BUSINESS
Broadcom shares tumble after investors seek bigger AI payoff
The shares slid as much as 8.3% after markets opened in New York Friday, their biggest intraday drop since April 10
BUSINESS
Trump’s plan to push for cannabis rescheduling lifts pot stocks
Cannabis is currently labeled a Schedule I drug, putting it in the same category that includes substances like heroin and LSD, categorized as having no medical use and a high potential for abuse.
BUSINESS
BOJ is said to see hiking cycle likely extending beyond 0.75%
Even if BOJ officials update their estimate of the rate with the latest data, at this point they do not see the range drastically narrowing, according to the people. A narrower range suggests a central bank is closing in on the neutral rate.
BUSINESS
China set to deliver another lackluster economic report card
Numbers to be released by the National Bureau of Statistics Monday are expected to show retail sales rose 2.9% in November from a year before, the median forecast of economists surveyed by Bloomberg shows.
MARKETS
Asian stocks rise after global gauge hits new peak
MSCI Inc.’s index of Asian shares was up 0.9% on Friday, with all its sector sub-indexes advancing. Japan’s Topix led regional gains as shares of SoftBank Group Corp. jumped more than 6%.
SPORTS
Microsoft CEO Nadella is making a cricket app in his free time
The app will come in handy for Nadella, who has been investing in cricket teams.
BUSINESS
Dip Buyers Push S&P 500 to Record High as Oracle Shares Slide
An equal-weighted version of the S&P 500 rose 0.8%. The blue-chip Dow Jones Industrial Average gained 1.3%, posting its best day since January relative to the S&P 500.
BUSINESS
SpaceX $1.5 trillion value target hinges on Starlink — and Elon
SpaceX is planning an initial public offering that may be the world’s biggest ever.
BUSINESS
Oracle slides by most since January on mounting AI spending
Oracle’s stock had already lost about a third of its value through Wednesday’s close since a record high on Sept. 10. Meanwhile, a measure of Oracle’s credit risk reached a fresh 16-year high.
WORLD
Zelenskiy floats referendum over territory as US pressure mounts
Zelenskiy has engaged in talks over the latest peace proposal from President Donald Trump’s administration, but has maintained his position that Ukraine won’t consider surrendering territory to the Kremlin.
BUSINESS
EU nears Russian asset freeze deal to ease Ukraine loan
Moscow would retain a legal claim on the assets, however, which has left Belgium anxious that it could face repercussions.
BUSINESS
US trade deficit unexpectedly shrinks to smallest since 2020
The value of US exports rose 3% to the second-highest level on record, fueled by non-monetary gold and pharmaceutical preparations.
BUSINESS
Disney invests $1 billion in OpenAI, strikes licensing deal
Disney will become a major customer of OpenAI, using its tools to build new products and experiences and deploying ChatGPT for its employees.
BUSINESS
US jobless claims jump by most since 2020 after holiday drop
Initial claims increased by 44,000 to 236,000 in the week ended Dec. 6, according to Labor Department data released Thursday.
BUSINESS
BlackRock’s crew of quant PhDs are on track for a record year
Over the past two years, their 200-person unit, known as systematic investing, has raked in at least $40 billion of new money.
BUSINESS
Companies are just now tallying up the impact of the US shutdown
Markets also had to wait for the end of the impasse. UBS Group AG flagged the shutdown as a “potential headwind” for initial public offerings.
BUSINESS
FDA approves first home-use headset to treat depression in US
Called FL-100, it weighs less than a pair of over-the-ear headphones and the company said thursday it will be available in the second half of 2026.
BUSINESS
RBI buys $5.5 billion of bonds at first auction since May
The purchase is part of RBI’s plan to inject Rs 1 lakh crore worth of liquidity via bond purchase and $5 billion equivalent via a foreign exchange swap this month
BUSINESS
IEA trims forecast of record oil glut for first time since May
World supplies will exceed demand by 3.815 million barrels a day in 2026, which would still mark a record, but trims last month’s estimate by 231,000 barrels a day.
WORLD
Netflix vs Paramount: Warner Bros. merger fight draws fire across US political divide
President Trump added drama on Wednesday when he said that any deal for Warner Bros. should include the sale of its CNN cable news network
CRYPTOCURRENCY
Bitcoin dips below $90,000 after Fed Cut widens stocks split
The original cryptocurrency fell as much as 3.2% to briefly dip below $90,000 on Thursday, down from an intra-day high of $94,490 the day before, according to data compiled by Bloomberg.
INDIA
India's $175 billion pension industry resists new bond valuation rules
The issue is how pension asset managers value government securities in their funds, which are currently accounted for at the latest market price
BUSINESS
JPMorgan set to open first new India branch in nearly a decade
The lender has gotten an in-principle approval from the Reserve Bank of India to establish its fourth branch in Pune
BUSINESS
India lets $177 billion of pensions access far more assets
The move is expected to improve diversification and liquidity across portfolios as assets under management surge.
