According to trading data, Airbnb shares dropped by 14.7% to $111.27 when trading began on the Nasdaq exchange on Aug. 7. The stocks experienced a decrease of over 16% during premarket trading. Bloomberg notes that this drop could potentially be the largest daily decrease in the history of Airbnb shares trading on the market. Analysts were not satisfied with Airbnb's forecast, as reported by...

SunPower Corp, a solar panel manufacturer based in the U.S., has submitted documents to initiate the process of filing for bankruptcy under Article 11 of the U.S. Bankruptcy Code, as reported by MarketWatch. SunPower's Tuesday stock price has dropped by 23%. Since the start of the year, the company's market value has dropped nearly tenfold. The business possesses assets valued at $1.22 billion...

The social network TikTok is being sued by the US Department of Justice for allegedly unlawfully collecting children's data, reports The New York Times. The U.S. Justice Department stated that TikTok broke the law by gathering personal data from users under 13 without parental consent. Additionally, the app let them make and use accounts without always deleting them when requested by parents, as...

Chevron Corp., one of the biggest oil companies in the U.S., is relocating its headquarters from San Ramon, California, to Houston, Texas. The company’s Chairman and CEO Mike Wirth and Deputy Chairman and CEO Mark Nelson will move to Houston, where other senior management team members are located, by the end of 2024. It is anticipated that this will enhance communication with senior management,...

Boeing Co. declared Kelly Ortberg as its new CEO. In a press release, it was announced that Ortberg will start his position on August 8 and will also be appointed to the company's board of directors. Ortberg formerly led Rockwell Collins, a division of the defense contractor RTX Corp, which was formerly known as Raytheon Technologies. Boeing's current CEO, David Calhoun, stated in March that...

According to the Financial Times, US company Meta has agreed to pay $1.4 billion to Texas authorities to resolve allegations that it improperly acquired biometric data from millions of individuals. Attorney General of Texas Ken Paxton claims that this is the biggest settlement payout for individual state litigation ever made in the history of the United States. Paxton said in a complaint filed...

According to Bloomberg, which cites sources, US-based Apple Inc. has postponed the release of its artificial intelligence (AI) platform Apple Intelligence on its smartphones and now intends to do so by October. Apple Intelligence was anticipated to be present on smartphones and tablets before the September release of the iOS 18 and iPadOS 18 operating systems. The platform's introduction has...

Eni, an Italian corporation, hopes to generate 3 million tons of LNG annually from its Congo project by the end of 2025, according to the company’s CEO Claudio Descalzi during a conference call with investors. When discussing the likelihood of Egypt becoming a gas exporter again rather than an importer, Eni's managing director for natural resources, Guido Brusco, pointed out that Egypt has placed...

Over 70 million smartphones were shipped into China in the second quarter, a 10% rise over the same period the previous year. U.S. Apple Inc. dropped out of the top 5 suppliers, shows data from analytics firm Canalys. According to Canalys analyst Lucas Zhong, local businesses hold the top five positions on the list of the biggest smartphone suppliers in the PRC for the first time ever. The Vivo...