Globe And Street: global business and finance news

CompaniesNov 12, 10:03 PM

Cisco lifts revenue outlook as AI networking demand supports sales

First-quarter revenue and adjusted profit topped analyst estimates, while Cisco raised its hyperscaler AI infrastructure revenue forecast to $9 billion.

IPO & DealsNov 12, 9:48 PM

New World Development considers HK$25 billion rights issue

The Hong Kong developer has reportedly appointed banks to prepare the potential fundraising, while trading in its shares has been suspended.

IPO & DealsNov 12, 8:48 PM

Kalshi in funding talks at $65 billion valuation for compute futures push

The fundraising discussions follow a $1 billion October round as the prediction market company seeks to expand beyond event contracts.

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Nov 12, 10:03 PMCompanies
Cisco lifts revenue outlook as AI networking demand supports sales
Nov 12, 9:48 PMIPO & Deals
New World Development considers HK$25 billion rights issue
Nov 12, 8:48 PMIPO & Deals
Kalshi in funding talks at $65 billion valuation for compute futures push
Nov 12, 8:18 PMCompanies
Cerebras lifts sales outlook and signs Microsoft cloud deal
Nov 12, 7:33 PMIPO & Deals
Samsung weighs acquisition of data center cooling supplier Modine
Nov 12, 7:03 PMIPO & Deals
Nscale updates IPO filing with revenue jump and wider expected loss
Nov 12, 6:18 PMEconomy & Policy
Johnson says support is building for tighter chip export limits on China
Nov 12, 5:48 PMMarkets
US Treasury bought yen in first such intervention since 1998
Nov 12, 5:03 PMIPO & Deals
Anthropic IPO orders reach about six times available shares, report says
Nov 12, 4:32 PMTech
Costco sees scope for India tech expansion beyond Hyderabad

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World

China, Uzbekistan and Kazakhstan agree to expand flight allowances

The agreements also permit services to Chengdu and Kashgar and increase flight limits on routes connecting Uzbekistan and Kazakhstan.

Nov 6, 2:49 PMAzerbaijan and Ukraine sign cooperation agreements spanning 14 sectors
Nov 6, 11:48 AMIran and Russia discuss gas pipelines, railway and regional security
Oct 31, 1:18 PMOIC anti-corruption officials seek closer cooperation on asset recovery
Oct 30, 1:18 PMTurkic leaders back closer transport links between Asia and Europe

Markets

US Treasury bought yen in first such intervention since 1998

The New York Fed said it acted for the Treasury, while the Federal Reserve conducted no independent currency intervention during the quarter.

Nov 11, 8:33 PMJapan renews currency warning as dollar approaches 160 yen
Nov 11, 6:33 PMTech gains lift global stocks as Nvidia drops after hours
Nov 10, 1:34 PMUS yields rise and stocks fall as inflation strengthens case for larger Fed hike
Nov 10, 8:33 AMGlobal stocks advance as oil retreats before US inflation data

Economy & Policy

Johnson says support is building for tighter chip export limits on China

Republicans want to add restrictions to an annual defense bill, while lawmakers are pushing four measures covering chip exports, tracking and remote access.

Nov 11, 10:05 PMBOJ's Asada cautions against near-term interest rate hike
Nov 11, 12:18 PMJapan advisers urge income and productivity gains beyond BOJ inflation goal
Nov 10, 6:19 PMJapan factory confidence reaches highest level since August 2021
Nov 9, 10:20 PMBOJ sees 1 trillion yen in extra annual ETF proceeds, minister says

Companies

Mercedes-Benz suspends investment at German sites as closures considered

Talks with employee representatives remain stalled as the carmaker seeks labor concessions and weighs the future of its German production sites.

Nov 12, 12:34 PMNebius lowers 2026 revenue outlook as capacity delays hit expansion
Nov 12, 9:19 AMNvidia names Colette Kress interim CEO as Jensen Huang resigns
Nov 12, 7:33 AMKia plans second Indian factory with about $2 billion in supplier-backed spending
Nov 11, 9:03 PMEmbracer beats second-quarter earnings estimates, keeps annual outlook

IPO & Deals

Samsung weighs acquisition of data center cooling supplier Modine

Modine shares rose 29% in extended trading after a media report on the discussions, which could still end without an agreement.

Nov 12, 7:03 PMNscale updates IPO filing with revenue jump and wider expected loss
Nov 12, 5:03 PMAnthropic IPO orders reach about six times available shares, report says
Nov 12, 1:18 PMCD&R, GTCR abandon Global Payments buyout talks
Nov 11, 7:48 PMAlibaba chip unit T-Head seeks Hong Kong listing

Energy & Commodities

Oil edges lower as rising output counters supply risks

Brent fell 0.4% and US crude slipped 0.43%, with both contracts heading for weekly losses despite recovering from earlier declines.

Nov 10, 10:34 PMUzbekistan wind and battery project nears full operation
Nov 10, 1:19 PMUS power consumption set for new records through 2027, EIA says
Nov 9, 3:03 PMSpaceX plans Texas power and computing complex with $24 billion initial investment
Nov 9, 2:18 PMPortugal petrol prices fall 9.5 cents as tax change limits relief

Crypto & Digital Assets

FSB urges Turkey to tighten crypto and stablecoin oversight

The watchdog called for dedicated stablecoin rules, better market data and stronger coordination with overseas regulators.

Nov 9, 10:04 AMPNC and Coinbase plan stablecoin payment pilot for business clients
Nov 6, 2:04 PMNubank and Mercado Pago restrict cryptocurrency transfers
Oct 29, 9:33 PMBinance investigates possible breach as frozen crypto reaches $2.54 billion
Oct 28, 6:03 PMCoinbase expands stablecoin lineup with Ripple's RLUSD

Finance

Deutsche Bank opens digital asset custody to paying clients

The lender also signed a memorandum of understanding with Deutsche Asset Management to explore cooperation on digital assets.

Nov 4, 1:03 PMSequoia to close London office and end Arc and Scouts programs
Nov 2, 9:19 PMAustralianSuper maintains AI focus on chips and data centers
Nov 2, 6:04 PMRevolut registered as New Zealand’s 27th bank
Oct 31, 8:48 AMApple Pay and Google Pay become available for Uzbekistan-issued cards

Tech

Costco sees scope for India tech expansion beyond Hyderabad

Its Hyderabad center has more than 70 employees and is expected to reach several hundred over five to six years, its technology chief said.

Nov 12, 1:49 PMMicrosoft 365, Outlook and Teams hit by outages in US
Nov 12, 12:05 PMSpaceX outlines AI campus investments exceeding $74 billion
Nov 11, 2:48 PMUnited Airlines plans AI bot restrictions, citing security risks
Nov 10, 2:49 PMOpenAI adds business profiles and customer chat agents to ChatGPT