Category: 3. Business

In a video interview a few hours ahead of Palantir’s earnings, Karp flailed his arms excitedly around as he spoke about the defense tech and AI software company’s results. “These numbers validate we were right. Please learn from us. That’s what these numbers mean,” Karp told Fortune in the interview. 

“These are not normal results. These are not even strong results,” Karp continued later on Monday, during the company’s earnings call. “These aren’t extraordinary results. These are arguably the best results that any software company has ever delivered.”

After soaring roughly 400% over the past year, however, shares of Palantir took a time out on Monday despite the strong results. The stock initially rose after the earnings were released on Monday, according to Bloomberg, but then slid about 3.5% in after-hours trading.

Palantir posted third-quarter revenue of roughly $1.2 billion, up 63% from the year-ago period, and above the average analyst expectation of $1.09 billion, according to Bloomberg. The company’s $476 million in net income, was up 40 percent year-over-year.  While Palantir’s government contracts business remains strong, business from U.S. commercial customers drove the company’s growth in the third quarter, expanding by 121% year-over-year to $397 million.  

Karp described the numbers on Monday’s earnings call as more akin to a venture-backed company than a public one, highlighting the “Rule of Forty” metric in Palantir’s quarterly earnings deck, which is a financial metric calculated by combining the year-over-year revenue growth rate and adjusted operating margin. In general, 40% is considered strong performance. This quarter, Palantir’s “Rule of Forty” was 114%, even higher than its last quarter, which was 94%.

Palantir’s revenue figures are still quite small compared to peers of similar market capitalization. And the company’s rich valuation has stoked skepticism among some investors worried about an AI bubble. Regulatory filings from Monday reveal that Michael Burry, the esteemed short seller known for his big bet against the subprime mortgage market in 2008, has taken out a short position in both Palantir and NVIDIA. Palantir and NVIDIA last week announced that they had struck a partnership, where Palantir will combine NVIDIA chips and software with its tech platform for some of its customers. Palantir said last week that home improvement retailer Lowe’s was already incorporating this into its tech stack, but the software company declined on Monday to share other companies that had rolled that out. 

True to form, Karp delved into a couple touchy subjects on Monday’s earnings call, including the Administration’s recent focus on drug traffickers in South America.

“Let me say something slightly political,” Karp said. “And I’m not saying other people agree with this, but when people are attacking our soldiers for stopping fentanyl from coming into this country, I want people to remember if fentanyl was killing 60,000 Yale grads instead of 60,000 working class people, we’d be dropping a nuclear bomb on whoever was sending it from South America.”

Karp’s shareholder letter from this quarter—his fifteenth musing to shareholders and Palantir enthusiasts—was also biting. In the letter, Karp suggested that there had been a “rejection of any shared and defined sense of common culture, in this nation and others,” and that this “has had significant costs.”

But more than anything, Karp seemed to revel in the numbers themselves—and rubbing them in the faces of those he says have perhaps been too skeptical.

“Some of our detractors have been left in a kind of deranged and self-destructive befuddlement,” he wrote in the letter, before going on to reference a British film director and later the poet William Butler Yeats.

As expected, the Reserve Bank of Australia (RBA) has kept the cash rate steady at 3.6%. Its board unanimously agreed it was better to “remain cautious” on interest rates.

While borrowers may have been hoping for rate relief, the decision came as little surprise to economists and markets, after stronger-than-expected inflation data – something the board’s statement emphasised, along with local and global uncertainty.

“Inflation has fallen substantially since the peak in 2022 […] but more recently, inflation has picked up,” the board noted, describing the September quarter figures released last week as “materially higher than expected”.

For many mortgage holders, this marks another month of frustration. Three rate cuts earlier this year offered some respite, but not enough to offset the sharp rise in interest rates since the tightening cycle began in mid-2022.

There is another RBA meeting in early December. But today’s board statement suggest borrowers have longer to wait for any further relief.

Don’t expect a rate cut soon

Financial markets and the major banks share the RBA’s cautious tone. The big four banks were already expecting the next rate cut in 2026, reflecting their view that inflation will take longer to return comfortably to target.

Market pricing also points to a prolonged pause. Traders have scaled back expectations of near-term easing, and interest rate futures now imply only modest reductions through next year.

Some economists are even warning the RBA might be forced to raise rates, either next year or in 2027.

In short, the era of cheap money isn’t returning quickly.

Inflation still running hot

The latest inflation data released last week showed headline inflation back above the RBA’s 2–3% target band, and the bank’s preferred measure – the trimmed mean – sitting right on the upper edge of that range. Prices are still rising faster than the RBA is comfortable with.

