Finance
-
Elon Musk’s SpaceX IPO filing just told us what business he’s betting on for the future—and it’s not rockets
It’s no surprise that the SpaceX offering statement, filed the evening of May 20, shows that as of today, the rocket, satellite and AI enterprise sports tiny revenues and books large losses. That its market cap following the IPO slated for mid-June’s expected to hit $1.5 trillion or more highlights that its fans are basing…
-
Walmart shoppers are filling their gas tanks with less than 10 gallons for the first time since 2022, and its CFO calls it ‘an indication of stress’
Walmart shoppers are feeling the crunch of higher prices at the pump, and it could be a sign of where the economy is heading. Walmart CFO John David Rainey said during the retailer’s latest quarterly earnings call this week shoppers were filling their gas tanks with fewer than 10 gallons of gas on average for…
-
Gavin Newsom takes rare step of telling Californians to avoid Chevron: ‘Big Oil is already making billions off Trump’s Iran War’
California Gov. Gavin Newsom is in a spat with a major oil company over who is to blame for the state’s high gas prices, with the Democratic governor’s office urging drivers not to fill up at Chevron stations over Memorial Day weekend. “Pro tip: unbranded gas comes from the same refineries, storage tanks, and pipelines,…
-
They created AI nudes that got millions of views online. Now they’re being charged with crimes
Federal prosecutors have charged two men with using artificial intelligence to create nude videos and photos of female celebrities under a newly enacted law meant to halt the spread of deepfake pornography. Cornelius Shannon, 51, and Arturo Hernandez, 20, were both arrested Tuesday for generating sexually explicit AI content that drew millions of views online,…
-
Jamie Dimon sees ‘exuberance’ in markets. That’s a loaded word when it comes to bubbles popping
Jamie Dimon is starting to sound a bit like Alan Greenspan—and that should make investors nervous. The JPMorgan Chase CEO warned in a Bloomberg TV interview this week that markets may be showing “too much exuberance,” pointing to frothy valuations around artificial intelligence and the Big Tech giants building out the infrastructure behind it. His…
-
Current price of oil as of May 22, 2026
At 9 a.m. Eastern Time today, oil was priced at $104.68 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a drop of $4.08 compared with yesterday morning and around $40.46 higher than the price one year ago. Oil price per barrel % Change Price of oil…
-
‘It’s crazy’: SpaceX could set records as the least shareholder-friendly public company of all time
SpaceX filed for its long awaited IPO. And as corporate governance watchdogs page through the S-1 filing one thing’s for sure: They will find much to fret about. Indeed the governance apparatus stunningly favors the C-suite, the board, and especially founder Elon Musk, at the expense of shareholders. In fact, Musk’s critics had already dialed…
-
You wouldn’t put your entire 401(k) in one stock. Why are you doing it with your credit card points?
When Nick Ewen, editor-in-chief of The Points Guy—a publication which exists entirely on the premise of how to best consume one’s credit card points and miles—found out a friend had just redeemed his Amex Membership Rewards points for a vacuum on Amazon, he had the reaction any points obsessive would. “I was like, you can’t…
-
‘SpaceX is his new baby at the expense of Tesla’: Elon Musk’s IPO could be bad news for his EV maker, investors warns
Elon Musk’s “Muskonomy” is growing, but it may spell trouble for Tesla. SpaceX’s pending IPO reportedly scheduled for June will double Musk’s publicly traded companies, joining Tesla as a target for investors betting on the CEO’s moonshot goals around automation and space exploration. But rather than seeing twice the opportunity to cash in on a…
-
British government’s answer to cost-of-living crisis: discounts on theme park tickets, chocolate bars
The British government is offering cheaper chocolate and discounted entry to theme parks as it seeks to ease a cost-of-living squeeze and win back voters. Treasury chief Rachel Reeves on Thursday announced modest handouts to help alleviate rising costs sparked by the Iran war, including a reduction in import tax on cookies, chocolate and about…