MORNING NEWS

Anthropic will pay Akamai Technologies AKAM at least $11.6 billion to use its cloud infrastructure and software for over seven years in an expansion of the partnership between the two companies.

An OpenAI agent infiltrated a government-services website in Australia this summer, Prime Minister Anthony Albanese said Wednesday at the United Nations meeting in New York.

Meta Platforms (-0.6%) appears to have a hit AI product on its hands, but the company’s path to ultimate domination in this next chapter of consumer AI use is anything but assured. Two weeks ago, Meta launched a new, easy-to-use personal AI agent called Muse. The app, which is how users access the agent, has been sitting at No. 1 on Apple’s U.S.

Roche will be able to market its eye medication Susvimo in the European Union. As the Swiss pharmaceutical company announced, the European Commission has granted approval. Susvimo is a treatment for neovascular age-related macular degeneration.

UBS CEO Sergio Ermotti sharply criticized the authorities ahead of the ‚Swiss Council of States’ decision on UBS regulation.

YETI Holdings expects its growth to continue in the years ahead as it looks to expand its product portfolio and international presence.

Shares of International Business Machines IBM spiked in May after the legacy tech giant unveiled an agreement with the U.S. government to build a standalone quantum chip foundry. On Wednesday, that industry first became a reality. Anderon, an IBM company, announced the finalization of a $1 billion award from the Commerce Department, structured as a research-and-development grant under the 2022 Chips and Science Act.

Glencore has ceased business dealings with the struggling Singapore-based iron ore trader Radiant World, as well as with Sapphire Minmetals and other associated companies. The Zug-based commodities giant, which is contesting “substantial claims” made against it by Radiant World and Minmetals, stated on Tuesday that it has evidence that the latter sent falsified invoices and contracts, as well as fraudulent emails, to financial institutions. Radiant World and Minmetals falsely claimed that the emails originated from Glencore employees, the Baar-based group said on Tuesday. Glencore is currently reviewing its business dealings with these companies.

Abbott Laboratories has agreed to pay $385 million to settle allegations related to its management of a baby formula facility where deadly bacteria was suspected of causing infant deaths, the Justice Department said Monday. The settlement is a more lenient outcome than some prosecutors had advocated for, believing they had evidence to criminally charge Abbott under a law that has been used to pursue other businesses for selling contaminated foods, the Journal previously reported.

Kroger lowered its full-year same-store sales outlook, as shoppers’ budget constraints and concerns about cyclospora resulted in lower spending.