Category: 3. Business

Washington, DC: An IMF staff team led by Jesmin Rahman visited Kampala from November 3 to 7 to conduct Uganda’s post-financing assessment (PFA).[1] 

Economic growth was broad-based, reaching 6.3 percent in FY2024/25. Inflation remains stable and below the 5 percent medium-term target of the Bank of Uganda (BoU). Gross international reserves strengthened, supported by higher exports, capital inflows, and stepped-up foreign exchange purchases by the BoU.

The fiscal position deteriorated significantly in FY2024/25 due to higher current spending, including one-off items. Macroeconomic conditions are expected to remain favorable in the near term, with further improvement anticipated once oil production begins in FY2026/27. However, the outlook is subject to downside risks, including global trade and financial uncertainties as well as fiscal policy slippages.

The staff team assessed Uganda’s capacity to repay the IMF as adequate under a combination of external and domestic shocks. The IMF team thanks the authorities for their productive engagement and hospitality.

The IMF Executive Board is expected to consider Uganda’s PFA in January 2026. 

 

[1] A Post Financing Assessment (PFA) is expected for countries with outstanding credit above the absolute or quota-based thresholds that do not have an IMF-supported program or a staff-monitored program. It reports on the member’s policies, the consistency of the macroeconomic framework with the objective of medium-term viability, and the implications for the member’s capacity to repay the Fund. PFA Factsheet.

 

 

Artificial intelligence company Anthropic announced a $50bn investment in computing infrastructure on Wednesday that will include new datacenters in Texas and New York.

“We’re getting closer to AI that can accelerate scientific discovery and help solve complex problems in ways that weren’t possible before,” Anthropic’s CEO, Dario Amodei, said in a press release.

Building the massive information warehouses takes an average of two years in the US and requires copious amounts of energy to fuel the facilities. The company, maker of the AI chatbot Claude, popular with businesses adopting AI, said in a statement that the “scale of this investment is necessary to meet the growing demand for Claude from hundreds of thousands of businesses while keeping our research at the frontier”. Anthropic said its projects will create about 800 permanent jobs and 2,400 construction jobs.

The startup said it is working with London-based Fluidstack to build the new computing facilities to power its AI systems. It didn’t disclose their exact locations or what source of electricity the facilities will need.

The latest deals show that the tech industry is moving forward on huge spending to build energy-hungry AI infrastructure, despite lingering financial concerns about a bubble, environmental considerations and the political effects of fast-rising electricity bills in the communities where they’re constructed. Another company, cryptocurrency-mining datacenter developer TeraWulf, has previously revealed it was working with Fluidstack on Google-backed datacenter projects in Texas and New York, on the shore of Lake Ontario.

Microsoft also on Wednesday announced a new datacenter under construction in Atlanta, Georgia, describing it as connected to another in Wisconsin to form a “massive supercomputer” running on hundreds of thousands of Nvidia chips to power AI technology.

A report last month from TD Cowen said that the leading cloud computing providers leased a “staggering” amount of US datacenter capacity in the third fiscal quarter of this year, amounting to more than 7.4GW of energy, more than all of last year combined.

The tech industry’s huge amount of spending on computing infrastructure for AI startups that aren’t yet profitable has fueled concerns about an AI investment bubble.

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Investors have closely watched a series of intertwined deals over recent months between top AI developers such as OpenAI and Anthropic and the companies building the costly computer chips and datacenters needed to power their AI products. Anthropic said it will continue to “prioritize cost-effective, capital-efficient approaches” to scaling up its business.

Alphabet’s Waymo said on Wednesday that it will begin offering robotaxi rides that use freeways across San Francisco, Los Angeles and Phoenix, a first for the Google subsidiary as it steps up expansion amid global and domestic competition in the self-driving industry.

Freeway rides will initially be available to early-access users, Waymo said. “When a freeway route is meaningfully faster, they can be matched with a freeway trip, providing quicker, smoother, and more efficient rides,” it said.

