Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon. The partnership will officially launch at the start of next F1 season…
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Business
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OpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. While OpenAI didn’t name…
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Tens of thousands of longshoremen went on strike at midnight ET, shutting down major ports along the East and Gulf coasts and choking off deliveries of everything from produce to auto parts. Consumers aren’t likely…
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As Microsoft investors get ready for quarterly earnings this month, there’s one particular metric that’s become increasingly important: finance leases. A finance lease lets a company pay for an asset over years, rather than all upfront. For…
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PepsiCo said Tuesday that it’s buying Mexican-American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years. Like many food companies, Pepsi has been trying to shift its portfolio…
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With a potential strike at ports up and down the East Coast and along the Gulf Coast set to begin after midnight Monday, logistics executives tell CNBC the remaining hours are critical in moving out as…
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Business
Sam Altman tells OpenAI staff there’s no plan for him to receive ‘giant equity stake’ in company
At an all-hands meeting Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling that information “just not true,” according to a person…
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Tiger Woods’ new logo for his Sun Day Red golf apparel line is facing a trademark dispute. Tigeraire, a company that makes cooling products for athletes, has filed a notice of opposition with the U.S. Patent and…
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Buried in a roughly 200-page quarterly filing from JPMorgan Chase last month were eight words that underscore how contentious the bank’s relationship with the government has become. The lender disclosed that the Consumer Financial Protection Bureau could punish JPMorgan for its…
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Business
Promises of ‘passive income’ on Amazon led to death threats for negative online review, FTC says
Jamaal Sanford received a disturbing email in May of last year. The message, whose sender claimed to be part of a “Russian shadow team,” contained Sanford’s home address, social security number and his daughter’s college.…