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This is Bloomberg Daybreak Weekend, our global look at the top stories in the coming week from our Daybreak anchors all around the world. Straight ahead on the program will get you set for more corporate earnings in the tech sector. I'm Nathan Hager in Washington.
I'm Caline Hetpet in London, where we're asking how Middle Eastern and African countries are focused on business in a changing world order.
I'm Doug Krissner looking at whether the le boo boo craze is due for a Beeanie Baby style bust.
That's all straight ahead on Bloomberg Daybreak Weekend on Bloomberg eleven three YEO New York, Bloomberg ninety nine to one, Washington, DC, Bloomberg ninety two nine, Boston, DAB Digital Radio, London, Sirius XM one twenty one, and around the world on Bloomberg Radio, dot Com and the Bloomberg Business App.
Good day to you. I'm Nathan Hager. We begin today's program with more corporate earnings in tech. Cybersecurity provider crowd Strike reports on Tuesday than we hear from software names Snowflake and Salesforce on Wednesday for more. We're joined by the analysts who cover these companies most closely, Bloomberg Intelligence Global head of Tech Research Mandeep Singh and On a rag Rana, tech analyst for Bloomberg Intelligence. It's great to have the both of you with us on this weekend program.
Of course, we've heard from a lot of big tech names already. A lot of the hyper scalers have reported as well. Mandy, we'll start with you. Do the results that we've heard so far. Tell us anything about what we could hear from these software players this week.
Yes, I think when you look at the hyperscale cloud numbers, especially Microsoft and Google, it's pretty clear that you know, we are seeing that lift from AI workloads for both Microsoft and Google, and that's why Microsoft is growing close to forty percent. Google was mid thirty percent, and they're ramping up kpex in anticipation of those numbers going even higher.
So I expect that to trickle down to some of the software players like Snowflake, for example, is in the business of using enterprise data for deploying some of these agents that everyone is looking to add in terms of their enterprise functionality and snowflake data is to my mind critical, so they should see a similar lift to their top
line from AI workloads and CrowdStrike. Being a cybersecurity provider, I think they are finding the tack surface when it comes to generative AI is far bigger than what anything you know, these security companies have dealts with and you could have prompt injunction attacks and some other types of new attack at that no one even conceived of before. So they should similarly benefit from enterprises looking to secure
their you know, firewalls and their infrastructure. Given everyone is deploying AI, so I expect a crowd strike print should be strong as well. In terms of AI demand.
Let's bring you into the conversation on a RAG as well. I know you cover salesforce pretty closely as well. What do the hyper scale numbers tell you about what we could get from salesforce?
So salesforce is on the other side of the equation. They really, you know, are in a completely different business than some of the other vendors that when they've talked about In their case, the only product that hasn't overlapped is some of the data cloud that they started to sell in the last couple of years as part of their Jenny I offering. Now that product is a small portion of the overall portfolio, so even if they doubles, really it's not going to really move the needle for them.
For them, they're on the receiving side of the lower end of it spending, which is as people are spending more and more money on AI related workloads and AI related infrastructure. You know, it's taking out from some of the stuff that Salesforce is selling. And in fact, one of the things that they are grappling with is the lack of seat count growth in their enterprises that they sell into. So it's I mean, you know, in our view,
it's not going to be that exciting for them. They're running at at about ten percent Booking's growth rate number. That's a that's probably where it will see for them. The big question for them would be, you know, how much of the guidance they're going to go out and improve because of the closure of the Informatica deal which just happened.
Let's dig into all these companies much more closely. Man, Deep, I know you cover CrowdStrike in particular, and I got to admit, whenever I think of CrowdStrike, I think of outage from last year, just because you know, full disclosure, it affected me personally, I think a lot of listeners can relate to that as well. Is that still an overhanger? Is it fair to still think about the outage when it comes to crowd strength?
Well, so when I look at the new customers that CrowdStrike has at it since, then, clearly their pace of new customer ads have slowed because of what happened, and I feel they've come out of it relatively okay, even though there was a slowdown, but they managed to hold on to their existing customer base. And now we are at a point where because of generative AI deployments. I mean, there are three or four companies that probably our best position to benefit from, you know, the GENAI deployment. So
I would put CrowdStrike amongst one of them. And clearly there is M and A going on with pallel to buying you know a Chronosphere and cyber Arc and Google buy with so there are other dynamics at play. But on an organic basis, I think crowd strike has done well and they have themselves made some tuck in, so I feel they have been able to at least stabilize the impact and second half for them would be faster growth compared to the first half of twenty twenty five.
