Apple shares have held up noticeably better than other major technology stocks in November, even as a broad rotation out of the sector pressures market leaders. While most of the Magnificent Seven have faced sharp declines, Apple has defied the sell-off so far. The iPhone maker has gained nearly 3%…
The private equity and big tech playbooks are converging on a singular strategy: replace expensive human workers with automation.This week, Vista Equity Partners and Meta sent unmistakable market signals that the AI-cost-cutting wave is shifting into higher gear.Vista told investors it will slash headcount by up to one-third, automating investor…
Merck & Co. has agreed to acquire biotechnology firm Cidara Therapeutics in a $9.2 billion deal, accelerating efforts to broaden its respiratory portfolio as it prepares for the loss of exclusivity on its blockbuster cancer drug Keytruda later this decade.Cidara’s shares more than doubled in premarket trading on Friday, jumping…
Applied Materials’ shares fell sharply in premarket trading on Friday, dropping more than 7%, after the chip equipment maker warned that stricter US export controls would curb spending in China next year.The caution overshadowed stronger-than-expected quarterly results and a more upbeat outlook for artificial-intelligence-related demand.The company posted adjusted earnings of…
Investors are pushing Argentina to relax its foreign-exchange regime, contending that a more flexible peso would be a big help in reigniting reserves and maintaining foreign investment. According to Reuters, the calls come even as top officials continue to reiterate that the band system in place will not be altered.President Javier Milei…
Gold prices slumped more than 3% on Friday as a December interest rate cut by the US Federal Reserve looks less likely. Silver prices on COMEX plunged over 5%, tracking losses in the yellow metal. Silver has gained sharply over the last few sessions, and had overshadowed gold’s rise.Oil prices on…
After months of punishing trade tensions, the US and Switzerland announced a breakthrough deal on Friday that will slash tariffs to 15% from the brutal 39% rate imposed in August.The agreement marks a stunning reversal for the Swiss economy, which saw exports to America collapse by 14% in the three…
Europe saw a flurry of political and economic developments this week, from a major US–Swiss trade breakthrough to the UK government’s surprise decision to shelve a planned income tax rise.The BBC found itself in hot water over a misleading edit of a Trump speech, prompting an apology but no payout.And…
The copper rally fizzled out quickly after the metal briefly soared past $11,000 per ton, as disappointing economic figures from China and the partial reopening of Indonesia’s key Grasberg mine cooled market enthusiasm and drove prices lower.The recent data on industrial output from China presents a mixed picture. While overall industrial…
President Donald Trump is preparing an executive order that will reduce tariffs on several widely consumed food imports, including beef, tomatoes, coffee and bananas, reported Bloomberg, citing a White House official familiar with the decision. The move comes as the administration faces increasing pressure from voters frustrated by persistently high…