NEWS

European shares closed lower after a US chip sell-off reversed early gains, with technology stocks tumbling as investors assessed AI regulation concerns, rate rises and corporate results.

Tesla and SpaceX lost up to $456 billion in combined market value after the US midterm elections, while Elon Musk's wealth fell by about $90 billion in a week.

LAFC forward Son Heung-min has ranked second behind Lionel Messi in MLS jersey sales for the second consecutive year, according to league figures based on online purchases.

LeBron James' attorneys have demanded that an AI sports-betting app stop using his likeness, citing unauthorised commercial use, an existing endorsement deal and potential NBA rule violations.

Portugal coach Jorge Jesus says he asked Cristiano Ronaldo to remain with the national team, but accepted the forward's decision to end his international career after their public dispute.

Prince Harry delivered a speech on sustainable tourism in London before travelling to Belgium with Meghan for their first joint overseas engagement since returning to the UK.

QBE Insurance shares rose 3.3% to a session high of A$26.75 as investors sought defensive stocks amid a sell-off in Australian technology and mining shares.

National Australia Bank shares rose 2.7% after a steep sell-off, despite weaker full-year earnings, higher bad debt charges, planned job cuts and divided broker views.

Amcor shares rose 4.7% in Sydney after falling sharply in New York, as stronger revenue and improving volumes were offset by an earnings miss, higher costs and reduced guidance.

TPG Telecom shares gained 2.2% to A$4.10 as investors favoured defensive sectors during a market sell-off, despite the company releasing no price-sensitive news.

Chinese technology stocks rallied as US and Asian chip shares sold off, but analysts say America retains major advantages in AI investment, computing infrastructure and capital.

SpaceX shares dropped 9.3% as investors weighed potential regulatory obstacles to Elon Musk's merger, AI infrastructure and data centre ambitions following the US election.

Kenvue has stopped trading as an independent company after Kimberly-Clark completed its acquisition, converting each Kenvue share into cash and Kimberly-Clark stock.

IREN shares fell nearly 19% to a fresh 52-week low after reports linked delays at its Texas AI data centre campus to deferred Microsoft spending.

Intel shares fell nearly 8% as a broad semiconductor sell-off overshadowed CEO Lip-Bu Tan's $9.7 million stock purchase and renewed concerns about PCs and manufacturing constraints.

Nvidia shares fell 7.64% in a broad sell-off across AI and semiconductor stocks, pushing the Nasdaq sharply lower as investors assessed AI spending concerns and awaited the company's quarterly results.

Early reviews suggest Apple's OLED iPad mini eliminates the uneven "jelly scrolling" seen on earlier models, but its 60Hz refresh rate remains a noticeable limitation.

Motorola has launched the $1,599 Signature 27 in the US, featuring Qualcomm's latest flagship chip, a 7,000mAh battery, 200MP telephoto camera and seven years of OS updates.

Pennsylvania health officials confirmed a sixth measles-associated death as the state recorded 1,467 cases across 45 counties, making the outbreak the largest in the United States in recent memory.

Apple's latest iPad mini introduces an OLED display, slimmer design, IP67 protection and an A20 Pro chip, while reviewers praise its performance but criticise the higher price.

Nintendo's Ocarina of Time remake has earned a 96 Metacritic score and universal positive reviews ahead of its Switch 2 launch, placing it among the year's best-reviewed games.

Macleods Pharma USA has recalled 3,744 bottles of a generic blood pressure medicine nationwide after the tablets failed FDA dissolution specifications, potentially affecting drug absorption.

AppLovin shares surged nearly 33% after record third-quarter revenue and profit, a stronger-than-expected forecast and expanded buybacks eased concerns following the stock's earlier sell-off.

Xeris Biopharma shares surged nearly 29% after quarterly revenue rose 44%, Recorlev sales nearly doubled, profitability improved and the company raised its financial targets.

Warby Parker shares surged 23% after the eyewear retailer reported double-digit revenue growth, stronger margins and adjusted EBITDA above guidance, despite slightly missing revenue expectations.

ADMA Biologics shares rose 23% after the company reported stronger third-quarter profit, record gross margins and raised full-year earnings guidance, driven by Asceniv growth.

Vericel reported record third-quarter revenue of $85.4 million, a sharp rise in net income and stronger full-year guidance, sending its shares 21% higher.

Coles and Woolworths have stopped stocking Sara Lee's one-litre ice cream tubs, but the range remains available at IGA and independent supermarkets across Australia.

Cristiano Ronaldo has retired from international football after a record 23-year Portugal career, leaving as its leading scorer and most-capped men's player while continuing at Al Nassr.