The probability of a U.S. economic recession in 2026 drops to 28%
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Diamondback (FANG.US): Permian Basin will become the largest natural gas producing region in the United States by the 2030s
Diamondback Energy (FANG.US) stated that the Permian Basin, the site of the highest oil production in the United States, will also become the country's largest natural gas production area sometime in the 2030s.
Disney (DIS.US) reportedly plans to lay off thousands of employees, with some managers being asked to save 20% of annual costs.
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South Korea launches record-breaking budget for AI: 4.7 trillion won to build a "global highest-performance" sovereign model
South Korean President Lee Jae-myung has announced the largest fiscal budget in history—820.9 trillion won, representing a 12.8% surge from the previous year. The investment in AI and semiconductor initiatives will double to 1 trillion won, with an additional 4.7 trillion won allocated specifically for developing a "world’s highest-performance" sovereign AI model. Robust exports provide real support for these ambitions: South Korea’s exports in October alone soared by 93.7% to a record $115.3 billions, with annual exports on the brink of surpassing the $1 trillions milestone.
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