Business news

• Musk's xAI, SpaceX combo is the biggest merger of all time, valued at $1.25 trillion - The record-setting deal will be the largest merger of all time and is valued at $1.25 trillion
• Ray Dalio warns the world is ‘on the brink’ of a capital war - The billionaire Bridgewater founder also weighed in on investing in gold after the metal was gripped by a sharp sell-off.
• Disney names parks boss Josh D’Amaro as its next CEO to succeed Bob Iger, effective March 18 - Disney has named Josh D'Amaro, chairman of Disney Experiences, as its next CEO, succeeding Bob Iger and clinching a closely watched succession race at the Mouse House.
• Pfizer says obesity injection shows promise as monthly treatment in mid-stage trial - The data on Pfizer's GLP-1 offer early evidence that the injection can be administered less frequently than existing drugs without sacrificing efficacy.
• Pfizer beats quarterly estimates despite Covid product decline, reaffirms modest outlook - The pharmaceutical giant reaffirmed the modest 2026 outlook that rattled investors in December.
• Merck tops quarterly estimates, posts modest 2026 guidance as generic competition looms - Merck posted a modest 2026 outlook that fell short of estimates, as it prepares for some drugs to go off patent later this year and face generic competition.
• Trump refuses to be outdone by Europe, signing his own U.S.-India trade deal - The U.S. deal comes after global trading partners have been signing trade pacts, leaving America looking ostracized and more isolated.
• PepsiCo earnings beat estimates as drinks sales pick up around the world - PepsiCo reported fourth-quarter earnings and revenue that topped Wall Street's estimates.
• Palantir surges 10% after beating earnings estimates. Here's what's happening - The rise comes on the back of months of decline for the stock.
• Rare earth stocks jump after Trump launches $12 billion critical minerals stockpile - The moves come shortly after President Donald Trump announced the establishment of a U.S. critical mineral reserve.