PayPal Prepares Job Cuts As New CEO Takes "Deliberate Steps" In Turnaround Strategy

SpaceX Acquires Cursor AI In $60 Billion Deal As Coding Agent Race Heats Up SpaceX has agreed to acquire AI coding startup Cursor for $60 billion, giving Elon Musk's artificial intelligence empire a leg up in the chatbot coding race currently led by frontier AI labs such as OpenAI, Anthropic, and Google. The Cursor acquisition was announced in a SpaceX 8-K filing with the SEC on Tuesday morning. Details of the deal show that Cursor shareholders will receive SpaceX Class A common stock, implying a Cursor equity value of $60 billion. The...

Key Events This Week: Warsh Nomination Hearing, Retail Sales, Fed Blackout, Earnings As the war in Iran enters its 8th week, Deutsche Bank's Jim Reid says that recent developments can be framed in two ways: either five steps forward towards peace and three back (seems more apt than three and two), or as evidence that the two sides remain far enough apart that a lasting deal will be extremely hard to achieve and markets have become far too optimistic. Reid leans more towards the former, but the comparison with recent history...

Trump Says Americans Opposed To Iran War Are 'Foolish', Affirms 'Final' Tuesday Deadline After Iran Again Rejects Ceasefire Summary:  A Sunday night Axios report on a US-proposed 45-day ceasefire has by Monday morning been rejected by Iran, which later on Monday issued a 10-point letter via Pakistan.  Israel strikes large petrochemical plant at South Pars, which is responsible for half of the country’s petrochemical production. Trump reaffirms Tuesday deadline before vital infrastructure gets attacked as 'final', calls Americans opposed to Iran war 'foolish' - saying it's all about Tehran not getting a nuke. Trump warned...