While prices for some goods, such as furniture and electronics, have eased, costs for housing, insurance, health care and education continue to rise. This persistence explains why the RBA is reluctant to loosen policy.

As the latest board statement put it:

the recent data on inflation suggest that some inflationary pressure may remain in the economy […] Financial conditions have eased since the beginning of the year, but it will take some time to see the full effects of earlier cash rate reductions.

The bank has repeatedly said it needs sustained evidence that inflation is moving towards the midpoint of its target. For now, that evidence is still missing – and today’s decision reinforces that message.

Growth and jobs show resilience

Economic growth remains modest but stronger than expected. The Australian Bureau of Statistics’ gross domestic product figures show the economy grew 1.8% over the year to June 2025 – the strongest result in two years and well above expectations.

Growth continues to be supported by business investment and population gains. Household spending, though soft, hasn’t collapsed despite cost-of-living pressures.

The labour market also remains firm. Unemployment has ticked up but is still low at 4.5% in September.

Ahead of today’s board decision, RBA Governor Michele Bullock also said the jobs market remains “a little tight”, meaning many businesses are struggling to find workers – a factor that keeps upward pressure on wages and prices.

Until the bank sees clearer signs of cooling – such as slower wage growth or a sustained lift in unemployment – it is unlikely to risk cutting rates.

Bullock has stressed that future moves will depend on the data. With the next quarterly consumer price index data due out in early January, the bank will be watching for clearer signs that inflation in both goods and services is easing.

The bigger picture

Overseas, the US Federal Reserve cut its policy rate at its October 2025 meeting, bringing the target range to 3.75–4.0%. Yet Fed Chair Jerome Powell struck a hawkish tone, warning further cuts aren’t guaranteed and will depend on incoming data.

That cautious stance mirrors the RBA’s own. Both central banks want to avoid declaring victory over inflation too early, especially with ongoing risks from energy prices, supply disruptions and tight labour markets.

With the European Central Bank and Bank of England also adopting a wait-and-see approach, the RBA remains broadly in step with its global peers.

For now, the bank sees more risk in moving too soon than in waiting a little longer. A premature cut could reignite price pressures and undo the progress made since 2023.

For homeowners, that means high borrowing costs are likely to persist for some time yet. It’s a disappointing Melbourne Cup Day for mortgage holders – but for the RBA, caution still wins the race.

At DFA Design for Asia Awards 2025, Canon wins Grand Award for EOS R50 V APS-C mirrorless camera and Silver Award for EOS R1 full-frame mirrorless camera

TOKYO, November 4, 2025—Canon Inc. announced today that it received the Grand Award for its EOS R50 V, an APS-C mirrorless camera, and the Silver Award for its EOS R1, a full-frame mirrorless camera, at DFA Design for Asia Awards 2025 hosted by the Hong Kong Design Centre (HKDC).

The EOS R50 V, which received the Grand Award, is an APS-C mirrorless camera aimed at video creators seeking to broaden their range of visual expressions. Its advanced video shooting capabilities and design optimized for content creation are tailored to meet demand for video recording and livestreaming . The device comes with a smooth grip shape perfect for one-handed selfies or vertical shooting, and allows users to hold the device steadily. Additional features include a tripod screw hole for vertical shooting as well as a new touch-panel UI that automatically adjusts the display orientation based on how the device is held to enable comfortable operability in a variety of shooting scenarios. The viewfinder has been eliminated to achieve a flat and linear design that fits well with video accessories, thereby achieving a design which has been perfectly crafted for video shooting down to the finest detail while appearing simple and stylish.

The Silver Award-winning EOS R1 is a full-frame mirrorless camera intended for professional photographers, and is the first flagship model in the EOS R System series. Thanks to its newly developed image processing system and the use of deep learning technology, it achieves the high level of photographic performance required by professionals. Additionally, its rubber grip features a newly developed cross pattern with a strong grip capability that enhances handling and prevents accidental drops during orientation changes. While inheriting the distinctive silhouette of the first-generation model^*, it incorporates ergonomically designed features and comfortable operability, resulting in a design truly worthy of professional use. The EOS R1 has been widely praised, having received the 2025 Good Design Award (Good Design Best 100) in Japan as well as the Red Dot Design Product Design Award (Best of the Best Award) (Switzerland) and the iF Design Award 2025 (Germany).

Encouraged by the recognition of these awards, Canon will continue striving to create products that expertly blend excellent design with outstanding performance.

