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Three Tankers Escape the Strait of Hormuz Before US Blockade Begins

Key Points: Three commercial ships successfully passed through the Strait of Hormuz just hours before the US Navy blockade started. The United States implemented strict naval restrictions around all Iranian coastal areas starting at 10 a.m. New York time. The impending blockade caused at least two other commercial vessels to abandon their journeys and turn back. The critical waterway handles roughly 20% of the global...

Meta Expected to Pass Google in Global Digital Ad Revenue by 2026

Key Points: Meta Platforms will likely surpass Google in global digital advertising revenue by the end of 2026. Market research firm eMarketer expects Meta to reach $243.46 billion in ad revenue, compared with Google's $239.54 billion. Meta's growth rate is accelerating to 24.1% this year, while Google remains steady at roughly 11.9%. The big three tech giants, Google, Meta, and Amazon, will control 62.3% of...

Slate Auto Raises $650 Million to Build Affordable Electric Pickup Trucks

Key Points: Electric vehicle startup Slate Auto secured $650 million in a new Series C funding round to build its first trucks. A basic Slate truck will cost roughly $25,000, making it one of the most affordable electric vehicles on the market. The company currently holds over 160,000 customer bookings and will build the vehicles at a factory in Indiana. Investment firm TWG Global led...