Nestle gains 6% after consumer goods giant announces plans to slash 16,000 jobs
Nestle said Thursday it will cut 16,000 jobs as the firm’s new CEO Philipp Navratil looks to accelerate a turnaround at the consumer goods giant.
Chance of AI market correction is ‘pretty high,’ says ex-Meta exec Nick Clegg as he pushes back on superintelligence
The AI boom has resulted in “unbelievable, crazy valuations,” Clegg said.
European markets head for negative open as choppy week for stocks continues
European stocks are expected to open in negative territory on Thursday as regional markets continue to see-saw this week.
FCC moves to expel one of Hong Kong’s largest telco companies from U.S. networks
The U.S. has taken steps to block one of Hong Kong’s largest phone companies from accessing the country’s domestic telecom networks over national security concerns.
TSMC hits yet another record as profit surges 39%, beating estimates on AI chip demand surge
Taiwan Semiconductor Manufacturing Company reported a 39.1% increase in third-quarter profit, hitting a fresh record despite missing estimates.
Thirsty AI mega projects raise alarm in some of Europe’s driest regions
Europe is planning to at least triple its data center capacity as part of a push to become a world-class AI hub.
Trump says Modi assured him India will stop Russian oil purchases, but timeline unclear
Trump said Washington was unhappy with New Delhi’s purchases of Russian crude because it allowed Moscow to continue waging its “ridiculous war” in Ukraine.
Asia-Pacific markets rise, tracking Wall Street gains on strong bank earnings
Investors in Asia will look to Australia’s jobs data for September due out later in the day.
CNBC’s The China Connection newsletter: Beijing gears up for a big strategy meeting as tensions with Washington deepen
Beijing will discuss goals for tech and economic development at a five-year planning meeting next week.
HPE stock sinks 10% on weak guidance for fiscal 2026
Hewlett Packard Enterprise shares plunged in after-hours trading on Wednesday after the company issued disappointing guidance.