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Top story CVS to split off drugstore business, reversing $78 billion Aetna merger; shares fall 10%

The breakup dismantles the vertically integrated healthcare conglomerate CVS built after its 2018 Aetna acquisition.

full coverage →healthcarem&acvs
Stocks surge after Democrats sweep midterms; Dow jumps more than 1,000 points

Wall Street cheered divided government as analysts said gridlock reduces policy risk, even as Bloomberg noted such post-midterm gains have historically been weak.

full coverage →marketselectionsstocks
Federal Reserve raises interest rates for the first time since 2023

The hike ends a multi-year pause; traders had been weighing the midterm results against rate expectations.

full coverage →fedinterest-ratesmacroeconomy
Canva lays off more than 1,200 staff, 22% of workforce, in major reorganization

CEO Melanie Perkins called it the hardest moment in the design software company's 13-year history.

full coverage →layoffscanvatech
Kraft Heinz to divest North American coffee business in $650 million deal with One Rock

CEO Steve Cahillane is shedding the unit as he works to revive the packaged food giant.

full coverage →m&akraft-heinzconsumer
Disney plans several thousand layoffs, asks managers to cut costs by up to 20%

The cuts are the entertainment giant's latest round as it pushes cost reduction across divisions.

full coverage →layoffsdisneymedia
SpaceX signs multiyear deal with Qualcomm for Starlink Mobile network infrastructure

Qualcomm will supply base station technology as it expands beyond handsets into satellite-backed mobile service.

full coverage →spacexqualcommtelecom
Uber beats on revenue as mobility and delivery units miss estimates

The ride-hailing company cited higher overseas fuel costs and tighter driver supply for the unit misses.

full coverage →uberearningsgig-economy
Tesla and SpaceX shares drop about 5% as Musk's election bets backfire

Musk was the biggest funder of the effort to keep Texas red, which failed; the Financial Times estimated the midterms cost him over $60 billion.

full coverage →teslaspacexelections
AMD stock jumps 8% as quarterly results and guidance beat estimates

Analysts tracked several price target revisions after the chipmaker's Q3 beat.

full coverage →amdearningssemiconductors
Novo Nordisk shares jump as Wegovy pill sales beat estimates, drugmaker hikes outlook

The results strengthen Novo's position in the obesity and diabetes drug market.

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Euro zone inflation hits 4% for first time in three years as rate hike looms

Energy inflation above 20% in October drove the increase, reinforcing expectations of an ECB move.

full coverage →inflationeuro-zoneecb
Micron and chip stocks slip as midterm results strike at data-center optimism

Democratic wins in Texas and other states raised questions about the AI buildout, and dozens of local referendums restricted data center construction.

full coverage →aidata-centerssemiconductors
McDonald's earnings beat, but traffic to U.S. restaurants falls

The chain has leaned on discounts to attract budget-conscious diners over the past two years.

full coverage →mcdonaldsearningsrestaurants
Private companies added 86,000 jobs in October, slightly above expectations, ADP says

Separate BLS data showed job openings at 7.52 million in September, up 333,000 from August.

full coverage →jobslabor-marketmacroeconomy
Data centers take a hit at the ballot box as voters back construction limits

Dozens of referendums restricted data center construction, and Ohio added to its existing 125 moratoriums.

full coverage →data-centerselectionsai
China expands overseas mining stakes, tightening grip on critical minerals

Beijing is building state-backed vehicles to own more of the metals it depends on while keeping its processing edge; mining supply chains also face permitting and financing scrutiny.

full coverage →critical-mineralschinamining
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