Waymo, which already operates in parts of the San Francisco Bay Area, is also extending operations to San Jose, including Mineta San Jose international airport, the second airport in its service area after Phoenix Sky Harbor.

The move comes as Tesla expands its robotaxi service with safety monitors and drivers, and Zoox – backed by Amazon – offers free robotaxi rides on and around the Las Vegas Strip.

Waymo is the only company that runs a paid robotaxi service in the US, a fleet of more than 1,500 vehicles, without safety drivers or in-vehicle monitors. Waymo first began offering paid rides in Phoenix, Arizona in 2020 about 11 years after the company, formerly known just as Google’s self-driving car project, first began working on developing and testing out autonomous technology.

Waymo has been growing slowly but steadily over the years, and the company, like its rivals, has faced federal investigations over unexpected driving behavior.

Freeway driving is relatively less complicated than navigating the many variables of a city street but introduces a new set of factors the vehicles have to maneuver around at much faster speeds, including other merging vehicles and how to exit. While operating autonomous vehicles is more challenging in a city with pedestrians, frequent intersections and unpredictable situations, any mistakes or malfunctions at high speeds on a freeway could have severe consequences. The company said it had developed new freeway protocols with local highway patrols and safety agencies.

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While Tesla has long offered driver-assist features on freeways, the move will make Waymo the first company to offer driverless rides on a freeway.

SANTA CLARA, Calif.–(BUSINESS WIRE)–
Intel Corporation today announced that John Pitzer, corporate vice president, Global Treasury and Investor Relations, will participate in fireside chats to discuss Intel’s business and strategy at the following investor events:

• On Nov. 18 at 12:20 p.m. PT: RBC Capital Markets Global Technology, Internet, Media and Telecommunications (TIMT) Conference.

• On Dec. 4 at 7:55 a.m. PT: UBS Global Technology and AI Conference.

• On Dec. 10 at 11:35 a.m. PT: Barclays Global Technology Conference.

Live webcasts and replays can be accessed publicly on Intel’s Investor Relations website at intc.com.

Intel’s participation, speakers and schedule are subject to change.

About Intel

Intel (Nasdaq: INTC) designs and manufactures advanced semiconductors that connect and power the modern world. Every day, our engineers create new technologies that enhance and shape the future of computing to enable new possibilities for every customer we serve. Learn more at intel.com.

© Intel Corporation. Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251109729056/en/

Contacts:

Investor Relations

investor.relations@intel.com

Sophie Metzger

Media Relations

sophie.metzger@intel.com

Source: Intel Corporation

Released Nov 12, 2025 • 4:30 PM EST

Prediction markets offered through the FanDuel Predicts app, will provide customers the ability to trade event contracts on global benchmarks and economic indicators, with sports outcome contracts available in non-online sports betting states.

NEW YORK AND CHICAGO, November 12, 2025 –FanDuel, the premier online gaming company in North America, part of Flutter Entertainment (NYSE: FLUT, LSE: FLTR), and CME Group (NASDAQ: CME), the world’s leading derivatives marketplace, unveiled that they will launch prediction markets through the new FanDuel Predicts app that will expand access to financial markets for millions of customers in the United States.  

FanDuel Predicts will launch in December as a standalone mobile application. Subject to appropriate regulatory filings, the app will provide access to sports event contracts across baseball, basketball, football, and hockey. In states where online sports betting is not yet legal, customers who are not on tribal lands will be able to trade event contracts on the outcome of sporting events. As new states legalize online sports betting, FanDuel will cease offering sports event contracts in those states. In addition to sports, event contracts will be offered on benchmarks such as the S&P 500 and Nasdaq-100, prices of oil and gas, gold, cryptocurrencies, and key economic indicators such as GDP and CPI.

FanDuel will extend its industry-leading consumer protection program to the FanDuel Predicts app. The platform will empower customers to trade responsibly with tools to help manage exposure, track spending and make informed trading decisions. Within the app, customers will find educational resources to learn about prediction markets and how to buy and sell event contracts. Customers may set deposit limits and deposit alerts that apply to all FanDuel products and may self-exclude, just as they can on all FanDuel products today.

