Microsoft CFO says OpenAI investment will cut into profit this quarter

Eli Lilly's quarter was messy. What to do with the stock is more clear-cut

We're upgrading our rating on the drugmaker to a buy-equivalent 1.

Business - CNBC - 14 hours ago

UK Treasury chief Rachel Reeves unveils budget with 40 billion pounds in tax hikes, says she'll “invest, invest, invest”

World - ABC News - 20 hours ago

Mercedes-Benz and Porsche look for cost cuts after China slump hits profits

German carmakers exposed to Asian nation’s economic malaise after benefiting from its booming auto market

Business - Financial Times - 5 days ago

Reeves signals hike in National Insurance for firms

The chancellor was speaking at the government's International Investment Summit, where deals worth £63bn were hailed.

Elon Musk was not barred from UK investment summit, says cabinet minister

SpaceX owner would be invited in future if he had investment streams the UK could bid for, says Peter Kyle. Elon Musk would be welcome at future UK investment summits if and when he had investment ...

World - The Guardian - October 14

UK must show ‘swagger’ to attract spending, investment minister says

Keir Starmer ‘supports’ rather than ‘degrades’ businesses, Poppy Gustafsson tells FT

Business - Financial Times - October 15

Lithium Americas Says GM Boosts Investment in Lithium Project

Canada’s Lithium Americas said General Motors will boost investment in the miner’s Thacker Pass project, which produces the critical ingredient for electric-vehicle batteries.

Business - The Wall Street Journal - October 16

Efforts by Russia, Iran and China to sway US voters may escalate, new Microsoft report says

A new threat intelligence report from Microsoft says foreign adversaries have showed continued determination to influence the U.S. election and there are signs their activity will intensify as ...

Tech - ABC News - October 23

Chinese smartphone maker Oppo doubles down on AI, says in regular talks with Google and Microsoft

As Chinese smartphone company Oppo gears up for a flagship phone launch overseas, it says it has weekly AI talks with Google and Microsoft senior management.

Business - CNBC - 6 days ago

What Germany’s new naval base means for Baltic security

Also in this newsletter: the UK joins the EU in committing to the G7 loan to Ukraine

World - Financial Times - October 22

AI Boom Is Real---and Really Profitable---Says Chip Maker TSMC

The world’s largest contract chip maker says revenue from AI-related products is expected to triple this year.

Business - The Wall Street Journal - October 17

Morgan Stanley shares pop 7% after beating estimates for third-quarter profit and revenue

Morgan Stanley has several tail winds in its favor, from high stock values to a rebound in investment banking and strong trading activity.

Business - CNBC - October 16

Nvidia and Apple supplier TSMC shares pop after quarterly profit soars on AI demand

TSMC, the world’s largest producer of advanced chips, posted a 54% hike in third-quarter profit.

Business - CNBC - October 18

World’s largest sovereign wealth fund posts $76 billion in quarterly profit as interest rates fall

Norway's gigantic sovereign wealth fund on Tuesday reported third-quarter profit of 835 billion Norwegian kroner ($76.3 billion).

Business - CNBC - October 22

Deutsche Bank shares fall on doubling of third-quarter loan losses but profits rise

Deutsche Bank’s pre-tax profits were lifted by a reduction in the provisions it has set aside to settle litigation related to its Postbank acquisition

Business - MarketWatch - October 23

American Airlines lifts 2024 profit forecast after sales strategy shift, posts third-quarter loss

American Airlines raised its profit forecast for the year as CEO Robert Isom said the company's sales strategy shift earlier this year is paying off.

Business - CNBC - 6 days ago

BP shares fall to lowest since 2022 after sharp drop in the oil major's third-quarter profit

British oil major BP on Tuesday reported its weakest quarterly earnings in nearly four years, weighed down by a slump in crude prices.

Business - CNBC - Yesterday

Standard Chartered lifts income guidance again after beating third-quarter profit forecasts

The lender, which derives most of its revenue from Asia, saw pre-tax profit jump of 37% from the $1.32 billion posted a year ago.

Business - CNBC - 21 hours ago

Meta's third-quarter profit surges 35% reflecting strong ad revenue and its AI push

Meta Platforms Inc. has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence

Tech - ABC News - 9 hours ago

Oil giant Shell posts $6 billion profit beat, launches new share buyback program

British oil giant Shell on Thursday posted a small year-on-year drop in third-quarter profit as a sharp drop in crude prices was offset by higher gas sales.

Business - CNBC - 8 minutes ago

Children must not pay price of council cuts, commissioner says

Local government experts say councils made all the "easy cuts" years ago and still face shortfalls.

Would a Strong Job Market Stop Fed Rate Cuts? This Official Says No.

Mary C. Daly, the president of the Federal Reserve Bank of San Francisco, said that the central bank shouldn’t act “out of fear.”

Business - The New York Times - October 15

Top Trump economic adviser says big Fed rate cut was justified

Kevin Hassett is contender to replace Jay Powell as US central bank chair if Republican wins election

Business - Financial Times - October 18

Back-to-back rate cuts no indication of future ECB policy, governor says

Slovenian central bank chief Boštjan Vasle argues central bank needs flexibility to respond to signs of persistent inflation

World - Financial Times - October 20

Funding cuts could mean death of Sámi languages, say Indigenous parliaments

Sweden and Finland plan to withdraw funding to safeguard nine languages defined as threatened by Unesco. The Indigenous parliaments of Sweden, Finland and Norway have warned that some Sámi ...

World - The Guardian - October 21

How to Attract Holiday Shoppers? Target and Walmart Say: Price Cuts and Throwbacks

Big-box retailers are rolling out discounts ahead of the winter shopping season.

Business - Inc. - October 23

UK needs big emissions cut, climate watchdog says

The government's advisers say faster action is needed but the UK has the tools to achieve this.

European Central Bank cuts its main interest rate by a quarter-point to 3.25% as inflation falls below its target

World - ABC News - October 17

European Central Bank, seeing no signs of recession, cuts interest rates again

The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after ...