Business News

Latest business news and updates from DripCast.

• Workday Disruption Cuts Off Millions, Hits Major Software Firm Too

  Workday’s major outage locked millions of employees out of workplace accounts and tasks. The payroll and human-resources software serves 11,500 companies, including Walmart and Netflix. Workday blamed a problem found while testing backup…

• Family Dollar Agrees to $63 Million Overcharging Settlement

  Family Dollar will pay $63 million to settle allegations it routinely overcharged shoppers. The settlement includes compensation for eligible customers and a separate discount program. The company must verify prices, train employees, and…

• Nvidia’s Leadership Model Raises Governance Concerns

  Corporate governance experts say Nvidia’s board failed the company and CEO Jensen Huang. They faulted weak oversight and the absence of a clear succession plan. A separate report says Huang denied an alleged affair to Nvidia’s legal and…

• Gulf Supply Rebound Pushes World Oil Market Into Surplus

  The International Energy Agency says recovering Gulf exports are pushing global oil markets into surplus. Global supply rose by 2.3 million barrels daily in October, while inventories increased. The surplus is expected to grow next year,…

• Anthropic’s Sixfold-subscribed IPO Signals a Landmark Deal

  Anthropic’s IPO is six times oversubscribed, potentially becoming the biggest share sale ever. The company is seeking up to $64.4 billion publicly, plus $26 billion privately. Its revenue run rate reached $81 billion, while Nvidia plans a…

• 2027 401(K) Contribution Cap Rises Under New IRS Limits

  The IRS raised the 2027 401(k) contribution limit to $25,500. Older workers can contribute extra, with higher catch-up limits for some. First, capture your full employer match.

• Nvidia Turmoil Widens as China Chip Sales Draw Washington Scrutiny

  Jensen Huang resigned as Nvidia’s chief after reports of relationships raising national security concerns. Lawmakers are demanding testimony and investigations into alleged chip smuggling and export-control failures. Nvidia shares slid…

• Markets Rise Despite Nvidia Turmoil as Musk-spacex Deal Looms

  U.S. stock futures held steady as investors awaited inflation data and Nvidia earnings. The ten-year Treasury yield hit 5.10%, while bitcoin fell below $70,000. Microsoft reported early recovery from an outage affecting Outlook, Teams, and…

• Rubik’s Cube Manufacturing Returns to Its Hungarian Roots

  Rubik’s Cube production is returning to Hungary, where inventor Ernő Rubik attended a factory opening. The new line aims to produce one million cubes annually. Nine-year-old Xuanyi Geng holds the speed-solving record, completing the puzzle…

• Scout Motors Nears Launch With 212,000 Reservations, Plant Almost Ready

  Scout Motors has begun building validation vehicles at its South Carolina factory. Its Traveler SUV and Terra pickup have about 212,000 reservations. Production is planned for 2027, with deliveries expected in 2028. -- Scout Motors has…

• Spacex to Spend $74B on AI Data Center Campuses in Two States

  SpaceX plans to invest $74 billion in major data center campuses across Texas and Arizona. The projects would rank among America’s largest, and Arizona’s campus promises thousands of construction jobs. Texas’s center will generate its own…

• Investors Weigh Huang’s Nvidia Exit as Futures Rebound

  Nvidia CEO Jensen Huang stepped down, and CFO Colette Kress became interim chief executive. The board is searching for a permanent successor as Nvidia shares fell 4.3%. Oil climbed above $95 a barrel, while U.S. stock futures rose after…

• Musk’s Cybertruck U-turn Sparks Backlash as Production Nears End

  Tesla plans to end Cybertruck production by summer 2027, making room for its Cybercab. Tesla says the truck isn’t unprofitable, but critics blame weak promotion and shifting priorities. An aftermarket company offered to build Cybertrucks…

• U.S. Existing-home Sales Hit Their Lowest Point Since 2010

  Sales of previously owned U.S. homes fell to their lowest level since 2010. High mortgage rates and home prices are discouraging buyers and homeowners considering a move. Typical buyers would pay about $1,100 more monthly than existing…

• Nvidia Woes Rattle Asian AI Stocks and Alibaba Shares

  Nvidia shares plunged after reports its board discussed CEO Jensen Huang’s leadership. Huang’s admitted relationship with a businesswoman allegedly linked to China raised security concerns. Asian markets fell as investors reassessed the…

• Logitech Gives Staff Launch Day Off for GTA 6 Gaming

  Logitech is giving every employee one paid day annually to play video games. The perk includes *Grand Theft Auto VI*, with employees free to choose other activities. Executives say play can boost focus and energy, while other organizations…

• AI Rally Lifts Nasdaq and Broader Market as Chip Stocks Rebound

  Stocks rebounded as strong AI earnings lifted technology shares, with the Nasdaq gaining 1.6%. CoreWeave surged nearly 25% after beating revenue expectations and raising its outlook. Hotter inflation increased rate-hike bets, while…

• Spacex Proposes $24 Billion Texas Data Center Powered by Gas

  SpaceX plans a gas-powered AI complex near Brownsville, using turbines to bypass Texas’s crowded grid. Environmental advocates warn of pollution, water use, and higher bills; supporters cite jobs. Starbase commissioners will consider tax…

• Dana White, LFC Clash Over ‘Power Spank’ Name in Legal Fight

  Dana White’s Power Slap sent a cease-and-desist letter over LFC’s “Power Spank” parody. The lingerie fighting league debuted its butt-slapping contest, featuring scantily clad women, at a Florida event. LFC says the show mocks Power Slap…

• Coreweave Earnings Lift AI Stocks as Inflation Stirs Rate Bets

  CoreWeave shares surged after strong quarterly revenue and a $132.5 billion backlog. Its results helped lift AI stocks, while Nvidia also advanced. Investors watched Anthropic’s planned November 18 IPO pricing and November 19 trading…