Trending Market News

Nestle has signed its largest-ever international sponsorship deal with the NBA, spanning 21 countries across four continents, to reach health-conscious younger consumers through its cocoa and malt drinks brands like Milo, Nesquik, and Nescau. The partnership aims to get 2.5 million young people physically active while repositioning Nestle's products as healthy alternatives amid the rise of GLP-1 weight-loss drugs and fitness movements.

• The deal follows a trend of consumer goods companies using sports partnerships, with sports accounting for 70-75% of total global brand sponsorship spending and CPG brands comprising 18% of sports sponsorship investments
• Nestle's previous Formula 1 deal with KitKat (2025-2028) showed measurable results: 12% more people considered buying KitKat, and a racecar-shaped bar reached over 500 million people within 30 days of launch
• The NBA reaches fans in 214 countries with over 2.5 billion social media followers (75% outside the U.S.), while average U.S. pro sports teams now earn $51 million annually from sponsors, up from $26 million a decade ago

AMD CEO Lisa Su confirmed the chipmaker is continuing to explore foundry and memory partnership opportunities with Samsung Electronics during a visit to Seoul. Su met with executives from SK Hynix and Samsung to discuss memory chip supply amid tight market conditions and strong data center demand. The discussions build on a March memorandum of understanding between AMD and Samsung covering AI infrastructure memory supplies and potential contract manufacturing services.

• AMD is working with customers to 'optimize their memory footprint' in response to tight memory chip supply, with Su urging suppliers to 'build faster, as fast as possible'
• Su emphasized AMD's reliance on Korean suppliers, calling Samsung and SK Hynix 'key for us to accomplish our broad ambition in data centres' amid very strong data center demand
• The partnership discussions follow a March MoU between AMD and Samsung covering memory chip supplies for AI infrastructure and exploring foundry services for next-generation AMD products

The International Energy Agency's governing board will meet Wednesday at 1300 local time to discuss a proposed release of oil and diesel stocks from emergency reserves. The release was agreed upon by the G7 last week under pressure from US President Donald Trump to address shortages and record-high prices. Confusion remains in the industry about the specific volume of barrels the US and Europe plan to release.

• EU nation representatives already discussed the proposed reserve release in a separate meeting Wednesday morning
• The G7 agreed last week to release emergency crude oil and diesel reserves and pledged to avoid energy export restrictions
• Uncertainty persists among oil and energy industry participants regarding the exact number of barrels to be made available

The Dutch government will reduce its stake in ABN Amro from 20.7% to 10.5% through the sale of share certificates. Once the stake falls below 10%, the relationship agreement with the state's investment vehicle NLFI will be terminated, ending certain information rights the government currently holds.

• The Dutch state is cutting its ownership stake in ABN Amro by nearly half, from 20.7% to 10.5%
• The reduction will be achieved through selling certificates of shares in the bank
• The relationship agreement with NLFI that grants the government certain information rights will end once its stake drops below 10%

Tesla is lobbying European regulators for approval of its Full Self-Driving technology through pressure tactics including social media campaigns and direct negotiations with safety officials. The company's safety research, which claims crash-reduction benefits, has been found by seven traffic-safety researchers to use flawed methodology that cannot support Tesla's public claims about saving lives. The strategy has yielded results, with the Netherlands granting critical approval and seven other EU countries following suit, though the underlying safety evidence remains contested.

• Tesla secured approval in the Netherlands after repeatedly pressuring regulators to reduce testing rigor and costs, with correspondence showing the company demanded officials provide a 'goodwill' gesture and sought to limit oversight scope
• Seven independent traffic-safety researchers told Reuters that Tesla's European safety study uses poor crash indicators (horn honking, blinker usage) and cannot support the company's claim that FSD prevents fatal crashes or saves lives
• Tesla and CEO Elon Musk have mobilized supporters on social media to blame regulators for traffic deaths, with posts claiming French officials are 'responsible for accidents and deaths' by delaying approval, despite the research not addressing fatalities

The European Commission is considering a broad tax on large corporations with over €100 million in annual EU revenue to capture income from Big Tech companies like Apple, Meta, and Google without directly targeting them. This approach aims to raise EU revenues while avoiding potential retaliation from the Trump administration, which has threatened 100% tariffs on countries imposing digital services taxes on US companies.

• The proposed changes to the 'Corporate Resource for Europe' (CORE) would require companies with €100+ million annual EU revenue to pay lump-sum taxes, expanding from the current €100,000-€750,000 fixed levy
• President Trump previously threatened 100% tariffs on countries imposing digital services taxes on American companies, which the US argues discriminate against US tech firms
• EU officials indicate some member states oppose a pure digital tax to avoid upsetting the US, leading to consideration of a broader corporate tax covering all large companies

Oil prices rose on Wednesday as concerns over Houthi attacks on Saudi Arabian infrastructure outweighed recovering crude supplies in the Middle East. Brent crude gained 1.17% to $101.76 per barrel while WTI advanced 1.26% to $90.57 per barrel. The price increase reflects heightened geopolitical risks despite Saudi Arabia's oil supply through the East-West Pipeline reaching 5.8 million barrels.

