New York Attorney General Letitia James holds a press conference following a ruling against former U.S. President Donald Trump ordering him to pay $354.9 million and barring him from doing business in New York State for three years, in the Manhattan borough of New York City on Feb. 16, 2024.Five top executives of publicly traded strip club operator RCI Hospitality Holdings — including its CEO Eric Langan — have been indicted in connection with a multi-million-dollar criminal tax fraud and bribery scheme, Ne ...

In this photo illustration, the logo of TikTok is displayed on a smartphone screen on April 5, 2025 in Shanghai, China.President Donald Trump on Tuesday extended the deadline for ByteDance to divest TikTok's U.S. business or be banned in the U.S. after a cabinet member on Monday said a "framework deal" had been reached.The extension comes as The Wall Street Journal on Tuesday reported that under the framework deal, about 80% of TikTok's U.S. business would be owned by an investor consortium that includes Or ...

LONDON — Microsoft said on Tuesday that it plans to invest $30 billion in artificial intelligence infrastructure in the U.K. by 2028.The investment includes $15 billion in capital expenditures and $15 billion in its U.K. operations, Microsoft said. The company said the investment would enable it to build the U.K.'s "largest supercomputer," with more than 23,000 advanced graphics processing units, in partnership with Nscale, a British cloud computing firm. The spending commitment comes as President Donald Tr ...

Core Insights - Google is gaining traction in the generative AI space, with its Gemini app surpassing ChatGPT to become the top free app on Apple's App Store [1] - Recent updates to the Gemini AI model, including the launch of the 2.5 Flash Image version, have attracted new users [2] - The Gemini app has gained 13 million new users and has seen 500 million images uploaded, leading to temporary usage limits due to high demand [3] - As of July, the Gemini app had over 450 million monthly active users, contributing to Alphabet's rise as a member of the $3 trillion club [4] - A favorable antitrust ruling has further bolstered Google's position by allowing it to retain its Chrome browser [5]

Waymo partners with Uber to bring robotaxi service to Atlanta and Austin.Alphabet-owned Waymo obtained a permit to start testing its robotaxis at San Francisco International Airport, San Francisco Mayor Daniel Lurie and the company announced on Tuesday.Waymo will partner with the airport to roll out its commercial robotaxi service in phases, "beginning with employee testing soon ahead of welcoming Bay Area riders," company spokesperson Chris Bonelli told CNBC.That means the robotaxis will start with human d ...

Sanjay Beri, chief executive officer and founder of Netskope Inc., listens during a Bloomberg West television interview in San Francisco, California.Netskope is targeting a $7.3 billion valuation in its upcoming initial public offering, after lifting its planned price range.The cybersecurity company said it plans to sell 47.8 million shares at between $17 and $19 apiece. The deal would raise as much as $908 million at the top end.That's up from a previous range of $15 to $17 a share the company revealed in ...

Market Overview - Wall Street experienced a modest decline, with the S&P 500 and Nasdaq slipping from record highs as investors assess trade and economic updates [1] - U.S.-China trade talks are reportedly becoming more productive, with Treasury Secretary expressing confidence in a potential deal [1] - August retail sales exceeded expectations, but did not alter predictions for a 25 basis point interest rate cut by the Federal Reserve [1] - Market expectations remain high for a total of 75 basis points of Fed easing by year-end, according to CME FedWatch tool [1] Company Updates - Amazon's price target was raised by Truist to $270 per share from $250, with credit card data indicating North American revenue tracking $1 billion above consensus estimates [1] - Analysts noted Amazon's conservative forecasting history, which may lead to a conservative outlook for the upcoming quarter [1] - Goldman Sachs received a price target increase from Wells Fargo, raised to $855 from $785, benefiting from strong capital markets activity and demand [1] - Microsoft announced a 10% increase in its quarterly dividend, aligning with its five-year average, and has over $55 billion remaining in its share repurchase authorization [1]

Core Viewpoint - Webtoon Entertainment Inc. shares surged following a significant partnership with Disney to create a digital comic platform, marking a notable increase in stock value and potential for revenue diversification [1][2][3]. Group 1: Partnership Details - Webtoon and Disney have agreed to develop a digital platform for Marvel and Star Wars brands, offering over 35,000 comics from various Disney properties under a single subscription service for the first time [2]. - The deal represents a "material expansion" of a previous partnership, which could lead to a steady stream of recurring income for Webtoon [3]. Group 2: Market Reaction - Following the announcement, Webtoon shares jumped more than 36% in early trading, reaching a new 52-week high and on track for its second-largest one-day advance since going public [1]. - Including the recent rally, Webtoon shares have more than doubled in the past three months, indicating strong market confidence [5]. Group 3: Analyst Perspectives - Deutsche Bank analyst described the agreement as validating Webtoon’s platform as a preferred destination for major intellectual property distribution [3][4]. - Morgan Stanley analyst expressed skepticism regarding the immediate impact on Webtoon’s near-term earnings, highlighting the need for investment to build the new platform [4].

Dave Ricks, chair and chief executive officer of Eli Lilly and Company speaks to the Economic Club of New York in New York City, U.S., March 12, 2024.U.S. policymakers should take note as biopharmaceutical companies pull back on investments in the U.K., Eli Lilly Chief Executive Officer Dave Ricks said in an interview with CNBC.Lilly recently paused plans to create a biotech incubator called Gateway Labs in the U.K., joining other biopharma companies that have put investments in the country on hold amid con ...

Core Viewpoint - Eli Lilly is investing $5 billion to establish a manufacturing facility in Goochland County, Virginia, aimed at enhancing production capacity for targeted cancer drugs and other treatments, marking the beginning of a series of new U.S. investments by the company [1] Group 1: Investment Plans - The company announced plans to invest at least $27 billion to build four new domestic manufacturing plants, in addition to $23 billion in previous investments since 2020 [2] - Eli Lilly expects to announce the locations of the remaining three U.S. sites within the year and aims to start producing medicines at all four facilities within five years [2] Group 2: Industry Context - Drugmakers are increasing production in the U.S. due to potential tariffs on imported pharmaceuticals, which could incentivize companies to re-shore production after a significant decline in domestic drug manufacturing over the past decade [3] Group 3: Facility Details - The new Virginia plant will focus on developing active ingredients for cancer and autoimmune drugs, as well as other advanced treatments, and will be the company's first dedicated site for its bioconjugate platform and monoclonal antibody drugs [4] - The facility will enhance domestic manufacturing of antibody drug conjugates, which link monoclonal antibodies to toxic payloads to target and kill cancer cells [5] Group 4: Strategic Insights - Eli Lilly's CEO highlighted that the new capacity will support pipeline growth, allowing the company to produce new assets that utilize both biologics and antibody drug conjugates [6] - The company plans to shift some production from third-party manufacturers and other locations, primarily from Europe, to the new Virginia site [6] Group 5: Site Selection Rationale - Virginia was chosen for the new plant due to its favorable location, logistics, workforce, and the readiness of the site for construction [7] - The construction had previously begun for a different industrial purpose, and the necessary utilities are already in place, allowing for a swift setup as the company's pipeline advances [7]