Jensen Huang resigned as CEO of Nvidia on Thursday after coming under scrutiny for two extramarital affairs.
Oil prices were mixed today and were headed for a second weekly decline as a continued US blockade of Iran eased fears of renewed fighting in the Middle East, though shipping attacks remained a supply risk.
“She’s 69 and otherwise healthy as a horse.”
Treasury yields moved higher as investor expectations for a December rate hike by the Federal Reserve gain strength.
Microsoft has said the outage was not caused by a cyber-security incident, but efforts to fix the issues have so far been largely unsuccessful.
Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)
Cartier-owner Richemont has today reported a faster-than expected quarterly sales increase, helped by continued demand for its jewellery and bumper growth in the US and Japan.
Singapore said it had barred Alice Huang from re-entering the country and that U.S. authorities had provided limited help with its yearlong investigations.
Billionaire investor and Nvidia Corp. shareholder Leo KoGuan expressed support for Jensen Huang on Friday and said he won’t increase his stake in the tech company with someone else at the helm.
Jim Atkinson, President & CEO at Guinness Atkinson Funds, discusses the launch of the firm's new K-beauty ETF and his outlook for demand. He speaks on Bloomberg's ETQ IQ Asia. (Source: Bloomberg)
Chris Van Hollen to run to be majority leader in upper house after sweeping party victory in midterm elections
Nvidia-backed ‘neocloud’ tells investors it must obtain additional financing to fulfil Anthropic contracts
CEO behind the meteoric rise of Nvidia stepped down after it was revealed he had an affair with an alleged Chinese spy Jensen Huang has stepped down as CEO of Nvidia , the company at the center of the AI boom, after leading it for more than 30 years. Huang, an electrical engineer by education, stewarded the company from a $1bn firm when it went public in 1999 to a company valued at more than $4tn in 2026. But in a matter of days, after it was revealed he had an extramarital affair with a woma...
Copper flicked higher on Friday, trimming losses racked up in recent days due to upheaval in the artificial intelligence sector and expectations of further hikes in US interest rates.
New chair Harvey Jones and CEO Colette Kress need to steady the chip group after founder Jensen Huang’s shocking departure
The FBI has seized more than $1.2bn (£910m) of cryptocurrency stolen from Binance last month.
Huang’s resignation has sent shockwaves through the AI industry, after revelations of extramarital affairs, including one involving a suspected Chinese spy Full report: Jensen Huang resigns as Nvidia CEO Analysis: Jensen Huang built an AI kingdom. Now he’s gone, will Nvidia’s ramparts be breached? Jensen Huang is expected to testify before the US Congress in the next fortnight, after the Nvidia CEO stepped down from the multi-trillion dollar company on Thursday, plunging the chipmaker into cr...
Australia’s benchmark bond yield fell below its US counterpart for the first time in more than a year as expectations for monetary policy in the two nations diverge.
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Ross Gerber, Gerber Kawasaki Wealth and Investment Management Co-Founder, President & CEO, Emily Kilcrease, Center for a New American Security Senior Fellow & Director, Nell Minow, ValueEdge Advisors Chair, Carolyn Everson, Permira Senior advisor, Dan Clancy, Twitch CEO, Jim Caron, Morgan Stanley Investment Management CIO...
Chris McGuire, a senior fellow for China and emerging technologies at the Council on Foreign Relations and former Biden administration technology and national security official, says the key question is not whether export controls can work, but whether they are being enforced. McGuire speaks with Romaine Bostick and Jess Menton on “The Close.” (Source: Bloomberg)
Ukrainian President Volodymyr Zelenskyy said progress had been made during a meeting with US envoys in Ireland, hailing a prisoner swap deal and a decision to include Europeans in the next round of peace talks with Russia.
Oil held a gain after President Donald Trump said the US could forgo a deal with Iran, dimming prospects for a breakthrough to end the war that has roiled Middle East supplies.
As Nvidia’s board seeks a new CEO, experts say that person will need a rare balance of tech vision and business savvy
A feud over how consumers can buy and sell homes escalated on Thursday with a slew of antitrust lawsuits filed across the country by the top US broker for residential properties.
Prediction market platform ends advisory deal amid mounting political scrutiny and rival investments in Polymarket
Kalshi announces ‘mutual decision’ as Democrats say they plan to investigate Trump family’s investments Donald Trump Jr is no longer a paid adviser for Kalshi, the prediction market company said Thursday. Kalshi described it as a mutual business decision between the two parties that followed a decision by Trump Jr’s investment firm, 1789 Capital, to increase its investment in Kalshi’s biggest competitor Polymarket. Continue reading...
