Unlock Editor’s Digest for free Roula Khalaf, editor-in-chief of the FT, selects her favourite stories in this weekly newsletter. In May, credit rating agency S&P Global downgraded the creditworthiness of French government bonds, essentially telling the country’s politicians: just do it. “Political fragmentation contributes to uncertainty about the government’s ability to continue implementing policies that … Read more
TSMC shares rose, with Morgan Stanley among analysts raising their forecasts. (CPHOTO via Getty Images) TSMC (TSM) Shares of TSMC rose as much as 3% in Taipei (2330.TW), extending a rally this year to more than 75% as chipmakers prepare for TSMC’s price hikes. Shares also rose after Morgan Stanley joined a group of brokers … Read more
Boeing and Airbus have reached an agreement to distribute Spirit AeroSystems. Boeing will pay $4.7 billion for the supplier. Including the assumed debt, this amount has increased to $8.3 billion. (zoonar.com, Zoonar GmbH) Boeing (BA) Boeing and Airbus (AIR.PA) have struck a deal to split Spirit AeroSystems (SPR), with the former paying $4.7bn (£3.7bn) for … Read more
Nvidia shares are down more than 6% as investors exit the chip heavyweight. (Reuters/Reuters) Nvidia (NVDA) Nvidia has lost more than $500 billion (£433 billion) in market value since briefly becoming the world’s most valuable company last week, after its shares fell almost 7% on Monday and were in the red during trading hours. Many … Read more
Apple shuts down Apple Pay Later just months after launch. (Richard Levine) Shares of the iPhone maker were higher in pre-market trading following reports that the company is ending its “buy now, pay later” service, just over a year after its launch. The service, called Apple Pay Later, allowed customers to split purchases between $50 … Read more
Nvidia overtakes Apple as its market cap surpasses $3 billion (Reuters/Reuters) Nvidia (NVDA) US chip designer Nvidia on Wednesday became the third US company to reach a market valuation of more than $3 trillion (£2.4 trillion), overtaking Apple (AAPL) to become the world’s second most valuable company. Nvidia shares rose 5.2%, pushing its market cap … Read more
What you need to know Microsoft CEO Satya Nadella is reportedly concerned about OpenAI’s new deal with Apple to bring AI capabilities to the iPhone. Nadella worries about the impact the deal will have on Microsoft’s products and services, which are already heavily infused with AI capabilities. OpenAI is seemingly on good terms with Apple, … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. Rio Tinto should abandon its primary listing in London and unify its corporate structure in Australia, following a move by rival BHP, according to an activist investor who has taken a stake in the dual-listed … Read more