Business news
- Altman and Musk launched OpenAI as a nonprofit 10 years ago. Now they’re rivals in a trillion-dollar market - As OpenAI turns 10, the former nonprofit AI lab is at the center of a roughly $1.4 trillion bet on AI infrastructure.
- UK economy unexpectedly shrunk before Budget - The U.K. economy unexpectedly contracted in the three months to October, according to official figures released Friday.
- Asia-Pacific markets trade higher after Wall Street notches fresh record - Asia-Pacific markets traded higher on Friday, tracking Wall Street gains.
- Reddit challenges Australia’s under-16 social media ban in High Court filing, says law curbs political speech - Reddit filed a legal challenge seeking to either declare the law invalid, or exclude the platform from the provisions of the law
- Thailand dissolves parliament, heightening political turmoil as Trump seeks to salvage ceasefire with Cambodia - The escalation broke the ceasefire brokered in July by Trump who threatened to halt trade talks with the two countries unless they ended the fight.
- Trump scared Europe with his national security strategy. That's no bad thing, ex-CIA chief says - Former CIA Director General Petraeus told CNBC it was good that European nations had received a wake-up call to look after their future defense and security.
- CNBC's Inside India newsletter: India's $3.3 trillion opportunity for global fund houses - Indian retail investor-driven mutual fund assets are expected to touch $3.3 trillion by 2035, according to a Bain & Company report.
- Lululemon CEO Calvin McDonald to depart in January as retailer struggles to compete, woo shoppers - Lululemon's CEO Calvin McDonald will leave the athleisure retailer at the end of January as sales in its largest market sag and consumers flee to competitors.
- Costco's quarterly beat isn't enough to knock out the bears — here's what could - The quarter looked pretty down the fairway, with beats across key line items — the membership renewal rate.
- Oracle's lease commitments jump by almost 150% as company builds out to meet AI demand - Oracle's lease commitments now total $248 billion, with $10 billion tied to cloud capacity.