North America:

  • Apple is embroiled in multiple legal challenges including a UK class action over App Store commissions, allegations of employee privacy violations, and workplace restrictions, alongside a reported $1 billion investment commitment to Indonesia and integrating Apple Pay with Coinbase for crypto transactions.
  • A Delaware judge ruled against reinstating Elon Musk's $56 billion compensation package, while Tesla faced a 4.3% drop in China-made electric vehicle sales, yet shares rose following positive digital shopping trends and a stock upgrade from Roth, amidst settling lawsuits with JPMorgan Chase and launching a new Tesla app for the Apple Watch.
  • European equity markets are up, particularly in France, while BlackRock's acquisitions of HPS Investment Partners and data provider Preqin face regulatory scrutiny from the UK's Competition and Markets Authority.
  • Intel CEO Pat Gelsinger's departure, whether termed as retirement or ouster, has cast uncertainty on the company's recovery strategy, despite his $12 million payout and the subsequent rise in tech stocks, as the company appoints interim co-CEOs.
  • Zscaler reported strong Q1 earnings and revenue growth, surpassing estimates, provided optimistic financial guidance for FY 2025, and announced the retirement of CFO Remo Canessa, although its shares still fell.
  • Honeywell has reduced its fourth-quarter and full-year financial forecasts and adjusted its 2024 earnings and sales projections downward due to its agreement to supply advanced aviation technology to Bombardier, negatively affecting its stock performance.
  • Microsoft is facing a 1 billion pound antitrust lawsuit in the U.K. over allegations that it imposes excessive licensing fees on customers using rival cloud software services, amidst other news of tech stock gains and internal share sales by a Microsoft executive.
  •  Jennifer Nason, JPMorgan Chase's global chair of investment banking, is set to leave the bank early next year after nearly four decades, amid a backdrop of the bank being fined for overcharging in bond trades and a decline in financial stocks.
  • General Motors is grappling with challenges including the end of a $7,500 electric-vehicle subsidy, potential 25% tariffs on imports, and multiple recalls affecting over 264,000 vehicles due to tailgate issues, alongside selling a stake in its Ultium Cells facility to LG Energy Solution.

Europe and Asia:

  • Greencore Group PLC reported a higher profit and an EPS of GBX10.10 for fiscal 2024, despite lower revenue of GBP1.81 billion, and announced a return to paying dividends along with a GBP10 million share buyback.
  • Novo Nordisk is set to showcase its hematology advancements at the ASH conference, including its HIBISCUS trial on etavopivat for sickle cell disease, while its India executives aggressively push for an early 2025 launch of Wegovy to compete with Eli Lilly's Mounjaro in the weight-loss market.
  • Carlsberg has sold its Russian business, Baltika Breweries, to two longstanding employees for $320.75 million after regaining control following the removal of its assets from a list managed by the Russian state.
  • ABB Ltd has expanded its market presence in Europe, the Middle East, and North America by acquiring Solutions Industry & Building, a construction industry manufacturer, and partnering with Cemex to upgrade electrical infrastructure at a Polish cement factory.
  • Zurich Insurance Group has completed the acquisition of AIG's travel insurance business for $600 million and is open to further acquisitions in the retail health, travel, and wellbeing sectors through its Zurich Global Ventures platform.
  • Saint-Gobain has completed the acquisition of Kilwaughter, a UK-based construction chemicals company, and expanded its production capabilities by acquiring 100% of His Yalıtım, a Turkish insulation producer, through its Turkish subsidiary İzocam.
  • Sanofi plans to invest approximately one billion euros in establishing a new insulin production facility in Beijing, China.
  • Samsung Electronics has introduced a subscription-based home appliance service, while the US Commerce Department has imposed new export controls on 140 Chinese companies involved in sectors such as chip manufacturing equipment and software tools.
  • General Motors is selling its stake in a Lansing, Michigan joint venture battery plant to LG Energy Solution, with whom it is partnering to develop prismatic battery cell technology.
  • Rio Tinto Group has partnered with Imperial College London to establish an energy transition collaboration hub and completed the sale of its Western Australia operation for AU$375 million.
  • Atlas Copco, a leading provider of sustainable productivity solutions, has acquired Metalplan Equipamentos, a Brazilian manufacturer specializing in screw compressors and related equipment.
  • In November, Indonesia's manufacturing sector contracted for the fifth consecutive month with a PMI of 49.6, while India's sector continued to expand robustly, recording a PMI of 56.5 despite a slight cooling from October.