Business

GDS Holdings Ltd. may raise $500 million in a US IPO for its GDS International business unit. The Chinese data center operator is considering a listing as soon as this year.

Published on: February 11, 2025, 08:00 AM UTC

Swiss pharma giant Novartis to acquire Anthos Therapeutics for $3.1 billion to advance cardiovascular product.

Published on: February 11, 2025, 07:00 AM UTC

French luxury conglomerate Kering reports 12% decline in 4th quarter sales, driven by Gucci's weakness, with CEO Francois-Henri Pinault seeing signs of stabilization for gradual growth.

Published on: February 11, 2025, 07:00 AM UTC

Donald Trump's early actions as president reveal a mix of significant and trivial initiatives. His focus on tax cuts requires substantial budget savings, leading to cuts in foreign aid, consumer protection, and healthcare. Notably, he plans to eliminate the penny, saving only a small amount.

Published on: February 11, 2025, 06:02 AM UTC

US stocks rebounded on Monday as investors looked beyond President Trump's latest tariff threats. The Dow Jones Industrial Average (^DJI) rose nearly 0.4%, while the S&P 500 (^GSPC) gained roughly 0.6%, and the Nasdaq Composite (^IXIC) popped nearly 1%. Investors weighed Trump's recent pledge to introduce additional 25% tariffs on steel and aluminum from all countries.

Published on: February 11, 2025, 06:02 AM UTC

OpenAI CEO Sam Altman has rejected a $97.4 billion offer from a group of investors led by Elon Musk to buy the non-profit company. The offer came as Altman seeks to turn OpenAI into a for-profit business, a move that Musk is suing to prevent. Legal experts say that OpenAI is required to receive fair market value for its assets.

Published on: February 11, 2025, 06:02 AM UTC

Elon Musk’s plans to transform X into a digital payments platform could benefit from the Trump administration’s recent order to halt work at the Consumer Financial Protection Bureau (CFPB), which oversees such companies. Critics argue Musk may have a conflict of interest, as X would likely come under CFPB oversight.

Published on: February 11, 2025, 06:01 AM UTC

Chinese stocks are attracting global hedge funds due to DeepSeek's AI model, Beijing's policy easing, and the lighter-than-expected US tariff. The MSCI China index outperforms major markets, with Appaloosa LP raising stakes in Alibaba and JD.Com.

Published on: February 11, 2025, 06:00 AM UTC

US Steel shares surged 6% after President Trump announced tariffs on steel imports, potentially benefiting domestic producers like Nucor and Cleveland-Cliffs due to reduced foreign competition and increased pricing power.

Published on: February 11, 2025, 06:00 AM UTC

Elon Musk is helping dismantle the agency that would oversee his plans to transform X into a digital payments platform. The Consumer Financial Protection Bureau (CFPB) ensures that companies like large banks, mortgage lenders, student loan servicers, and online payment apps don't bilk their customers. Critics say that if the CFPB is mothballed, Musk may stand to personally benefit.

Published on: February 11, 2025, 02:01 AM UTC