BUSINESS

NVIDIA TAKES $1 BILLION STAKE IN NOKIA, SENDING 5G MAKER'S SHARES TO DECADE HIGH

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Nvidia has taken a $1 billion stake in Nokia, a move that instantly sent the Finnish telecom giant's shares soaring more than 26% on Tuesday, their highest level in nearly a decade. The investment cements a deeper partnership between the two companies, focused on artificial intelligence and the next generation of wireless networks.

NETFLIX SHARES SINK AS PROFIT MISSES EXPECTATIONS

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Shares of Netflix declined Tuesday after the streaming giant reported quarterly profits that missed market expectations. Netflix posted a profit of $2.5 billion on revenue of $11.5 billion for the most recent quarter, citing a $619 million expense related to an ongoing dispute with Brazilian tax authorities. In a letter to shareholders, Netflix stated that its operating margin would have exceeded forecasts had it not been for the Brazil-related expense.

PARAMOUNT’S PURSUIT OF WARNER BROS DISCOVERY MARKS A DEFINING MOMENT IN GLOBAL MEDIA SHAKE-UP

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In a media industry long accustomed to disruption, this week stands out as one of the most turbulent in recent memory. Warner Bros. Discovery (WBD), home to Warner Bros., HBO, and CNN, has officially placed itself up for sale after Paramount Skydance made a third, higher bid to acquire the company. The move has triggered a frenzy of speculation, with Netflix, Amazon, Comcast, and even Apple reportedly assessing their options.

BARCLAYS ANNOUNCES SURPRISE $670 MILLION BUYBACK, BOOSTS OUTLOOK

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British lender Barclays on Wednesday unveiled a £500 million ($670 million) share buyback, surprising investors as it reported its third-quarter results. The bank also raised its full-year outlook, saying it now expects a Return on Tangible Equity (RoTE) above 11%, slightly higher than previous forecasts.

SPACEX CUTS STARLINK SERVICES TO MYANMAR SCAM CAMPS

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In a move to combat international criminal activity, SpaceX has cut off Starlink satellite internet service to more than 2,500 devices used by scam compounds in Myanmar. These compounds, where people from around the world are trafficked and forced to work in generating tens of billions of dollars annually, are believed to be operating in more than 30 locations along the Thai-Myanmar border.

COCA-COLA TO SELL MAJORITY STAKE IN AFRICAN BOTTLER TO COCA-COLA HBC IN $3.4 BILLION DEAL

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The Coca-Cola Company and Gutsche Family Investments have agreed to sell a controlling 75% interest in Coca-Cola Beverages Africa (CCBA) to Coca-Cola HBC AG, marking one of the largest beverage transactions on the continent.

META CUTS 600 JOBS IN SUPERINTELLIGENCE LABS SHAKE-UP

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Meta Platforms is set to trim around 600 positions from its artificial intelligence division, Superintelligence Labs, in a move aimed at making its sprawling AI operations leaner and more adaptable.

AMAZON WEB SERVICES OUTAGE DISRUPTS MAJOR WEBSITES AS RECOVERY UNDERWAY

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A widespread outage at Amazon Web Services (AWS) temporarily knocked several major platforms offline on Monday, exposing the global economy's deep dependence on a handful of cloud providers.