Business news
- Asia markets mostly rise after Wall Street gains on rate-cut hopes fueled by weak jobs data - The ADP report is the last jobs picture the Federal Reserve gets before it meets Dec. 9-10. Markets are now pricing in an 89% chance of a cut.
- Bank of Japan faces a policy dilemma as government bond yields keep hitting new highs - Experts said the rise in yields is due to inflation running above target, hawkish remarks from the Bank of Japan and an expansionary fiscal policy.
- Trump's South Korea tariff cuts are major boost for Hyundai and GM - The Trump administration said the tariff rate for vehicles from South Korea will drop to 15% as part of a trade deal.
- Salesforce beats on earnings, issues better-than-expected revenue forecast - Salesforce said its Agentforce artificial intelligence business is generating over $500 million in annualized revenue.
- Micron stops selling memory to consumers as demand spikes from AI chips - Demand driven by the AI infrastructure boom is creating shortages for certain products like memory.
- Jeffrey Epstein island photos and videos released as top banks share files with House Oversight Committee - The release comes as Attorney General Pam Bondi is on a deadline to publicly share files related to Epstein and his convicted accomplice Ghislaine Maxwell.
- Medicare prescription drug costs may change in 2026 — what beneficiaries need to know - For retirees who rely on prescription drugs, experts say it's a good time to evaluate the cost of those treatments for next year.
- How families could get stuck with higher electric bills if the AI data center boom goes bust - Investors and energy analysts question whether the AI race has turned into a bubble, one that would be costly to unravel as major infrastructure gets built.
- Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision - The Treasury secretary cited several sections of 1962 Trade Act that give the president sweeping powers over import duties.
- Microsoft stock sinks on report AI product sales are missing growth goals - Microsoft stock sank after a report that multiple sales teams for the company's Azure Foundry product missed growth goals in the last fiscal year.