And so from that perspective, I mean, given there around twenty percent growth, I expect growth to improve going forward.
It's interesting to think about the opportunities presented by artificial intelligence for the cybersecurity space. When it comes to CrowdStrike, are there challenges?
So crowd Strike to me, you know, is still a company that is a category leader in the endpoint security space, and so the challenge is if everyone starts deploying security in a different way. So imagine, you know, we have a lot more agent take functionality out there, you don't need to secure as many human users, and so that could have an impact on crowd Strike going forward, and they clearly have to adapt to their business model in
terms of the agentic functionality. But as I said, you know, I don't see any pure play AI security provider really challenging their position right now.
And when it comes to artificial intelligence opportunities on a rog looking at sales forces upcoming earnings, we just heard from the CEO ahead of the report saying he's not going back to chat GPT after seeing what Google's Gemini offers. Now there's been a lot of attention on this new large language model coming from the alphabet unit. Where does that position salesforce hetting into earnings?
Yeah, I think the Google THEO must thank him for a few billion in market capital over there, because that was a very big statement. Google works very closely with Salesforce. They provide cloud services to Salesforce, so it is a very good relationship between the two firms. And also remember that open ai is starting to get into the wheelhouse of a lot of these software providers by saying that you can run some of the software like functionalities through CHATGPT,
so they could be a little bit of that. But frankly speaking, when it comes to Salesforce, the fundamentals are that non AI related it spending is weak, and it has been weak for some time in the last couple of years. As corporations are spending more on expanding their AI footprint or either an infrastructure or models, they are pulling back in areas such as traditional software spending where salesforce lies, or in consulting, which is impacting some of
the consulting names. So that's the theme that we are seeing right now. Let's see if that reverses in twenty twenty six. But as of now, things you know, I would say from a macro point of view are not that rosy for Salesforce.
Interesting Why is that? Is it just because there's too much of a reliance on artificial intelligence right now?
No, that's not that.
You know, if you are a JP Morgan or a City Bank, I mean, you have to make sure that you invest aggressively in AI related aspects of it now.
And these companies also don't have unlimited budgets. So if your overall budget is only going to grow up by seven, eight percent or nine percent, you know, and you are allocating a large portion of that into AI, you know, you have to find money from somewhere else, and that somewhere else is usually tapering down in some of the other areas, whether it's buying new hardware or you know, cutting your consulting spends, et cetera.
And that's what's you know, impacting Salesforce.
And Mandeep looking at Snowflakes earnings the same day as Salesforce on Wednesday, looks like there's a lot of focus on how they're navigating artificial intelligence as well.
Yeah, I mean, look, I mean I come pair Snowflake to a company like Palenteer. Palenteer has seen, you know, remarkable acceleration on the commercial side, you know, by integrating their ontology product with these llms. And to me, the closest competitor for Snowflake is Palenteer and Data Breaks. So from that perspective, you know, Snowflake hasn't seen that kind of a bump that Palenteer has seen. That's partly to do with they didn't have as many llms on their platform,
you know, to integrate with for agentic functionality. They've been trying to add more llms and that for me, is a catalyst for that top line acceleration. But there is no doubt that they are behind when it comes to some of the agentic functionality compared to Data Breaks and Talenteer.
So when it comes to bringing in more of those large language models, does that add to some of its costs And could that have an effect on its margins?
It certainly could, And that's our view as well that Snowflake may see some pressure on margins. And look, they use all these hyperscalers, Microsoft, Google and Amazon for deploying their products. So if Microsoft or Google have to raise prices, then they're going to pass it on to a Snowflake. So from that perspective, we do think with more AI workloads Snowflake, a company like Snowflake may see pressure on the margins.
Of course, all these earnings are coming at a time where investors broadly are questioning artificial intelligence valuations on a rog How does that play into what we could get this week?
Yeah, I mean you look at valuations mine.
