Alphabet falls 13% in $500bn rout as AI mode dents search, revenue misses
Google's parent posted weaker-than-expected revenue and negative free cash flow, which it attributed partly to AI mode cannibalizing traditional search.
Ft · +7 outlets
DoorDash to acquire Instacart for $17 billion, consolidating US delivery market
The deal would unite DoorDash's restaurant delivery with Instacart's grocery partners, drawing criticism from NYC Mayor Mamdani over worker and consumer impact.
CNBC · +14 outlets
ECB holds key rate at 2.5% as Lagarde announces early exit in February
Lagarde will step down on Feb. 7, giving EU leaders a chance to pick a successor while pro-EU French President Macron is still in office.
Ft · +14 outlets
Fed holds rates at 3.75%-4%, two officials favored another hike
The FOMC paused despite elevated inflation, with two dissents favoring an increase, as markets weighed the implications for AI stocks and Treasuries.
Barchart.com · +14 outlets
Nasdaq 100 slides as Alphabet and Microsoft capex put AI spending under scrutiny
Both tech giants reported capital expenditures below estimates, adding to investor concern about the cost of the AI build-out.
CNBC · +13 outlets
Anthropic files for IPO, potentially the biggest ever, as CEO warns of AI risk
Investors must weigh AI growth potential against pitfalls the company itself calls existential, while Senator Warren probes safety and market risks.
Ft · +14 outlets
US economy grows 3.4% in third quarter but September inflation accelerates
AI investment and consumer spending fueled growth, while the PCE price index rose sharply, undercutting expectations that the Fed's pause will last.
CNBC · +12 outlets
Shell nearly doubles quarterly profit as refining margins hit record high
The oil major raised its buyback as geopolitical volatility and a refined products crunch drove energy profits to their highest since 2022.
CNBC · +14 outlets
Samsung posts record $80.5bn quarterly profit on AI chip demand
The company logged a fourth straight quarter of record profit and revenue, with chip supply expected to lag demand through 2027.
Fortune · +5 outlets
Volkswagen posts $6.8 billion quarterly loss on China slump, tariffs, Porsche write-down
The carmaker warned it cannot afford to lose time as it weighs up to 100,000 job cuts and four plant closures.
Fortune
ServiceNow shares plunge 25% on earnings, reviving AI disruption fears
The software maker's stock headed for its worst day ever after underwhelming third-quarter results.
CNBC · +5 outlets
Weil, Gotshal & Manges, longtime Wall Street law firm, plans wind down
The multinational firm, which has represented major corporations for nearly a century, is shutting down operations.
CNBC · +8 outlets
Eli Lilly hikes outlook as Zepbound and Mounjaro sales surge
The drugmaker said there is room for dramatic expansion of the obesity market after strong quarterly results.
CNBC · +13 outlets
Microsoft cloud strength drives earnings beat, offering respite on AI spending
Cloud growth and cash flow reassured investors anxious about the cost of the AI build-out.
Investing.com · +4 outlets
Kalshi valuation jumps to $40 billion in latest funding round
The prediction market platform was valued at $5 billion just one year ago.
CNBC · +9 outlets
Warren urges DOJ criminal probe of Bank of America over AML violations
The senator asked the Justice Department to disclose by Nov. 12 whether it has opened a criminal investigation.
CNBC · +6 outlets
Trump admin bars imports from Chinese 'biotech companies of concern' over forced labor
The trade actions precede an expected meeting between Xi Jinping and Donald Trump next month.
Fortune · +1 outlets
Caterpillar stock heads for worst day in 7 years, dragging on the Dow
The company's data-center business held up but other segments disappointed investors.
MarketWatch · +1 outlets