“We can’t wait to bring FanDuel’s proven approach to market innovation into this dynamic sector,” said Amy Howe, CEO at FanDuel. “Our partnership with CME Group allows us to leverage their deep market expertise built over decades while delivering the seamless, accessible experience our customers expect.”

“Our new event contracts on benchmarks, economic indicators and now sports will appeal to a new generation of potential participants who are not active in these markets today,” said CME Group Chairman & Chief Executive Officer Terry Duffy. “This launch will dramatically expand our distribution and reach, connecting directly with FanDuel’s millions of registered U.S. users.”

When customers sign up for FanDuel Predicts, they will undergo FanDuel’s thorough “Know Your Customer” sign up process providing information including their birth date, Social Security number, home address, banking information and a valid ID. Once the account is created, they will then be able to buy or sell event contracts ranging in price from as little as $0.01 to $0.99.

About The Partnership
This groundbreaking alliance combines FanDuel’s market-leading customer experience and mobile technology with CME Group’s 100+ year expertise in derivatives and risk management, creating a unique platform that bridges entertainment and financial markets.

About FanDuel 
FanDuel Group is America’s premier mobile gaming company, consisting of a portfolio of leading brands across mobile wagering including America’s #1 Sportsbook FanDuel Sportsbook, its leading iGaming platform FanDuel Casino, the industry leader in horseracing and advance-deposit wagering FanDuel Racing, and its daily fantasy sports product. In addition, FanDuel Group operates FanDuel TV, its broadly distributed linear cable television network, and FanDuel TV+, its leading direct-to-consumer OTT platform. FanDuel Group has a presence across all 50 states with approximately 17 million customers and 25 retail locations. The company is based in New York with offices in Los Angeles, Atlanta, and Jersey City. 

About CME Group 
As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“S&P DJI”). “S&P®”, “S&P 500®”, “SPY®”, “SPX®”, US 500 and The 500 are trademarks of Standard & Poor’s Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.

Media Contacts:

Alex Pitocchelli, FanDuel

press@fanduel.com

Laurie Bischel, CME Group

news@cmegroup.com           

Investor Contacts:

Paul Tymms, Flutter

Ciara O’Mullane, Flutter

Chris Hancox, Flutter

investor.relations@flutter.com  

 

Adam Minick, CME Group

investors@cmegroup.com

CME-G

Transaction streamlines Edgewell’s portfolio and allows the personal care brand to focus on areas of competitive leadership

SHELTON, Conn., Nov. 12, 2025 /PRNewswire/ — Edgewell Personal Care Company (NYSE: EPC) today announced that it has entered into a definitive agreement to sell its feminine care business to Essity, a leading global health and hygiene company based in Sweden, for $340 million.

The transaction is expected to close in the first quarter of calendar 2026, subject to customary closing conditions, including the receipt of required regulatory approvals. Edgewell’s feminine care business includes Playtex®, Stayfree®, Carefree® and o.b.®. Edgewell intends to use the net proceeds from the sale, after taxes and transaction costs, primarily to strengthen its balance sheet while continuing to invest in the long-term growth of its core businesses.

“This transaction marks a pivotal step in Edgewell’s transformation. By selling our Feminine Care business to Essity, we are sharpening our focus on our core categories, strengthening our financial position, and positioning Edgewell for sustainable, long-term growth,” said Edgewell President and CEO Rod Little. “This is a win for our shareholders who will benefit from a more agile and focused company; for our customers, who will continue to receive innovative products and dedicated service; and for our employees, who will have new opportunities for growth and success with Essity, a global leader in health and hygiene.”

“I’m excited to further grow these well-known brands by welcoming them into our bold and purpose-driven feminine care business. With this acquisition we are building a stronger personal care business in North America, in line with our strategy to focus on high yielding categories in attractive geographies,” says Ulrika Kolsrud, President and CEO of Essity.

