Oracle Corporation

Taiwan Semiconductor Manufacturing Company Limited

Intel Corporation

Banks are discussing a new loan for the construction of data centers for ChatGPT developer, SEC has started an audit of Jefferies bank due to probable insufficient risk disclosure, and TSMC has sued a former top manager, accusing him of probable transfer of Intel secrets. These and other topics are covered in our review of key events by the morning of November 28.

Highlights for the morning: SEC investigations against Jefferies, TSMC lawsuit and Big Tech debt

AppLovin Corporation

The U.S. Securities and Exchange Commission (SEC) is conducting a review of AppLovin's practice of collecting users' personal data to more accurately adjust the targeting of mobile advertising. This was <a href="https://www.bloomberg.com/news/articles/2025-10-06/applovin-has-been-probed-by-sec-over-data-collection-practices">reported by</a> Bloomberg sources. Neither the SEC nor AppLovin has confirmed information about the ongoing investigation. But even if proceedings are underway, it doesn't mean the SEC will impose any sanctions on the company, the agency notes. In the worst case, the audit could end with fines for the company or its officials.

AppLovin got authorities interested because of data collection for advertising. Shares plummeted by 20%

QMMM Holdings Limited

Smart Digital Group Limited

The U.S. SEC has temporarily suspended trading in QMMM Holdings after the stock surged nearly 1,000% in three weeks, citing “potential manipulation” driven by social-media promotions. The Cayman-incorporated company, which until recently operated as a digital media and advertising firm, is the latest to join the wave of businesses adopting a crypto-treasury strategy.

SEC halts QMMM Holdings after three-week 959% surge on crypto-treasury announcement

BYD Company Limited

Sony Group Corporation

Sony has successfully spun off its finance business, setting an example of restructuring large Japanese conglomerates. Shares of the spun-off company jumped by more than a third. Alibaba emerged as a growth leader in Hong Kong thanks to its bet on cloud services and partnership with Nvidia. Chinese automaker BYD lowered its sales forecasts but is betting on expansion outside mainland China. The head of the U.S. regulator promised to accelerate the abandonment of quarterly business reports. About these and other topics - in our review of key events for the morning of September 29.

Trump has proposed exempting companies from reporting every quarter. What are the risks and benefits?

Circle Internet Group

The value of all crypto-assets <a href="https://www.bloomberg.com/news/articles/2025-07-18/crypto-market-cap-tops-4-trillion-as-us-stablecoin-bill-passes?srnd=homepage-europe">crossed</a> $4 trillion dollars. Of that, 60% ($2.4 trillion) is accounted for by bitcoin. Arbat Capital Advisory Services Limited (UK) analyst Alexei Golubovich and Arbat Capital analyst Denis Chigarev believe that the GENIUS Act, passed in July in the U.S., is not only about stablecoins, but also about how to help the U.S. economy and increase the attraction of money into U.S. Treasuries;