About the DFA Design for Asia Awards (www.dfaa.dfaawards.com)

Since 2003, the “DFA Design for Asia Awards” honors design excellence and acknowledges user-centric design projects which embrace the unique Asian perspectives to enhance and improve the quality of life for people in the region. Organized by Hong Kong Design Centre, with Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region as the Lead Sponsor, as one of the seven DFA Awards programs, the “DFA Design for Asia Awards” has been a platform for design talent and corporates to showcase their design projects internationally.

The Reserve Bank has left the official interest rate on hold after a surprise jump in inflation, in a widely expected decision.

The RBA’s monetary policy board on Tuesday kept the cash rate at 3.6%, where it has sat since August. Economists and banks overwhelmingly expected no change.

The central bank has cut interest rates three times in 2025, easing pressure on mortgage holders and fuelling rapid house price rises.

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Core inflation rose to 3% – the top of the RBA’s preferred range – in September, the first acceleration of the underlying measure since 2022.

The headline rate rose to 3.2%, including volatile categories such as electricity costs, which rose 9% in the quarter as government energy rebates ended.

The surprise bump in inflation dashed hopes that lower interest rates would be delivered to support the jobs market. Data in late September revealed a surprise increase in unemployment to 4.5%.

Financial markets over the last week have cut back their bets on another interest rate cut being handed down in the next 12 months. Major banks do not expect another cut until next year.

The RBA governor, Michele Bullock, was scheduled to address media on Tuesday afternoon to explain the board’s thinking.

(Bloomberg) — US stock futures extended losses along with Asian shares as Palantir Technologies Inc.’s earnings and uncertainty over the Federal Reserve’s policy outlook weighed on sentiment.

Contracts for the S&P 500 fell 0.4%. The underlying index posted a modest gain Monday even as more than 300 of its members retreated. Nasdaq 100 futures fell 0.6%, with Palantir declining more than 4% in extended trading on concerns about the company’s lofty valuation after a record run-up. Asian shares dropped 0.4% as the South Korean benchmark lost more than 2%.

A gauge of the dollar extended its gains to a fifth day after the greenback strengthened against all other Group-of-10 currencies, trading at levels last seen in August. The advance has come amid mixed signals from Fed officials, following Chair Jerome Powell’s warning last week that a rate cut in December isn’t a foregone conclusion.

A flurry of central bank officials offered contrasting views on the outlook for further rate cuts, with Chicago Fed President Austan Goolsbee saying he’s more concerned about inflation than the job market. Even as US factory activity contracted for an eighth straight month in October, global stocks hovered near record highs, driven by technology heavyweights and stoking calls for broader-market consolidation.

“It’s the Fed again,” said Anna Wu, a cross-asset strategist at Van Eck. “The inflation comment startled the markets and weighed on sentiment.”

Economists and policymakers are relying more on private reports such as the ISM survey for clues on the economy and job market in the absence of official data because of the US government shutdown. Friday’s scheduled employment report is also poised to be delayed as a result.

The Institute for Supply Management’s manufacturing index eased 0.4 point to 48.7, according to data released Monday. Readings below 50 indicate contraction, and the measure has been stuck in a narrow range for most of this year.

“With US data softening and Fed officials keeping policy optionality alive, investors are reassessing positioning rather than chasing risk,” said Billy Leung, an investment strategist at Global X Management.

Gold edged lower for a third consecutive session. Treasuries steadied, while oil fell as the market weighed OPEC+’s decision to pause output hikes.

Meanwhile, Fed Governor Lisa Cook said she sees the risk of further labor-market weakness as greater than the chance that inflation will pick up. She stopped short of endorsing another interest-rate cut next month.

“Looking ahead, policy is not on a predetermined path,” Cook said. “We are at a moment when risks to both sides of the dual mandate are elevated. Every meeting, including December’s, is a live meeting.”

Her comments echoed remarks from her colleagues who were equally noncommittal about whether the central bank should deliver a third straight rate reduction when policymakers convene in December.

San Francisco Fed President Mary Daly said officials should “keep an open mind” about the possibility of a December cut. Governor Stephen Miran noted policy remains restrictive.

Elsewhere, shares in Australia fell ahead of a central bank rate decision later Tuesday, when policymakers are expected to stand pat.

Back to Palantir, the company raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales.

Investors have sent the firm’s shares up more than 150% so far this year, closing Monday at a record $207.18. The company had a price-to-sales ratio of 85 as of Friday — the highest in the S&P 500 Index.

Mandeep Singh, senior analyst at Bloomberg Intelligence, said that investors likely wanted more guidance about the following year.

