North America:

  • US regulators, specifically the Federal Trade Commission, have launched an antitrust investigation into Microsoft's software licensing and cloud computing practices, while Microsoft denies using customer data from its 365 applications for AI training, amidst a new partnership between Orange and OpenAI in Europe.
  • Tech stocks, including Dell and HP inc, faced declines after both companies reported disappointing earnings and issued pessimistic outlooks, contributing to a broader downturn in the technology sector.
  • Three major asset managers, BlackRock, Vanguard, and State Street, are facing lawsuits led by Texas for allegedly manipulating electricity prices by investing in coal mining and utility companies, with BlackRock also acquiring HPS Investment Partners for $12 billion.
  • The European Commission has concluded its investigations into tax advantages provided by Luxembourg and the Netherlands to Amazon, Starbucks, and Fiat, with Starbucks also achieving a record sales day in the US during its Red Cup Day promotion.
  • Amazon.com, Inc. Telefonica Germany and AWS are testing quantum technologies in mobile networks, Amazon has launched a new AI model named Olympus, the EU has concluded its tax probe into Amazon, Fiat, and Starbucks, and Poste Italiane is enhancing its e-commerce services through a strengthened partnership with Amazon.
  • Google has appealed a US court ruling on its app store monopoly and opened its first AI Campus in London, supported by the British Prime Minister, to foster AI and machine learning skills among students.
  • Uber Technologies is being investigated by the Federal Trade Commission for allegedly violating consumer protection laws.
  • The FDA has issued a complete response letter rejecting Applied Therapeutics' new drug application for govorestat, intended to treat classic galactosemia, potentially affecting the company's stock price.
  • The CEO of Coinbase Global and other insiders sold shares totaling approximately $14.5 million.

Europe and Asia:

  • Lindab International is implementing cost-cutting measures by reducing its workforce by 180 full-time positions, closing 10 sites, and targeting annual savings of 90 million SEK to enhance profitability, despite incurring 70 million SEK in engagement costs in Q4.
  • Eni, an Italian energy company, has expanded its presence in Côte d'Ivoire by acquiring four new offshore exploration blocks totaling 5,720 square kilometers and signing an agreement with the government to protect and restore forests.
  • Uniper, a state-owned energy company, has increased its earnings forecast for 2024 following the settlement of long-standing legal disputes, which allows for the release of related financial provisions.
  • Intesa Sanpaolo has dismissed the possibility of intervening in UniCredit's EUR 10.1 billion bid for Banco BPM, which is considering revising its offer for Anima Holding, while Moody's has affirmed UniCredit's ratings post-bid announcement.
  • AstraZeneca's breast cancer treatment, Enhertu, has been approved for reimbursement by China's state-run medical insurance, while its partner Hutchmed's drug Orpathys was renewed on China's drug reimbursement list.
  • The German Constitutional Court has upheld the constitutionality of the government's measures to redistribute excess profits from renewable energy producers to consumers as part of efforts to cap energy prices during the crisis.
  • Nokia has partnered with Dutch hosting services provider Cloudbear to implement advanced data center network infrastructure and also awarded Dr. Kimmo Koski the 2024 Nokia Foundation prize for his contributions to the LUMI supercomputer and Kajaani data center ecosystems.
  • Getlink has extended the suspension of its ElecLink interconnector operations, which runs through the undersea tunnel between France and Britain, until December 16 due to a technical issue.
  • BYD Company - Chinese shares, including those of BYD Co., fell due to trade war concerns and internal pressures such as a price war in the EV market, leading to demands for supplier price cuts and a minimal uptake in an employee stock ownership plan.
  • Meta Platforms, Inc. Australia has implemented a law prohibiting children under 16 from using social media platforms, which will be enforced through a trial of age-checking technology.
  • In October, sales of foreign-branded smartphones in China plummeted by 44% compared to the previous year, amid tensions as China criticized Trump's tariff threats, stating they would not resolve America's issues.
  • The Spanish government has approved Saudi Telecom's request to increase its voting rights in Telefónica.
  • In October, Toyota experienced a 0.8% increase in global sales, despite a 0.8% decrease in global production, continuing a nine-month trend of production declines.
  • Sumitomo Mitsui Financial Group, Inc. NTT UD REIT has set the interest rate for a 2 billion yen loan, while Nippon Denkai, a company in the copper foil industry, has filed for civil rehabilitation and is liquidating its loss-making US subsidiary, Denkai America, due to financial difficulties.
  • International Holding Co. is maintaining its outlook on investments in the Adani Group, despite Indian banks reviewing their exposure following U.S. indictments of founder Gautam Adani for an alleged $265 million bribery scheme.
  • Oversea-Chinese Banking Corporation (OCBC) is utilizing treasury shares to facilitate employee incentive schemes.
  • Constellation Software Inc. StoneCo has received several nonbinding offers for its software division Linx, although the bids are lower than the purchase price from 2020.
  • OpenAI has permitted its employees to sell shares worth $1.5 billion to SoftBank.
  • Shanghai REFIRE Group, a manufacturer of fuel cells, is initiating an IPO in Hong Kong to secure HK$796.6 million in funding.
  • DBS has partnered with Japan Financial Corporate to assist Japanese SMEs in expanding their operations across Asia.
  • Hon Hai Precision Industry Co., Ltd. Foxconn anticipates that the proposed US tariffs will have a minimal impact on its operations due to its extensive global presence.