Tesla’s proposed $1 trillion pay package for CEO Elon Musk came under fresh scrutiny on Friday, with proxy adviser ISS urging shareholders to reject what might be the largest-ever compensation plan awarded to a company chief.
| China is expected to keep benchmark lending rates steady for the fifth consecutive month in October, as policymakers remain cautious despite a recent flare-up in trade tensions between Beijing and Washington. |
The U.S. dollar notched a third consecutive session of losses against major currencies including the euro, yen and Swiss franc, amid U.S.-China tensions and as markets assess remarks from Federal Reserve officials.
Oracle expects cloud infrastructure revenue to be $166 billion in fiscal 2030. CEO Clay Magouyrk gave the prediction during a meeting with financial analysts, sending shares up 5%. Oracle said last month that it has racked up hundreds of billions of dollars worth of infrastructure bookings
BlackRock has redesigned one of its money market funds to meet new US stablecoin rules. The $13.5 trillion asset manager said the revamped fund will help manage reserves for companies behind US dollar-pegged stablecoins, offering them a safe place to park customer funds.
Gold prices rose to end last week, hovering near record highs and heading for a seventh consecutive weekly gain, supported by growing concerns over the economic impact of a prolonged U.S. government shutdown and expectations of interest rate cuts.
