Ethiopia · Business EthiopiaAlphabet, the parent company of Google, has reported a negative free cash flow for the first time in its history. According to reports, this milestone is attributed to significant investments in artificial intelligence infrastructure and other business initiatives. The company's financial performance has been closely watched by investors and analysts, with many expecting a strong year.
EthiopiaAt least two Hong Kong residents have lost significant amounts of money in separate scams. A woman lost HK$21.5 million in a cryptocurrency scam, while a retired woman fell victim to a $2.9 million online romance scam. The incidents highlight the ongoing threat of financial scams targeting residents in the city.
EthiopiaSoundHound AI's stock has declined by 41% this year, with recent drops of 3.47% and 6.5% in two separate sessions. The company's value has been erased by $160 million. The stock's performance has been compared to that of BigBear.ai, with investors weighing the potential of each AI stock.
EthiopiaThe price of Bitcoin has fluctuated below $85,000 due to a tug-of-war between ETF inflows and whale selling. This has led to a risk-on mode among crypto traders, with Bitcoin's dominance nearing a return to 60%. The market has been volatile, with some cryptocurrencies, such as QNT and NIGHT, defying the market correction.
EthiopiaIn the Ethiopian market, BlackRock's IBIT took in $196 million in a day, while Fidelity's FBTC had only one positive day all week. This follows a recovery in Bitcoin ETF inflows in the third quarter, with 2026 remaining near flat overall. Retail stock buying has hit a two-year low, but crypto ETFs have seen fresh inflows, with over $1.5 billion in Bitcoin tops BlackRock holdings in one month.
EthiopiaCircle, a leading stablecoin issuer, is pushing the European Union to reconsider its regulations on stablecoin reserves. The company wants to scrap the requirement for stablecoins to hold 30% of their reserves in traditional bank deposits. Instead, Circle suggests using a liquidity test to ensure stablecoins can meet their obligations.
EthiopiaThe Indian stock market continued its downward trend, with the Sensex falling 1,671 points. This marks the eighth consecutive week of losses for the market. Analysts predict that the Sensex may find support at 71,000-71,200, while the Nifty may target 22,800. The market's decline has resulted in a loss of Rs 39 lakh crore. The market is expected to remain flat in October due to global headwinds.
EthiopiaThe US natural gas production reached a record high in July 2026, according to the US Energy Information Administration (EIA). This milestone was achieved despite milder weather conditions, which typically lead to lower demand for natural gas. The increased production is a significant development in the US energy sector.
EthiopiaASML, a Dutch company, and Taiwan Semiconductor Manufacturing Company, a leading chipmaker, are at the forefront of artificial intelligence development. According to reports, ASML's machines are crucial for producing AI chips. Analysts recommend investing in semiconductor stocks, including ASML, ahead of earnings. The companies' AI ties have sparked interest among investors, with some highlighting the potential for growth and others expressing concerns about the industry's dependency on a single machine manufacturer.
EthiopiaOil prices have remained steady near $100 a barrel, driven by concerns over supply disruptions in the Middle East and the ongoing impact of US sanctions on Iran. The price of West Texas Intermediate (WTI) oil has fluctuated, influenced by reports of increased oil flows from the Gulf and market assessments of potential risks to supplies. The stability in oil prices has significant implications for global energy markets and economies.
EthiopiaBitcoin's value has increased significantly, surpassing $85,000, following a proposal by the US Securities and Exchange Commission (SEC) to modify its custody rule. The proposed changes aim to clarify the treatment of discretionary trading authority under the rule. This move is seen as a positive development for institutional investors, who have been hesitant to enter the cryptocurrency market due to regulatory uncertainty.
EthiopiaAutomakers in Ethiopia have increased production to meet the expected surge in demand during the upcoming festive season. Maruti, a leading automaker, has reportedly boosted production in response to a backlog of over 200,000 bookings. Dealers in Noida have also seen a significant increase in vehicle bookings, with over 9,000 vehicles booked before Navratri. This move aims to ensure that dealers have sufficient stocks to meet the anticipated demand.
EthiopiaReports from various outlets suggest that copper prices are expected to increase in 2028 due to several trends. According to experts, the demand for copper is expected to rise, driven by the growth of the renewable energy sector and the increasing use of artificial intelligence. This is expected to lead to a copper shortage, which could drive up prices.
EthiopiaA growing number of Gen Z individuals are using their investment dollars for sports betting, with some winning substantial amounts. Experts are worried about the potential financial and mental health implications of this trend. According to reports, more than half of Gen Zers are engaging in sports betting, with some using their winnings to fund retirement. The long-term effects of this trend on social security and retirement funds are uncertain.
EthiopiaUS employment growth showed a moderate pace in the latest jobs report, with the US100 stock index reaching new highs despite the weaker-than-expected data. US equities ended the day in the green, while bonds resumed selling. The report's impact on the global economy remains to be seen, but it has already influenced market trends.