Companies & Startups News

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Target CEO to step down after declining sales and profits

After months of missing the bullseye on sales, the CEO of Target is headed for the exit. The company said that CEO Brian Cornell will be replaced in February. Jo Ling Kent has more.

CBS America

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Inside the price war between Ozempic and other weight loss drugs

The maker of Ozempic is cutting the price of the drug nearly in half for some patients. Novo Nordisk had already cut the price of Wegovy, a medication with the same active ingredient that's approved for weight loss.

CBS America

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Tesla lawsuit alleges racism at Fremont factory

A lawsuit claims Tesla fired or forced out human resources manager who validated complaints of racism at its Fremont factory.

Fox News

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Spirit Airlines warns of potential inability to stay in business

Shares of Spirit Aviation Holdings, the parent company of Spirit Airlines, plummeted on Tuesday after the company warned of "substantial doubt" about its ability to stay in business.

CBS America

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Why Trump is calling for Intel CEO's immediate resignation

Shares of Intel slipped on Thursday after President Trump called on the CEO to resign. CBS News contributor JD Durkin has more.

CBS News

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Boeing defence workers strike, demanding better pay and benefits

Workers who build the US military's fighter jets and drones are on strike. The walkout is putting pressure on aircraft manufacturer Boeing. Nearly a third of its revenue comes from its defence and space division.

Al Jazeera

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Sony sues Tencent over 'slavish' Horizon knock-off

Sony is suing Tencent over the game Light of Motiram, which Sony claims is a rip-off of their Horizon franchise. Judging by the trailers only—the two games feature a red-haired female protagonist in similar outfits, a post-apocalyptic wo...

IGN

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Samsung shares jump on news of $16.5 bln Tesla chips deal

Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business.

Reuters

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Tesla faces 'a few rough quarters' from end of US EV support: Musk

Tesla Chief Executive Elon Musk said that U.S. government cuts in support for electric vehicle makers could lead to a "few rough quarters" for the company before a wave of revenue from self-driving software and services begins late next ...

Reuters

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Labubu maker Pop Mart forecasting a 350% profit surge

Chinese toy maker Pop Mart is forecasting a 350 per cent profit jump for the first half of 2025 as global demand for the wildly popular Labubu characters surges.

CBC News

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AstraZeneca to invest $50 bln in U.S. as pharma tariffs loom

AstraZeneca plans to spend $50 billion to expand manufacturing and research capabilities in the U.S. by 2030, the latest big investment by a pharmaceutical company reacting to President Donald Trump's tariff policy.

Reuters

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Automaker Stellantis warns of $3.7B Cdn loss due to tariffs

Stellantis, the maker of Jeep and Ram vehicles, says its preliminary estimates show a nearly $3.7-billion Cdn net loss in the first half of the year due to U.S. tariffs, some hefty charges and restructuring.

CBC News

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New York sushi spot reimagining what open-style hand rolls look like

Nami Nori is on a mission to make elevated Japanese cuisine accessible, with an affordable omakase menu and allergen-conscious approach.

CNN

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Holographic cartridges might be solution to growing global data needs

A London startup, HoloMem, is developing holographic polymer tape cartridges that store up to 200 terabytes of data and last over 50 years, offering a high-density alternative to traditional storage, Isabel Rosales reports.

CNN

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Astronomer CEO resigns after viral incident at Coldplay concert

Astronomer CEO Andy Byron, seen in a viral “kiss cam” video embracing an employee at a Coldplay concert, has resigned, the company says in a LinkedIn post.

CNN

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Meta hires two key AI researchers from Apple

Meta is bringing in a pair of key artificial intelligence experts who worked at Apple Inc., hiring Mark Lee and Tom Gunter for its Superintelligence Labs team, shortly after poaching their former boss from the iPhone maker.

Bloomberg

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How these holograms could help solve AI’s storage problem

With the boom in AI driving a growth of digital data at an unprecedented rate, the traditional magnetic tapes we have been using for 50 years may not be able to cope, according to a UK start-up developing a low-energy replacement.

Reuters

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Nvidia to restart H20 chip exports to China

Nvidia plans to resume sales of its H20 AI chip to China after securing Washington's assurances that such shipments would get approved. US government officials said they would green-light export licenses for the H20 artificial intelligen...

Bloomberg

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Tesla makes long-awaited India debut

Tesla is opening its first India showroom as the EV maker looks towards new markets to offset slowing sales in regions where it's already well established. Bloomberg's India Auto Reporter, Alisha Sachdev explains the significance of the ...

Bloomberg

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Nvidia CEO dismisses concerns China will use his chips

The United States has a ban on sales of Nvidia's high-level chips to Chinese firms, but Nvidia CEO Jensen Huang says China doesn't actually need Nvidia's chips. Stephen Witt, author of the book "The Thinking Machine: Jensen Huang, Nvidia...

CBS News

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Yaccarino steps down as CEO of Elon Musk's X

Linda Yaccarino is stepping down as CEO of X after two years leading Elon Musk's social media company. Yaccarino's departure comes one day after the company's Grok chatbot began pushing antisemitic tropes in responses to users.

Bloomberg

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Musk chatbot Grok removes posts after antisemitism complaints

Grok, the chatbot developed by the Elon Musk-founded company xAI, removed what it called "inappropriate" social media posts after complaints from X users and the Anti-Defamation League that Grok produced content with antisemitic tropes a...

Reuters

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Decoding the Middle East's late-stage venture capital gap

The Middle East's venture capital ecosystem faces a paradox: despite deep pools of capital, startups struggle to secure the funding needed to scale. Bloomberg's Laura Gardner Cuesta discusses the implications with Joumanna Bercetche on H...

Bloomberg

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Trump criticizes Musk's new 'America Party' as feud grows

President Donald Trump called Elon Musk's plans to form a new political party "ridiculous," launching new barbs at the tech billionaire.

Reuters

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All you need to know about Neuralink's Telepathy update

Elon Musk's brain chip company Neuralink hosted its 2025 summer update event in June, briefing the public on developments with two company products: Telepathy and Blindsight. Today, we look at the most important updates on Telepathy.

Mashable

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Kenya startup launches AI app to bridge sign language, hearing gap

A Kenyan tech startup is developing an innovative application called SignVrse, aimed at bridging the communication gap between sign language users and the hearing world. Using artificial intelligence, the platform interprets between spee...

Al Jazeera

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New polls shows Europeans want tougher enforcement on Big Tech

French, German and Spanish participants to a YouGov survey called for stricter EU enforcements of digital regulations and consider Big Tech more powerful than the EU.

Euronews

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Tesla stock falls after Trump feud reignites

Craig Irwin, Roth Capital Partners, joins 'Closing Bell Overtime' to talk Tesla's stock sliding as Elon Musk reignites his feud with President Trump.

CNBC

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Startup from Nepal deploying drones to help climbers on Everest

CNN’s Allison Chinchar reports on a Nepalese startup that utilizing drones to carry equipment up and down Mt. Everest for climbers. The drones also bring garbage back down.

CNN

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Driving Force: Uber CEO Dara Khosrowshahi

He's the son of an immigrant family who fled Tehran and the Iranian revolution. He's also the chief executive officer of Uber, who has worked to change the culture of the company he took over in 2017, helping make it a leading transporta...

CBS News