The Kospi index added 6.8%—a bigger snapback than last April’s rebound following President Trump’s “Liberation Day” tariff plans.

Leading the charge was index heavyweight Samsung Electronics, which surged more than 11%. Samsung is the world’s top memory-chip maker and a leading smartphone producer.

Tuesday marked Samsung’s biggest one-day gain since October 2008, as the global financial crisis roiled world markets.

A U.S. exchange-traded fund tracking Korean shares, the iShares MSCI South Korea ETF (EWY), gained about 4% in Tuesday morning trading.

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The paper shutters Sports desk, curbs local and international coverage. (0:15) AMD plunges despite earnings. (1:02) Bitcoin extends selloff as Michael Burry warns of a crypto death spiral. (2:15)

The following is an abridged transcript:

The Washington Post announced sweeping layoffs, cutting about one-third of its staff and gutting major parts of the newsroom as owner Jeff Bezos and his leadership team struggle for a path to profitability.

Staffers described the day as a “bloodbath,” and the moves signal a sharp narrowing of the Post’s ambitions as it looks to right the ship, with reports of steep losses — including an estimated $100M in 2024.

The paper is dismantling its Sports desk, closing the Books section, and suspending the daily Post Reports podcast. International coverage is also being scaled back, while the Metro desk — once the heartbeat of the paper in the Watergate era — is being heavily reduced.

The cuts come after weeks of internal concern, including public pleas from journalists urging Bezos to change course. And during the layoffs Zoom meeting, one reporter described the mood as “funereal.”

Among active stocks, AMD (AMD) is plunging despite beating on both the top and bottom lines.

J.P. Morgan analyst Harlan Sur said the big question is whether AMD can show real operating leverage — and until it does, the stock may stay under pressure, especially with potential margin risk as it ramps MI450/Helios later this year.

Eli Lilly (LLY) is bouncing back after topping Street forecasts with its Q4 results and 2026 outlook. Its GLP-1 drugs Mounjaro and Zepbound beat revenue expectations, with both up more than 100% from a year ago.

Uber (UBER) is lower after missing Wall Street’s lofty Q4 profit expectations, as a shift toward cheaper rides and higher insurance costs weighed on results. But the company also updated its autonomous vehicle plans, aiming to operate AVs in 15 cities by year-end.

AppLovin (APP) is sliding after AdExchanger reported on CloudX, a new AI-infused startup that could shake up the mobile advertising stack. The report said CloudX will use large language models to automate work typically done by engineers and ad ops teams.

And MGM Resorts (MGM) is rallying after BetMGM said 2025 was a record year, with net revenue reaching about $2.8B and adjusted EBITDA of $220M, driven by strong growth in both online sports betting and iGaming.

In today’s trading, bitcoin (BTC-USD) resumed its slide after a crypto selloff in the previous session that wiped out nearly $470B in market cap.

And “Big Short” investor Michael Burry warned the selloff could turn into a self-reinforcing “death spiral,” potentially causing lasting damage to companies that have spent the past year stockpiling bitcoin.

In a Substack post seen by Bloomberg, Burry argued that bitcoin has been revealed as largely speculative — failing to establish itself as a debasement hedge like precious metals.

“Sickening scenarios have now come within reach,” he wrote. If bitcoin falls another 10%, Strategy (MSTR) — the world’s largest corporate crypto treasury — could be billions in the red and “find capital markets essentially closed.” Further declines, he said, could push crypto miners toward bankruptcy.

And in other news of note, Claude is getting a little salty with ChatGPT.

Nearly three weeks after OpenAI (OPENAI) confirmed it would begin testing ads inside its near-ubiquitous chatbot, competitor Anthropic (ANTHRO) declares itself above the ad dollar.

Anthropic said: “We want Claude to act unambiguously in our users’ interests. So we’ve made a choice: Claude will remain ad-free.” The company added that users won’t see “sponsored” links next to their conversations, and Claude’s responses won’t be influenced by advertisers or include third-party product placements they didn’t ask for.

Anthropic didn’t mention ChatGPT or OpenAI by name, but the message is a pretty clear shot across the bow — and the debate over ad-supported AI is now echoing across the entire sector.

Eurozone banks tightened their conditions for loans to businesses in the final three months of 2025, an unexpected development lenders expect will continue in the early months of this year, the European Central Bank said Tuesday.

