Amazon has announced plans to invest $200 billion (£147.7b) in artificial intelligence (AI) and infrastructure, becoming the latest US tech giant to set out a sharp rise in spending. It dwarfs the $125bn Amazon spent on AI last year, and appeared to rattle investors. Shares were down nearly
Netflix beat Wall Street's revenue and earnings estimates for its holiday quarter on Tuesday but its shares tumbled more than 4 per cent in after-hours trading, as the streaming giant remains locked in a fierce bidding war for Warner Bros Discovery. The company reported results hours after amendi
There was a last-minute selloff in precious metals markets on Wednesday as investors cashed in some of the year's massive gains in gold, silver and platinum, while stocks quietly consolidated their best year since before the COVID pandemic. Most markets were on end-of-year autopilot after a roller
SpaceX is preparing to go public next year and has opened a secondary share sale that would value the company at $800 billion, according to a letter to shareholders sent by the company's CFO Bret Johnsen and reviewed by Reuters. The Elon Musk-led company's move towards a public listing, which coul
Stocks tiptoed forward at the start of Asian trading on Wednesday as the US Congress looked set to end the federal shutdown and traders looked for direction in the absence of clues from government data services. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1% in early tradin
Amazon's cloud revenue rose at the fastest clip in nearly three years, helping the company forecast quarterly sales above estimates and driving its shares up 14% in after-market trading. The company projected increased capital spending next year. The online retailer benefited as businesses contin
India is planning to allow direct foreign investment in state-run banks of up to 49 per cent, more than double current limits, according to a person directly involved in the policy discussions. The finance ministry has been discussing the matter with the Reserve Bank of India (RBI), the country's
As America's tech titans report earnings this week, one question looms large: is the artificial intelligence boom that has inflated valuations headed for the next big bubble? Microsoft (MSFT.O), Alphabet (GOOGL.O), Amazon (AMZN.O), and Meta (META.O) are poised to report that revenue rose at a bris
Several suppliers have cancelled sales of Middle Eastern and Canadian oil to China's Yulong Petrochemical after the UK imposed sanctions on the refiner, which is likely to push it to buy more Russian crude, multiple sources familiar with the deals said. The refiner, China's newest with a cap
United Airlines forecast stronger earnings in the current quarter on Wednesday as it expects rising travel demand and improved pricing power to produce the highest quarterly revenue in the company's history. The Chicago-based airline expects an adjusted profit in the range of $3.00 to $3.50 per sh
Chinese autonomous driving firm WeRide (WRD.O) has hired Morgan Stanley (MS.N), opens new tab and China International Capital Corp (CICC) (601995.SS) to work on a dual primary listing in Hong Kong, three sources with knowledge of the matter said. The Guangzhou-based company, which listed on Nasdaq
Alphabet shares closed more than 9 per cent higher on Wednesday after a US judge ruled against breaking up the Google parent, clearing a major regulatory overhang and adding about $210 billion to the company's market value. The ruling on Tuesday by Judge Amit Mehta allows Google to retain control
US shoppers looking for fake Christmas trees and holiday decor this year will have fewer choices and face higher prices as tariffs on Chinese imports force retailers to scale back orders as they assess how tight customer budgets are. A 90-day extension to a tariff reprieve - agreed to by Washingto