Citadel Securities LLC has hired Matthew Zimmerman from Diameter Capital Partners LP for investment-grade corporate bond trading.
More people want to understand the fine print on plans this year, financial planners say.
Meatpacker National Beef Inc. said it is seeing a bottom in the US cattle industry’s downturn as it reported its highest margin in two years.
Why December is the best month of the year for momentum strategies
Before Nvidia Corp. was thrown into turmoil by the ouster of longtime chief executive Jensen Huang, a major initiative he championed alongside the giants of Wall Street was proving far more complicated than he had envisioned.
A shortage of available oil supertankers is constraining US crude exports, prompting shippers to hire smaller vessels and direct more cargoes to Europe, according to the head of the largest US port.
Anthropic PBC’s initial public offering has drawn about six times the orders for the shares available, according to people familiar with the matter, as interest increases for potentially the biggest first-time share sale ever.
Amazon Web Services and Google users also reported outages on Thursday
In this episode, we explore the “dividend nomads,” people using derivative-income funds to generate the cash they need to live abroad.
The decades-old system that the copper industry uses to price mined ores is fracturing in the face of an acute shortage.
AI agents can save you time, but an expert says decisions involving your health, wealth and privacy still need human input.
The Treasury Department proposes to pay debt collectors much less than in the past to help borrowers get out of default.
The US budget gap widened to $404 billion in October, up 42% from the same period a year earlier, Treasury Department data showed Thursday.
Federal Reserve Bank of Chicago President Austan Goolsbee says the Fed needs to act to tame inflation before the economy becomes overheated during remarks on Yahoo! Finance. (Source: Bloomberg)
Federal Reserve Bank of San Francisco President Mary Daly says further interest-rate increases will likely be needed to bring down inflation, adding that businesses are increasingly contemplating raising prices. She speaks at the Stanford Institute for Economic Policy Research. (Source: Bloomberg)
Kelsey Berro, fixed income portfolio manager JPMorgan Asset Management, joins Scarlet Fu on “Bloomberg Real Yield.” The US bond market tumbled for a second straight session as traders brace for the Federal Reserve to step up the pace of its interest-rate hikes in an effort to pull down inflation. (Source: Bloomberg)
New York City expects to bring in nearly $1 billion more in taxes than it projected earlier this year, as the government’s coffers are fattened by Wall Street’s technology-driven gains.
Bloomberg’s Read Pickert joins Scarlet Fu on “Bloomberg Real Yield.” The Federal Reserve dropped a rate-setting meeting scheduled for October 2027 from the Federal Open Market Committee’s calendar, after announcing it would hold one fewer such gatherings next year. (Source: Bloomberg)
Maureen O’Connor, global head of high-grade debt syndicate at Wells Fargo, and Suzanne Gibbons, partner and head of research at Davidson Kempner, join Scarlet Fu on “Bloomberg Real Yield.” They discuss the departure of Nvidia CEO Jensen Huang, how his exit will affect AI debt financing, and the rising cost of capital. (Source: Bloomberg)
The American Cancer Society now recommends most men get their first PSA test when they turn 50. Black men and other men considered high risk should start screening at age 45.
CEO was viewed as ‘irreplaceable’, but recklessness of affair with a woman regarded by US officials as a Chinese spy made him a political liability Half the tech world made up its mind before the facts could be assessed properly. Jensen Huang was “irreplaceable”, said the chorus at the start of this week. Nvidia would melt without the co-founder’s brilliance, apparently. The chipmaker’s board had to find a way to save its genius for the sake of corporate America and the entire AI universe. It...
Federal Reserve Chairman Kevin Warsh has vowed the Fed will smite high inflation — but the death blows won’t come fast or easy.
The sale of previously owned homes dropped 5.5 percent in October, the lowest level since August 2010.
Iseq All-Share index retreats 0.16 per cent to close at 15,011.50
Higher borrowing costs deepen housing market slump as interest rates weigh on transactions
The market is dramatically underpricing the economic impact of Americans age 50 and older.
Elsewhere in the podcast, Ford Rojas explores why China might have wanted to target Huang in an alleged honey trap.
Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day than "Bloomberg Surveillance." (Source: Bloomberg)
A Pennsylvania-based Papa John’s International Inc. franchisee filed for Chapter 11 bankruptcy this week as pain spreads across fast-food operators.
