Virgin Media O2, Britain’s second-largest broadband provider, plans to cut thousands of jobs as part of a cost-reduction drive. According to Sina Finance, the company plans to reduce employee costs by £300 million, or about 30% of the current total, by 2029, within an overall £800 million cost-cutting plan. It has about 16,000 employees but declined to disclose the specific number of positions to be cut. The plan is intended to ease investor concerns about the company’s £22 billion debt burden. This summer, its bonds sold off amid concerns that intense price competition among smaller fiber network operators was undermining its ability to repay debt. Virgin Media O2 is jointly owned by Liberty Global and Telefónica. Chief Executive Lutz Schüler said the difficult decisions were necessary for the company’s future success and growth. He said the market and regulatory environments for fiber networks, as well as technological changes across the economy, meant that maintaining the status quo and continuing to operate as before was no longer viable. A September report said shareholders were seeking to cut costs by hundreds of millions of pounds amid investor concerns about the company’s financial position. The cost-reduction plan was announced alongside Virgin Media O2’s third-quarter results. The company recorded a net loss of 23,000 broadband subscribers from July to September. It has lost more than 55,000 broadband customers so far this year, compared with 138,400 over the full previous year. A report last week said the company would cancel a planned cable-network upgrade, opting not to upgrade its existing network to newer fiber technology as it cuts spending. James Ratzer, an analyst at New Street Research, said the new cost-cutting measures were necessary in response to competitors and to maintain the company’s market position, given pressure on broadband pricing.

China’s National Development and Reform Commission (NDRC) said on November 3 that it will accelerate foundational and comprehensive legislation on artificial intelligence, balancing development and security during the 15th Five-Year Plan period. According to ChainCatcher, Wang Ruomeng, deputy director of the NDRC’s Department of Innovation and High-Tech Development, outlined four areas of work at a press conference on fostering new growth drivers. The commission plans to improve governance rules, including laws covering shared elements such as data, computing power and algorithms, and key AI application scenarios. It will also establish full-lifecycle safety standards and ethical guidelines, with periodic assessments of implementation. Other measures include setting reasonable regulatory transition periods, offering compliance guidance across industries and supporting AI regulatory sandboxes with procedures for applications, testing, use and exit. The NDRC also plans to clarify the governance responsibilities of government agencies, industry groups, businesses and the public, and encourage developers and operators to manage risks and report safety incidents and vulnerabilities. To address AI’s social effects, it will monitor employment changes, seek to add roles such as AI model trainers and data annotators to the national occupational classification system, and track risks of job displacement. It also plans to strengthen the tracing of algorithmic discrimination, deepfakes and privacy leaks, and promote interventions against addiction and emotional dependence.

Brazil's largest cryptocurrency exchange, Mercado Bitcoin, has suspended deposits and withdrawals after a security incident triggered more than $40 million in suspicious cryptocurrency transfers across multiple blockchain networks.

CrowdStrike has agreed to acquire two AI security startups for a combined $495 million, expanding its capabilities to monitor AI agents and manage their risks. According to Sina Finance, CrowdStrike will pay about $400 million for Fiddler AI, a Palo Alto, California-based company founded in 2018 that develops software to monitor and explain agent behavior, and about $95 million for Dreadnode, an automated security testing platform founded in 2023 that detects vulnerabilities in AI models before deployment. Most of the purchase price will be paid in cash, with the remainder in restricted stock subject to vesting conditions. Dreadnode will scan models and agents for weaknesses before deployment, while Fiddler will track agents’ decisions, tool calls and interactions after launch. CrowdStrike plans to offer Fiddler’s capabilities as Falcon Observe, complementing a newly introduced emergency shutdown feature in Falcon Guardian that lets administrators terminate agents exhibiting abnormal behavior. CrowdStrike President Michael Sentonas said businesses have moved beyond testing and are deploying AI agents at scale. He said misconfigurations, insufficient understanding of how agents operate and excessive permissions can expose systems and data to risk. Regulators are beginning to require businesses to explain agents’ permissions and controls, making audit trails of agent operations and decision-making a compliance requirement. CrowdStrike plans to integrate Fiddler and Dreadnode into its Falcon platform early next year.

