Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Japan Approves Record ¥122.3 Trillion Budget as Takaichi Seeks Fiscal Balance 
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market 
China to Tighten Crude Steel Output Controls and Export Regulation Through 2030 
Novo Nordisk Stock Surges After FDA Approves Wegovy Pill for Weight Loss 
AstraZeneca’s LATIFY Phase III Trial of Ceralasertib Misses Primary Endpoint in Lung Cancer Study 
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding 
Russian Stocks End Lower as Energy and Mining Shares Weigh on MOEX Index 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
GLP-1 Weight Loss Pills Set to Reshape Food and Fast-Food Industry in 2025 
Tokyo Core Inflation Stays Above BOJ Target, Strengthening Case for Further Rate Hikes 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week 
Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
UBS Warns of Short-Term Risks as Precious Metals Rally to Record Highs 
South Korea's Samsung Electronics Co. racked up 22.74 trillion won in semiconductor revenue in the second quarter to overtake US rival Intel, which posted a $19.6 billion revenue.
Excluding the contribution of a unit that it has agreed to sell, Intel's sales stood at $18.5 billion in the second quarter.
Samsung, which reported a 54 percent on-year increase in its overall operating profit in the second quarter, attributed its chip performance to high prices of DRAM and NAND chips amid robust demand in the pandemic.
However, Samsung faces a bigger showdown with Intel in the foundry business.
Analysts say Samsung faces an uphill battle against Intel as the US company is aggressively targetting becoming a leader in the foundry business that manufactures cutting-edge chips for fabless firms.
Intel CEO Pat Gelsinger said they aim to become the world’s top foundry player by 2025 by investing heavily and have secured Qualcomm Inc. and other semiconductor companies as its clients.
Intel plans to spend $20 billion to build two new chip factories in Arizona.
