Flash News

TREE NEWS update: SoftBank Group booked a $3.7 billion writedown on data-center projects, including $2.85 billion in non-refundable prepayments to equipment makers for an 8 GW project in Ohio and other data centers. Power and equipment stocks fell, with GE Vernova down 9.9% and Bloom Energy, Eaton, Vertiv and Caterpillar also lower, reversing last year’s rally driven by AI data-center construction demand.

TREE NEWS reports: The US Energy Information Administration raised its 2027 average retail gasoline price forecast to $3.73 a gallon from $3.56 projected in October, citing expectations of continued tight global fuel supply. It also lifted its diesel forecast for next year to $5.03 a gallon from $4.49. The forecasts were included in the Short-Term Energy Outlook completed on November 5.

TREE NEWS update: Siemens Energy plans to repurchase up to €9 billion of its own shares through the end of 2030, the company said. The buyback program covers the period from now until the end of the decade, with the total capped at €9 billion. No further terms were disclosed.

TREE NEWS update: Grayscale plans to allocate $1 million from its Zcash ETF fees to ecosystem nonprofits and has launched a national advertising campaign, the firm said. The move comes as Zcash (ZEC) fell more than 11%. The funding is earmarked for Zcash ecosystem groups, though specific recipients were not named.

TREE NEWS reports: Nscale is considering postponing its $35 billion listing until next year following a selloff in artificial intelligence stocks. The company is weighing pushing back the listing date to next year, the material states. No further details on timing or valuation were provided.

TREE NEWS update: OpenAI has acquired Odessia, an AI travel planning platform founded earlier this year by Francis Davidson, who announced the deal and said he will join OpenAI to focus on “the future of travel.” Odessia, which helps users plan and book trips, raised a $6 million seed round in June from investors including Sequoia Capital and launched a 24/7 travel concierge service in October. Neither OpenAI nor Odessia disclosed the purchase price.

TREE NEWS reports: Nvidia has hired law firm Watchell Lipton, including partner Joon H. Kim, to investigate an extramarital affair involving CEO Jensen Huang. The investigation was confirmed in a report dated [date not provided]. The law firm’s involvement signals a formal inquiry into the matter.

TREE NEWS update: SpaceX said its contract with Singulus will support equipment with power consumption exceeding 100 GW. The company disclosed the figure without specifying the equipment type, contract value or delivery timeline. No further details were provided.

TREE NEWS update: Federal Reserve official Schmid said there will be many interesting data points to watch between now and the Fed’s December meeting. The remark points to a heavy economic data calendar ahead of the central bank’s final policy decision of the year.

TREE NEWS reports: The onshore yuan closed at 6.6805 per dollar at 03:00 Beijing time, down 81 points from Monday’s late-session close. Turnover in the onshore market totaled $36.454 billion. The pair’s move came in a session that ended in the early hours of the Asian trading day.

TREE NEWS reports: The Hang Seng Index main futures contract closed down 0.95% at 24,346 points in overnight trading. The Hang Seng Tech Index main futures contract fell 1.22% to 4,036 points in the same session.

TREE NEWS update: Kansas City Fed President Jeff Schmid said some price trends remain concerning once energy is excluded, signaling lingering inflation worries. The remark points to underlying price pressure beyond volatile energy costs. Schmid did not elaborate on specific measures or policy implications in the statement.

TREE NEWS update: US Senate Democratic Leader Chuck Schumer said Congress must pass legislation on artificial intelligence chips, including the AI Oversight Act, the Match Act and the Chip Security Act. Schumer did not specify a timeline or legislative process for the bills in the statement.

TREE NEWS update: US Senate Democratic Leader Chuck Schumer said President Donald Trump’s defense of Nvidia CEO Jensen Huang is “troubling,” in remarks that put the semiconductor giant’s leadership and its ties to the White House under fresh political scrutiny. Schumer did not elaborate on the specific conduct at issue in the statement. Nvidia is a key supplier of AI chips, a sector that has drawn increasing attention from policymakers in Washington.

TREE NEWS update: Qatar’s prime minister told G7 foreign ministers in Paris that Doha has secured “at least two weeks” to push diplomatic efforts toward reaching an understanding between Washington and Tehran. The remarks set a short window for mediation between the two sides.

TREE NEWS reports: The Malta-flagged tanker Agioi Fanendes loaded 40,000 tonnes of ultra-low-sulphur diesel at Russia’s Baltic port of Primorsk on Oct. 22, with an expected delivery date of Nov. 7, LSEG shipping data show. A week later, its manager, Greek ship-management firm Eastmed, said the vessel is underway “awaiting orders” and no discharge port has been specified or finalised. Eastmed said there is no change to the ship’s destination.

TREE NEWS update: Uphold resolved a crypto withdrawal disruption caused by an outage at its transaction-monitoring provider, the exchange said. Fiat deposits, withdrawals and trading continued normally while the platform worked around the third-party outage. The company did not disclose how long crypto withdrawals were affected or how many users were impacted.

TREE NEWS update: Goldman Sachs, Citi and a group of global banks have committed $270 million to back a U.S.-incorporated stablecoin issuer codenamed “Project Faro,” funding five years of operations. The move sees traditional lenders directly challenge crypto-native stablecoin giants Tether and Circle.

TREE NEWS reports: Shanghai crude oil futures for the 2612 contract closed night trading down 0.77% at 604.4 yuan per barrel. Shanghai gold fell 2.29% and Shanghai silver fell 3.41% in the same session.