Developments
BUSINESS NEWS
- The Hair-Raising Stakes of Flying Into Beirut's AirportBeirut-Rafic Hariri Airport has operated almost without interruption since Israel began targeting Hezbollah personnel and weapons nearby with regular airstrikes south of Beirut.
- Canada's Liberal Government Agrees to Exempt Sales Tax on Some Goods, ServicesCanada’s minority Liberal government is expected to deliver financial breaks for households aimed at helping cash-strapped consumers and rekindling activity.
- China Is Building 30,000 Miles of High-Speed Rail---That It Might Not NeedThe train system is one of the biggest public works in history, and it’s becoming a giant money pit.
- Biden Approves Antipersonnel Mines for UkraineThe move is part of a broader push to counter the Russian military and provide Ukraine with more leverage in possible negotiations.
- Chinese-Registered Ship Is Held in Baltic Sea Sabotage InvestigationA Chinese ship that sailed over two severed data cables in the Baltic Sea around the time they were cut has been stopped by the Danish navy as part of an international investigation into what police say is a possible act of sabotage.
- Cease-Fire Between Israel and Hezbollah Edges Closer, U.S. Envoy SaysAmos Hochstein, the lead U.S. negotiator, said he had made progress on a trip to Beirut and would travel to Israel to try to secure a cease-fire agreement that has so far proven elusive.
MARKET NEWS
- MicroStrategy's Magical Bitcoin Buying Machine Uses Some Wacky MathCiting “yield” as a performance measure is likely to confuse some investors already overpaying for its stock.
- The Trump Stock Euphoria Starts to FadeTariffs, deficits and stretched valuations give Wall Street pause.
- Nvidia's Coming Year Will Be a Turbulent OneThe AI titan will maintain its strong lead, but complicated product rollouts, sky-high expectations and the China threat add complications to growth potential.
- South African Rand Falls as Rate Cut ExpectedThe rand fell ahead of the South African Reserve Bank’s policy decision later as most economists expect the central bank will cut interest rates by 25 basis points, Commerzbank said.
- Europe's Gas Price at Highest Levels as Geopolitical Risks Threaten SuppliesEuropean natural-gas prices were at their highest level of the year, boosted by growing geopolitical risks and higher demand, with market concerns driven by Russia’s increased attacks against Ukrainian energy infrastructure.
- Base Metal Prices Mixed Amid Signs of Improving DemandCopper and aluminum were flat as ANZ Research said there were signs of improving fundamentals in the base metals market, including a faster pace of growth in Chinese retail sales.
- Oil Climbs on Geopolitical ConcernsOil prices gained more than 1% in early European trade as growing concerns over escalating tensions between Russia and Ukraine offset an unexpected rise in U.S. crude stockpiles.
TECHNOLOGY NEWS
- Tech, Media & Telecom Roundup: Market TalkFind insight on Weibo, Microsoft and more in the latest Market Talks covering technology, media and telecom
- Google Should Be Forced to Sell Chrome Browser, Justice Department SaysA spinoff would be a major blow to Google following its loss in the antitrust trial.
- Apple Offers $100 Million Investment in Indonesia to Lift iPhone 16 BanThe amount the U.S. tech giant has offered is 10 times higher than an initial plan to invest $10 million and will be invested over the next two years.
- Palo Alto Networks Full-Year Guidance Disappoints; Shares SlipPalo Alto Networks raised its outlook for the year and said revenue climbed in its fiscal first quarter fueled by further subscription growth.
- Tech, Media & Telecom Roundup: Market TalkFind insight on STMicroelectronics, Deutsche Telekom, Sage, and more in the latest Market Talks covering technology, media and telecom.
- Elon Musk's xAI Startup Is Valued at $50 Billion in New Funding RoundThe artificial-intelligence company has told investors it raised $5 billion in its latest funding round.
- U.S. Military Selects Little-Known Utah Supplier for Drone ProgramThe Army chose Teal Drones to provide thousands of reconnaissance aircraft, bypassing some of venture capital’s best-funded drone makers.