Deutsche Bank Warns of ‘Petroyuan’ Rise as Iran War Fuels Dollar Debate
Deutsche Bank flagged the potential rise of a “petroyuan” amid the Iran war, as analysts debate whether de-dollarization could accelerate despite continued dollar dominance.
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Kering Targets Profit Growth as It Unveils Gucci Turnaround Plan
By
Emma Clarke
Kering outlined an ambitious plan to revive Gucci and double profits, aiming to restore growth after a prolonged slowdown in its flagship brand.
EasyJet Shares Fall as Middle East Conflict and Fuel Costs Hit Booking Outlook
EasyJet stock declined after the airline warned that rising fuel costs and Middle East tensions are weighing on its bookings outlook.
Samsung SDS Shares Jump 20% After KKR Deal and $820 Million Bond Investment
Samsung SDS stock surged after KKR agreed to invest $820 million via convertible bonds, forming a strategic partnership focused on AI expansion.
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Luxury Stocks Slide as Iran War Hits Demand, Hermès Drops 14%
Luxury stocks declined sharply after weak earnings from Hermès and Kering, as the Iran war weighed on Middle East demand and tourism.
AMD, Qualcomm, Arm Back Wayve With New Funding to Accelerate Driverless AI
AMD, Qualcomm, and Arm have invested in autonomous driving startup Wayve, reinforcing growing demand for AI-powered vehicle technology.
Snap to Cut 16% of Workforce, Targeting $500 Million Savings Amid AI Push
By
Emma Clarke
Snap will lay off about 1,000 employees, or 16% of its workforce, as part of a cost-cutting plan tied to AI-driven efficiency and profitability goals.
Allbirds Stock Surges Over 900% After Pivot to AI Infrastructure Business
Allbirds shares skyrocketed after the struggling footwear brand announced a pivot to AI infrastructure, signaling a dramatic shift in its business model.
SEC Approves End of $25,000 Pattern Day Trader Rule
The SEC approved the removal of the $25,000 minimum requirement for pattern day traders, expanding access to active trading for retail investors.
Fed Nominee Kevin Warsh Discloses Crypto Investments Worth Over $100 Million
Federal Reserve nominee Kevin Warsh revealed over $100 million in assets, including stakes in crypto and tech ventures, raising questions about potential policy implications.
Novo Nordisk Partners With OpenAI to Accelerate AI-Driven Drug Discovery
By
Emma Clarke
Novo Nordisk has partnered with OpenAI to enhance its drug discovery efforts using advanced AI tools, aiming to accelerate identification of new treatments.
Amazon to Acquire Globalstar in $11.6 Billion Deal to Expand Leo Satellite Network
Amazon agreed to acquire Globalstar to strengthen its low Earth orbit satellite network and accelerate direct-to-device connectivity. The move intensifies competition with SpaceX’s Starlink.
Blue Origin Develops Technology to Extract Oxygen From Lunar Soil
By
Emma Clarke
Blue Origin has developed a system to extract oxygen from lunar soil, a breakthrough that could support future Moon bases. The technology also produces usable metals for construction.