Latest Business News
Big Tech Loses $1.3 Trillion in 2026 on AI Spending Fears
Apple, Alphabet, Nvidia, Amazon, and Microsoft have collectively lost over $1.3 trillion in market value since January 2026 due to investor doubts on AI investment returns. Microsoft shed $613 billion, Amazon $343 billion, Nvidia $89.67 billion, Apple $256.44 billion, and Alphabet $87.96 billion.
Investors prioritize short-term profits over long-term AI goals amid rising capital expenditures.
TSMC and Samsung Gain Amid Big Tech Sell-Off
Taiwan Semiconductor (TSMC) added $293.89 billion, reaching $1.58 trillion, while Samsung Electronics gained $272.88 billion to $817 billion. Walmart also rose by $179.17 billion to $1.07 trillion, indicating sector rotation.
These gains contrast sharply with U.S. Big Tech losses.
Amazon Warns of 50%+ Capital Spending Increase
Amazon announced capital investments will rise over 50% this year, fueling fears of escalating AI costs without immediate profits. This reflects intense AI competition but worries investors on profitability timelines.
Amazon's market value dropped 13.85% to $2.13 trillion.
Xiaomi Reports 81% Q3 Profit Jump on EV Sales
Xiaomi's third-quarter profit surged 80.9% driven by strong electric vehicle sales and innovations. The company achieved its first net profit from EV operations in a single quarter.
This highlights success in Xiaomi's expanding EV segment.
Akzo Nobel and Axalta to Merge into $25B Paint Giant
AkzoNobel and Axalta Coating Systems plan a merger creating a $25 billion enterprise-valued paint leader. AkzoNobel shareholders will receive a 2.5 billion euro dividend.
The deal positions the new entity as a coatings industry powerhouse.
Hyundai Pledges Record $85.8B Investment in South Korea
Hyundai Motor Group announced $85.8 billion investment over five years in AI, robotics, and EVs. The funds aim to boost South Korea's innovation and vehicle exports.
This is the largest such commitment by the group.
Wendy's to Close Hundreds of Locations Amid Sales Drop
Wendy's reported an 8.3% global sales decrease last quarter and plans to shutter hundreds more stores soon. The closures address underperforming sites in a challenging fast-food market.
This follows ongoing rationalization efforts.
US Jobless Claims Hit Two-Month High
Continued jobless claims rose to 1.957 million for the week ending October 18, per Labor Department data. This marks a two-month high amid economic pressures.
The increase signals potential softening in the labor market.
Lenders Caution on 2026 Leveraged Loan Market
FTI Consulting's 2026 survey shows lenders wary after a solid year, citing AI crash and political risks as top concerns. 81% expect a politicized Fed Chair pick under Trump weakening independence.
Consumer sectors like retail and restaurants face highest distress risks.
US Home Sales Fell Sharply in January
US home sales dropped significantly in January, reflecting housing market challenges. This continues trends of cooling demand amid high rates and prices.
Economists note broader implications for the economy.
Trump Tariffs Cost Households $1,000 in 2025
Research from the Tax Foundation estimates Trump tariffs cost US households $1,000 last year, with higher impacts possible in 2026. Tariffs contributed to market turbulence and trade concerns.
Compromises mitigated some retaliatory risks.
Hiring Surged at Start of 2026 Beating Expectations
US hiring increased sharply early in 2026, exceeding economists' forecasts per recent jobs report. This provides a positive economic signal despite other pressures.
The data offers key insights into labor market strength.