• Yemen's Iran-backed Houthis attacked Saudi airports in Jazan and Najran, escalating hostilities with the kingdom and raising fears of further supply disruptions
• Saudi Arabia's East-West Pipeline had restored oil flow to 5.8 million barrels as of Tuesday, indicating supply recovery in the region
• Analysts warn that Houthis' ability to target oil facilities hundreds of kilometers away maintains high risk of large-scale crude supply disruptions, particularly if they lose more territory

Chevron is evacuating non-essential personnel from its offshore platforms in the Gulf of Mexico due to an approaching tropical storm threatening the US Gulf Coast. The company stated that production from its operated assets remains at normal levels, while onshore facilities are following storm preparedness procedures.

• Only non-essential workers are being transported from offshore platforms as a precautionary measure
• Production from Chevron-operated assets in the Gulf of Mexico continues at normal levels despite the evacuation
• Onshore facilities are implementing standard storm preparedness protocols as the potential tropical storm approaches

Samsung Electronics is expected to report a nearly nine-fold increase in third-quarter operating profit to 106.1 trillion won ($79.1 billion), driven by AI-driven memory chip demand. However, analyst forecasts have been cut by 8% since late August due to slowing chip price growth, a strengthening South Korean won, and concerns that profit margins may have peaked.

• Memory chip profit margins expected to remain flat at 76% in Q3 despite surging profits, as conventional DRAM contract price increases slow to 10-15% in Q4 from a 60% surge in Q2
• Samsung is securing long-term contracts covering two-thirds of memory output with ceiling-price mechanisms, reducing exposure to boom-bust cycles but limiting price gains
• The company is narrowing the gap with SK Hynix in high-bandwidth memory (HBM) chips after previous delays, expanding shipments of HBM4 chips for AI data centers

Constellation Brands exceeded Q2 profit and sales estimates, driven by strong demand for its beer brands including Modelo Especial and Victoria despite soft consumer spending in the alcohol industry. The company also acquired SpikedAde, a vodka-based ready-to-drink beverage company, for at least $75 million to expand into the growing RTD category.

• Q2 net sales rose 6% to $2.63 billion, beating analyst estimates of $2.54 billion, with earnings of $3.74 per share aided by major sporting events like FIFA World Cup and NBA Finals
• SpikedAde acquisition includes $75 million upfront plus up to $278 million over five years contingent on performance and capital allocation priorities
• The company lowered its annual operating margin forecast to 31-32% from 32-33%, while reaffirming fiscal 2027 adjusted earnings guidance of $11.20 to $11.90 per share

Nvidia-backed cloud computing company Lambda is raising up to $4 billion at a $14.5 billion pre-money valuation in its final funding round before a planned IPO. The company aims to go public in 2027, subject to execution and market conditions. Investment firms Blackstone and Coatue Management are leading the funding round.

• Lambda's backlog of unfilled orders surged from $15 billion in June to $50 billion in September 2026, indicating strong demand for its cloud computing services
• Blackstone and Coatue Management are leading the $4 billion fundraising at a $14.5 billion pre-money valuation
• The company is targeting a 2027 IPO, depending on execution and market conditions

Google faces a £1 billion ($1.33 billion) mass consumer lawsuit in London's Competition Appeal Tribunal, accused of abusing its dominant position by charging excessive commissions up to 30% on app purchases and in-app transactions through its Play Store. The case represents around 20 million UK consumers who made purchases between 2015 and July 2025, and is the latest in a series of legal challenges against Big Tech companies in Britain.

• Plaintiffs argue Google's up to 30% commission fees on apps, in-app purchases, and subscriptions were passed on to consumers by developers, citing YouTube Premium pricing on Apple's App Store as an example
• Google denies wrongdoing, claiming Android offers consumer choice and charges 'some of the lowest fees in the market' while facing strong competition from Apple's App Store and alternative platforms
• The lawsuit follows Google's recent worldwide settlement with Epic Games in March and a separate £260 million settlement with app developers in September, both related to app store practices

AT&T announced a fiber joint venture with BlackRock's Global Infrastructure Partners and Canada Pension Plan Investment Board to accelerate fiber network expansion across the US. AT&T will retain 50% ownership while GIP and CPP Investments will jointly hold the other 50%. The deal enables AT&T to expand beyond its traditional service areas into major metro markets across 16 states.

