The Australian Stock Exchange (ASX) began its trading week strong after stocks based in the United States finished last week on the red, with investors continuing to bet that the Reserve Bank of Australia (RBA) would start cutting interest rates by September.
Industry
Microsoft to Spend More Funding to Develop AI Infrastructure
Microsoft said that it would increase its spending on developing its artificial intelligence infrastructure despite a slowed growth in its cloud business.
Starbucks Sees Declining Sales as More Consumers Step Away From High-Priced Coffee
The coffee giant's global sales dropped by 3% at all stores open for at least a year. Starbucks' sales tumbled globally as more US and international consumers rejected its high-priced coffees.
Tesla Analyst Nearly Crashes in ‘Full Self-Driving’ Mode Days After Musk Tells Skeptics To Go for a Test Drive
The Tesla analyst noted that he had to intervene on several occasions to avoid a crash during the test drive.
Not a Happy Meal This Time: Mcdonald’s Reports First Drop on Global Sales in 3 Years
McDonald’s reported that its global sales dipped by 1% for the second quarter, the first time it has done so in over three years.
Latest News
The payments company Lemon Squeezy announced that it has been acquired by competitor and industry giant Stripe for an undisclosed amount.
American Airlines agreed to allot $4.2 billion worth in pay and benefits to its flight attendants after agreeing on a tentative deal.
Rupert Murdoch argues that his other children would likely neutralize his media empire's right-leaning views if they get control of the assets when he passes away.
Under Prop 22, drivers for Uber and Lyft are not entitled to benefits such as overtime pay and paid sick leave.
Taco Bell's Bajaversary celebration will kick off on July 29 with a free drink offer to all customers.
Maersk Line agreed to a settlement offered by the US Labor Department in relation to an alleged retaliatory termination of a container ship seaman who revealed questionable practices and potential safety concerns onboard the company’s vessels.
The lawsuit argued that the merger would eliminate the existing competition between the supermarket chains and harm shoppers and workers in Colorado.
The study also found that the massive layoffs within the past year were because not enough employees quit in response to the RTO mandates.
The produce products were distributed to Adi, Kroger, and Walmart stores in 17 US states. Wiers Farm, a major farm and food distributor based in Ohio, has recently expanded a recall of its produce products due to a potential listeria contamination.
