Microsoft gave up its seat on OpenAI’s board amid regulatory...
Microsoft gave up its seat on OpenAI’s board amid regulatory scrutiny. According to the Wall Street Journal, Microsoft abandoned its post as an observer on the board after realizing it was bothering antitrust officials who were looking into the relationship between the two companies. Apple, which was expected to take a similar seat on the OpenAI board, will reportedly no longer do so. Regulators in both the US and UK have been concerned with Big Tech’s investments in artificial intelligence. Microsoft has given $13 billion to OpenAI in exchange for about 49% of the startup’s for-profit operations.
The Israeli military told Palestinians to evacuate Gaza City and head south as it increases military operations in the area.
BMW recalled nearly 400,000 vehicles in the US over an airbag issue.
Chinese citizens are outraged by reports that state-owned food companies use the same tankers to transport fuel and edible cooking oil.
Rep. Nancy Pelosi, the former speaker of the House, declined to say President Biden should run for reelection in an interview with MSNBC, becoming the highest-profile Democrat to question if Biden should seek a second term seemingly.
Bill Hwang, the founder of Archegos Capital Management, was found guilty of fraud and other charges by a Manhattan jury after a two-month trial.
The FTC reportedly plans to sue three pharmacy-benefit managers for how they negotiate drug prices, a day after delivering a scathing report on the practice.
Target will stop accepting customer personal checks starting on July 15, citing “extremely low volumes” of the old-school payment method.
Benchmark U.S. crude oil for August delivery rose 69 cents to $82.10 per barrel Wednesday. Brent crude for September delivery rose 42 cents to $85.08 per barrel.
Wholesale gasoline for August delivery fell 3 cents to $2.50 a gallon. August heating oil was unchanged at $2.52 a gallon. August natural gas fell 1 cent to $2.33 per 1,000 cubic feet.
S&P 500 closes above 5,600 for first time while Dow logs best day since May
U.S. stocks soared to new milestones on Wednesday, with the S&P 500...
U.S. stocks soared to new milestones on Wednesday, with the S&P 500 finishing above 5,600 for the first time and the Nasdaq Composite securing its 27th record close of 2024.
Based on preliminary data, the Dow Jones Industrial Average finished higher by 429.39 points, or 1.1%, at 39,721.36. This was the best day for the Dow Jones since May 31.
The S&P 500 closed up by 56.93 points, or 1%, at 5,633.91 for its 37th record close of 2024. It has closed with six consecutive records in as many sessions, the longest such streak since November 2021.
The Nasdaq Composite ended up by 218.16 points, or 1.2%, at 18,647.45.
The S&P 500 and Nasdaq have each closed higher for seven straight sessions. That's the longest stretch for the S&P 500 since November 8 of last year and matches the longest stretch for the Nasdaq since June 18.
Microsoft to buy 500K DAC carbon credits from Occidental
Microsoft has agreed to acquire 500,000 carbon credits from Occidental...
Microsoft has agreed to acquire 500,000 carbon credits from Occidental Petroleum over six years in an undisclosed deal. The credits will come from Occidental's Stratos direct air capture project in Texas and help Microsoft curb its emissions amid surging demand for AI and data centers. The tech giant has set a goal to become carbon-negative by 2030.
On Tuesday, the Department of Energy (DoE) reported that crude...
On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 500,000 barrels as of July 5. Inventories are now at 373.1 million, up from 372.6 million barrels the previous week. That is the highest level since December 2022, but still short of the 656 million barrels in inventory in June 2020.
