Wall Street
Despite $22 Million Opposition from 26 Billionaires, Democratic Socialist Zohran Mamdani Wins New York Mayoral Race
Nov 07, 2025 07:21 pm CST
Democratic socialist Zohran Mamdani has been elected New York's next mayor despite facing over $22 million in opposition funding from America's wealthiest individuals. Campaigning on progressive policies including free public transport and universal childcare, Mamdani overcame financial resistance from 26 billionaires including Michael Bloomberg and Bill Ackman, who have since extended offers of cooperation following his victory. Mamdani will take office in January 2026.
OpenAI CEO Sam Altman Rejects Government Guarantees While Projecting $20 Billion Revenue Run Rate
Nov 07, 2025 09:50 am CST
OpenAI CEO Sam Altman has declared the company doesn't seek government guarantees for data centers while projecting over $20 billion annual revenue run rate by year-end. With $1.4 trillion in commitments planned over eight years and partnerships with Nvidia and AMD, the ChatGPT creator emphasizes market forces should determine success amid growing concerns about AI investment returns.
IBM Cuts Thousands of Jobs While Pivoting Toward High-Margin Software and AI Cloud Services
Nov 05, 2025 07:48 am CST
IBM announces workforce reduction affecting a low single-digit percentage of its 270,000 global employees as the company strategically shifts focus to high-margin software and AI-driven cloud services under CEO Arvind Krishna's leadership. Despite 35% stock growth this year, recent slowdown in cloud software segment has raised investor concerns about IBM's positioning in the competitive cloud services market.
Zohran Mamdani Reassures New York Business Leaders While Maintaining Progressive Vision for City's Future
Nov 04, 2025 05:48 pm CST
Socialist mayoral frontrunner Zohran Mamdani is building bridges with New York's business community while staying committed to addressing the city's affordability crisis. Despite criticism from conservative quarters, the 34-year-old Democratic candidate has engaged corporate leaders, retained the current police commissioner, and emphasized public-private collaboration, signaling a pragmatic approach to governance should he win Tuesday's election.
JPMorgan Chase Flagged Over $1 Billion in Suspicious Transactions Linked to Jeffrey Epstein in Newly Unsealed Records
Nov 02, 2025 12:56 pm CST
Newly unsealed court documents reveal JPMorgan Chase flagged over $1 billion in suspicious transactions connected to Jeffrey Epstein dating back to 2002, exposing deep financial ties to Wall Street figures including Leon Black and Jes Staley, and resulting in significant legal settlements with abuse survivors and the US Virgin Islands.
Oil Prices Surge as Trump Imposes "Massive" Sanctions on Russian Energy Giants Amid Mixed Global Market Performance
Oct 24, 2025 01:56 am CST
Wall Street exhibits minimal movement while oil prices jump 5.6% following President Trump's announcement of major sanctions against Russian oil companies Rosneft and Lukoil, aimed at pressuring Putin to negotiate an end to the Ukraine war. Meanwhile, Tesla shares decline on disappointing earnings while global markets show mixed performance amid geopolitical and economic developments.
AI Investment Risks: What Could Derail The Technology Bull Market On Wall Street
Oct 16, 2025 12:44 am CST
Investors are monitoring potential vulnerabilities in AI investments despite record market highs. With approximately 50% of the S&P 500's $57 trillion market cap exposed to artificial intelligence, concerns about massive capital expenditures, return on investments, energy infrastructure limitations, and circular investment relationships between tech giants could signal trouble for the technology-driven bull market.
Adani Group Shares Add Almost $20 Billion As Rally Extends
Sep 23, 2025 03:54 pm CST
Adani Group shares have added almost $20 billion in two sessions after India's market regulator dismissed some of Hindenburg Research's allegations against the conglomerate and its billionaire founder, Gautam Adani.
New York Governor Endorses Zohran Mamdani In Mayoral Race
Sep 15, 2025 05:04 pm CST
New York Governor Kathy Hochul has endorsed Democratic nominee Zohran Mamdani for mayor of New York City, a key affirmation for the 33-year-old frontrunner whose candidacy hasn't yet been fully embraced by members of his own party.
Opinion | The 'Inner Circle' That Runs America, And Why India Needs To Court It
Sep 01, 2025 07:00 pm CST
Though Trump, with his laser focus on tariffs, has put almost every US relationship under strain, countries like Israel, China, and even Pakistan have weathered the storm. How?