett may buy more shares, a fund manager suggests he’s unlikely to take over the company and prefers Occidental to initiate a stock buyback program. Buffett’s investment in Occidental, which he began accumulating in early 2022, is now potentially underwater.

Huawei’s latest foldable phone, the Mate XT, may be challenging Apple in the Chinese market with its triple-screen design, but the cost of replacing its screen has sparked controversy. The price of a new screen is almost as much as a brand-new iPhone, prompting questions about the phone’s practicality and affordability.

Over 30,000 Boeing employees are set to strike on Friday after rejecting a proposed labor contract, potentially disrupting aircraft production. The union, seeking higher wages and better benefits, overwhelmingly voted against the agreement, which included a 25% wage increase. The strike comes at a challenging time for Boeing, which is facing production delays and quality control issues.

The stock market saw a positive day on Thursday, with the S&P 500 gaining for the fourth consecutive session. While the overall market sentiment improved, the CNN Money Fear and Greed index remained in the ‘Fear’ zone, indicating investors are still cautious. Major tech companies like Nvidia and Alphabet saw significant gains, and Signet Jewelers reported positive earnings. Despite the positive market performance, economic data showed an increase in jobless claims and a rise in producer prices.

This article highlights key stocks that are likely to attract investor attention on Friday, based on recent earnings reports and financial projections. These include SelectQuote, Adobe, Cheetah Mobile, RH, and Oracle.

The traditional 9-to-5 workday is fading away as employees prioritize work-life balance, flexible hours, and mental health over traditional career markers. Data reveals a shift towards shorter workdays and a preference for hybrid work models, indicating a fundamental change in how we define professional fulfillment.

Worldcoin (WLD) and XRP (XRP) saw significant gains on Thursday, bucking the trend of a sideways market. Worldcoin’s surge followed the launch of OpenAI’s new ‘o1′ model, while XRP benefited from Grayscale Investments’ new XRP Trust.

Meta, Snap, and TikTok have joined forces to combat the spread of suicide and self-harm content on their platforms. The initiative, named ‘Thrive,’ involves sharing information about harmful content to proactively address the issue. This collaborative effort comes amid growing concerns about the impact of social media on young users’ mental health.

This week saw a flurry of announcements from the Indian government, including a significant electric vehicle subsidy scheme, a potential maritime development fund, and social security benefits for gig workers. Meanwhile, global oil prices dipped below $70 a barrel for the first time since December 2021, while India’s tourism industry faces the challenge of overtourism.

Cathie Wood’s Ark Invest made notable trades on Thursday, focusing on tech giants like AMD, Robinhood, and Palantir. The firm’s flagship ARK Innovation ETF bought shares of AMD, reflecting its confidence in the company’s growth in data center chips and gaming GPUs. Meanwhile, Ark Fintech Innovation ETF sold shares of Robinhood following a recent settlement with California’s Department of Justice. Ark Invest also offloaded shares of Palantir, continuing its recent trend of divesting from the company.