Latest Business News
Markets Surge on AI Optimism as 2026 Begins
Equity markets started 2026 strongly, driven by AI advancements in China like DeepSeek's efficient training methods and Baidu's AI chip IPO plans. Asian markets hit fresh highs, with robust earnings growth and Fed easing anticipated to support gains.
Investors eye volatility but favor tactical buying on pullbacks.
Biren Technology GPU IPO Soars 76% on Debut
Biren Technology, Hong Kong's first GPU firm, jumped 76% on debut with over 2,300x retail oversubscription. Ten more IPOs, including AI firms Zhipu AI and MiniMax, target HK$26 billion in proceeds.
This fuels broader IPO market optimism.
Xiaomi Q3 Profit Jumps 81% on EV Sales Boom
Xiaomi reported an 80.9% third-quarter profit surge, driven by electric vehicle sales achieving first quarterly net gain. Innovative initiatives bolstered the strong performance.
EV line expansion marks key growth driver.
AkzoNobel and Axalta Merge into $25B Paint Giant
AkzoNobel (Dulux maker) and Axalta are merging to form a $25 billion enterprise. AkzoNobel shareholders receive 2.5 billion euro dividend.
Deal creates major coatings powerhouse.
Hyundai Pledges Record $85.8B Investment in South Korea
Hyundai Motor Group announced $85.8 billion investment over five years in AI, robotics, and EVs. Aims to boost innovation and exports.
Largest commitment fortifies national tech capabilities.
JPMorgan Predicts Slow US Economy Start, Later Improvement in 2026
JPMorgan forecasts 2026 US economy starting slow but improving later with tax cuts and interest-rate reductions. Labor markets rebound expected.
Positive factors include policy support.
Saks CEO Steps Down Amid Luxury Retail Debt Struggles
Saks Global CEO Marc Metrick resigned immediately as firm grapples with heavy debt. Operates Saks Fifth Avenue and Neiman Marcus.
Highlights challenges in luxury sector.
Tesla Loses Top EV Maker Spot as Sales Decline Second Year
Tesla no longer world's biggest EV seller due to falling sales amid politics backlash and competition. Second consecutive yearly drop.
Overseas rivals intensify pressure.
OPEC+ Maintains Steady Oil Production Through March
OPEC+ agreed to keep oil output steady amid global turmoil, led by Saudi Arabia and Russia. Plan holds through end of March.
Supports market stability efforts.
NEC Reports Strong 2025 Progress, Eyes 2026 Growth
NEC's operating profit margin hit nearly 10% in 2025 via transformations like cybersecurity and US acquisition. Focuses on AI, economic security globally.
Pivotal year ahead for social value creation.
Australia Inflation Data Key Amid Rate Hike Speculation
Upcoming Australian inflation readings follow October's high 3.8% YoY, sparking RBA hike talks. Shift to monthly data reveals persistent pressures.
Impacts 2026 monetary policy outlook.
US Jobless Claims Hit Two-Month High
Continued US jobless claims rose to 1.957 million for week ending October 18. Signals labor market softening.
Released amid broader economic watches.