There is a lot of pressure on the meeting between President Biden and his Chinese counterpart Xi Jinping at the APEC summit in California today.
On Wednesday, U.S. equities inched higher as investors sought to ride the wave of optimism following Tuesday’s big surge on the basis of better-than-expected inflation statistics. 93 points were added to the Dow Jones Industrial Average during trading. The Nasdaq Composite and the S&P 500 both showed gains.
Weak consumer spending was backed up by purchases in high-frequency areas like food and cosmetics, and Target blew past profit predictions on Wednesday.
For the first time since March, and with interest rates at a 22-year high, Americans reduced their spending at brick-and-mortar stores in October. The Commerce Department said on Wednesday that retail sales, which are adjusted for seasonality but not inflation, decreased 0.1% in October from the previous month.
Reports that Amazon will sell things listed on Snap drove up the stock price by 8%.
YouTube has released updated rules for AI-based content. The online video platform has issued new guidelines for AI-enhanced videos as part of its preparation for a future where such material is widely produced.
Airbnb has reportedly paid close to $200 million to acquire a new AI business that has been keeping its operations under wraps. GamePlanner.AI, founded by the same people behind the AI assistant companies that Apple and Samsung bought, has been acquired by the online rental marketplace.
With this new partnership, Rivian will construct an EV manufacturing in the state of Georgia. The electric vehicle manufacturer has agreed to pay $300 million in property taxes to the state of Georgia in exchange for the use of land and manufacturing equipment.
The holidays are just around the corner, and that means Starbucks is gearing up to deliver free drinks for its Red Cup Day promotion. Before the busy holiday shopping season, the Starbucks workers’ union has called for walkouts at hundreds of outlets.
As European health care systems struggle to cope with a scarcity of the diabetic treatment Ozempic, manufactured by Novo Nordisk, Germany’s drug authority is mulling an export ban on the medication.
Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Groupon (GRPN), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)SNAP INC (SNAP), Exxon Mobil (XOM), Chevron (CVX), EBAY
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CWEB News Summarized Breaking, Business and Financial Newsletter for November 9, 2023
