Business News — Wiresavvy
Wiresavvy Business News covers U.S. companies, corporate strategy, leadership, and the forces shaping the modern economy.
Nvidia and Jensen Huang Sued Over Alleged Failure to Disclose Chinese Spy Concerns
Nvidia and CEO Jensen Huang face a shareholder lawsuit alleging investors were misled over his reported ties to a businesswoman suspected of working for Chinese intelligence.
Global Markets Rise After US Midterm Elections as AI Stocks Face Heavy Selling
Global stock markets mostly advanced after Democratic victories in the US midterm elections, while technology shares tumbled amid concerns about AI investment, potential policy changes and the future of major technology companies.
Musk Backs SpaceXSI Rebrand as AI Terminology Shifts Toward ‘Super Intelligence’
Elon Musk says SpaceX will rename its AI unit SpaceXAI to SpaceXSI, adopting President Donald Trump’s preferred “super intelligence” terminology.
Kevin Warsh Faces Inflation Test as Fed Considers First Rate Hike in Years
Federal Reserve Chair Kevin Warsh faces a critical interest-rate decision as inflation pressures, rising oil prices and political tensions challenge the central bank.
More Business News
GameStop Bids $55B to Acquire eBay in Surprise Move
GameStop has made a $55.5 billion bid to acquire eBay in a cash-and-stock deal. The bold move raises questions about strategy, funding, and deal feasibility.
Reed Hastings Steps Down from Netflix Board After Nearly 30 Years
Netflix co-founder Reed Hastings will step down from the board after nearly 30 years, marking a major leadership shift for the streaming giant.
US Gas Prices Hit $4 for First Time Since 2022 Amid War
US gas prices surge past $4 per gallon as the Iran war disrupts global oil supply, raising inflation concerns and increasing costs for consumers worldwide.
U.S. Companies Face Higher Oil Prices, Squeezing Wall Street’s Bright Earnings Outlook
Despite a rosy 2026 earnings forecast, U.S. corporations are now grappling with the reality of significantly higher oil costs this year, even if the Iran conflict ends swiftly. Investors may need to rethink those optimistic Wall Street projections for corporate profits in 2026.
Federal Reserve Bank of New York: Consumers and Businesses Bore Nearly 90% of 2025 Tariff Costs
A new Federal Reserve Bank of New York analysis finds that nearly 90% of the economic burden from 2025 tariffs was paid by U.S. consumers and businesses, challenging claims that foreign exporters absorbed most costs.
Tesla Profit Drops 46% Amid Declining EV Sales, Shifting Focus to AI and Robotaxi Services
Tesla's profits have fallen 46% as it loses its position as the top EV maker to BYD. With declining sales and rising competition, the company pivots towards AI, self-driving cars, and robotaxis.
Nike to Lay Off 775 Workers as Automation Reshapes
Nike is laying off 775 employees in the US as automation reshapes distribution centers, highlighting broader changes in technology and workforce management.
U.S.–Taiwan Trade Deal Secures $250B Chip Investment, Lowers Tariffs
The US and Taiwan have signed a big trade deal that will lower tariffs, bring in $250 billion in semiconductor investment, and help the US make more chips. This is important because there are problems in the global supply chain and between countries.
U.S. Banks Say AI Will Boost Productivity and Likely Reduce Jobs
Major U.S. banks including JPMorgan Chase and Wells Fargo say AI is lifting productivity and may lead to job cuts across the sector.
Netflix to Acquire Warner Bros. for $83 Billion, Reshaping Entertainment Industry
Netflix acquires Warner Bros. for $83B, surpassing competitors and reshaping the global entertainment landscape.
Trump Set to Announce $15.5 Billion Aid Package for Farm Sector
Trump administration to unveil $15.5B farm aid package to support farmers amid trade conflicts and weak crop prices.
Hertz’s EV Gamble Exposes Challenges in U.S. Electric Vehicle Transition
Hertz’s multibillion-dollar EV investment faces major U.S. adoption challenges, revealing structural challenges in the electric vehicle market.
Trump’s Tariffs May Have Reached Their Peak Impact
Experts weigh whether Trump’s tariffs have peaked or if U.S. protectionist measures may rise again.
US Equities Reach Record Highs Despite Growing Economic Risks
US equities hit record highs despite rising bankruptcies, high debt, and economic pressures exposing underlying vulnerabilities.