Core Points - Amazon announced a reduction of its corporate workforce by approximately 14,000 roles [1] Company Summary - The decision to cut jobs reflects Amazon's ongoing efforts to streamline operations and manage costs in a challenging economic environment [1]

Arch Capital Group Ltd., the Bermuda-based insurer and reinsurer, has reported a 62% year-on-year rise in underwriting income to $871 million for the third quarter of 2025, driven by a significantly stronger underwriting performance in its reinsurance business.Group-wide, Arch’s combined ratio strengthened by 6.8 percentage points to 79.8% for Q3’25, as the loss ratio came down by 9.1 percentage points to 51.4%, and the expense ratio increased by 2.3 percentage points to 28.4%.Pre-tax current accident year ...

Core Insights - Amazon plans to reduce its corporate workforce by approximately 14,000 roles to streamline operations and manage costs amid rising investments in artificial intelligence [1] - The company had around 1.56 million employees at the end of the previous year, with about 350,000 in its corporate workforce [1] - Reports indicate that Amazon may cut up to 30,000 corporate jobs, addressing over-hiring during the pandemic's peak demand [2] - The restructuring affects various divisions, including books, devices, services, and the Wondery podcast division [2] - CEO Andy Jassy noted that the growing adoption of generative AI tools is expected to further reduce the corporate workforce in the coming years [3] - Companies are increasingly utilizing AI for coding and automating routine tasks to save costs and reduce reliance on human labor [3]

It can be hard to find overlooked stocks in the hottest corner of the market, but a few names might still be flying under the radar. While the AI boom may be propping up the whole economy, it's also propping up investors' portfolios, and the most popular stocks look expensive. UBS managing director Tim Arcuri said Monday that the AI trade doesn't look to be a bubble on the verge of bursting, despite concerns about huge capex by Big Tech and a relentless rally in the stock market in the past three years. ...

Core Insights - A guilty plea in a Medicaid fraud case highlights significant healthcare scams costing U.S. taxpayers billions [1] - The fraud involved billing Medicaid for services that were never provided, with one individual admitting to $1.2 million in fraudulent claims [1][2] - The U.S. Department of Justice estimates healthcare fraud costs Americans approximately $100 billion annually, while other estimates suggest it could be as high as $300 billion [3][4] Group 1: Fraud Details - Anwar Adow, through his company Liberty Plus LLC, fraudulently billed Medicaid for care not provided, exploiting the Housing Stabilization Services program [1][2] - Adow's actions included drawing vulnerable clients into the scam to collect personal information for fraudulent billing [2][3] - His brother, Asad Adow, is also implicated, accused of defrauding $2.7 million from Medicaid [3] Group 2: Impact on Healthcare Programs - The scale of fraud has led to the termination of the Housing Stabilization Services program due to widespread abuse [3] - The acting U.S. Attorney emphasized that the current system of oversight is failing, allowing fraud to overshadow legitimate services [2] Group 3: Financial Implications - The U.S. Department of Justice's estimate of $100 billion in annual healthcare fraud is considered conservative, with some experts suggesting the true cost could be significantly higher [3][4] - The National Health Care Anti-Fraud Association estimates that healthcare fraud constitutes 3% to 10% of national health expenditures, translating to around $300 billion annually [4]

Singapore telecom companies such as Singtel and Starhub have long been heralded as defensive stalwarts, prized for their steady dividends. With the 5G rollouts maturing, investors may have the following question: Will these telecom businesses revert to a low-growth cycle, or can they find new growth opportunities? The Telco Business Model in TransitionAlthough the mobile and broadband businesses provide resilient cash flows for telcos, their growth has stagnated.Mobile subscriptions in Singapore recorded a ...