You know, Salesforce, as I said, is the completely opposite realm of all the AI infrastructure play that's out. Their
evaluation is a lotless which has been historically. In fact SaaS trend that have seen a decline in the last twelve for twenty four months because of the seatcout pressure that we talked about, and even for them, you know, when you look at margins, you're not going to get the same lift in margins that we have seen in the last two to three years of Salesforce under the attack of some activist investor really went out and gave
margin back to the investors. But I think right now with their Agent Force product, they really are investing heavily into sales and marketing, and I think a lot of that will you know, show up in this quarter's earnings.
Again, we hear from a crowd strike on Tuesday and then Snowflake and Salesforce on Wednesday. Thanks to both of you for being with us. That's man Deep Singh and on a rag rana of Bloomberg Intelligence and coming up on Bloomberg day Break weekend, we'll look at how Middle Eastern and African countries are focused on business in a changing world order. I'm Nathan Hager, and this is Bloomberg. This is Bloomberg Daybreak Weekend, our global look ahead at
the top stories for investors in the coming week. I'm Nathan Hager in Washington. Up later in the program, we'll look ahead to the holiday shopping season, as those trendy La Boo Boo dolls are expected to be a hot item in Asia. But first in the coming days, industry leaders, investors, and government officials descend on the UAE for the seventh Milkin Institute Middle East and Africa Summit. This year's edition is taking place at a time when shifting geopolitical landscapes
and technological advances are dramatically altering the world order. Attendees will seek to understand where the Middle East and Africa fit in the new hierarchy. For more, let's go to London and bring in Bloomberg Daybreak Europe anchor Caroline hepger Nathan.
The Middle East and Africa have the advantage of young demographics and strategic location. They could well be poised to take advantage of the next frontier in global devaslopment this year. Already, Middle Eastern states, including Kuttar have played a pivotal role in the signing of the Gaza Peace Plan, with President Donald Trump thanking Arab and Muslim nations in advance for
pledging money to rebuild the devastated Palestinian territory. Questions, do you remain over the extent to which these nations in the region, including Saudi Arabia and the UAE, will help fund the reconstruction. While several deep pocketed and energy rich countries in the area worked on and enthusiastically endorsed the peace Plan, almost all have specific reservations. Meanwhile, countries in Africa are grappling with a complex relationship with the US President.
Bloomberg opinion columnist Andrea's Kluth has written about how Donald Trump's claims that South Africa is facing government sponsored race based discrimination and that in Nigeria quote, they're killing Christians are evidence of the current administration's u use of African policy to promote an America First agenda. The position of African countries, therefore, in a world increasingly dominated by US rhetoric, does face challenges, and it's something that was discussed widely
at the recent Bloomberg Africa Business Summit. During the event, South Africa's Minister of Finance, Ino Godongwana told Bloomberg Jennifer's Abasaja that talks between the United States and South Africa are ongoing.
The and negotiations taking place between ourself and the USA. Accept that we can be through the media through what details of this agament when we're not negotiating with them in the media.
What would you say the current state of relations are between South Africa and the US.
Absolutely non problem. Accept that now and again we hear what the the USA says about general side and all of them.
Do you think it is putting a dent on potential investment into the country.
Yes, the US is powerful and to that extent it influenced the attitude of Inversta community to South Plus, I love you.
That was South Africa's Enoch Godongwana speaking there to Bloomberg's Jennifer Zaba Saja on the sidelines of the Bloomberg Africa Business Summit. This ahead of the Milkan Institute Middle East and Africa Summit in the coming days. So I've been getting some information about what is to come from Bloomberg's UK and Middle East Finance editor Jenny Seraine and our Chief Africa correspondent Jennifer Zabasaja. Welcome to both of you. Thank you for speaking to me in terms of the
Milkan Institute this particular event. Jenny, give us a sense of how big a deal the gathering is, who the main players are going to be attending, because there is increasingly a focus on the Middle East and it's connections around the world.
What we've seen increasingly is, especially as the US, you know, maybe has pulled back in a lot of ways from some of these big global summit type things, you've seen a real big emphasis on some of these midiest players that can kind of step in and fill the void.
So this is a region that just has vast amounts of capital You've got entities and specific investors that are looking to put that capital to work in new and interesting ways, and so that's why you see so many Wall Street names and sovereign names from around the world kind of flocking to these events and looking to get in touch with these investors.
How do you think those Middle East and countries the GCC are balancing the bizarre for investment and also their domestic issues.
