Business News Updates | 12-11-2023
Business news headlines for November 12, 2023:
- Meta, Apple, and Alphabet to Face New Financial Regulations in the US
The Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would bring large tech companies that offer digital wallets and payment apps under its supervision. This move is seen as an effort to level the playing field between traditional banks and non-bank financial institutions.
- Nvidia Updates H100 AI Processor
Nvidia has announced significant updates to its H100 AI processor, adding new capabilities that are expected to further solidify the company’s dominance in the AI computing market. The new features include improved performance, support for new AI models, and enhanced security.
- Boeing Secures Orders at Dubai Airshow
Boeing has opened the Dubai Airshow with a flurry of orders, including a $52 billion commitment from Emirates Airline for widebody aircraft. The company also teased the possibility of more deals as China moves closer to a decision on whether to lift its grounding order for the 737 Max.
- Tyson Foods Writes Down Beef Investments
Tyson Foods has written down the value of its investments in beef, citing a challenging economic backdrop, tighter cattle supplies, and higher costs. This move is likely to have a ripple effect throughout the beef industry.
- HP Inc. Shares Rise on Optimistic Outlook
HP Inc. shares have risen after the company issued an optimistic outlook for the rest of the year. The company expects to see strong demand for its personal computers and printers, particularly in the consumer and education markets.
Financial market news for November 12, 2023:
U.S. Markets
- Dow Jones Industrial Average: 34,337.87, up 54.77 points (0.16%)
- S&P 500: 4,411.55, down 3.76 points (0.08%)
- Nasdaq Composite: 13,767.74, down 30.71 points (0.22%)
Key Events
- Diwali Muhurat Trading: Indian stock markets closed higher on Sunday, November 12, in the special one-hour trading session known as Diwali Muhurat Trading. The Sensex index rose 355 points (0.55%) to close at 65,259.45, while the Nifty 50 index gained 100 points (0.52%) to settle at 19,525.55.
- Moody’s Downgrades U.S. Credit Rating: Moody’s Investors Service downgraded the United States’ long-term issuer rating one notch to Aa3 from Aaa, citing “very large” fiscal deficits and partisan gridlock in Washington.
Other News
- Meta, Apple, and Alphabet to Face New Financial Regulations in the US: The Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would bring large tech companies that offer digital wallets and payment apps under its supervision.
- Nvidia Updates H100 AI Processor: Nvidia has announced significant updates to its H100 AI processor, adding new capabilities that are expected to further solidify the company’s dominance in the AI computing market.
- Boeing Secures Orders at Dubai Airshow: Boeing has opened the Dubai Airshow with a flurry of orders, including a $52 billion commitment from Emirates Airline for widebody aircraft.
- Tyson Foods Writes Down Beef Investments: Tyson Foods has written down the value of its investments in beef, citing a challenging economic backdrop, tighter cattle supplies, and higher costs.
- HP Inc. Shares Rise on Optimistic Outlook: HP Inc. shares have risen after the company issued an optimistic outlook for the rest of the year. The company expects to see strong demand for its personal computers and printers, particularly in the consumer and education markets.