A Nvidia HGX H100 server at the Yotta Data Services Pvt. data center in Navi Mumbai, India, on Thursday, Mar. 14, 2024.Bloomberg | Bloomberg | Getty ImagesThis report is from this week’s CNBC’s “Inside India” newsletter, which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here.The big storyThere’s a gold rush underway in India’s nascent but fast-growing data center industry, with global giants, billionaires and even luxury property developers piling in.India’s current data center capacity is around 1.2 gigawatts — just a fraction of global capacity — but the market is set to more than double,…
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Check out the companies making the biggest moves premarket: Occidental Petroleum , Berkshire Hathaway — Occidental gained around 1% after Berkshire Hathaway announced it was buying the oil company’s petrochemical division, OxyChem, for nearly $10 billion in cash . Class B shares of Berkshire Hathaway slipped about 0.2%. Fair Isaac — The stock rallied 19% after the company unveiled a system that allows mortgage lenders direct access to FICO scores. Credit bureaus Transunion and Equifax shed 11% each. Curbline Properties — The real estate trust rose more than 2% after it authorized a share repurchase program of up to $250…
JPMorgan refreshed its list of favorite stocks after Wall Street wrapped up an unusually strong September. The S & P 500 added 3.5% last month, rising to record levels, boosted by a Federal Reserve rate cut and data that showed the U.S. economy remained resilient even in the face of some signs of slowing. September is historically the worst month for the benchmark, averaging a 0.7% loss, according to the Stock Trader’s Almanac. As October begins, JPMorgan’s top stocks could help investors build on the strong September performance. The bank’s analyst focus list, updated monthly, now includes names such as…
Treasury Secretary Scott Bessent told CNBC’s “Squawk Box” on Thursday that U.S. economic growth could be hurt by the government shutdown.”This isn’t the way to have a discussion, shutting down the government and lowering the GDP,” Bessent said during a live interview. “We could see a hit to the GDP, a hit to growth and a hit to working America.”The Cabinet official spoke on the second day of the government closure as the two warring sides in Washington, D.C. have yet to come to an agreement on a continuing resolution that would allow spending and operations to continue.This is breaking…
Russian President Vladimir Putin during a meeting on development of ‘new regions’, annexed from Ukraine, at the Kremlin, June 30, 2025, in Moscow, Russia. Contributor | Getty ImagesRussia is set to hike taxes on businesses and consumers as the government looks for ways to support military spending while its war-focused economy creaks at the seams.The Kremlin’s commitment to the ongoing war with Ukraine came under renewed scrutiny Monday when the finance ministry released its 2026 draft budget. The spending plans show defense spending next year would stay largely static, and would be funded with tax hikes amid increasingly dour growth…
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.CNBCWarren Buffett’s Berkshire Hathaway announced Thursday it reached a deal to buy Occidental Petroleum’s petrochemical unit, OxyChem, for $9.7 billion in cash.The deal marks Berkshire’s largest since 2022, when it paid $11.6 billion for insurer Alleghany. It also comes at a time in which the conglomerate is sitting on $344 billion in cash, a record for the company.Shares of Occidental rose 1.3% in premarket trading Thursday.Berkshire is already a major investor in Occidental, holding a 28.2% stake as of the end of June. Buffett…
Bitcoin could go “to the moon” in October, if the asset follows its historical price pattern for the month, according to Compass Point. The world’s oldest cryptocurrency notched gains in 10 of the last 12 Octobers since 2013, making it the strongest month for the asset in terms of seasonality. The digital asset’s historically strong performance in October has led bitcoiners to rechristen the month “Uptober.” “October’s strength is typically supported by September weakness, where seasonally softer September performance historically improves October’s [month-over-month] setup,” Compass Point analyst Ed Engel said Tuesday in a note to clients. Those seasonal tailwinds come…
The pharmaceutical industry has been making headlines recently, after the administration of U.S. President Donald Trump slapped 100% tariffs on branded and patented drugs But investors say drugmakers’ carve-out agreements on pricing is what will rattle the sector — and create a range of winners and losers as a result. Global pharmaceutical companies who have broken ground on U.S. manufacturing plants will likely escape Trump’s tariffs on certain drug imports that took effect Wednesday. But White House moves to peg the costs of U.S. medicines to global prices — the so-called Most Favored Nation initiative — pose a bigger long-term challenge, as…
Vlad Tenev, chief executive officer of Robinhood Markets Inc., during the Token2049 conference in Singapore, on Thursday, Oct. 2, 2025. Bloomberg | Bloomberg | Getty ImagesThe tokenization of real-world assets, from stocks to real estate, will spread to financial markets around the world, according to Robinhood Markets Chief Executive Officer Vlad Tenev. “Tokenization is like a freight train. It can’t be stopped, and eventually it’s going to eat the entire financial system,” Tenev told a panel at a crypto conference in Singapore on Wednesday. “I think most major markets will have some framework in the next five years,” he said, though he…
Federal Reserve Chair Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee at the Federal Reserve on September 17, 2025 in Washington, DC. Chip Somodevilla | Getty ImagesIf any doubts remained about whether the Federal Reserve will be lowering its key interest rate later this month, the budget loggerheads a few blocks away in the nation’s capital may have cemented the move.Particularly if the impasse stretches out past a few days, Chair Jerome Powell and his fellow central bankers likely will err on the side of caution, which in this case would…
