A sell-off in the Nasdaq and several major tech firms continues to fuel investor concerns over A.I. valuations while hopes of an interest rate cut by the Fed’s December now only stand at 50 per cent. UK Chancellor Rachel Reeves is reportedly now set to scrap her manifesto-breaking plan to hike income tax after all as voter and party anger swells. Siemens Energy posts FY adjusted profit of 600 per cent and boosts its guidance with A.I. data centres continuing to drive energy demand. CEO Christian Bruch tells CNBC his company is well positioned to meet the needs.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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25:54
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25:54
Trump signs off on end to record U.S. government shutdown
President Trump signs a new Federal funding package to end the 43-day government shutdown – the longest in U.S. history. Trump has railed against the Democrats over the $1tn cost involved during the delay to passing the bill. In Europe, the Stoxx600 passes another milestone with benchmarks across the Continent rallying, including the FTSE 100 which nears the 10,000-mark. German engineering giant Siemens posts record net income for the third consecutive year but falls short of expectations with quarterly profits down and the firm set to slash its $39bn stake in Siemens Healthineers.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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28:34
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28:34
A.I. valuation fears persist following Burry warning
Market jitters over A.I. valuations persist. ‘Big Short’ investor Michael Burry says hyper-scalers are overstating their earnings while Japan’s Softbank sees its share price plunge following the sale of its stake in Nvidia. The company has pledged to double down on its OpenAI investment. Germany’s Infineon hikes the FY forecast for its A.I. data centre revenue despite Q4 earnings coming in below expectations. CFO Sven Schneider is confident the A.I. boom will continue to drive the company’s success. And in UK politics, a briefing war is raging with reports and counter-reports of a Labour leadership contest to oust Prime Minister Sir Keir Starmer just a fortnight before his Chancellor’s high-stakes budget.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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29:09
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29:09
Senate approves bill to end U.S. government shutdown
The U.S. Senate passes a bill that could re-open government within days and restore federal funding programs until the end of January. Markets have reacted positively to the news with the Nasdaq posting its best session since May. President Trump is mulling tariff relief for Switzerland with some reports suggesting levies could be slashed from 39 per cent to 15 per cent. And in tech news, Softbank posts a $19bn gain at its Vision Fund following investment into OpenAI.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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27:18
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27:18
U.S. Senate Makes Progress on Shutdown Deal, Novo Nordisk Loses Out to Pfizer
The U.S. Senate progressed a deal towards ending the longest U.S. Government shutdown in history. Eight democrats joined all but one republican in voting to move forward with a funding bill that will keep the U.S. Government liquid through January 30th, drawing rebuke from Democratic party leaders given the deal’s lack of guarantees on healthcare. Meanwhile, China will resume exports of Nexperia chips following a row with the Dutch government, potentially giving a boost to the autos industry which had been hit by the supply shock. In pharma news, the battle between Pfizer and Novo Nordisk for weight-loss biotech Metsera has ended, with the Danish conglomerate losing out in the $10 billion deal.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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