Business

A collection of 1072 posts

Business

Brad Karp steps down as chairman of Paul Weiss; Scott Barshay named

Businessinsider reports Brad Karp stepped down as chairman of Paul Weiss on Wednesday amid scrutiny over his ties to the late sex offender Jeffrey Epstein. Scott Barshay was named the new chairman of the global firm, which has more than 1,000 attorneys, "effective immediately," the firm said

Business

Brad Karp Resigns as Paul Weiss Chairman Amid Epstein Fallout

Nytimes reports that Brad Karp, the longtime chairman of Paul Weiss, suddenly resigned on Wednesday evening after a series of embarrassing emails between him and Jeffrey Epstein became public. The law firm’s statement announcing Mr. Karp’s resignation gave no explanation, but included a quote from him saying, '

Business

Amazon earnings preview: Wall Street eyes AI, AWS growth

Coverage from Businessinsider says Amazon's Q4 earnings report, due Thursday after the close, has Wall Street looking for bullish updates on AI and Amazon Web Services (AWS). Analysts expect earnings per share of $1.96, revenue between $211.2 billion and $211.56 billion, and earnings before interest

Business

Google Q4 2025: capex surge, Gemini growth, subscriptions uptick

In a report from Businessinsider, Alphabet reported fourth-quarter earnings that exceeded Wall Street expectations and said it expects to roughly double capital expenditures in 2026 to $175 billion–$185 billion, a guidance that prompted a dip in the stock. Google announced annual revenue topped $400 billion for the first time,

Business

Steam refunds some players for Ashes of Creation after leadership resignations

Gamesradar reports Steam is giving some players refunds for Ashes of Creation after the abrupt resignation of top leadership and mass layoffs. Ashes of Creation was the most successful MMO Kickstarter campaign ever, launching in 2017 and raising almost $3.3 million. The game entered Steam Early Access in December,

Business

How 20 channel chiefs describe their channel philosophy

As part of the CRN 2026 Channel Chiefs project, channel executives were asked to describe their personal channel philosophy, revealing a shift from seeing the channel as a sales extension to viewing it as a strategic ecosystem that delivers full life‑cycle services, expertise and differentiated customer outcomes. Common themes

Business

FAA inspector sues United over alleged lifetime travel ban

An FAA safety inspector, Paul Asmus, filed a civil complaint against United Airlines on Jan. 30 in San Jose, alleging the carrier removed him from United flight 1684 on May 12, 2022 and imposed a lifetime travel ban after he reported safety concerns. Asmus, who was off duty, says he

Business

Analysts: AI-fueled tech sell-off is overblown, driven by fear not fundamentals

Bank of America and William Blair analysts say recent losses in tech, led by software, are overblown as the Nasdaq Composite fell about 2% on Wednesday amid AI disruption worries and some poorly received earnings. The sell-off accelerated after Anthropic introduced a plugin for its Claude Cowork AI agent that

Business

How Wall Street bosses—huddled in Palm Beach—reacted to the AI selloff

At the Wall Street Journal's Invest Live event in Palm Beach, executives grappled with a market sell-off after Anthropic announced its new "Claude Cowork" legal plugins, a move that unnerved investors and dragged down tech stocks, with Thomson Reuters dipping about 20% by mid-afternoon. Speakers offered

Business

F.T.C. Settles With Express Scripts Over High Insulin Prices

The Federal Trade Commission said it had reached a settlement with Cigna’s Express Scripts over its role in driving up insulin prices. Express Scripts will not pay a fine or admit wrongdoing but agreed to a range of changes to its business model. Under the settlement, the company agreed

Business

Nintendo: Switch 2 sales strong but lacks a breakout hit

Nintendo reported strong early sales for the Switch 2, selling 7 million consoles during the 2025 holiday period and 17 million in its first six months. The original Switch sold an additional 1.36 million units and is expected to sell another 750,000 by the end of the current

Business

EEOC Investigates Nike for Discrimination Against White Workers

The Equal Employment Opportunity Commission said it had opened an investigation into Nike for policies that it said discriminated against white workers and job applicants, investigating systemic allegations of D.E.I.-related intentional race discrimination. The commission, born of the Civil Rights Act to enforce laws against employment discrimination,