Palantir gave a forecast for the current quarter, Singh said, but “I think everyone wanted some sense of 2026.”

Corporate Highlights:

Starbucks Corp. is selling a majority stake in its China unit to private equity firm Boyu Capital for $4 billion to help accelerate its coffeehouse business in the country. Grab Holdings Ltd. raised its earnings forecast for the year after quarterly profit topped estimates, signaling robust demand for the Southeast Asian ride-hailing and food delivery firm’s new products. Netflix Inc. is in talks to license video podcasts distributed by iHeartMedia Inc. as it looks to compete head on with YouTube, according to people familiar with the conversations.

Some of the main moves in markets:

Stocks

S&P 500 futures fell 0.4% as of 12:01 p.m. Tokyo time Japan’s Topix rose 0.4% Australia’s S&P/ASX 200 fell 0.9% Hong Kong’s Hang Seng rose 0.2% The Shanghai Composite fell 0.1% Euro Stoxx 50 futures fell 0.2% Currencies

The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1513 The Japanese yen was little changed at 154.10 per dollar The offshore yuan was little changed at 7.1271 per dollar Cryptocurrencies

Bitcoin fell 0.3% to $106,566.26 Ether rose 1% to $3,638.41 Bonds

The yield on 10-year Treasuries was little changed at 4.10% Japan’s 10-year yield advanced two basis points to 1.675% Australia’s 10-year yield advanced one basis point to 4.35% Commodities

West Texas Intermediate crude fell 0.3% to $60.87 a barrel Spot gold fell 0.3% to $3,988.85 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Abhishek Vishnoi and Winnie Hsu.

©2025 Bloomberg L.P.

Nov 4 (Reuters) – Renewable energy firm SAEL Industries has filed draft documents late Monday for a stock market listing valued at 45.75 billion rupees ($520.51 million).

The solar and biomass operator said its initial public offering (IPO) will comprise a fresh issue of shares worth up to 37.5 billion rupees and an offer for sale of shares totalling 8.25 billion rupees by Norwegian state-owned fund Norfund, one of its major shareholders.

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Proceeds from the IPO will be utilised to invest in the company’s units, SAEL Solar P5 and SAEL Solar P4, and to repay or prepay certain outstanding borrowings, including accrued interest and applicable prepayment penalties.

The company’s total contracted and awarded capacity of its renewable energy projects, as of September 30, stood at 5,765.70 megawatts, comprising 5,600.80 MW solar and 164.90 MW of agri waste-to-energy capacities across 10 Indian states and 1 union territory.

Kotak Mahindra Capital, JM Financial, Ambit and ICICI Securities are among the lead book-running managers for the IPO.

The Norwegian fund made the investment through compulsorily convertible preference shares, which will convert into equity once Sael lists on Indian exchanges. The funds will be deployed in clean energy projects the company has secured through competitive bidding.

($1 = 87.8950 Indian rupees)

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HOUSTON — November 04, 2025 — Halliburton (NYSE: HAL) released LOGIX™ unit vitality, in addition to the LOGIX™ automation and remote operations family of solutions. The system monitors cementing equipment in real-time, prepares for upcoming jobs, and provides direct insight into equipment operation and performance.

LOGIX™ unit vitality delivers unprecedented visibility into equipment health and operator performance. Artificial intelligence (AI) and real-time data transform equipment maintenance from reactive to predictive to help customers gain greater insight into their operations and reduce non-productive time.

The system connects critical cement unit components to intelligent controllers and monitors more than 400 real-time parameters to ensure optimal performance. Data flows into a secure cloud, where machine learning models immediately process and analyze it to deliver constant insight into equipment health, operational readiness, operator performance, and preventive maintenance recommendations.

LOGIX™ unit vitality combines the power of AI with human expertise to operate smarter, respond faster, and execute with confidence. This system supports Halliburton’s land-based Elite™ and the new Elite Prime™ cement units. Offshore equipment deployment will begin in 2026.

At Halliburton, digital is foundational to how we operate, how we solve problems, and how we maximize value for our customers. The LOGIX™ automation and remote operations family of solutions includes analytics and visualization services that deliver reliability, consistency, and efficiency. This enables smarter decisions, improved performance, safer operations, and lower total cost of ownership.

About Halliburton

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Connect with us on LinkedIn, YouTube, Instagram, and Facebook.

Press Contact:
Alexandra Franceschi
PR@halliburton.com
281-608-8839

Investor Relations Contact:
David Coleman
investors@halliburton.com
281-871-2688

(Bloomberg) — Asian equities edged lower along with equity-index futures after weaker US economic data and uncertainty over the Federal Reserve’s policy outlook weighed on sentiment.