Edgewell will work closely with Essity to ensure a smooth transition for employees, customers, and consumers of the Feminine Care business. Edgewell has agreed to provide Essity with certain services to support the transition of the business following the completion of the transaction.

Beginning in the first quarter of fiscal 2026, Edgewell will classify the Feminine Care business as discontinued operations. Following the transaction, Edgewell expects to incur certain stranded overhead costs, which for fiscal 2026, will be substantially offset by income generated from the provision of transition support services to Essity. For context, the Company expects the impact of Feminine Care business sale on an annualized basis to be approximately $0.40 to $0.50 cents in adjusted EPS and $35 to $45 million in adjusted EBITDA, net of such income.

Advisors
Perella Weinberg Partners LP is serving as financial advisor to Edgewell. Latham & Watkins LLP is serving as legal advisor to Edgewell.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the anticipated timeline for closing of the transaction, our anticipated uses of net proceeds from the transaction, anticipated benefits of the transaction to us and our stakeholders, entry into and the obligations under the transition services agreement following the transaction, and our strategy, future financial results, and competitive position. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the risk that the parties may be unable to close the transaction on anticipated timelines or at all; the failure to obtain regulatory approvals or satisfy other conditions to closing required in connection with the transaction; costs associated with the transaction and the potential that it may not have the anticipated impact on our business; the risk that disruptions from the transaction will harm business plans and operations; our ability to compete in products and prices, as well as costs, in an intensely competitive industry; the loss of any of our principal customers or changes in the policies of our principal customers; our inability to design and execute a successful omnichannel strategy; our ability to attract, retain and develop key personnel; fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation; as well as the other factors described in our Annual Report on Form 10-K for the year ended September 30, 2024, as will be updated in our Annual Report on Form 10-K for the year ended September 30, 2025 and as may be further updated in the Company’s other filings with the Securities and Exchange Commission. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

About Edgewell Personal Care
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men’s and women’s shaving systems and disposable razors; Edge and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,700 employees worldwide.

About Essity
Essity is a global, leading hygiene and health company with products, solutions and services used by a billion people around the world every day. Essity’s purpose is to break barriers to well-being for the benefit of consumers, patients, caregivers, customers and society. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands such as Actimove, Cutimed, JOBST, Knix, Leukoplast, Libero, Libresse, Lotus, Modibodi, Nosotras, Saba, Tempo, TOM Organic and Zewa. In 2024, Essity had net sales of approximately SEK 146bn (EUR 13bn) and employed 36,000 people. The company’s headquarters is located in Stockholm, Sweden and Essity is listed on Nasdaq Stockholm.

SOURCE Edgewell Personal Care Company

• GACA to align with FAA certification standards to develop streamlined regulatory pathways for air taxi service in the Kingdom

• Agreement advances Saudi Kingdom’s Vision 2030 goals to modernize economy and infrastructure

• Builds on Joby’s agreement with Abdul Latif Jameel to explore delivery of up to 200 of its aircraft in Saudi Arabia

SANTA CRUZ, Calif. & RIYADH, Saudi Arabia–(BUSINESS WIRE)–
Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, and the General Authority of Civil Aviation (GACA) of the Kingdom of Saudi Arabia today announced plans for the rapid deployment of Joby’s electric air taxi in the Kingdom. A new memorandum of understanding between GACA and Joby will use Federal Aviation Administration (FAA) certification standards as a foundation to create a streamlined approval process for Joby’s aircraft in Saudi Arabia, positioning the Kingdom at the forefront of advanced air mobility. Saudi Arabia joins the U.S., the U.K., Japan, South Korea and the UAE as another key launch market for Joby’s air taxi service.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112412885/en/

“We’ve been collaborating with the FAA since 2016 on the certification and the commercial operations of our aircraft, and we’re now putting those standards to work on a global scale,” said JoeBen Bevirt, founder and CEO of Joby. “We look forward to partnering with GACA on this bold endeavor: to bring quiet, fast and convenient air mobility to Saudi Arabia.”

