Business Editor
Robert Kingsley reports on markets, corporate news, and economic trends for the Journal American. With an MBA from Wharton and 15 years covering Wall Street, he brings deep expertise in financial markets and corporate strategy. His reporting on mergers and market movements is followed by investors nationwide.
Elon Musk has revised his legal strategy in the high-stakes OpenAI lawsuit, proposing to waive all financial damages—potentially worth $134 billion—while seeking drastic corporate restructuring. The move aims to reframe the case around preserving OpenAI’s nonprofit mission amid allegations of miscon
Meta launched Muse Spark, its first AI model from the new Superintelligence Labs, claiming performance parity with top rivals like OpenAI and Google. However, the model is gated behind Meta’s own apps and APIs, raising questions about open innovation. The move follows a $14.3 billion investment in S
Edmunds’ 2023 analysis reveals Toyota and Honda dominate SUV resale rankings, with the RAV4 Hybrid retaining 81.4% of its value and the Sequoia at 80%. Data-driven insights help buyers mitigate depreciation risks.
JPMorgan Chase CEO Jamie Dimon warns that U.S. national debt exceeding $39 trillion and $1 trillion annual interest payments risks triggering a financial crisis. The nation faces a reckoning as bipartisan inaction leaves the debt-to-GDP ratio at 122%.
Global stock markets surged Wednesday after a two-week U.S.-Iran ceasefire reopened the Strait of Hormuz, sending oil prices below $95 per barrel. The S&P 500 jumped 2.5%, while Brent crude tumbled 13.3% to $94.75 amid cautious optimism over fragile geopolitical stability.
Southwest Airlines will allow only one portable charger per passenger starting April 20, stricter than ICAO’s two-charger guideline, as lithium battery fires on planes rise to 97 incidents reported by FAA in 2025.
SpaceX aims to raise $75 billion in a 2026 IPO valuing it at $1.75 trillion, while AI leaders OpenAI and Anthropic plan multibillion-dollar listings. These mega-IPOs could reshape private and public markets, but their impact hinges on investor appetite for unproven valuations.
Delta Air Lines is increasing checked baggage fees by $10-$50 starting Wednesday, citing soaring jet fuel costs linked to Middle East conflict. The move follows similar hikes by United and JetBlue, as airlines grapple with $400M+ in added fuel expenses.
Paramount Global’s stock surged 11% as Saudi, Qatar, and Abu Dhabi funds committed $24B to Warner Bros. Discovery merger. The $110B deal, backed by Oracle’s Larry Ellison, faces CFIUS scrutiny amid foreign ownership debates.
Oil prices surged past $117 per barrel Tuesday as President Trump’s 8 p.m. ET deadline for Iran to reopen the Strait of Hormuz approached, triggering a volatile trading session. Stocks initially plummeted over 1% before paring losses, with the S&P 500 and Nasdaq closing flat while the Dow dropped 85
Two years ago, Saudi Arabia quietly abandoned the 50-year-old petrodollar system by ending its exclusive oil trade in U.S. dollars. Now, as the U.S.-Israel war on Iran escalates, the cracks in the global dollar dominance are widening—and China’s petroyuan is emerging as the key alternative.
A New York Times analysis reveals Google's AI Overviews, powered by Gemini, delivers incorrect answers in 10% of cases. With over 8.5 billion daily searches, the 90% accuracy rate translates to tens of millions of errors per day.
Two years after George Floyd’s murder sparked a surge in donations to Black-led nonprofits, new research shows most gains were temporary. Only large organizations saw fleeting increases, while smaller groups—critical to underserved communities—were left behind.
OpenAI has formally asked California and Delaware attorneys general to investigate Elon Musk and Meta CEO Mark Zuckerberg for allegedly coordinating an ‘anti-competitive’ campaign to derail its mission. The letter cites opposition research, surveillance claims, and competitive maneuvers as evidence
Asia-Pacific stocks swung between gains and losses Tuesday as Trump warned Iran of civilian infrastructure strikes if a peace deal isn’t reached by 8 p.m. ET, threatening to close the Strait of Hormuz. Crude oil surged over 2% as investors braced for supply disruptions.
AI-powered telehealth startup Medvi, valued at over $1 billion, faces lawsuits and scrutiny for using allegedly fake doctors in ads. Founder Matthew Gallagher admits 30% of marketing came from affiliates, some posting AI-generated content. Regulators warn of deceptive practices as Medvi disputes all
An explosive New Yorker investigation reveals why OpenAI’s board fired Sam Altman in 2023, citing a 'consistent pattern' of lying about safety protocols, AI risks, and internal agreements. The report paints Altman as a polarizing figure whose untrustworthiness spanned decades, from failed startups t
A federal appeals court ruled New Jersey cannot regulate sports bets on prediction markets, siding with Kalshi and affirming CFTC exclusive jurisdiction. The 3-1 decision reshapes regulatory battles over event contracts, with broader implications for state vs. federal oversight of gambling.
On the same day OpenAI unveiled sweeping policy recommendations to guide AI toward a human-centric future, a bombshell New Yorker investigation cast doubt on CEO Sam Altman’s trustworthiness. The report, based on 100+ interviews and internal memos, paints Altman as a manipulative power-seeker whose
Amid growing concerns over AI’s economic impact, OpenAI has released a sweeping policy framework calling for robot taxes, public wealth funds, and a four-day workweek to address job displacement and inequality. The proposals arrive as policymakers debate AI’s future role in the economy.