BUSINESS
Microsoft drops most since 2020 amid slowing cloud growth
The shares sank by as much as 11% to $429.24, for the biggest intraday slide since March 2020
WORLD
US jobless claims tick down to 209,000 during holiday week
Initial claims edged down by 1,000 to 209,000 in the week ended Jan. 24, after an upward revision to the previous week, according to Labor Department data released Thursday.
INDIA
India’s Economic Survey flags age-based limits for social media
Australia recently instituted a nationwide ban on social media accounts for children under the age of 16.
BUSINESS
Dow to cut about 4,500 Jobs, using AI to boost operations
It sees $1.1 billion to $1.5 billion in one-time costs, including as much as $800 million in severance.
WORLD
US trade gap widens from smallest since 2009 as imports rise
The goods and services trade gap nearly doubled from the prior month to $56.8 billion, Commerce Department data showed Thursday
INDIA
Govt panel proposes cutting share of volatile food prices in inflation gauge
The new CPI series is expected to be released on February 12, according to the Economic Survey for fiscal year 2025-26
MARKETS
Nasdaq 100 gets hit as Microsoft sinks on results
More than 300 shares in the S&P 500 advanced, but the gauge lost steam as most megacaps retreated
BUSINESS
Zuckerberg, Musk vie for AI supremacy with $155 billion splurge
Investors should look forward to “a major AI acceleration” that’s been brewing within the tech industry for over a year, Meta CEO Mark Zuckerberg said on Wednesday’s earnings call.
BUSINESS
Tesla plots $20 billion splurge to support Elon Musk’s AI future
The moves underscore Tesla’s ambitions to reorient around AI, driverless technology and robots at the expense of its car business
WORLD
Mark Carney's party sees jump in popularity after his viral Davos speech
Mark Carney’s Liberals have opened up a clear polling lead after his Davos speech won international praise and boosted his domestic approval, fuelling fresh speculation about the party’s momentum ahead of any election.
WORLD
Musk says Tesla needs to build its own factory to make chips
Musk said that existing suppliers, naming TSMC, Samsung and Micron Technology Inc., are not able to supply Tesla at the levels the company needs.
BUDGET
Modi’s budget expected to boost spending, push reforms to counter Trump
India’s outlook is increasingly necessitating higher government spending, though any expansion is likely to be calibrated without undermining fiscal consolidation.
MARKETS
Bessent says US hasn’t intervened in yen, touts strong dollar
The US is 'absolutely not' intervening in the currency market to strengthen the yen, Bessent said in an interview
INDIA
India could order more homegrown reactors amid nuclear push
The government is considering seeking bids to build as many as 10 pressurized heavy water reactors with a capacity of 700 megawatts each — a third such bulk order
INDIA
India and Canada to anchor trade in energy, critical minerals
Canadian officials are liaising with international partners to create new frameworks for critical minerals trade, including to facilitate off-take agreements and strategic stockpiling
WORLD
S&P 500 rises above historic 7,000 with Fed, Big Tech earnings ahead
The S&P 500 Index rose 0.2% as of 9:48 a.m. in New York, with the benchmark surpassing the 7,000-point milestone for the first time
BUSINESS
Top importer explains why India is avoiding purchase of liquefied natural gas
India is potentially a massive market for LNG, but buyers there are price-sensitive and will opt for alternatives like coal or diesel if gas isn’t cheap enough
MARKETS
S&P 500 on brink of 7,000 in tech-powered rally
The upbeat mood in equity markets comes ahead of the Federal Reserve’s latest policy decision, with investors expecting interest rates to remain on hold
IPL
Rajasthan Royals gets $1.3 billion offer in test for IPL valuations
The sale of the Rajasthan Royals is being viewed as a crucial indicator of investor appetite for elite cricket assets
BUSINESS
ASML plans to cut 1,700 jobs after feedback that it's too complex
The reductions, amounting to about 4% of staff, will largely affect managerial positions in ASML’s IT and tech departments, CEO said.
BUSINESS
Asian currencies gain as dollar weakens before Fed
The Malaysian ringgit, Thai baht and the South Korean won all appreciated in early Asian trading after the Bloomberg Dollar Spot Index slid to its lowest since February 2022 during the US session.
BUSINESS
Are Uber drivers employees or contractors? Check what this Dutch court said
The individual circumstances of Uber drivers differ too much to determine whether they should all be classed as employees
WORLD
S&P 500 closes in on record as dollar rout deepens
Not even a slide in consumer confidence prevented a fifth day of gains for the S&P 500, which approached 7,000
WORLD
EU deploys first satellite service in bid to limit US dependence
The IRIS2 network will eventually have 290 satellites in multiple orbits.
