Category: finance
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Asia Stocks Rebound After Strong U.S. Economic Data Eases Valuation Concerns
Asian stock markets posted gains on Thursday, partially recovering from the sharp selloff in the previous session. The rebound was fueled by stronger-than-expected U.S. economic data, helping soothe investor anxiety over stretched equity valuations. U.S. Data Boosts Market Confidence Wall Street surged overnight after reports showed the U.S. services sector hit an eight-month high in
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Microsoft and G42 Announce 200 MW Data Center Expansion in the UAE
Dubai, UAE – Microsoft (MSFT.O) and Abu Dhabi-based G42 announced a 200-megawatt expansion of data center capacity in the United Arab Emirates, part of the U.S. tech giant’s over $15 billion investment commitment in the Gulf country. The expansion will be implemented through Khazna Data Centers, a G42 unit, and is expected to begin operations
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Johnson Controls Projects 2026 Profit Above Estimates Driven by Data Center Demand
Cork, Ireland – Johnson Controls International (JCI.N) expects 2026 adjusted profit per share of approximately $4.55, surpassing analysts’ forecast of $4.43, as rising demand from data centers boosts sales of the company’s building and industrial equipment. The company benefits from the accelerating adoption of AI technologies, which has fueled a surge in data center construction
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Cencora to Invest $1 Billion in U.S. Drug Distribution, Raises 2026 Profit Forecast
Philadelphia, U.S. – Cencora Inc (COR.N) announced plans to invest over $1 billion through 2030 to expand its U.S. pharmaceutical distribution network, following a forecast of adjusted 2026 profit above Wall Street expectations. The company will construct a second national distribution center in Harrison, Ohio, alongside new or expanded facilities in California and Alabama, aligning
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Sun Pharma Reports Higher-Than-Expected Quarterly Profit on Strong Domestic Demand
Mumbai, India – Sun Pharmaceutical Industries Ltd (Sun Pharma), India’s largest drugmaker by revenue, surpassed analysts’ expectations with its latest quarterly earnings, driven by robust demand in the domestic market. The Mumbai-based firm reported a consolidated net profit of 31.18 billion rupees ($354.7 million) for the quarter ended September 30, up from 30.4 billion rupees
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Tesla Germany Sales Plunge Over 50% in October While EV Market Surges
Tesla’s (TSLA.O) sales in Germany fell sharply in October, dropping more than half compared with the same month last year, according to the German Federal Motor Transport Authority (KBA). Despite the decline in Tesla sales, overall battery electric vehicle (EV) registrations in Germany continued to grow. Tesla Sales DeclineIn October, Tesla sold just 750 vehicles
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China Targets $4 Billion Dollar Bond as Orders Surge Beyond $65 Billion
China is set to issue a $4 billion two-tranche U.S. dollar bond, according to a term sheet reviewed by Reuters, marking a major move in global debt markets just a week after Beijing and Washington reached a temporary trade truce. The bond offering includes a three-year dollar bond with an initial price guidance of three-year
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Nexi No Longer Committed to Sabadell Unit Acquisition, Open to New Deal
Italian payments group Nexi (NEXII.MI) said on Wednesday it no longer has any commitment to acquire Banco Sabadell’s (SABE.MC) retail payments unit, Paycomet, but remains open to negotiating a potential future deal under new terms. The original agreement, signed in February 2023, involved Nexi purchasing 80% of Paycomet for 280 million euros, with Sabadell retaining
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Bank of America Raises ROTCE Target to Compete with Wall Street Rivals
Bank of America (BAC.N) raised its medium-term profitability target on Wednesday as it seeks to boost market share and catch up with larger Wall Street competitors, including JPMorgan and Goldman Sachs. At its first investor day since 2011, BofA set a new return on tangible common equity (ROTCE) target of 16% to 18%, up from
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McDonald’s Q3 Sales Beat Estimates as Value Meals Boost Customer Demand
McDonald’s (MCD.N) reported stronger-than-expected global comparable sales for the third quarter on Wednesday, as affordable meal promotions helped attract cautious diners amid economic uncertainty. The fast-food giant posted global same-store sales growth of 3.6%, slightly above analyst estimates of 3.55%, driven by robust performance in the U.S. and international markets. In the U.S., comparable sales
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