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SaaSpocalypse Is Back: IBM Crashes Most Since 1987 As Customers Abruptly "Shift CapEx Spending"
SaaSpocalypse Is Back: IBM Crashes Most Since 1987 As Customers Abruptly "Shift CapEx Spending"
IBM shares plunged almost 20% in premarket trading, putting the stock on track for its worst intra-day collapse since Oct. 19, 1987.
Worse than the Dot Com crash...
The catalyst for the selloff was IBM CEO Arvind Krishna's letter to investors outlining preliminary second-quarter results.
Here is what's key:
IBM CEO: DID NOT ANTICIPATE MAGNITUDE OF CAPEX REPRIORITIZATION
Traders were likely caught off guard by a 7% decline in infrastructure revenue, raising new concerns about demand across one of IBM's key...
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Jun 1, 2026 / Tyler Durden
BP Sells 5% Stake In Australia's Newest $35 Billion LNG Project
BP Sells 5% Stake In Australia's Newest $35 Billion LNG Project
By Tsvetana Paraskova of OilPrice.com
BP will sell 5% in the $35-billion Browse LNG project in Australia, which Australian energy giant Woodside is looking to progress, the UK-based supermajor told Reuters on Monday.
BP is selling the 5% stake, out of its total of its 44% interest, to South Korea's GS Energy.
“The dilution reflects BP’s disciplined approach to portfolio management by bringing in a committed partner,” BP said in a statement emailed to Reuters.
The Browse LNG project in Australia, proposed by...
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May 3, 2026 / Tyler Durden
In "Watershed Moment" China Orders Companies To Defy US Sanctions
In "Watershed Moment" China Orders Companies To Defy US Sanctions
China ordered companies in the country not to comply with US sanctions on five domestic refiners linked to the Iranian oil trade, deploying for the first time a blocking measure introduced in 2021 that was aimed at protecting its firms from foreign laws it deemed unjustified.
Refiners - including Hengli Petrochemical (Dalian) Refinery which was sanctioned last month and several other privately-owned processors - had been facing asset freezes and transaction bans. Hengli was the most ambitious target to date in China’s refining sector, and...
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Aug 17, 2026 / Tyler Durden
Charges Against Palisades Fire Arson Suspect Revised
Charges Against Palisades Fire Arson Suspect Revised
City News Service via The Epoch Times,
LOS ANGELES - The man accused of setting a blaze that grew into the deadly Palisades Fire, the most destructive fire in Los Angeles history, is facing one less criminal charge, with federal prosecutors obtaining a revised indictment in the case.
Jonathan Rinderknecht, 29, is posed after his arrest on charges that he intentionally ignited the Pacific Palisades fire in Los Angeles, before his first court appearance in Orlando, Fla., on Oct. 8, 2025. Department of Justice/Handout via...
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