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'Utter madness': NZ farmers agree dairy sale to French group
Farmers who own New Zealand dairy cooperative Fonterra voted Thursday to sell its consumer business to French group Lactalis, a decision slammed by the country's foreign minister as "utter madness". Foreign Minister Winston Peters said the vote meant "iconic" brands such as Anchor, Mainland and Kapiti were being sold off to the French firm.
Samsung posts 32% profit rise on-year in third quarter
South Korean tech giant Samsung Electronics posted on Thursday a 32 percent rise in profits on-year for the third quarter, driven by AI-fuelled market demand for memory chips. - Share surge - Against the backdrop of AI market opportunities, Samsung -- a bellwether on South Korea's benchmark Kospi index -- has seen its shares surge more than 90 percent since the beginning of this year.
Taxes, labor laws, pensions: what Milei wants to do next
Boosted by his victory in mid-term elections, Argentina's libertarian President Javier Milei is preparing to forge ahead with a second wave of reforms, targeting the labor market, taxation system and, down the line, pensions.
Google parent Alphabet posts first $100 bn quarter as AI drives growth
Google parent Alphabet reported its first-ever $100 billion quarterly revenue on Wednesday, powered by strong growth across its core search business and rapidly expanding cloud division that was buoyed by artificial intelligence. The cloud division, which competes with Amazon Web Services and Microsoft Azure, has become a key growth engine for Alphabet.
Trump, Xi to meet seeking truce in damaging trade war
Donald Trump and Chinese leader Xi Jinping will seek a truce in their tit-for-tat trade war on Thursday, with the US president predicting a "great meeting" but Beijing being more circumspect. One surprise could be if Xi brings up Taiwan, with speculation that Beijing might press Trump to water down US backing for the self-ruled island.
S. African president eyes better US tariff deal 'soon'
South African President Cyril Ramaphosa said Wednesday that his country has advanced to "text-based" negotiations with Washington towards securing a better tariff deal -- and hoped one would materialise "soon".
US media mogul John Malone to step down as head of business empire
Billionaire media and telecoms tycoon John Malone will step down as chairman of his multinational companies Liberty Global and Liberty Media after decades influencing the global communications landscape, the businesses announced Wednesday. He will also step down as chairman at Liberty Media, which operates Formula 1 racing, MotoGP, and Live Nation entertainment.
AI chip giant Nvidia becomes world's first $5 trillion company
AI chip juggernaut Nvidia became the world's first $5 trillion company on Wednesday, as investors remain confident that artificial intelligence will deliver a new wave of innovation and growth. The eyewatering valuations linked to artificial intelligence also include OpenAI becoming the world's most valuable private company, currently valued at $500 billion.
Boeing reports $5.4-bn loss on large hit from 777X aircraft delays
Boeing reported a $5.4-billion third-quarter loss on Wednesday as massive added costs from the delayed certification of its 777X aircraft weighed down its results. In 2020, Boeing booked a $6.5 billion charge on the 777X, citing the lengthy FAA certification process and the pushing back of demand from airlines for the jet due to Covid-19.
AFP
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