Apple Joins Nvidia in the $5 Trillion Valuation Club
To power the iPhone maker's next phase, Chief Executive John Ternus needs to raise its AI game.
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OpenAI Alleges Ex-Employee Took Confidential Files to Apple
The files included detailed images of an unreleased device, a new legal filing claims.
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Netflix Eliminates About 1,000 Jobs in Biggest Cuts Since 2022
The job cuts affect 6% of its staff and come as the company struggles with slowing growth.
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Bank of America Settlement Charge Hits Profit, Morgan Stanley Profit Climbs
Bank of America reported a lower third-quarter profit, mostly tied to a regulatory settlement charge, while Morgan Stanley's overall profit and revenue climbed.
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OpenAI Computing Chief to Depart
OpenAI's infrastructure unit has had a series of leadership changes as the company's pace of investment increases.
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Saudi Airlines Rush to Save Scores of Planes From a War Zone
Deadly Houthi missile strikes have airlines racing to move billions worth of planes to safety.
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Germany's Lufthansa Beats Air France-KLM to Take $1.3 Billion Stake in Portugal's Flag Carrier
Deutsche Lufthansa won a bid to take a 49.9% stake in Portuguese airline TAP, bringing to a close a contest between Lufthansa and Air France-KLM for the acquisition of the stake.
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Berkshire Hathaway Builds 4% Stake in Bending Spoons
The Milan-based company said Berkshire made a fresh investment of $330 million after plowing $600 million into its July IPO.
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ASML Boosts Guidance for Third Time On Surging AI Demand
The revision to forecasts shows how much ASML's fortunes have come to benefit from the buildout of data centers that turned chips into a red-hot commodity.
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Fairfax Financial Buying Majority Stake in India's IDBI Bank
Canada's Fairfax Financial is positioning itself in India's fast-growing financial services industry with the acquisition of a majority stake in IDBI Bank for about $5.43 billion.
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Debanking Probe Finds JPMorgan, Banks Cut Off MAGA Sellers and Democrat Groups
An investigation by a Trump regulator detailed examples of businesses and individuals getting shut out by the nation's biggest banks.
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American Electric Power to Invest $4 Billion in Fuel Cell Project
American Electric Power plans to invest about $4 billion in a Wyoming fuel cell generation project to meet growing energy demand from Alphabet's Google.
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GlobalFoundries to Build Two Chip Plants With Up to $21 Billion Funding
The chip manufacturer plans to build two chip plants in New York using up to $20 billion in funding from Japan and money from the CHIPS Act as the U.S. Commerce Department plans to take a 4% stake in the company.
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Fastenal Profit Up as Spending Climbs
The fastener-and-tool distributor posted third-quarter profit of $401.6 million, or 35 cents a share, compared with $335.5 million, or 29 cents a share, a year earlier.
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