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Walmart raises profit expectations as more Americans hunt deals in sluggish economy

NEW YORK (AP) - Walmart delivered another standout quarter, posting strong sales and profits that blew past Wall Street expectations as it wins over more cash-strapped Americans who have grown increasing anxious about the economy. With other retailers dialing back projections, the nation's largest retailer ...
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Prada heir Lorenzo Bertelli will have strategic role at Versace as executive chairman

MILAN (AP) - Prada heir Lorenzo Bertelli will have a major strategic role as executive chairman of Versace after the Prada Group completes its 1.25 billion-euro ($1.4 billion) deal to buy its rival, expected in the coming weeks, the Prada Group confirmed Thursday. Bertelli, 37, ...
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Private credit markets and stablecoins need close monitoring, G20 watchdog tells leaders

LONDON (Reuters) -The boom in private credit markets and stablecoins warrants close monitoring, the Group of 20's financial risk watchdog told leaders ahead of their summit in South Africa. In a letter to the G20 leaders published on Thursday, its Financial Stability Board Chair, Andrew ...
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Analysis-Scramble to sell Japan sounds fiscal warning bells

By Tom Westbrook and Junko Fujita SINGAPORE/TOKYO (Reuters) -Investors bailing out of the yen and Japan's government bonds have driven borrowing costs there to record highs, bending markets out of shape and piling pressure on the country's policymakers as they try to pilot the economy ...
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Warner Music and AI startup Udio settle copyright battle and ink license deal

LONDON (AP) - Warner Music Group resolved its copyright battle with Udio and signed a deal to work with the AI music startup on a new song creation service that will allow users to remix tunes by established artists. It's the second agreement between ...
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US stock futures jump as Nvidia results ease AI bubble concerns

By Shashwat Chauhan and Twesha Dikshit (Reuters) -U.S. stock index futures jumped on Thursday after Nvidia's stellar results quelled some concerns around an AI bubble, boosting technology stocks, while a long-awaited jobs report was also in focus. Nvidia surged 4.9% in premarket trading after the world's ...
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Greece’s Piraeus port not for sale, China tells US 

By Renee Maltezou ATHENS (Reuters) -China's controlling stake in the Greek port of Piraeus, one of the largest in Europe, is not for sale, the Chinese embassy in Greece said, denouncing comments by newly appointed U.S. ambassador to Greece Kimberly Ann Guilfoyle. China's state-run COSCO, ...
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Long-delayed jobs report to show hiring amid wobbly economy

(NEW YORK) -- A long-awaited jobs report to be released on Thursday will offer the latest look at the health of the labor market at a fraught moment for the U.S. economy.Hiring slowed sharply over the summer, before a government shutdown paused the release ...
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Exclusive-KKR aims to raise $15 billion in new Asia private equity fund, sources say

By Kane Wu (Reuters) -KKR has kicked off fundraising for its fifth Asia private equity fund, seeking to raise $15 billion in what would be one of the region's largest buyout fundraisings, three people with knowledge of the matter said. The global private equity firm started ...
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Global tech shares surge as Nvidia’s AI boom powers market rally

By Rashika Singh and Rae Wee (Reuters) -Global technology shares rallied on Thursday after Nvidia's blow-out quarterly results signalled that demand for artificial intelligence hardware remains strong even as analysts caution the boom may be outpacing fundamentals. The chip bellwether's stellar results tempered some concerns over ...
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Merck KGaA to draw on Valo’s drug discovery AI in potential $3 billion deal

By Ludwig Burger FRANKFURT (Reuters) -Germany's Merck KGaA on Thursday agreed to use Boston-based Valo Health's drug research services in a collaboration focused on Parkinson's and related diseases that is potentially worth over $3 billion to the U.S. company. The pact, which is focused on finding ...
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Morning Bid: Nvidia calms the horses, Fed bets evaporate

By Mike Dolan - What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets As has often been the case over the past two years, Nvidia's forecast-beating results have helped calm a tech sector nervous ...
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