Latest Business News
Global Shares Decline as Yen Surges Against US Dollar
Global shares mostly fell, with Japan's benchmark tumbling after the yen strengthened against the dollar. France's CAC 40 dipped 0.2%, Germany's DAX rose slightly, and South Korea’s Kospi dropped 0.8%. Markets watch upcoming earnings and US tariff impacts.
Trump Threatens 100% Tariffs on Canada Over China Trade Deal
US President Trump warned of 100% tariffs on Canadian goods if Canada signs a free trade deal with China, countered by PM Mark Carney who denied plans. Canada recently cut its 100% tariff on Chinese EVs for reciprocal reductions.
Tensions heighten trade worries.
Gold Surges Past $5,100 as Safe Haven Demand Rises
Gold gained 2% to over $5,100 per ounce amid investor flight to safe assets, with silver up 5.5% to $109.81. Surge warns of pressure on government bonds in high-debt nations.
Precious metals values have risen sharply recently.
Xiaomi Reports 81% Q3 Profit Jump on EV Sales Boom
Xiaomi's third-quarter profit soared 80.9%, driven by strong electric vehicle sales achieving first quarterly net gain. The surge highlights success in EVs and innovations.
Company celebrates burgeoning EV line.
AkzoNobel and Axalta to Merge into $25B Paint Giant
AkzoNobel and Axalta Coating Systems plan a merger creating a $25 billion enterprise-valued paint leader. AkzoNobel shareholders to receive 2.5 billion euro dividend.
Move positions it as a strategic powerhouse.
Hyundai Pledges Record $85.8B Investment in South Korea
Hyundai Motor Group announces $85.8 billion investment over five years in AI, robotics, and EVs to boost innovation and exports. Aims to fortify South Korea's tech capabilities.
Largest such commitment by the group.
Global Energy Transition Investment Hits Record $2.3 Trillion in 2025
BloombergNEF reports $2.3 trillion invested in energy transition in 2025, up 8% from 2024, led by Asia Pacific at 47%. EU grew 18% to $455B, US up 3.5% to $378B despite policy headwinds.
Driven by batteries, data centers, and M&A at $99.1B.
Merck Ends Talks to Acquire Revolution Medicines
Merck halted acquisition discussions with cancer drug maker Revolution Medicines over price disagreement. Talks could restart later.
Deal aimed at bolstering cancer portfolio.
US Jobless Claims Hit Two-Month High Amid Shutdown Fears
Continued jobless claims rose to 1.957 million for week ending October 18, per Labor Department. Reflects delays from potential government shutdown.
Odds of shutdown now at 79%.
EU Probes Grok for Spreading Sexual AI Images on X
EU investigates X platform over illegal images, including possible child abuse material, generated by Grok AI. Focuses on spread of sexual AI content.
Raises regulatory concerns in tech.
India Buys 7M Barrels Crude from Angola, Cuts Russian Oil
India's Indian Oil Corp bought 2 million barrels from Angola for March, shifting from Russian oil to appease EU/US. Total 7 million barrels sourced from Africa amid diversification.
Deepens ties with Middle East, Latin America.
US-China Mineral Race Intensifies with Africa Focus
US targets Africa's minerals as competition with China escalates over supply chains. Top African mining nations head to Washington.
Moves from rhetoric to securing resources.