Yeah, it's interesting. I do think we're starting to see more of a divergence between the different countries themselves. So over the years, Abudabi's relying on oil, it has lessened to some degree, and a large part of that is because they've been able to go and invest so heavily in these new and different areas. Saudi, on the other hand, is still heavily reliant on oil, and so you kind of see that and how their different budget dynamics play out. But you see, I think across the board a desire
to move beyond oil. That's why you see them rushing to invest in all these new economy up and coming area.
Jennifer, You've just come through a very busy time in the past few days in Africa, talking to a lot of African leaders. We heard a little snippet of one finance minister who you spoke to, just tell us first some of the complexities that are facing African nations, of which there are so many right now as this sort of new world order is establishing itself.
You know, it was the first Group of twenty summer, and of course that was on the African continent, that was held on the African continent, which was significant for many countries outside of just South Africa, which is really the only sovereign nation that's a part of the G twenty, but also the African Union was also a part of the Group of twenty, and so we saw a number of leaders that use this opportunity, and even South African President Zero Ramaposa, who has held the G twenty presidency
for the past year, used this, you know, opportunity to amplify a lot of the challenges that these countries are facing that even pre date a lot of the shifting alliances, if it were, that we've seen in the past few months. And so of course one of the major you know, and probably one of the top concerns that many of them have told us is this issue of debt sustainability.
This is of course, you know, really came to light even more so after the pandemic when we saw a number of African countries actually you know, fall into to debt and they were not able to pay back some of the debt that they had borrowed. We saw that
from from Zambia. We've also seen that from Ethiopia, and so the concern really was how do these African countries develop and industrialize when most of the revenues and the payments and you know, their their cash flow that they have domestically is going to servicing debt more so than you know, many of our reports indicate more so than sectors like education and health. And so we heard from a number of ministers wanting to at least find some ways in which they are able to maybe look at
various ways of financing. And so it's not just you know, getting services from the IMF or the World Bank, but it's also from from new investors.
Jen, where do you think the focuses then, what do you think that as African nations are thinking about in terms of their ties to the Middle East. As you say, you know, there's a lot of focus on the Trump administration and the US relationship with these countries. What are those ties between African countries and the Middle East.
What's been interesting is that, you know, the Trump administration and the US sort of scaling back in their aid, you know, going from aid to trade or transactions to a certain extent, has sort of come at the same time in which a number of African countries have been able to stabilize many of their economies, so much so that there's some of the fastest growing economies in the world.
And so while of course the shock of usaid was very relevant and focused for a number of countries, it's also come when there's a lot of new investors that
are looking for capital to deploy. And you know, we were actually speaking to the Barclays head of South Africa, and he's also head of the private banking across the continent, and he was just saying just how much capital there is in some of these Gulf nations and how you know, the extent of the money and where it's coming from, and the opportunities are or more so than he's seen in the past few years.
Okay, So that's an interesting point, Jenny. I'm also thinking, i mean, maybe some of this turns on the military, but also a lot of it turns on soft power as well. How does soft power, not just hard power, play into the mindset of the Middle East?
Now?
Huge investment in lots of other things to project, you know, whatever image it is that those leaders want to, maybe in sports or in other ventures. How do you think about soft power now in the Middle East?
I think it's definitely still top of mind for these governments, and so that's why you see a lot of the different entities, whether it's sovereign wealth funds or other alternative asset managers that they've set up, going after these kind of more unique assets that are on the market. I mean, I think you saw it with the piffs decision to you know, go and take electronic arts private and kind
of the big take private deal of the year. That was a huge display of the kind of wealth and then the kind of ambitions that they have, and that was all tied to, you know, their desire to be the leader of the gaming industry and have this huge, you know, footprint in a space that's obviously fast growing but also kind of captures the minds and imaginations of a lot of consumers around the world and so I think, yeah, we'll definitely continue to see these players, you know, look
for ways that they can make that kind of mark and kind of these key industries, and I think sports is a great one. As you mentioned, you see them doing it in arts and culture increasingly, so it'll be really interesting to watch as they kind of pick their spots and pick their moments to deploy this trillions and trillions of dollars of sovereign wealth that they have.
My thanks to Bloomberg's UK and Middle East Finance editor Jenny Soarraine and to our chief Africa correspondent Jennifer Zaba Saja. I'm Caline Hebgar here in London, and you can catch us every weekday morning for Bloomberg Daybreak Europe, beginning at six am in London. That's one am on Wall Street.
