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Sonos Chief Product Officer to Leave; Interim CEO to Take Role

(Bloomberg) -- Sonos Inc. Chief Product Officer Maxime Bouvat-Merlin is leaving the audio technology company, following Monday’s exit of the chief executive officer amid the fallout from the failure of its app revamp, according to a person with knowledge of the matter. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesBouvat-Merlin, who has been product chief since 2023, will re

Bloomberg 52 minutes ago

SONO

Intel to Turn Venture Arm Into Separate Business With New Name

(Bloomberg) -- Intel Corp., the once-dominant chipmaker struggling to revive its business and finances, plans to turn its venture capital arm into a separate fund with a new name. Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesThe chipmaker will continue to be an “anchor investor in the new company,” according to a statement Tuesday. The division, currently known as Intel Cap

Biopharma industry eyes 2025 bounceback, grapples with uncertainty over Trump return

The biopharmaceutical industry is aiming for a 2025 reversal of last year's slump in investor returns but remains wary over what President-elect Donald Trump's priorities might be on hot button issues such as drug pricing reforms and vaccines. The pharma industry faced its biggest regulatory change in decades with the Biden Administration's Inflation Reduction Act of 2022, which allowed the federal government's Medicare health plan for the first time to negotiate prices for its costliest prescription drugs.

ChatGPT Will Soon Be Able to Remind You to Walk the Dog

(Bloomberg) -- OpenAI plans to roll out an early version of a new ChatGPT feature that lets users schedule simple tasks to be completed later, as the startup works to turn its popular chatbot into a more dynamic digital assistant that competes with the likes of Amazon’s Alexa.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesThe feature, announced on Tuesday, will let users ask

EIA expects oil prices to be under pressure from oversupply in 2025, 2026

NEW YORK (Reuters) -Oil prices will be under pressure over the next two years as global production growth outpaces demand, the U.S. Energy Information Administration said on Tuesday in its Short-Term Energy Outlook report. Many analysts expect an oversupplied oil market this year, after demand growth slowed sharply in 2024 in the biggest energy-consuming countries: the U.S. and China. The EIA said it expects Brent crude oil prices to fall 8% to average $74 a barrel in 2025, then fall further to $66 a barrel in 2026.

Trump wants to 'save' TikTok. One rescuer could be Elon Musk.

Chinese government officials have reportedly discussed selling TikTok's US operations to Elon Musk. Antitrust experts predict that the owner of X could clear any US legal hurdles if such a deal were to happen.

Google's next big bet: Taking drone deliveries mainstream

Wing Aviation, the drone delivery arm of Google parent Alphabet, is competing with players like Amazon, Walmart, and UPS to win over the multibillion-dollar drone delivery business.

Top plays among the 'Magnificent 7' and Big Tech stocks as Trump returns to the White House

Magnificent 7 stocks may be poised for gains as President-elect Donald Trump returns to the White House.

Federal regulators just got a new sign that their power is weakening

US regulators in Washington got another warning about the new limits of their power when an Ohio appeals court struck down federal 'net neutrality' rules this month.

Qualcomm CEO hints at future high-powered PC chips

Qualcomm CEO Cristiano Amon says the company will be targeting high-performance PCs and is looking at the graphics space.

Nvidia stock sell-off: Time to back up the truck?

Nvidia is selling off. What's your plan of action?

The 3 biggest takeaways from CES 2025

CES 2025 has come and gone. But it brought us a ton of intriguing new technologies to look forward to in the year ahead.

Nvidia’s 'AI Godfather' forces a reset on the tech world’s next big bet: Morning Brief

The money-making potential for quantum computing is so far away, Wall Street isn't sure what to make of it.

Yahoo co-founder Jerry Yang: Masayoshi Son is recasting himself into an AI player with his $100 billion bet

SoftBank billionaire Masayoshi Son has pledged to invest $100 billion in the US over the next four years. Masa's longtime friend and Yahoo co-founder Jerry Yang weighs in on the pledge.

Why Nvidia rug pull doesn't faze US stock market bulls: Morning Brief

Nvidia's 6% loss Tuesday was especially painful for the company given it followed a splashy CES event with big announcements. But the market has good reason to shake off its swings.

OpenAI Appoints BlackRock Executive Ogunlesi to Board

(Bloomberg) -- OpenAI has appointed BlackRock Inc. executive Adebayo Ogunlesi to its board of directors, drawing on his experience investing in infrastructure as the startup pushes for more data centers and energy resources to support the development of artificial intelligence.Ogunlesi, a senior managing director and board member at BlackRock, joined the asset management firm last year after it acquired his company, Global Infrastructure Partners, for roughly $12 billion — a deal that made him a

China Weighs Sale of TikTok US to Musk as a Possible Option

(Bloomberg) -- Chinese officials are evaluating a potential option that involves Elon Musk acquiring the US operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsA Blueprint for Better Bike LanesBeijing officials strongly prefer that TikTok remains under the ownership of par

Analysis-Russia's Arctic oil feels the chill from U.S. sanctions

Russia's vast Arctic oil business is facing major disruption from U.S. sanctions on its tankers and depots, stranding crude supplies previously snapped up by Asian buyers in storage, according to three sources familiar with its logistics. The sanctions unveiled on Friday are the toughest yet on Russia's oil sector, targeting major producers Gazprom Neft and Surgutneftegas as well as 183 vessels that have shipped Russian oil. Three sources who spoke to Reuters on condition of anonymity said all three of Russia's Arctic oil grades - Novy Port, ARCO and Varandey, with about 300,000 barrels of output per day - face disruption.

Trump wants to 'save' TikTok. One rescuer could be Elon Musk.

Peru's niche Bretaña crude oil gains popularity in US

Peru's niche Bretaña crude oil is gaining popularity in the United States, with the first cargo discharging in the U.S. Gulf Coast this month as U.S. refiners seek alternatives for declining Mexican heavy crude. Bretaña, a rare heavy sweet crude with minimal metals, is produced in the Peruvian side of the Amazon rainforest. The vessel Radiant Pride transported about 300,000 barrels of Bretaña from Manaus, on the banks of the Negro river in Brazil, and discharged on Jan. 2 in Houston, ship tracking data from Kpler and LSEG showed.

Morning Bid: Markets catch a break before inflation, earnings

Thanks largely to a stabilisation of bond markets and an ebbing of the super-strong dollar, global stocks caught a rare new year bid on Tuesday with critical inflation and corporate earnings updates now in view. A slightly bizarre narrative developed behind Monday's bounce in stocks, with some citing a Bloomberg report claiming President-elect Donald Trump's team is studying gradual tariff hikes - using emergency legislation to boost import duties 2%-5% per month until they wreak concessions from trade partners. With December producer and consumer price reports due out today and Wednesday, respectively, 10-year benchmark Treasury yields have dialled back from 14-month highs above 4.8% hit on Monday and 30-year 'long bond' yields are balking at 5% for now.