CEO’s affair and resignation has brought company’s murky corporate contracts and supply chains into sharp focus Can the AI economy survive without its “central bank”? What does Jensen Huang’s fall mean for the world’s second-most valuable company, and what might a tremor in its fortunes mean for the world? Nvidia’s sky-high valuation is based on the fact that it designs and sells the advanced AI chips – called graphics processing units (GPUs) – that underpin the AI economy. Without these, AI...
A big chunk of your retirement is likely invested in the computer-chip giant.
Nvidia's leadership crisis threatens to spill over into the AI financing boom.
Investors have been forced to look up from the poster child of the artificial-intelligence trade and remember the other stocks on the board.
Interim CEO Colette Kress and board chair Harvey Jones emailed Nvidia employees, expressing gratitude for "resilience, professionalism and continued dedication
Sales of built units fell to 3.75m in October, down by 8.8% from last year, with mortgage rates at nearly three-year high US existing home sales hit a 16-year low in October as buyers were driven away by record-high mortgage rates and rising inflation, according to new data released on Wednesday. Sales of already built units dropped to 3.75m in October, down by 8.8% from last year, the National Association of Realtors (NAR) reported. The median existing-home sales price increased slightly to...
“We have $2.6 million, most of it in his 401(k) and IRAs, plus $450,000 in a brokerage account.”
“We are weighing up the wisdom of investing in a market driven by artificial intelligence.”
Cramer has been an Nvidia bull long before the generative AI boom.
Global AI-linked stocks tumbled today as Nvidia CEO Jensen Huang resigned following a deepening scandal around his affairs, upending the chipmaker's leadership and posing fresh risks to a sector already reeling with funding and regulatory concerns.
Bond traders are betting that the planned $5.9 billion takeover of Citgo Petroleum Corp., Venezuela’s most valuable overseas asset, will be derailed as the company reaps a windfall from the surge in oil prices.
"My expectations are that we need to move to a restrictive stance of policy to help bring inflation back down to that 2% objective," Federal Reserve Bank of Cleveland President Beth Hammack says during an event at Ohio State University. (Source: Bloomberg)
Home sales fell in October to a 16-year low as buyers bolted from the housing market in the face of 7% mortgage rates.
Ryan Cotton, Bain Capital's head of real estate, sits for an interview with the Property Play video podcast.
Even at the same mortgage rate, buying a typical home today eats up a much bigger share of household income than it did 30 years ago.
US previously owned home sales fell last month to a 16-year low as a cascade of negative news on mortgage rates and inflation deterred would-be buyers.
Chief Financial Officer Colette Kress will serve as interim CEO until a new leader is appointed.
Within days, Huang's status as a seemingly untouchable figure leading the global AI race has crumbled.
Nvidia finance chief Colette Kress is set to take over as interim CEO from Jensen Huang, the company said today, putting her in charge of the chipmaker whose processors power the world's most advanced super computers and AI data centres.
Jensen Huang’s $140 billion stake in Nvidia is largely held by trusts co-owned with his wife, Lori, creating added uncertainty for his financial future.
US president says levies will increase if trade partner does nothing to stop illegal crossings
US equity futures decline as investors grapple with a leadership crisis at Nvidia that threatens a wider fallout across the global AI supply chain and trade relations between the US and China. Wei Li of BlackRock joins "Bloomberg Brief" to discuss the market impact of the Nvidia turmoil. Bloomberg's Jennifer Zabasajja speaks to UN Secretary General Antonio Guterres, who argues that multilateral institutions must reform to reflect merging economies, at COP31. (Source: Bloomberg)
Citgo Petroleum Corp., the Venezuela-owned, US-based refiner, reported its highest quarterly profits ever and raised its full-year outlook thanks to an unprecedented surge in fuel-making margins.
U.S.-Canada trade tensions persist as Trump's tariffs drive up costs, threaten investment and complicate negotiations between the two countries.
Colette Kress to take over as interim head of the US chipmaker
Oil prices popped Thursday, after the latest comments from President Donald Trump raised worries that an end to the U.S.-Iran war was not in sight.
Nvidia shares fall in pre-market trading after report of Huang’s second affair Nvidia board reportedly deciding whether to oust CEO Jensen Huang Too big – and too well-connected – to sack? Huang does not enjoy the supercharged voting rights that are par for the course elsewhere – his shareholding is a plain vanilla 3.6%. On the other hand, Nvidia’s board does not appear to have spent much time worrying about succession planning and “key person risk” or other standard concerns of corporate gov...
A new bill would lower the Medicare age to 50, expanding coverage to an additional 60 million adults
Sen. Tom Cotton is urging the Commerce secretary to add CXMT to its "Entity List" as the fast-growing Chinese memory maker expands in DRAM and pushes into HBM.
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