world
Samsung’s third-quarter profit more than doubles, beating estimates as chip recovery gathers pace
Samsung Electronics reported a rebound in earnings on Thursday, with operating profit more than doubling from the previous quarter. Source link
Asia-Pacific markets open mixed as Fed casts doubt on another rate cut in December
Federal Reserve Chair Jerome Powell indicated on Thursday that the central bank might not cut interest rates again in 2025. Source link
Meta CEO Mark Zuckerberg defends AI spending: 'We're seeing the returns'
Mark Zuckerberg is reminding investors that Meta needs to keep spending on artificial intelligence because of the risk of not investing enough. Source link
YouTube offers voluntary buyouts as company reorganizes around AI
In an internal memo to staff, YouTube CEO Neal Mohan said the platform is reorganizing its product teams for the first time in a decade. Source link
Microsoft takes $3.1 billion hit from OpenAI investment
Microsoft and OpenAI are key partners in cloud and artificial intelligence, but they’re increasingly becoming competitors as well. Source link
Microsoft reports earnings beat as Azure revenue climbs 40%
Microsoft’s cloud business has been growing faster than rival Amazon Web Services, as the company ramps up artificial intelligence investments. Source link
There were two Fed dissenters: Miran wanted a bigger cut and Schmid voted for no easing at all
Federal Reserve Governor Stephen Miran instead called for a half-point cut, while Kansas City Fed President Jeffrey Schmid voted for no decrease. Source link
10-year Treasury yield surges back above 4% after Powell says December rate cut far from certain
U.S. Treasury yields rose on Wednesday after the Federal Reserve cut interest rates for the second time this year. Source link
Fed cuts rates for the second time this year, will end balance sheet run-off in December
The Federal Reserve on Wednesday released its interest decision following a two-day meeting. Source link
Eli Lilly, Walmart to offer first retail pickup option for discounted vials of weight loss drug Zepbound
Starting in mid-November, cash-paying patients can purchase Zepbound vials at discounts of 50% or more through the retailer’s locations or via home delivery. Source link