Japan’s three largest financial groups — Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMBC), and Mizuho Financial Group — are joining forces to issue a stablecoin pegged to both the Japanese yen and the US dollar. The partnership marks a significant milestone in Japan’s efforts to modernise its financial system, improve settlement efficiency,

The Dow Jones Industrial Average was essentially flat on Friday as traders sought to move past credit concerns that triggered a sharp sell-off in regional banks on Thursday. The index traded 14 points higher, or less than 0.1%, while the S&P 500 shed 0.2% and the Nasdaq Composite fell 0.4%. Stocks that led Thursday’s banking

Nvidia stock (NASDAQ: NVDA) traded in the red on Friday, as a mix of policy worries and broader market risk-off sent investors scrambling for the exits. In premarket trading, the Nvidia stock was down roughly 2.8% to about $176, and several other chip names, including AMD and Broadcom, showed similar weakness. A key immediate trigger

Apple has won exclusive US broadcast rights to Formula 1, marking the first time the championship will move entirely to streaming. Starting in 2026, Apple TV will show all races, qualifying sessions, and practice rounds, replacing ESPN as the official rights holder. The move signals a major shift in how audiences will watch the global

Micron stock (NASDAQ: MU) tumbled on Friday, following Reuters reports that the US chipmaker has decided to abandon China’s server chip market after failing to rebound from Beijing’s 2023 ban on its products. The stock dropped approximately 4% in premarket trading before moderating to around 2.5% lower during regular hours, as investor concerns mounted over

Nestlé SA is planning to cut around 16,000 jobs globally as part of a two-year restructuring effort led by its new Chief Executive Officer, Philipp Navratil. The layoffs, representing roughly 6% of the company’s workforce, Bloomberg reports, come as the Swiss food giant aims to adapt to shifting consumer habits, rising costs, and growing competition

Singapore’s sovereign wealth fund, GIC, has taken legal action against Chinese electric vehicle maker Nio Inc., accusing it of inflating revenues through complex accounting linked to its battery-swap business. The lawsuit,Bloomberg reports, filed in August in the Southern District of New York, targets Nio, its CEO Li Bin, and former CFO Feng Wei. It centres

The brief and brilliant rally that graced European markets has come to an abrupt and jarring end. The powerful optimism of Wednesday, fueled by a surge in luxury brands, has vanished, replaced on Thursday by a fresh wave of selling that has sent London’s benchmark index tumbling and cast a renewed sense of uncertainty over

Taiwan Semiconductor Manufacturing Co. (TSMC) has reported a sharp rise in quarterly profit, underscoring how artificial intelligence (AI) is rewriting the dynamics of global chip supply chains. The 39% jump in net income to NT$452.3 billion ($14.8 billion) in the September quarter exceeded analysts’ forecasts of NT$405.5 billion, as the company continued to benefit from

Barclays share price has moved sideways this week as investors focus on the ongoing earnings by its biggest American peers like JPMorgan, Goldman Sachs, and Morgan Stanley. BARC was trading at 380p, inside a range it has been in the past few days. This price is about 72% above the lowest level in April. US