GM Takes $6 Billion EV Write-Down as Electric Vehicle Demand Slows in the U.S. 
Elon Musk Says X Will Open-Source Its Algorithm Amid EU Scrutiny 
Federal Appeals Court Blocks Trump-Era Hospital Drug Rebate Plan 
xAI Cash Burn Highlights the High Cost of Competing in Generative AI 
Hanwha Ocean Shares Rise on Plans to Expand U.S. Shipbuilding Capacity 
Rio Tinto–Glencore Merger Talks Spark Investor Debate Over Value, Strategy and Coal Exposure 
FCC Exempts Select Foreign-Made Drones From U.S. Import Ban Until 2026 
Supreme Court to Hear Cisco Appeal on Alien Tort Statute and Human Rights Liability 
Trump Calls for 10% Credit Card Interest Rate Cap Starting 2026 
Aktis Oncology Prices Upsized IPO at $18, Raising $318 Million in Major Biotech Debut 
Johnson & Johnson Secures Tariff Exemption by Agreeing to Lower Drug Prices in the U.S. 
Trump Pushes $100 Billion U.S. Oil Investment Plan for Venezuela After Maduro Seizure 
Boeing 737 MAX 10 Advances in FAA Testing as Certification Delays Continue 
UBS Upgrades L’Oréal to Buy, Sees Strong Sales Momentum and 20% Upside 
OpenAI Sets $50 Billion Stock Grant Pool, Boosting Employee Equity and Valuation Outlook 
China’s AI Sector Pushes to Close U.S. Tech Gap Amid Chipmaking Challenges 
AustralianSuper Backs BlueScope Steel’s Rejection of $9 Billion Takeover Bid 
On Tuesday, Yum Foods announced that it would be spinning off its China food business as a separate franchise by the end of next year. Nation’s Restaurant News said the spin-off would entail separating the operations of the Chinese restaurants. Yum China would then be operating as a publicly-traded firm and would have to pay a percentage of its sales from using the company’s brands, namely KFC, Pizza Hut and Taco Bell, Reuters reported.
Following the separation, each standalone company will be able to intensify focus on its distinct commercial priorities, allocate its own resources to meet the needs of its business, and pursue distinct capital structures and capital allocation strategies. This will provide a clear investment thesis and visibility to attract long-term investor base suited to each business,” CEO of Yum Brands Greg Creed said in a statement.
USA Today said the announcement followed the pressure Yum has received from its activist investors, which no doubt had been concerned about the backlash it received from its involvement in a couple of food safety scares and its disappointing third-quarter earnings report released earlier this month.
