Good morning from the Financial Times.
Today is Friday, November 14th.
And this is your FT News Briefing.
Oracle stock has been hammered lately,
and a European chemical's heavy weight is buckling under the pressure of the industry.
Plus, we take a look at the little town of Bethlehem, Pennsylvania.
Growing up, I thought Bethlehem was just like your average small town.
Recently, though, I realized we're really in the center of a lot of things.
I'm Mark Filipino and here's the news you need to start your day.
Its shares are down almost 30% over the past month.
That's close to twice the fall of Meta,
which is the next worst performing big cloud computing company.
Investors are so skittish about Oracle because of its massive investment into artificial intelligence chips and data centers.
That's largely been because of deals to supply computing capacity to open AI.
Oracle borrowed a lot of money to fund those commitments and investors have also sold off its corporate bonds in the past month.
Oracle executives believe the ends will justify the means,
though it sees its open AI deals generating $300 billion in revenue by 2032.
A heavily indebted chemicals empire is coming under more and more financial pressure.
Ineos is one of Britain's largest privately owned companies,
and it's now being hit by concerns over Europe's flailing chemical sector.