Key Points Fed chair candidate Kevin Hassett said President Trump's opinion would have "no weight" in a vote on interest rates. Trump is demanding sharp rate cuts and believes his voice should influence the Fed's decisions. Trump's public pressure breaks...
Key Points Chinese demand for foreign luxury cars such as Porsche and Mercedes-Benz is declining. Buyers are opting for more affordable and tech-focused cars from Chinese brands. A weak economy, a property slump, and government subsidies for electric vehicles are driving the trend. Chinese automakers now control nearly 70% of the passenger car market. Sales for major European luxury brands in China have dropped significantly....
Key Points Broadcom's stock plunged 11% despite beating Wall Street estimates and raising its forecast. The sell-off hit the entire AI sector, including major players like Nvidia, AMD, and Oracle. Investors appear to be taking profits after a massive rally in AI-related stocks this year. Despite the drop, Broadcom's business is very strong, with AI chip sales up 74% and a huge order backlog. Broadcom...
Key Points The administrator of Google's bankrupt Russian unit has frozen about $129 million of Google's assets in France. The action is based on a Moscow court ruling that found Google made an illegal dividend payment. The freeze is currently temporary and must be formally recognized by a French court, which Google can challenge. Google's Russian business collapsed in 2022 after Russian authorities seized its...
Key Points SoftBank is considering buying data center operator Switch Inc. for around $50 billion. The move is part of...
Key Points SpaceX is reportedly considering an IPO that could value the company at over $1 trillion. The company is...
Key Points Foreign phone sales in China increased 13% year over year in October. Apple's iPhone is seen as the...
Key Points The Federal Reserve is expected to cut its key interest rate for the third time in a row...
Key Points Samsung SDI signed a $1.36 billion deal to supply batteries to an unnamed U.S. energy company. The deal...
Key Points Two-thirds of financial advisors are changing their retirement advice due to economic uncertainty. Advisors are increasingly concerned about...
Key Points Oil prices fell as concerns about too much supply overshadowed war-related risks. Russia is successfully selling its oil...
Key Points China's overall exports grew by 5.9% in November, beating expectations after a decline in October. Despite this growth,...
Key Points Ben & Jerry's board chair, Anuradha Mittal, is refusing to resign under pressure from Unilever. Unilever wants her...
Key Points National Storage REIT has agreed to an A$4 billion (2.65 billion) buyout. The buyers are a consortium led...
Key Points President Macron warned China that the EU may impose tariffs if the trade imbalance isn't fixed. He argues...
Key Points Bank of America warns that the year-end stock rally is at risk. The danger is a "dovish" Fed...
Key Points "Buy now, pay later" (BNPL) is booming, with shoppers expected to spend over $10 billion using it this...
Key Points Investor excitement over Alphabet's custom AI chips, known as TPUs, is driving its stock price higher. The big...
Key Points Chevron plans to spend between $18 billion and $19 billion in 2026, which is at the low end...
Key Points Copper prices rallied to a new record high, surpassing $11,400 a ton. The primary driver is fear of...
Key Points At least seven U.S. soybean shipments to China are underway or scheduled, marking a restart after a long...
Key Points Amazon's AWS will use Nvidia's high-speed NVLink technology in its future AI chips. The partnership aims to build...
Key Points U.S. shoppers spent a record $14.25 billion online on Cyber Monday. Total spending over the five-day "Cyber Week"...
Key Points Tesla's sales from its China factory grew 9.9% year over year in November. The sales jump was driven...
Key Points Seven state attorneys general are investigating six major Buy Now, Pay Later companies. They are concerned that the...
Key Points One in three European companies is looking to move its supply chain out of China. China's export controls...
Key Points Global arms sales reached a record $679 billion in 2024, a 5.9% increase. The wars in Ukraine and...
Key Points Total household card spending rose 2.4% in October, the fastest growth in nearly a year. Despite higher spending,...
Key Points Amazon and Flipkart are launching financial services in India to compete with banks. Amazon is targeting small businesses...
Key Points The head of the BIS is warning about financial stability risks posed by hedge funds. The main concern...
Key Points Oil prices are nearly flat, with Brent crude trading around $63 a barrel. The market is watching for...
Key Points The Pentagon identified Alibaba, Baidu, and BYD as military-linked entities. Defense officials sent the warning letter before the...
Key Points Retailers are creating massive amounts of content to train AI models. Some brands build "invisible" websites specifically for...
Key Points Xi Jinping raised the issue of Taiwan sovereignty in a call with Trump. Tensions are high after Japan's...
Key Points Gold prices stabilized near $4,130 after a 2% rally. Comments from Fed officials fueled hopes for a December...
Key Points Major tech firms like Google and Meta have sold nearly $90 billion in bonds over the past two...
