Business news

• China's Xi reasserts Taiwan stance in call with Trump, while U.S. president pushes trade - Beijing stressed Taiwan is the most important issue while Trump highlights the trade aspects of the bilateral relations.
• Shares of Arm plunge 8% after licensing revenue misses estimates, Qualcomm outlook adds pressure - Shares of UK-based semiconductor designer Arm Holdings fell in aftermarket trading, despite the company posting record revenues amid AI demand.
• Oil slides in volatile trading as upcoming U.S.-Iran talks revive de-escalation hopes - Oil prices fell on Thursday after Washington and Tehran agreed to hold talks in Oman on Friday, even as differences persist over the scope of the discussions.
• Asia markets mostly fall, tracking Wall Street losses as tech sell-off continues - In Asia, investors will keep an eye on tech and tech-related stocks in the region to watch for any spillover.
• Alphabet resets the bar for AI infrastructure spending - The search giant's proposed capex spend for 2026 exceeds that of its hyperscalers peers.
• Qualcomm stock sinks as memory shortage drags on forecast - "We're starting to see that memory is going to define the size of the mobile market," Qualcomm CEO Cristiano Amon said in an interview.
• Alphabet earnings are out – here are the numbers - Wall Street will be looking for more details Google's deal to revamp Apple's Siri virtual assistant with the search company's Gemini AI models.
• Hedge funds made $24 billion shorting software stocks so far in 2026 — And they are increasing the bet - Hedge funds are increasing their short bets against software stocks, contributing to the brutal sell-off in the space so far this year, according to sources at two major funds on Wall Street.
• Senate Banking Chair Tim Scott believes Fed Chair Powell committed no crime in testimony - President Donald Trump recently said the investigation into Jerome Powell, led by U.S. Attorney for Washington Jeanine Pirro, should continue to the end.
• U.S. plans critical mineral price floors with Mexico, EU and Japan - The Trump administration has put critical minerals at the heart of its trade and industrial policies in an effort to reduce dependence on China.