Nathan, Thanks Caroline, and coming up on Bloomberg day Break Weekend, we'll look at whether the La Boo Boo craze is due for a Beanie Baby style bust. I'm Nathan Hagar and this is Bloomberg. This is Bloomberg day Break Weekend, our global look ahead, the top stories for investors in the coming week. I'm Nathan Hager in Washington. As the holiday shopping season gets underway, those trendy La Booboo dolls
are expected to be a hot item. The toys are produced and sold exclusive by the China based retailer PopMart, But some are wondering if these toys have reached their peak and whether La Boo Boo is due for a Beanie Baby style bust. For more, let's go to Daybreak Asia podcast hosts Doug.
Krisner Nathan These dolls have become a global phenomenon. They're fictional characters, and they appear to be an interesting mix of cute and creepy. If you haven't seen a Laboobu doll, it might be helpful to think of it as a fuzzy elf like figure with a row of jagged teeth. Images of these dolls reminded me of the characters from Where the Wild Things Are created by Maurice Sendek, Lu Boobo isn't a standalone character. I was surprised to make
that discovery. She is part of a larger group called the Monsters, created by Hong Kong artist and author Ki Sing Loom. For a closer look at the popularity of La Booboo and what it means for the company that controls this property. I'm joined by Bloomberg Shirley Jao. Shirley covers consumer companies in Asia and she joins us from Hong Kong. Thank you for making time to chat with me. So we know now La booboo is gone global. Can
you help me understand the beginning of this craze? How did things start?
So the things really started around late last year when it started to you know, caught a lot of people's attention and the global craze really started to rise after a series of K pop stars and Hollywood stars started to feature La Booboo in their photos. And the most known, perhaps is Black Pink's Lisa, and she is known as a huge fan of La Booboo and she is seen in many photos, you know, showing her personalized La Boo
Boo with really trendy clothing and really fancy handbags. And you know a lot of well people started to show a Boo boo in in their you know, social media. That really triggered this global frenzy starting from earlier this year.
Can we say that it began in China on the mainland. Is that accurate.
Yes, it is accurate. I think a lot of this trend is to do with the economic slowdown in China. So previously consumers in China were seen posting photos on social media flaunting you know, air Mess handbags or you know, Louiston handbags and other really pricey luxury goods. But now with consumers confidence starting to weaken, but still people want a taste of this luxury lifestyle of you know, the
lifestyle of really well off people. But they don't. They're being more cautious in buying luxury goods now, so what else can they do? And they see people like Lisa and people like a lot of rich people all, you know, showing their La Booboo dolls, and then they want to buy the doll because that gives them a taste, like what they call a small luxury, a taste of the upper class lifestyle in the background of an economic slow down.
Are these expensive? How are they priced?
They are relatively pricey in terms of you know, just the little fluffy doll. For small dolls like this, it's quite easy to fake it. So you can find a lot of different versions of fake La Boo boos on China's e commerce platforms going for much cheaper than the real ones, and sometimes you can't tell whether it's real or it's fake. The fake ones are known as La fufus.
So a lot of people are joking that even though they spend a lot of money and effort to buy a La Boo Boo doll that they want, they don't know whether it's real La Boo Boo or La fufou. So.
The doll is made by a company called PopMart. What do we know about PopMart?
So? PopMart is known as McKain. The so called blind box dolls they actually have started quite a few years ago, before the global popularity of La Boo Boo. A lot of other popmarked products are also relatively well known, although none of them is as viral as La Boo Boo. So. Other pop marked toys include Skulp Panda, Molly Twin called Twin Cole, and even La Boo Boo's boyfriend Tay Cocoa.
Suirley, can you help me understand the history of blind box gift giving? How did it start?
I think it really starts guarded in recent years, and it's actually no different from other forms of blind box toys like Gatcha machines that has been going on in Japan for many, many years. I think it's the sense of, you know, excitement that you don't know what you'll get,
and especially if you have a line of products. For example, there is a series of La Boo booths, and every La Boo Boo features a different outfit or a different theme, and you want to collect every one of them, and you have to spend a lot of money because sometimes you know, you may end up getting the same one over and over and over. And that's what get people get consumers into spending to get what they want, to get the toy that they want, or to collect the whole series of the toys.
