Top Business Updates as of February 14, 2024
- Nvidia surpassed Alphabet to become the third-largest U.S. company by market capitalization.
- Jeff Bezos sold more than $2 billion in Amazon stock.
- Instacart laid off 250 employees and lost three C-suite executives.
- Slack released generative AI tools to help users handle message overload.
- McDonald’s CEO sees a McFlation ‘battleground’ with customers revolting over high prices.
- OpenAI Chair Bret Taylor said he’ll recuse himself from his new AI startup, Sierra.
- U.S. office prices could drop 30% as remote- and hybrid-work culture continues.
- McDonald’s reported a 13% increase in global sales in January.
- Tesla’s board remained silent after a court revoked Elon Musk’s $56 billion pay package.
- K2 Space, a startup building monster satellites, raised $50 million.
- Biogen revenue and profit shrank on Aduhelm costs and slumping sales of MS therapies.
- Restaurant Brands earnings beat estimates, fueled by strong Tim Hortons sales.
- Coca-Cola sales beat estimates, helped by higher prices.
- Chrysler revealed a new Halcyon concept car as a direction for future EVs.
- Sony posted record quarterly revenue, smashing through expectations, on PlayStation bump.
- Lyft shares rose 16% in premarket trade, retaining some gains after forecast error.
- The U.S. workforce is still remarkably gendered, with women shut out of the highest-paying jobs.
- McDonald’s CEO sees a McFlation ‘battleground’ with customers revolting over high prices.
- OpenAI Chair Bret Taylor said he’ll recuse himself from his new AI startup, Sierra.
- U.S. gas producers are racing to sell to Asia, and Mexico is key.
These updates reflect a range of business developments, from company mergers and layoffs to new product releases and economic trends.
