Business

Wall Street tumbles as Intel plunge deepens AI spending fears Business

Wall Street tumbles as Intel plunge deepens AI spending fears

The Nasdaq fell 2.86% on October 30 as disappointing earnings and concerns about AI investment costs hit technology shares.

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Lagarde to leave ECB in February as Europe begins search for successor Business

Lagarde to leave ECB in February as Europe begins search for successor

Christine Lagarde will leave the ECB on February 7, 2027, and European leaders are starting the process to appoint her successor.

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Fed holds rates at 3.75%–4% as two officials seek an increase Business

Fed holds rates at 3.75%–4% as two officials seek an increase

The Federal Reserve voted 10–2 to keep rates unchanged on October 28, citing elevated inflation and awaiting further data.

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HSBC profit rises 32% as revenue miss weighs on shares Business

HSBC profit rises 32% as revenue miss weighs on shares

HSBC reported $9.6 billion in quarterly pretax profit and plans a buyback of up to $1 billion, but its shares fell after revenue missed expectations.

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Verizon raises forecasts and signs AWS infrastructure deal worth over $2 billion Business

Verizon raises forecasts and signs AWS infrastructure deal worth over $2 billion

Verizon lifted its annual outlook after strong subscriber growth and announced an AWS fiber agreement, although quarterly revenue missed estimates.

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Musk says SpaceX secured $40 billion in debt for AI chips Business

Musk says SpaceX secured $40 billion in debt for AI chips

Musk says SpaceX secured GPU financing, while Reuters reports that the meaning of closure and debt pricing remain unclear.

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Instacart explores possible sale after talks with DoorDash and Uber Business

Instacart explores possible sale after talks with DoorDash and Uber

Reports describe preliminary sale discussions at Instacart, while Bloomberg says Uber has walked away. No agreement has been announced.

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US business growth eases as price pressures intensify in October Business

US business growth eases as price pressures intensify in October

October’s flash PMI shows continued US expansion, with stronger orders and rising selling prices despite slower activity growth.

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Nasdaq falls 2.6% as AI spending fears shake global markets Business

Nasdaq falls 2.6% as AI spending fears shake global markets

Technology shares led an October 22 selloff as investors questioned AI investment costs, while most US stocks rose.

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Tesla profit falls as lower spending delivers positive cash flow Business

Tesla profit falls as lower spending delivers positive cash flow

Tesla reported $787 million in quarterly profit and $1.53 billion in free cash flow as spending fell short of expectations.

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Salesforce agrees to buy Braze for $5.66 billion to expand marketing business Business

Salesforce agrees to buy Braze for $5.66 billion to expand marketing business

The proposed cash acquisition offers $47.50 per Class A share and is expected to close in Salesforce’s fiscal 2028, subject to approvals.

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China growth accelerates to 4.5% as exports offset weak domestic demand Business

China growth accelerates to 4.5% as exports offset weak domestic demand

China reported 4.5% third-quarter growth, beating forecasts as exports supported output while consumption and property investment remained weak.

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