Core Viewpoint - Tesla's recent communication to investors emphasizes the urgency of approving Elon Musk's $1 trillion compensation plan, framing it as essential for retaining his leadership and ensuring the company's growth potential [1][11]. Group 1: Compensation Plan Evolution - The board's initial 10-year compensation plan for Musk, valued at approximately $55 billion, was approved in 2018 but later rejected by a Delaware judge in 2024 [3]. - Following the rejection, Tesla attempted to reaffirm the plan, citing fairness and the need to honor commitments made to Musk [9]. - The 2025 proposal has shifted focus from fairness to the necessity of retaining Musk's vision and leadership, highlighting the potential loss of value for Tesla without him [11]. Group 2: Investor Communication Strategy - Tesla's chair, Robyn Denholm, has articulated that failing to provide Musk with adequate compensation could result in losing his "time, talent, and vision," which have been crucial for shareholder returns [2]. - The company has actively sought shareholder approval for the compensation package, employing advertisements and countdowns on its website to generate support [15]. - Despite opposition from institutional investors and proxy firms, Tesla's messaging has increasingly emphasized the alignment of Musk's compensation with shareholder interests and performance targets [14]. Group 3: Structural Changes in Compensation - The latest proposal allows Musk to vote with earned shares before they vest, enhancing his voting power compared to the previous stock options [12][13]. - Significant pay-for-performance measures are included in the new plan, aiming to address concerns regarding the size of the compensation by linking it to specific performance milestones [14]. - The board's independence and ability to monitor management remain points of contention, with ongoing skepticism about the governance structure [16][17].

Core Insights - MetaX, a Shanghai-based AI chip start-up, has received approval to list on Shanghai's Star Market, highlighting China's growing AI investment and its potential competition with Nvidia [1] Company Overview - Founded in 2020 by former AMD veterans, MetaX is known in Chinese as Muxi and has R&D centers in multiple cities including Beijing, Nanjing, and Shenzhen [2] - As a fabless chip designer, MetaX focuses on designing microchips rather than manufacturing them, producing N-series GPUs for AI inference, C-series chips for general computing, and G-series processors for graphics rendering [4] Product Development - The latest flagship processor, MetaX C600, launched in July, features HBM3e high-bandwidth memory and supports FP8 precision for efficient AI model training, with 144GB of memory and mass production expected by year-end [5] Financial Backing - MetaX has raised over 10 billion yuan (approximately US$1.4 billion) across nine funding rounds, achieving a valuation of 21 billion yuan in its latest round, supported by notable venture capital firms and state-linked investors [6][7] IPO Plans - The company aims to raise 3.9 billion yuan through its IPO to fund the development and industrialization of next-generation high-performance GPUs and AI-inference GPU projects [8]

Core Insights - HSBC Holdings reported a third-quarter net profit of US$4.58 billion, a 25% decline compared to the previous year, missing analysts' expectations of US$5.38 billion [2] - The bank's pre-tax profit fell 14% year-on-year to US$7.3 billion, also below the expected US$7.66 billion [3] - Revenue increased by 5% to US$17.8 billion, primarily driven by higher fee income in wealth and insurance sectors [3] Financial Performance - The net profit for the quarter ending in September was US$4.58 billion, or 28 US cents per share [2] - A one-off provision of US$1.1 billion was set aside to settle a lawsuit related to Bernie Madoff's fraud [2] - HSBC recorded US$1 billion in expected credit losses, consistent with the previous year, including US$200 million related to the commercial real estate market in Hong Kong [6] Strategic Outlook - CEO Georges Elhedery emphasized the bank's transformation into a "simple, more agile, focused bank" during its 160th anniversary in Hong Kong [4] - The bank anticipates a return on tangible equity, excluding notable items, to be in the mid-teens or better by 2025 [5] - A third-quarter dividend of 10 US cents per share was announced, leading to a 3% increase in stock price to HK$105.20 [5]

Core Insights - China experienced a significant increase in ultra-wealthy individuals, with a record 1,434 individuals on the Hurun Rich List, marking a 31% increase from the previous year [1][6] - The collective wealth of these individuals reached 30 trillion yuan, reflecting a 42% rise compared to last year [2] - The surge in wealth is attributed to a bull market in stocks and the emergence of leaders from "new economy" companies [1][7] Individual Wealth Highlights - Zhong Shanshan reclaimed the top position with a fortune of 530 billion yuan, a 56% increase [3] - Zhang Yiming, founder of ByteDance, fell to second place despite a 34% increase in his wealth to 470 billion yuan [4] - Li Ka-shing and his son Victor Li saw their wealth rise 18% to 235 billion yuan, although they dropped from sixth to ninth place overall [5][8] Market Dynamics - The record number of individuals on the Hurun list is largely driven by a strong rally in stock markets [6] - The technology sector's growth and increased exports contributed to the expansion of the billionaire club [7]