A gauge of the region’s shares fell 0.2%, diverging from gains in tech stocks in the US. Contracts for the S&P 500 fell 0.3% after the underlying index posted a modest gain Monday, although more than 300 members in the index actually retreated. Nasdaq 100 futures fell 0.4% with Palantir Technologies Inc. falling more than 4% in extended trading on concerns about the company’s lofty valuation after a record run-up.

A gauge of the dollar extended its gains to a fifth day, strengthening against all other Group-of-10 currencies and trading at levels last seen in August. The greenback’s advance has come amid mixed signals from Fed officials, following Chair Jerome Powell’s warning last week that a rate cut in December isn’t a foregone conclusion.

US factory activity shrank in October for an eighth straight month, reflecting softer production and demand, and Fed officials gave mixed signals on the path ahead for interest-rate cuts. Even so, global stocks have rallied for seven straight months since the tariff-fueled selloff in April, driven increasingly by technology heavyweights and prompting calls for broader-market consolidation.

“Asia’s taking a breather after a strong run,” said Billy Leung, an investment strategist at Global X Management. “With US data softening and Fed officials keeping policy optionality alive, investors are reassessing positioning rather than chasing risk.”

Economists and policymakers are relying more on private reports such as the ISM survey for clues on the economy and job market in the absence of official data because of the US government shutdown. Friday’s scheduled employment report is also poised to be delayed as a result.

The Institute for Supply Management’s manufacturing index eased 0.4 point to 48.7, according to data released Monday. Readings below 50 indicate contraction, and the measure has been stuck in a narrow range for most of this year.

Gold edged lower for a third consecutive session. Treasuries steadied, while oil fell as the market weighed OPEC+’s decision to pause output hikes.

Meanwhile, Federal Reserve Governor Lisa Cook said she sees the risk of further labor-market weakness as greater than the risk that inflation will pick up. She stopped short of endorsing another interest-rate cut next month.

“Looking ahead, policy is not on a predetermined path,” Cook said. “We are at a moment when risks to both sides of the dual mandate are elevated. Every meeting, including December’s, is a live meeting.”

Her comments echoed remarks from her colleagues who were equally noncommittal about whether the central bank should deliver a third straight rate reduction when policymakers convene in December.

Chicago Fed President Austan Goolsbee warned he’s more concerned about inflation than jobs. His San Francisco counterpart Mary Daly said officials should “keep an open mind” about the possibility of a December cut. Governor Stephen Miran noted policy remains restrictive.

Elsewhere, shares in Australia fell ahead of a central bank rate decision later Tuesday, when policymakers are expected to stand pat.

“Concerns over high valuations persist, and the Federal Reserve’s policy outlook appears murkier,” said Ulrike Hoffmann-Burchardi at UBS Global Wealth Management. “Despite the strong gains in equity markets this year, we continue to believe that this bull market has room to run.”

Corporate Highlights:

Palantir Technologies Inc. raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales, citing “accelerating and otherworldly” growth for its artificial intelligence and data analytics products. Starbucks Corp. is selling a majority stake in its China unit to private equity firm Boyu Capital for $4 billion to help accelerate its coffeehouse business in the country. Grab Holdings Ltd. raised its earnings forecast for the year after quarterly profit topped estimates, signaling robust demand for the Southeast Asian ride-hailing and food delivery firm’s new products. Netflix Inc. is in talks to license video podcasts distributed by iHeartMedia Inc. as it looks to compete head on with YouTube, according to people familiar with the conversations.

Some of the main moves in markets:

Stocks

S&P 500 futures fell 0.3% as of 10:41 a.m. Tokyo time Japan’s Topix rose 0.5% Australia’s S&P/ASX 200 fell 0.7% Hong Kong’s Hang Seng rose 0.4% The Shanghai Composite rose 0.1% Euro Stoxx 50 futures were little changed Currencies

The Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.1% to $1.1505 The Japanese yen was little changed at 154.35 per dollar The offshore yuan was little changed at 7.1275 per dollar Cryptocurrencies

Bitcoin rose 0.2% to $107,129.93 Ether rose 1.2% to $3,644.23 Bonds

The yield on 10-year Treasuries was unchanged at 4.11% Japan’s 10-year yield advanced two basis points to 1.675% Australia’s 10-year yield advanced two basis points to 4.35% Commodities

West Texas Intermediate crude fell 0.2% to $60.94 a barrel Spot gold fell 0.4% to $3,986.57 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Winnie Hsu.

©2025 Bloomberg L.P.