• The joint venture will combine Forged Fiber 37 (AT&T's unit holding fiber assets acquired from Lumen Technologies) and Gigapower (AT&T's existing wholesale fiber venture with GIP)
• AT&T plans to use proceeds from the deal to reduce its net-debt-to-adjusted EBITDA ratio to approximately 2.5 times within three years, fund business investments, and return capital to shareholders
• The transaction is expected to close in the first half of 2027, subject to regulatory approvals and customary closing conditions

Micron Technology will pay $600 million to settle a patent dispute with Netlist over memory chip technology. The agreement includes $30 million quarterly payments over five years for a license to Netlist's patent portfolio, including high bandwidth memory technology. This follows Netlist's $445 million patent infringement victory against Micron in 2024.

• Micron will pay $30 million per quarter for five years to license Netlist's patent portfolio covering high bandwidth memory technology
• Netlist previously won a $445 million patent infringement judgment against Micron in Marshall, Texas federal court in 2024
• Netlist filed a new ITC complaint in September seeking to block imports of Micron chips used in Google, Nvidia, and Broadcom AI computing products

Amazon Prime Video has secured a six-year exclusive deal with the Television Academy to become the global home of the Emmy Awards starting in 2027. This agreement ends the traditional rotation of the ceremony among major U.S. broadcast networks ABC, CBS, Fox, and NBC. The move reflects the broader shift of major live events from traditional television to streaming platforms.

• The deal begins with the 2027 ceremony and terminates the 'Wheel Deal' rotation system that had broadcast networks sharing Emmy coverage since its inception
• The Emmy Awards will remain free to viewers worldwide with no Prime Video subscription required, though financial terms were not disclosed
• This follows a similar trend of awards shows moving to streaming, including the Oscars' planned move to YouTube in 2029, as traditional networks face growing competition from digital platforms

Uber announced it will acquire ezCater, a U.S. corporate catering platform, for $2.3 billion in an all-cash transaction. The deal will integrate ezCater's catering business with Uber Eats' restaurant network and Uber for Business' corporate clients, expanding Uber's food delivery operations. The acquisition is subject to regulatory approval and expected to close in the coming months.

• ezCater generated over $2.5 billion in gross bookings over the last 12 months, with average order values exceeding $400
• The deal is expected to boost Uber's margins by combining ezCater's corporate catering expertise with Uber's existing restaurant and business customer networks
• This acquisition follows Uber's broader expansion strategy in food delivery, including a recent $14.8 billion deal to buy Delivery Hero to create the largest food delivery group outside China

Energy Transfer agreed to acquire Vaquero Midstream for approximately $2.63 billion in cash and stock to expand its midstream operations. The deal includes $1.95 billion in cash and about 33.3 million newly issued Energy Transfer units. The transaction is expected to close in the fourth quarter of the year.

• The acquisition is valued at $2.63 billion, comprising $1.95 billion in cash and approximately 33.3 million newly issued Energy Transfer units
• The acquired assets are linked to Energy Transfer's existing natural gas and natural gas liquids infrastructure
• The deal will provide additional volumes for Energy Transfer's transportation, fractionation, terminalling, and export businesses

Canadian utility companies Emera and Canadian Utilities announced an all-stock merger to create a combined entity with an enterprise value of approximately C$72 billion ($50.46 billion). The merged company will operate under the Emera name with headquarters in Halifax, and the transaction is expected to close in the third or fourth quarter of 2027.

• The combined enterprise value of the merged entity is C$72 billion (approximately $50.46 billion USD)
• The deal is structured as an all-stock transaction between the two Canadian utility companies
• Transaction completion is anticipated in Q3 or Q4 2027, with the combined company maintaining public headquarters in Halifax

Google has signed a 3,590-megawatt power deal with Constellation Energy, the largest US nuclear operator, marking the country's biggest power grid arrangement. The agreement includes over $4.3 billion in new investment, with about a quarter of the supply coming from upgraded nuclear reactors in the Midwest and Mid-Atlantic regions. The deal reflects tech companies' race to secure massive electricity supplies for data centers.

• Google will purchase 890 MW through a 20-year agreement from upgraded Constellation nuclear plants, with first delivery expected in 2028, plus an additional 2,700 MW from unspecified sources
• The arrangement involves upgrading 11 nuclear units across Illinois, Pennsylvania, and New Jersey within the PJM Interconnection grid, which serves 13 states
• The deal responds to PJM grid management's proposal requiring data centers to 'bring their own power' or face remote shutoff during peak demand periods

ASOS shares fell more than 11% on Tuesday following media reports that customers received push notifications claiming the British online fashion retailer had been hacked. Reuters could not immediately verify the reports, and an ASOS spokesperson acknowledged awareness but declined to confirm or comment further.

• ASOS stock dropped over 11% in response to unverified reports of a potential security breach
• Customers allegedly received push notifications stating the company was hacked, though the reports remain unconfirmed
• ASOS has not officially confirmed or denied the hack, with a spokesperson only acknowledging awareness of the reports