Chip stocks pulled the Nasdaq and the S&P 500 lower on Thursday as they continued to lead broader market moves despite generally upbeat U.S. economic data and a strong start to second-quarter earnings season. Among the 11 major sectors in the S&P 500, technology was one of the biggest percentage losers, with semiconductor stocks weighing…
Crypto.com said Thursday that it has secured a strategic $400 million investment from Citadel Securities, valuing the company at $20 billion in what is the first institutional funding round in its decade-long history. The investment comes as the crypto industry undergoes rapid institutionalisation, with digital assets increasingly serving as fundamental infrastructure for capital markets. The…
SpaceX called off its first Starship launch since its massive IPO in June. On Thursday, SpaceX backed away from a launch attempt of its upgraded Starship rocket after an engine issue triggered an automatic abort before liftoff at the company’s Starbase facility in South Texas. CEO Elon Musk said in a post on X that…
One 97 Communications Ltd, the parent entity that operates digital payments pioneer Paytm is set to reward shareholders with the first bonus issue in its 25-year history, capping a landmark year in which the fintech major posted its maiden full-year profit and gained market share across its payments and financial services businesses. The…
TSMC’s first plant in Phoenix Taiwan Semiconductor Manufacturing Co. is investing an additional $100B in manufacturing in the U.S., bringing its total investment commitment to $265B. The additional investment will mean four more advanced semiconductor manufacturing facilities, bringing the total to 12 leading-edge semiconductor and packaging facilities, according to a release from the Department of Commerce on Thursday. “This…
In a recent study, experts scrutinized an array of chips, salad dressings, and mayonnaises. Most of them couldn’t pass a critical benchmark.
A game of catch-me-if-you-can between Jed Walentas and Tom Brady’s former manager over a hurricane-damaged Bahamas mansion has come to an abrupt end. The Two Trees Management CEO had been trying to collect a $300,000 arbitration award from Will McDonough since last July, but repeatedly failed to locate him for formal legal service, court filings…
Wall Street banks and trading firms will soon receive President Donald Trump’s musings within milliseconds, as the parent company of Truth Social announced a new service on Thursday that’s targeted toward paying institutional clients. Trump Media & Technology Group will launch a licensed data feed, which it’s calling Truth API, to deliver “the fastest access”…
PGIM has hired David Blum as managing director overseeing U.S. high-yield real estate credit investments, strengthening the firm’s U.S. real estate debt platform as investor interest in higher-yielding strategies continues to gain momentum. In the newly created role, Blum will focus on high-yield real estate credit, supporting the firm’s ability to deliver flexible, value-driven debt capital solutions…
Storefront, a new e-commerce platform and live shopping marketplace for brands and independent sellers, has signed a 4,700-square-foot lease at Mactaggart Family & Partners’ office building at 555 West 25th Street, Commercial Observer has learned. The length of the lease is for two years and the asking rent was in the high $30s per square…