On November 3, TD Cowen downgraded Marvell Technology to Hold from Buy and cut its price target to $175 from $350. According to Sina Finance, TD Cowen said Marvell’s acquisition of optical communications equipment maker Lumentum could dilute future earnings, and that the deal may come near a cyclical peak for the AI optical communications industry, increasing its risk. Marvell shares closed at $171.41 on Monday, down 12.72% for the day and 29.6% over the week. TD Cowen analyst Sean O’Loughlin estimated that the all-stock acquisition could dilute Marvell’s 2028 calendar-year earnings per share by about 4% to 6%; Marvell management had said the deal was expected to begin adding to earnings per share one year after completion. TD Cowen also questioned whether the companies needed to merge to achieve co-design and performance optimization for optical communications products. The firm said the market may be overestimating future demand for optical transceiver modules: bottom-up market forecasts imply a market size of $100 billion in 2027, while its estimate based on AI chip shipments is $47 billion. If the industry enters a downturn in 2028 because of excess optical transceiver module capacity, Lumentum’s higher operating leverage could magnify margin declines and further increase the deal’s dilutive effect on Marvell’s earnings.

On November 3, UBS downgraded Adidas from Neutral to Sell and cut its price target from €160 to €156. According to Sina Finance, UBS said World Cup-related sales and strong apparel performance could support 10% revenue growth in 2026, but expects growth in the sporting goods industry to remain in the low single digits in 2026 and 2027, below its historical average of nearly 10%. UBS said Adidas faces challenges in achieving high-single-digit revenue growth in 2027, with no clear improvement yet in footwear and lifestyle products. It forecasts 4% revenue growth for Adidas in 2027, below the market consensus of 7%. UBS also said product mix changes and higher raw-material costs could weigh on gross margins; its 2027–2028 EBIT forecasts are more than 10% below market expectations, and its gross-margin forecasts are about 100 basis points lower. UBS cut its 2026–2028 earnings forecasts by up to 7%. The firm noted that Adidas shares had rebounded about 20% from their early-October low, while the near-term earnings outlook had not improved correspondingly and the gap between valuation and fundamentals was widening.

European Central Bank Governing Council member Dimitar Radev said the October pause in rate hikes did not mean monetary tightening had ended. According to Sina Finance, he said policymakers should not wait for evidence that higher energy costs were driving up wage demands before acting, although there are currently no signs of such effects. Radev said persistent inflation pressures could require further rate increases and that current rates should not be assumed sufficient. He also said that although Europe had so far managed multiple risks, the economic situation was becoming increasingly challenging.

By entrusting the matching and settlement of perpetual contracts to Hyperliquid, ICE is essentially acknowledging that technology has never been the moat of exchanges; what is truly valuable is the regulatory license.

With annual revenue of $713 million and no US users: Hyperliquid's explosive growth

North Korea has denied the FBI's claim that its hackers stole more than $6 billion from Binance, calling the allegations a political provocation. Pyongyang also tested new cruise missiles fitted with cluster warheads as tensions with the US continued to rise.

Ethereum L2, ETH, Layer 2, Gas, Staking, Ethereum 2026: Everything is rising except for the price. Jinse Finance: Usability and value are completely disconnected.

Coinbase returned to profit in the third quarter of 2026, reporting net income of $718.7 million after three consecutive quarterly losses. Yet nearly all of that profit came from unrealized gains on crypto assets held for investment, while core trading revenue fell 44% year over year, leaving adjusted net income at just $77.7 million.

The most expensive price to pay for high valuations is that future growth has to pay for today's price first. Even if a project delivers excellent results, the returns for shareholders can still be mediocre. HYPE has reached this point.

In the first three quarters of this year, Anthropic's revenue exceeded $33 billion, a 12-fold increase year-on-year; operating expenses in the third quarter exceeded $17.5 billion, surpassing revenue and increasing 2.9 times year-on-year. Among these, computing power and infrastructure expenditures increased 3.8 times to $9.86 billion, with a year-on-year growth rate exceeding 48% of the second quarter.

BTC, prediction, CLARITY bill, US Congress, Binance, Democrats sweep both houses? Will the crypto industry face the "worst-case scenario"? Golden Finance, "The worst-case legislative scenario".

A price increase does not necessarily mean a trend reversal. If the rebound mainly relies on short covering and short-term bottom-fishing without sustained support from spot demand, the market is likely to fall back again when buying pressure is insufficient.