Business

Analyst: 'Vibes pricing' explains indie and AAA game price shifts

Peak co-developer Aggro Crab's Nick Kaman suggested "eight bucks is still five bucks" on indie pricing, and Circana analyst Mat Piscatella says the idea reflects a wider reality amid large price fluctuations in games. Peak, an $8 game that wanted to present as a $5 game,

Business

The brutal wipeout in software stocks is getting even worse, in 3 charts

Software stocks slid further this week after new tools from Anthropic sparked a sharp sell-off, with legal software names hit particularly hard and the broader sector weakening over two sessions. The iShares Expanded Tech-Software Sector ETF fell again on Wednesday as selling pressure continued after Tuesday's rout. The

Business

Chevron Signs Deal to Explore Offshore Oil and Gas in Syria

Chevron signed an initial agreement with Syria’s state-owned oil company to explore the development of the country’s first offshore oil and gas field, Syrian state media reported. The deal is part of a government push to reinvigorate an energy sector weakened by years of conflict. The memorandum of

Business

Ray Dalio says gold is the 'safest money' even after historic crash

Ray Dalio defended gold as the "safest money" even after its recent sharp drop, saying the metal's haven status does not "change by the day." He made the comments while speaking at the World Governments Summit in Dubai. Dalio pointed to gold's

Business

Brad Karp Says He Regrets Interactions with Epstein

Brad Karp, chairman of Paul Weiss, said he regretted social interactions with Jeffrey Epstein after newly released emails showed he socialized with the financier and at one point asked him to help his son find work on a Woody Allen film. Mr. Karp became acquainted with Mr. Epstein largely through

Business

Accelerating AI Boom Drives Supermicro to Record Q2 Revenue Growth

Supermicro reported record fiscal second quarter revenue of $12.68 billion, up about 123 percent year over year, as demand for AI and IT infrastructure accelerated, the company said. The quarter included GAAP net income of $400.6 million and non‑GAAP net income of $486.5 million. Leadership highlighted

Business

In Aspen, a Wintry Fashion Fantasia for Those Who Can Afford It

Moncler staged a weekend of staged mountain glamour in Aspen, bringing celebrities and “Very Important Clients” to events at the T‑Lazy‑7 Ranch and other venues; guests included Orlando Bloom and other stars who jetted in for the spectacle. On the culminating night a fleet of 160 sports utility

Business

Long line forms for Kalshi's free grocery event in New York

Hundreds of people queued for Kalshi’s free grocery promotion at Westside Market in New York, with some waiting almost two hours in freezing temperatures for a $50 credit to spend at the store. The promotion was positioned as a grab at groceries amid high prices and was described as

Business

Lego and Netflix to release KPop Demon Hunters sets in 2026

The Lego Group and Netflix are collaborating to produce KPop Demon Hunters building sets. Lego's first product is set to be revealed later this spring, with pre-orders opening shortly after, and additional sets are planned for release in 2027. Specific details about characters, scale, and play features remain

Business

Netflix CEO Suggests 'Superman' Underperformed at the Box Office

Netflix CEO Ted Sarandos told a Senate hearing that the streamer generally adheres to a 45-day theatrical window but that the timing can shift depending on box office performance, saying some films that underperform have shorter windows and citing Superman as an example while noting Sinners had a longer window.

Business

Uber: Eats and freight could improve robotaxi economics

Uber CEO Dara Khosrowshahi said deliveries could be key to making robotaxis work economically, suggesting Uber Eats and the company's freight business could provide work for self-driving vehicles during periods of low passenger demand. Uber is working with multiple companies, including Waymo, to make self-driving cars available through

Business

Numbers and Questions Behind Musk’s SpaceX-xAI Merger

SpaceX has acquired xAI in an all-stock transaction that creates a privately valued, combined enterprise worth about $1.25 trillion, with Elon Musk controlling both companies. The stock is currently private, and SpaceX plans to go public later this year. The deal valued SpaceX at roughly $1 trillion and xAI

Business

WoW lead says Blizzard has 'bigger vision' beyond MMORPG

World of Warcraft turns 22 this year; despite spin-offs like Hearthstone and a movie adaptation, vice president and executive producer Holly Longdale says the Warcraft IP has "been underutilized." Speaking to The Game Business, Longdale said Blizzard has "a bigger vision" beyond simply being an MMORPG