Business
Berkshire cash sets record as profit rises, signaling caution ahead of Warren Buffett exit
For a 12th straight quarter, Buffett's conglomerate sold more stocks than it bought for its $283.2 billion equity portfolio, whose holdings include Apple and American Express. Berkshire also did not repurchase any of its own stock, the fifth straight quarter without buybacks, though its stock price has significantly lagged the broader market.
US to announce that Dutch chipmaker Nexperia's Chinese facilities will resume shipments
The White House is set to announce that Dutch chipmaker Nexperia's facilities in China will resume shipments. This development offers a significant boost to global auto manufacturers. The Dutch government recently took control of Nexperia, which is owned by Chinese company Wingtech. This move had previously led Beijing to block Nexperia products from leaving China, impacting supply chains.
Pfizer sues Metsera, Novo Nordisk over rival obesity drug bid
Pfizer sued Metsera and Novo Nordisk, alleging Metsera breached its merger agreement by deeming Novo's $8.5 billion bid superior. Pfizer seeks to block Metsera's termination and ensure its own deal proceeds, having received early antitrust clearance. The legal battle highlights a competition for Metsera's promising obesity drug pipeline.
Nvidia uncertain if return to China is closer after Trump-Xi meeting
Nvidia CEO Jensen Huang expressed uncertainty about resuming advanced chip sales in China following the Trump-Xi meeting. Despite discussions on semiconductors, the U.S. government's role as "referee" and China's market closure have left Nvidia's business in China at zero. Huang hopes for new policies to re-enter the Chinese market amid soaring AI demand.
Jensen Huang's chicken & chips: The hot new favourite of Korean investors
Jensen Huang, CEO of Nvidia, recently shared a laid-back lunch in Seoul alongside leaders from Samsung and Hyundai, and the reaction has been electric. The candid snapshots from their meeting rapidly went viral, resulting in a surge in the stocks of all three powerhouse firms.
Disney pulls ABC, ESPN and more from YouTube TV as talks break down
Google's pay TV platform said in a blog post late Thursday that Disney had followed through on a threat to suspend its content amid the negotiations. The breakdown could impact coverage of some college football games on Saturday, as well as NBA, NFL and NHL games.
upGrad turns EBITDA positive in FY25, AI-led expansion fuels global growth
Skilling major upGrad achieved EBITDA profitability in FY25, reporting INR 15 crore profit driven by steady revenue growth and operating efficiencies. The company's gross revenue reached INR 1,943 crore, with a significant reduction in losses and improved PAT, underscoring a renewed focus on profitability and long-term value creation.
Ford to recall about 79,800 vehicles in US for door panel, lightbar defects, NHTSA says
Ford is recalling almost 80,000 vehicles in the United States. These vehicles face risks of interior panels detaching near the front doors and rear lights failing. Additionally, nearly 34,500 re-manufactured transmissions are part of a separate recall. This brings Ford's total recalls this week close to half a million vehicles.
Samsung Electronics in 'close discussion' with Nvidia to supply next-generation HBM4 chips
Samsung is in talks with Nvidia for its new HBM4 chips. This is a crucial step in the AI chip race. Samsung aims to market these chips next year. Its rival SK Hynix plans to ship its HBM4 chips in the fourth quarter. Nvidia confirmed key supply collaborations for HBM3E and HBM4 with Samsung and other Korean firms.
Toyota Motor does not face immediate chip shortage from Nexperia, CEO says
Toyota's top executive Koji Sato assured that immediate chip shortages are not a concern despite Chinese export restrictions. The automaker is closely watching potential production risks. Meanwhile, Nissan has enough chips for now. Separately, Toyota plans to proceed with a buyout of Toyota Industries, considering shareholder interests and transparency.
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Hyundai Motor vice chairman highlights green hydrogen in energy transition at APEC CEO summit
South Korea's Hyundai Motor Group is set to lead in green hydrogen technology. Hydrogen is crucial for the global energy shift. Hyundai plans advanced green hydrogen production by 2029. The company is also expanding its hydrogen infrastructure and vehicle use. Hyundai believes collaboration is key to building a hydrogen ecosystem.
ESPN, ABC, other Disney networks go dark on YouTube TV after failed talks
Disney's networks, including ESPN and ABC, are no longer available on YouTube TV after the companies failed to agree on new licensing terms. YouTube TV stated it would not accept terms that disadvantage its members while benefiting Disney's own TV products. Disney, in response, accused Google of using market dominance to eliminate competition and undercut industry standards.
Trump pushes for a US-led digital economy that’s free of tariffs
President Trump's trade deals with Asian nations secure assurances against digital services taxes and discrimination against US e-commerce providers. This push aims to maintain America's services surplus by keeping digital trade free of tariffs, contrasting with prior administrations' concerns. The move highlights a global battleground for influence in the rapidly growing digital economy.
Sales of 'services' help Apple beat earnings forecasts
Apple reported a record September quarter revenue of $102.5 billion, driven by strong iPhone and services performance. Despite tariff impacts and a slight dip in China, the company exceeded market expectations. CEO Tim Cook highlighted all-time revenue records for iPhone and services globally, anticipating a strong current quarter fueled by AI advancements and new product launches.
Netflix taps bank to explore bid for Warner Bros Discovery
Netflix is looking to buy Warner Bros Discovery's studio and streaming operations. The company has hired a financial advisor to assess a potential offer. This move could give Netflix control over popular franchises like Harry Potter and DC Comics. Warner Bros Discovery is also considering other acquisition options. Netflix has stated it is not interested in cable networks like CNN.
China says it will work with US to resolve issues related to TikTok
President Trump and China's Xi Jinping met to ease trade tensions. Decisions were made to reduce trade friction. However, no agreement was reached on TikTok's ownership. China stated it would work with the US on TikTok issues. Uncertainty remains for the popular video platform in America. Previous attempts to sell TikTok failed.