SpaceX briefly surpasses Amazon in market value
SpaceX's market capitalization ballooned to $2.6 trillion on Tuesday, briefly surpassing Amazon before settling. The milestone comes just days after the company's historic IPO on the Nasdaq on June 12, which made Elon Musk the world's first trillionaire. The company has announced plans to acquire AI coding startup Cursor for $60 billion in stock, signaling its expansion beyond aerospace into artificial intelligence.
Pizza Hut sold for $2.7 billion
Pizza Hut has been sold for $2.7 billion as the iconic pizza chain struggles to compete with modern delivery rivals. The sale reflects the broader shakeup in the food delivery industry, where companies like DoorDash and Uber Eats have reshaped consumer expectations. The new owners face the challenge of modernizing the brand's digital presence.
Consumer prices to stay elevated post-Iran war
Analysts warn that higher prices for gas, groceries, and flights will persist even after the US-Iran war ends. While oil prices dropped sharply on the tentative peace deal, the broader inflationary effects of the conflict have embedded themselves in supply chains and logistics. Stock markets rallied on the news of the Iran deal.