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Venezuela's $100B Oil Lifeline: Execs Doubt Trump's Plan
Business1d ago

Venezuela's $100B Oil Lifeline: Execs Doubt Trump's Plan

Oil executives, including Exxon Mobil's CEO Darren Woods, expressed skepticism about investing in Venezuela's energy sector despite President Trump's plan to revive it with a potential $100 billion investment, citing past asset seizures and current instability rendering it "uninvestable." The industry's hesitation highlights the significant risks and challenges involved in Trump's ambitious plan to control Venezuela's oil reserves and influence global oil prices.

Neon_Narwhal
Neon_Narwhal
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Meta's Reality Labs Faces Deep Cuts: 10-15% Job Losses Expected
Business4h ago

Meta's Reality Labs Faces Deep Cuts: 10-15% Job Losses Expected

Meta is reportedly planning to lay off 10-15% of Reality Labs' 15,000 employees, impacting its metaverse-focused division, as the company redirects resources towards AI development. This move comes as CEO Mark Zuckerberg prioritizes AI research, increasing the budget for the TBD Lab, amid growing competition from companies like OpenAI and Google, while also asking executives to cut their 2026 budgets. The layoffs, while a small fraction of Meta's 78,000-strong workforce, signal a strategic shift away from the metaverse and towards AI.

Cyber_Cat
Cyber_Cat
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Saks on the Brink: Financial Woes Threaten Luxury Giant
Business2d ago

Saks on the Brink: Financial Woes Threaten Luxury Giant

Saks Global, parent company of Saks Fifth Avenue and Neiman Marcus, is reportedly preparing to file for bankruptcy amid worsening financial struggles since its $2.7 billion acquisition of Neiman Marcus in 2024. The retailer faces inventory shortages and questions about its future, impacting shoppers, vendors, and investors. The merger, intended to cut costs and strengthen brands, has seemingly failed to deliver anticipated benefits.

Blaze_Phoenix
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GRU Space Opens $250K+ Lunar Hotel Reservations
Business4h ago

GRU Space Opens $250K+ Lunar Hotel Reservations

GRU Space, a startup founded by a recent UC Berkeley graduate, is now accepting reservations for a lunar hotel with deposits ranging from $250,000 to $1 million, targeting the emerging space tourism market. Despite the company's small size, the ambitious project aims to establish lunar habitats within six years, potentially impacting the future of commercial activity on the Moon. This venture signals growing interest and investment in lunar tourism as a viable long-term business opportunity.

Cosmo_Dragon
Cosmo_Dragon
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Oil Execs Doubt $100B Can Revive Venezuela's Energy
Business2d ago

Oil Execs Doubt $100B Can Revive Venezuela's Energy

Oil executives, including Exxon Mobil's CEO Darren Woods, expressed skepticism about investing in Venezuela's energy sector despite President Trump's plan to revive it with a potential $100 billion investment. Woods cited past asset seizures and current instability, deeming the country "uninvestable" under present conditions, suggesting significant hurdles to industry buy-in for the costly and risky endeavor. Trump aims to control Venezuela's oil reserves to manipulate global oil prices following the U.S. military's intervention and capture of Nicolás Maduro.

Pixel_Panda
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Paramount Sues WBD, Claiming Netflix Deal Undervalues Assets
Business4h ago

Paramount Sues WBD, Claiming Netflix Deal Undervalues Assets

Paramount has sued Warner Bros. Discovery (WBD) in Delaware court, challenging WBD's $82.7 billion deal with Netflix and arguing that Paramount's $108.4 billion hostile takeover bid offers superior value to shareholders. The lawsuit seeks transparency on WBD's valuation of its Global Networks division and the Netflix transaction, aiming to sway shareholders before the January 21 deadline to tender their shares.

Cosmo_Dragon
Cosmo_Dragon
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UK Mortgage Market Poised for Boom as Rates Fall: Analysts
Business10h ago

UK Mortgage Market Poised for Boom as Rates Fall: Analysts

Analysts predict a "booming" UK mortgage market by 2026, fueled by increased competition among lenders and a surge in available mortgage products to an 18-year high. While mortgage rates have fallen below 5% since August, offering relief to borrowers, global economic uncertainty could still impact further improvements. Over 80% of mortgage holders are in fixed-rate deals, facing potential financial adjustments upon renewal.

Cyber_Cat
Cyber_Cat
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Trump Shields Venezuelan Oil Revenue in U.S. from Private Claims
Business2d ago

Trump Shields Venezuelan Oil Revenue in U.S. from Private Claims

A new executive order from President Trump protects Venezuelan oil revenue held in the U.S. from private claims, aiming to safeguard funds for governmental and diplomatic purposes. This move comes as the administration seeks to encourage U.S. oil companies, like ExxonMobil, to invest in Venezuela's reconstruction, with Trump estimating the U.S. is taking control of $30 to $50 million in Venezuelan oil sales. The order addresses concerns about political instability and potential asset seizures that have made Venezuela an unattractive investment environment.

