This photograph taken on October 30, 2022, shows the logo of the Swiss pharmaceutical and drug maker Novartis on a building in Basel. Gabriel Monnet | Afp | Getty ImagesNovartis “can never be done” when it comes to major acquisitions in its sector as it always needs to look for the next “great asset,” CEO Vas Narasimhan told CNBC.In order to offset the hit from generics competition Novartis has been on a buying spree, acquiring more than 35 companies over the last year. The Swiss drugmaker announced its biggest deal in a decade on Sunday, when it announced it has…
Author: usaeverydaylife
U.S. President Donald Trump and China’s President Xi Jinping shake hands before their bilateral meeting during the G-20 leaders summit in Osaka, Japan on June 29, 2019.Kevin Lamarque | Reuters The mere prospect of a U.S.-China trade deal is enough to send markets higher.On Monday stateside, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite closed at record highs — with the broader market index breaking past the 6,800 level for the first time.And that’s before an agreement has been signed officially.”A lot of the forecasts for technology have been without the benefit of China, so once you can…
Guests enjoy the Fortune Global Forum 2025 Gala Dinner on October 26, 2025 at Diriyah Gate, Riyadh, Saudi Arabia.Cedric Ribeiro | Getty Images Entertainment | Getty ImagesMining executives have welcomed a sharp upswing in investor interest from the Middle East, as Gulf states seek to expand their critical mineral ambitions and take on established global players.Critical minerals refer to a subset of materials considered essential to the energy transition. These resources, which tend to have a high risk of supply chain disruption, include metals such as copper, lithium, nickel, cobalt and rare earth elements.”The interest in rare earths in this…
Cathie Wood, chief executive officer of Ark Investment Management LLC, during the Federal Reserve’s Payments Innovation Conference in Washington, DC, US, on Tuesday, Oct. 21, 2025. Aaron Schartz | Bloomberg | Getty ImagesARK Invest CEO Cathie Wood on Tuesday pushed back on fears of an artificial intelligence bubble, while flagging the possibility of a “reality check” on AI valuations.Speaking to CNBC’s Dan Murphy on the sidelines of Saudi Arabia’s Future Investment Initiative (FII) in Riyadh, Wood said that as interest rates begin to rise, “there will be a shudder” in markets.”We are going to reach a moment in the next…
LONDON — European stocks are expected to open flat to higher on Tuesday as global markets await the U.S. Federal Reserve’s interest rate decision.The U.K.’s FTSE index is seen opening a touch higher, Germany’s DAX and France’s CAC 40 0.2% lower and Italy’s FTSE MIB just below the flatline, according to data from IG.The big event for investors this week is the Fed’s two-day meeting, which begins on Tuesday. The market is now pricing in a 96% chance that the U.S. central bank will announce a 25 basis-point rate cut this week, according to the CME Fedwatch tool.Traders are also hoping for…
Stock photo of a nuclear power plant.Larry Lee Photography | Corbis | Getty ImagesGoogle and American electrical utility giant NextEra Energy announced a partnership Monday to revive Iowa’s only nuclear power plant to meet growing low-carbon energy demand from artificial intelligenceThe Duane Arnold Energy Center, which closed in 2020, could begin operating in early 2029, pending regulatory approval.”Once operational, Google will purchase power from the 615-MW plant as a 24/7 carbon-free energy source to help power Google’s growing cloud and AI infrastructure in Iowa, while also strengthening local grid reliability,” the companies said in a press release. The Central Iowa Power…
Foxconn Hon Hai Technology Group signage during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Thursday, March 20, 2025. David Paul Morris | Bloomberg | Getty ImagesTaiwan’s said its board of directors has approved an investment plan to procure equipment for an AI compute cluster and a supercomputing centre, which will allow it to spend up to NT$42 billion ($1.37 billion).The investment will be made from December 2025 to December 2026 using its own funds, the company said in a filing published late on Monday.Foxconn said the purpose of the plan is to “expand the cloud compute service…
The Federal Reserve is expected to lower borrowing costs again on Wednesday. Another quarter-point reduction, on the heels of September’s cut, would bring the federal funds rate to a range between 3.75%-4.00%.The federal funds rate, which is set by the Federal Open Market Committee, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay, the Fed’s moves do have a trickle-down effect on many types of consumer loans.The FOMC has also set expectations for another reduction in December, but after that, the path is unclear. President Donald Trump — who has…
Two HSBC bank logos are displayed on an office building in Mexico City, Mexico, July 25, 2025. Henry Romero | ReutersEurope’s largest lender HSBC on Tuesday beat third-quarter profit expectations as the bank’s net interest income rose while performance of its wealth segment was also robust.The bank’s profit before tax for the three months ended in September was $7.3 billion, down nearly 14% from a year ago due to higher operating expenses, namely from notable items, including legal provisions of $1.4 billion.Here are HSBC’s second-quarter 2025 results compared with consensus estimates compiled by the bank.Profit before tax: $7.3 billion vs.…
A worker debugs a robot at a Sany Heavy Industry plant in Changsha, central China’s Hunan Province, on Feb. 20, 2020.Chen Zeguo | Xinhua News Agency | Getty ImagesChina’s Sany Heavy Industry rose over 3% on its Hong Kong trading debut Tuesday after raising HK$12.36 billion ($1.59 billion) in one of the city’s largest listings this year.Shares were priced at HK$21.30 apiece. The listing adds to a pickup in Hong Kong equity fundraising, following recent sizable offerings such as Zijin Gold International’s $3.2 billion initial public offering on Sept. 30.Sany’s Shanghai-listed stock has gained over 35% so far this year.…