So in terms of PopMart, it's a publicly traded company right the trades in Hong Kong? Is that correct? How well has the stock been performing well?
The stock actually surged more than one five hundred percent from the start of last year to August, so the price is peaked in August and a lot of that was writing on the global popularity of La Boo Boo, but then it dropped more than thirty percent since August, and that highlights a lot of questions and concerns in the market about whether this la booboo frenzy can last.
I would imagine that. Yeah, calling into question the sustainability of a fad like this makes good sense. But I think we would be remiss if we didn't acknowledge the fact that the holiday shopping season is coming up in the West. Obviously, we have the Christmas holiday, and then New Year will be here before you know it for parts of Asia that celebrate the New Year holiday, not the Chinese New Year necessarily, but just the beginning of
the calendar year. Is the expectation here that we see a lot of sales moving into the holiday season.
We are definitely expecting a surge into the holiday season, but as I mentioned just now, there is also a rise of fake la boo boos. So a lot of people have already been complaining about these fakes, and actually different countries, especially China, has been tightening their scrutiny against the fakes of la boo boos. So it remains to be seen whether the holiday season can really trigger a surge.
Would you consider giving it as a gift still?
I would still because I know, you know, a lot of my friends are still quite into la Boo boo. And I think it's this sense of scarcity and the secondary market price that's still there, So that's still making people think, you know, oh they want this doll because
it's often out of stock in stores. For consumers like me, if I see, you know, even if I'm willing to pay, but then you know, after a long time of waiting or after a lot of effort, and I finally get a lat Boo boo, but still, you know, I see a lot of fake La boo boos that's much cheaper
and much easier to get. For me, it's you know, I tend to think that it may be a waste of effort and time, but for a lot of other consumers, they still think the sense of scarcity makes it such a rare thing that they still want.
When you look at the market, surely, is there a specific demographic that we should address here? Are they primarily younger people? Are they teenagers? Are they a little older? Certainly? And I'm wondering about whether there is an adult audience for this product.
I think there is definitely an adult audience. You know, a lot of them are in their mid thirties. But I think it's worth noticing that a lot of them are parents, so that means it's their children who got into it first. But then they started to get into it as well. I remember last year I was chatting with somebody who started looking at PopMart and La Bubu, and I asked them, you know, why do you think that this toy or the company will will be successful?
And they said that they went to China and they went to a shopping mall and the majority of the shopping mall was very empty because you know, in China, the e commerce platforms are ubidiquous and that's really affected the performance of a lot of shopping malls in the country.
But the only place where there were a lot of people gathering, especially you know, young people like primary school students, is Popmark stores and that's where you know, people are gathering and they are spending money to try to get their blind box toys. And that was when this person started to think that, oh, this may become a trend. But again, how long this trend may last it remains to be seen.
So the Hollywood Reporter recently reported that Sony Pictures has a deal now to the rights from PopMart International. This is the company that has the rights to the doll about creating a motion picture. And to the point that you were raising earlier about the analyst community being a little suspicious or at least questioning whether this mania can continue.
That seems to say to me that the idea of putting a film together based on this phenomenon, it may not last, and that is inherent in that is maybe a little bit of risk.
There are indeed questions about whether this film is going to be a hit or not. We don't know a lot of details about the film, like we don't even know whether this film will be animated or if it will be live action. The observation is that it appears that this deal came first and then you know, Sony will probably figure out all those details later. But we have seen in the past examples of similar films developed from popular toy lines that turn out to be failures.
For example, there are Brats, the Movie, Masters of the Universe, pand Puppies, and The Legend of Big Paul, and they're all based on really popular toy lines, but they weren't developed until several years down the line, and some of them barely recover their budget, while others didn't really sell tickets to cover the cost.
Shirley, We'll leave it there, Thank you so very much. That is Bloomberg Shirley Choo. Shirley covers consumer companies for US in Asia from Hong Kong. I'm Doug Krisner. You can catch us weekdays for the Daybreak Asia podcast. It's available wherever you get your podcast, Nathan.
Thanks Doug. And that does it for this edition of Bloomberg Daybreak Weekend. Join us again Monday morning at five am Wall Street Time for the latest sun markets overseas and all the news you need to start your day. I'm Nathan Hager. Stay with us. Top stories and global business headlines are coming up right now