Business - Wednesday, May 20, 2026

The Department of Justice has set up a $1.8 billion fund that will purportedly compensate victims of prosecutorial overreach under the Biden administration.

Ian Cheshire says media regulator must address perception it has been complacent and slow on online safety Ofcom’s incoming chair has vowed to take on the “tech bros”, as he conceded there was now a perception the regulator had been complacent and slow over concerns about online safety. Ian Cheshire, the former Channel 4 chair who has secured the job overseeing the technology and media regulator, also told MPs he had personal concerns about the impact of social media on under-16s. Continue reading...

The yuan’s continued strength is exerting pressure on Chinese exporters on a scale rarely seen in recent years, complicating Beijing’s efforts to manage the pace of currency gains.

The chip maker said its profit in its most recent quarter jumped 211 percent from a year earlier thanks to extreme demand from other big technology companies.

Before SpaceX's upcoming IPO sets an expected record, Alibaba, Facebook and Visa raised historic sums in the U.S.

Elon Musk’s rocket and satellite operations company, with extensive contracts with US, to go public next month SpaceX unveiled its plans to list publicly on the US stock market Wednesday, disclosing its investor prospectus and revealing details about its financials for the first time. Elon Musk ’s rocket and satellite operations company will go public on the Nasdaq exchange at a valuation of about $1.75tn under the symbol SPCX, likely on 12 June. It is seeking up to $80bn in investment. The company, which is the world’s most prominent rocket maker and which has extensive contracts with the US government, confidentially filed for an IPO last month. The filing allowed for a period of regulatory review before the details became public. Continue reading...

AvalonBay Communities Inc. and Equity Residential are nearing a deal that will see two of the biggest real estate investment trusts by value combine, people familiar with the matter said.

A mystical encounter 12 years ago led Scott Vincent Borba, a founder of E.L.F. Beauty, on a journey that will culminate this week, when he is ordained as a Roman Catholic priest.

Many analysts view company’s financial performance as a broader referendum on AI buildout Nvidia continued its years-long streak of beating Wall Street’s expectations for growth on Wednesday, reassuring most investors that the AI boom, particularly the global explosion of datacenters, will continue apace. “The buildout of AI factories – the largest infrastructure expansion in human history – is accelerating at extraordinary speed,” said Nvidia’s CEO, Jensen Huang, in a statement . “Agentic AI has arrived, doing productive work, generating real value, and scaling rapidly across companies and industries.” Continue reading...

CNBC's Jim Cramer said semiconductor and AI infrastructure stocks have replaced software as the market's technology leaders.