“This partnership represents a critical step in advancing the Kingdom’s AAM ambitions. Our focus is not only on bringing future technologies to Saudi Arabia, but on building the knowledge and know-how required to sustain them. By localizing key elements of manufacturing and developing highly qualified national talent, we are creating an ecosystem that enables innovation to thrive. Supported by a robust and forward-looking regulatory framework, this initiative reinforces the Kingdom’s leadership in shaping the future of aviation, in alignment with the AAM roadmap derived from the Aviation Programme in the National Transport and Logistics Strategy,” said Captain Sulaiman bin Saleh Al-Muhaimedi, Executive Vice President of Aviation Safety and Environmental Sustainability at (GACA).

To support the development of the Kingdom’s air taxi regulatory framework, Joby and GACA will focus on three core initiatives based on Joby’s FAA certification efforts:

• Provide technical expertise across type design, production, and operational domains to inform the development of a comprehensive regulatory framework that ensures the safe, efficient, and scalable deployment of advanced air mobility aircraft within the Kingdom.

• Collaboration on airworthiness standards, ensuring an efficient validation process of the FAA Type Certification.

• Development and harmonization of key regulations to enable the initial phase of operations, including pilot licensing, maintenance, and airspace integration frameworks.

Joby is setting the pace for the industry in progressing toward regulatory approval of its aircraft, positioning it as an effective partner to other countries for air taxi development. In the U.S., Joby is nearing the final phase of FAA Type Certification, which involves FAA test pilots directly assessing the aircraft’s performance and safety. Globally, Joby was deeply engaged in the development of the NAA Network’s five-nation roadmap, which aims to create global certification standards for advanced air mobility.

Joby’s broader commercialization strategy in Saudi Arabia includes key partnerships with Abdul Latif Jameel, which is exploring delivery of up to 200 Joby aircraft valued at approximately $1 billion, and Aloula Aviation (formerly Mukamalah Aviation), the aviation subsidiary of Saudi Aramco. The announcement also builds on the renewed economic partnership between the U.S. administration and the Saudi government following U.S. President Trump’s visit to Saudi Arabia in May of this year.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com.

About GACA

The General Authority for Civil Aviation (GACA) is the national civil aviation regulator for Saudi Arabia. GACA is responsible for delivering world-leading regulatory services that enhance competition, safety, security and sustainability in civil aviation globally. GACA enables Saudi Arabia to lead the world through aviation, providing world-class regulations, ensuring compliance and performance, ensuring competition and growth and protecting passengers.

GACA coordinates the implementation of the Saudi Aviation Program. The Program is transforming the entire Saudi aviation ecosystem to become the number one aviation sector in the Middle East, enabled by Vision 2030 and in line with the Kingdom’s National Transport and Logistics Strategy. The Program is unlocking US$100 billion in private and government investment across the Kingdom’s airports, airlines, and aviation support services. The Program will extend Saudi Arabia’s connectivity to 250 destinations, triple annual passenger traffic, establish two global long-haul connecting hubs, and increase air cargo capacity.

Forward-Looking Statements ​​

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing; our business plan, objectives, goals and market opportunity; plans to certify and operate our aircraft in Saudi Arabia, and the potential sale of up to 200 aircraft valued at approximately $1 billion under the partnership with Abdul Latif Jameel; plans for, and potential benefits of, our strategic partnerships; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including the expected benefits of our vertically-integrated business model. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our air taxi service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project; complexities related to obtaining certification and operating in foreign markets; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2025, our Quarterly Reports on Form 10-Q filed with the SEC on May 8, 2025 and August 7, 2025, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251112412885/en/

Media Contact:

Charles Stewart

press@jobyaviation.com

Investor Contact:

investors@jobyaviation.com

Source: Joby Aviation, Inc.

Released November 12, 2025