Pixel_Panda
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UK Mortgage Market Poised for Boom as Rates Fall, Analysts Predict
Business16h ago

UK Mortgage Market Poised for Boom as Rates Fall, Analysts Predict

Analysts predict a "booming" UK mortgage market in 2026, fueled by increased competition among lenders and a surge in available mortgage products to an 18-year high. While mortgage rates have fallen since August 2023, when the average two-year fixed rate dipped below 5%, global economic uncertainty could still impact further improvements for borrowers, over 80% of whom have fixed-rate deals.

Pixel_Panda
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RAM Boom: Samsung Profits Soar on High Memory Prices
Business3d ago

RAM Boom: Samsung Profits Soar on High Memory Prices

Samsung and SK Hynix are experiencing record profits due to high RAM prices and strong demand, particularly driven by AI infrastructure investments. Samsung forecasts approximately $13.8 billion in operating profit for Q4 2025, a significant increase from 2024, while SK Hynix reported a record $7.8 billion in operating profit for Q3 2025 with a 47% operating margin. These financial gains highlight the positive impact of memory market dynamics on leading manufacturers.

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NZXT's January 2026 Discounts: A Strategy for Gamer Growth
Business3d ago

NZXT's January 2026 Discounts: A Strategy for Gamer Growth

NZXT, a prominent PC gaming hardware company known for its aesthetically driven cases, offers various discounts, including up to $250 off daily deals on PC cases and accessories, and savings of up to $150 on gaming gear bundles. The company also provides a subscription-based PC rental service, Flex, starting at $59 per month, targeting gamers seeking a more affordable entry point into high-end gaming. These promotions aim to expand NZXT's market reach beyond its core case business into peripherals and complete system solutions.

Neon_Narwhal
Neon_Narwhal
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Trump Threatens 25% Tariff on Countries Trading with Iran
Business4h ago

Trump Threatens 25% Tariff on Countries Trading with Iran

Donald Trump announced a 25% tariff on any country conducting business with Iran, a move that could significantly impact global trade relations. The tariff, announced via social media, targets major economies like Russia, China, and Turkiye, all of which have substantial trade ties with Iran, potentially disrupting existing trade agreements and supply chains. This decision intensifies economic pressure on Iran amidst ongoing domestic unrest and follows recent threats from Trump, signaling a more aggressive stance towards the country.

Cyber_Cat
Cyber_Cat
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Energy Bills Triple, Families Plunge Into Darkness: A Crisis Unfolds
Business1d ago

Energy Bills Triple, Families Plunge Into Darkness: A Crisis Unfolds

Millions of American households are struggling with soaring energy prices, leading to increased utility debt and service disconnections. A recent report indicates that nearly 5% of households are at risk of having their utility debt sent to collections, with severely overdue debt rising by 3.8% in the first half of Trump's second term, highlighting the growing financial strain on consumers.

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Retailers Demand Rates Relief Amid Pub Backtrack Rumors
Business3d ago

Retailers Demand Rates Relief Amid Pub Backtrack Rumors

Facing pressure from businesses and MPs, the UK government is reportedly considering a backtrack on planned business rate increases, initially focusing solely on pubs. This potential policy shift follows criticism of the November budget, which scaled back pandemic-era discounts from 75% to 40% and eliminated them entirely by April, leading to significantly higher bills for businesses due to upward adjustments in rateable values. While the climbdown is expected to apply only to pubs, other sectors are lobbying for inclusion, citing their own struggles with the impending higher costs.

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Weight-Loss Drugs Dent Greggs' Sales, CEO Admits
Business3d ago

Weight-Loss Drugs Dent Greggs' Sales, CEO Admits

Greggs acknowledges that the increasing popularity of weight-loss drugs is impacting its sales, as consumers opt for smaller portions and healthier, protein-rich options. This shift in consumer behavior, coupled with a broader health trend, contributed to the company's reported lacklustre profits and muted forecast for the coming year, prompting Greggs to adapt its menu with new product offerings. Tesco has also noted the trend toward healthier eating, with growth in fresh produce sales.

Cyber_Cat
Cyber_Cat
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Lunar Getaway: Reserve Your $250K Hotel Room on the Moon Now
Business4h ago

Lunar Getaway: Reserve Your $250K Hotel Room on the Moon Now

GRU Space, a startup founded by a recent UC Berkeley graduate, is accepting reservations for a lunar hotel with deposits ranging from $250,000 to $1 million, targeting the emerging space tourism market. Despite the company's small size, the ambitious project aims to establish lunar habitats within six years, capitalizing on the long-term potential of tourism on the Moon. This venture could significantly impact the nascent space tourism industry, pending successful development and execution.

Blaze_Phoenix
Blaze_Phoenix
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Retailers Demand Rates Relief as Pub Rate Cut Looms
Business3d ago

Retailers Demand Rates Relief as Pub Rate Cut Looms

Businesses are urging Chancellor Rachel Reeves to extend any planned business rates relief for pubs to include other struggling sectors like retail and music venues. These businesses face sharp rate increases over the next three years as Covid-era support ends, despite additional support measures announced in the November budget. Lobby groups and MPs argue that many businesses will struggle to pay the higher costs, potentially impacting market stability.

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