Business news
- SoftBank’s Son ‘was crying’ about the firm's need to sell its Nvidia stake - SoftBank Group founder Masayoshi Son has downplayed his firm's decision to dump its Nvidia position, saying he "was crying" to sell the shares.
- AI stock rally may be driven by fear of missing out, but strategists say hold tight - The European Central Bank on Wednesday warned of high valuations and increased concentration of global stocks.
- A 'seismic' Nvidia shift, AI chip shortages and how it's threatening to hike gadget prices - The AI infrastructure buildout is creating shortages of components including various types of chips that are also used in consumer electronics.
- Tesla CEO Elon Musk bats for H-1B visa, says tariffs distort markets - Tesla CEO raises concerns over Trump's tariff policy and says he does not support closing of the H-1B visa program.
- Samsung launches its first multi-folding phone as competition from Chinese brands intensifies - Samsung Electronics has announced the launch of its first multi-folding smartphone, as it faces growing pressure to keep up with innovations from competitors.
- South Korea auto stocks rise after U.S. Commerce Secretary confirms tariffs lowered to 15% - Overnight, bitcoin plunged around 6% to trade below $86,000, marking its worst day since March and pressuring the broader stock market down.
- Costco sues for Trump tariff refunds before Supreme Court rules on if they're illegal - Costco joins dozens of other companies that are seeking to protect their rights to refunds of Trump's tariffs without first waiting for the Supreme Court.
- Apple names former Microsoft, Google exec to succeed retiring AI chief - Apple's AI chief is stepping down after experts say the company has fallen behind its peers when it comes to investing in AI data centers, chips and models.
- Kalshi makes move to court crypto traders with tokenized betting contracts - Tokenization refers to creating a digital version of a real-world financial asset such as a stock, bond or treasury note.
- Shopify outage: Shopping platform goes down for some users during Cyber Monday - Select merchants were unable to log in to Shopify, while others couldn't access their point-of-sale systems, the company said.