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Fitch Downgrades U.S. Credit Rating
The agency said that the downgrade reflects an “erosion of governance.” The rating on the U.S. now stands at AA+, or one notch below the
Yellow's Shutdown Could Cost Taxpayers Money
Whether the federal government recovers the money it lent Yellow at the height of the pandemic would likely depend on how much Yellow raises by
Venture Capitalist Seeks to Spur Drug Development for Rare Autoimmune Disease
Venture capitalist Luke Evnin has financed several successful biotechnology startups that develop treatments for cancer. Now he is encouraging drugmakers to tackle another disease: a rare autoimmune condition that
Companies Weigh Growing Power of Cloud Providers Amid AI Boom
A wave of partnerships between AI model makers and cloud providers is leading tech chiefs to assess the benefits of convenience versus becoming too reliant
Pfizer Misses Revenue Expectations, Bets on Drug Launches to Ease Shortfall
The company is rolling out 19 products or new uses within 18 months, CEO Albert Bourla said. Source link
Americans' Thirst for Diageo's High-End Spirits Slows
The owner of Johnnie Walker scotch said sales of its $50-a-bottle liquor are growing more slowly as pandemic-era spending patterns fade. Source link
Caterpillar's Sales Surge as Construction Booms
Revenue was lifted by higher sales across all three of its major segments. Source link
Uber Delivers First-Ever Operating Profit
The company’s ride-hailing and delivery businesses grew as efforts to stem losses bore fruit. Source link
Meta Offers to Seek Consent for Highly Personalized Ads in Europe
Under pressure from privacy regulators, Meta Platforms has proposed asking all users in Europe to decide whether they would like to see ads targeted based
BP Profit Declines More Steeply Than Peers'
Second-quarter earnings fell almost 70% from a year-ago bonanza. The London-based oil major boosted its dividend and continued to buy back shares. Source link