Amazon shares jumped 13% after a third quarter beat, posting $1.95 EPS on $180.27 billion in revenue versus $1.57 and $177.8 billion expected. AWS revenue hit $33 billion, topping estimates and accelerating 20.2% versus the 18.1% analysts anticipated. CEO Andy Jassy said AWS is growing at a pace not seen...
Automakers are navigating steep tariffs and supply snags, yet quarterly results show surprising resilience. Moody’s pegs this year’s industry tariff tab at $30 billion, even as chip shortages and an aluminum plant fire strain Ford and Stellantis. GM earned $3.4 billion and Ford $2.6 billion, beating forecasts; Stellantis revenue rose...
With Halloween looming, the real fright is sticker shock: chocolate prices are up nearly 30% from last year and 78% over five years, pushing a 100-piece candy bag to $16.39 from $7.20 in 2020. Hershey and Mars raised prices about 22% and 12%, and Hershey warned of softer holiday sales...
Google, Meta, Microsoft and Amazon signaled no letup in AI outlays, lifting data center spending to meet surging demand. Google, Microsoft and Amazon together spent $112 billion on capex in the past three months; the foursome topped $360 billion over 12 months. Concerns about a budding bubble grew, and the...
At the APEC summit in Gyeongju, Chinese leader Xi Jinping pledged to defend global free trade and multilateral cooperation, urging stability in supply chains and collaboration on green industries. The two-day gathering was overshadowed by Xi’s earlier meeting with U.S. President Donald Trump, who left South Korea after announcing tariff...
Three billionaires—Nvidia's Jensen Huang, Samsung's Lee Jae-yong and Hyundai's Chung Eui-sun—stunned patrons at Seoul’s Kkanbu Chicken by paying for everyone’s meal, handing out snacks and toasting with beer and soju ahead of the APEC summit in Gyeongju. The next day, Huang met South Korea’s President Lee Jae Myung and said...
Apple’s iPhone generated $49.02 billion, narrowly missing the $49.33 billion Wall Street forecast. The stock fell 3% after the report before climbing 5% after hours. Executives said capex will rise in the holiday quarter to back expanding AI work, with CFO Kevan Parekh noting continued investment in the product roadmap....
Amazon cut 14,000 jobs this week, with CEO Andy Jassy saying the move was driven by culture rather than costs or AI. He outlined a push to raise performance standards, enforce discipline, and strip away layers that have slowed decisions as the company seeks to move faster amid an AI...
Asian equities edged toward record levels as upbeat results from Amazon and Apple rekindled risk appetite, nudging US equity futures higher after a brief lull in the global rally. MSCI’s regional gauge rose 0.4% and Japan gained 1%, while mainland China and Hong Kong slipped. Apple advanced in late trading...
Canva unveiled Affinity by Canva, a single app that merges Photo, Designer, and Publisher, free to use with a Canva account while generative AI tools live behind its $120 per year plans. Version 3 runs natively on Intel and Apple Silicon Macs and on x86 and Arm Windows, with an...