Publishing the results of a quarterly survey, the ECB said much of the tightening was reported in Germany and France, and “partly but not exclusively” involved loans to businesses that were affected by higher U.S. tariffs.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Atlanta Journal-Constitution (AJC) announced Tuesday that it would be laying off newsroom employees along with other staff across the company, according to the outlet.

About 50 positions will be cut as part of the layoffs and roughly half are newsroom positions, according to the AJC, which is 15% of the paper’s total staff.

“We’ve made these difficult decisions because we believe they will best position us to continue to accelerate the AJC’s growth,” President and Publisher Andrew Morse said, according to the paper. “We have invested heavily in our editorial, product and business teams over the last three years, and we’ve seen direct results from that investment.”

The paper previously announced in August that it would be cutting jobs and scrapping its print edition starting in 2026, with the final issue scheduled for Dec. 31, 2025.

BROADCAST BIAS: MEDIA CIRCLE THE WAGONS TO PROTECT THEIR ANTI-TRUMP REPORTING

“As we grow, we must be agile and ensure we are devoting resources where they will have the most impact for our audience,” Morse said. “While these changes are difficult on a personal level, they will best position the AJC to continue delivering journalism worth paying for.”

The decision to eliminate the print paper resulted in the “elimination of about 30 full- and part-time jobs involved in designing and distributing the newspaper” as the Atlanta Journal-Constitution shifted to digital-only publishing.

Staffers were alerted on Tuesday that the AJC offices would be closed Wednesday, and it would be a remote workday.

ATLANTA NEWSPAPER STUNNED BY DEMOCRATS PICKING CHICAGO FOR 2024 NATIONAL CONVENTION: ‘SAY IT AIN’T SO, JOE’

Employees affected by the layoffs will be briefed in meetings on Wednesday and will receive severance packages, according to the paper.

Morse told the AJC that the paper’s owner, Cox Enterprises, believes the transformation to digital only will be beneficial in the long term.

“We are not taking our foot off the gas,” he said. “Cox remains deeply committed to the AJC, our team remains deeply committed to growth, and we will continue to invest in areas that are critical to the growth of our organization.”

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CLICK HERE TO DOWNLOAD THE FOX NEWS APP

Fox News’ Brian Flood contributed to this report.

Ronda: A storm unleashing up to 35 centimetres (14 inches) of rain in 24 hours battered the Iberian Peninsula on Wednesday, forcing thousands of people in southern Spain from their homes, shutting schools and cancelling trains.

Spanish weather agency AEMET placed parts of the southern region of Andalusia under the highest red alert for the torrential rain dumped by Storm Leonardo.

An “extraordinary amount of rain” was falling in a region where “the ground is very saturated and riverbeds are already carrying a lot of water” from recent precipitation, AEMET spokesman Ruben del Campo said.

The mayor of the nearby city of Ronda, Maria Paz Fernandez, told public broadcaster RTVE that “the ground can no longer absorb” the constant downpours, speaking of “numerous landslides” in the surrounding rural areas.

Andalusia’s top emergency official, Antonio Sanz, told a press conference that the situation was “very worrying” in the nearby mountainous municipality of Grazalema, where AEMET predicted up to 35 centimetres of rain in 24 hours.

Around 3,500 people had been evacuated in Andalusia, where more than 650 incidents were recorded, none of them causing serious damage, Sanz said, adding that one person was injured in a building collapse.
Spanish police published footage of flooded fields and torrents of water that were engulfing buildings and vehicles.Hundreds of soldiers deployed to assist the rescue services, while all Andalusian schools were closed apart from in the region’s easternmost province of Almeria.

State railway company Renfe announced the cancellation of almost all suburban, regional and long-distance trains across Andalusia, with no bus replacement services possible due to the state of the roads, dozens of which were closed.

Scientists say human-driven climate change is worsening the intensity, frequency and length of such extreme weather events.

In October 2024, Spain suffered its deadliest floods in decades with more than 230 people killed, mostly in the eastern region of Valencia.

Portugal hit again
In Portugal, the emergency services had dealt with more than 3,300 incidents since Sunday, mostly due to flooding, falling trees and landslides, according to the Civil Protection authority.

The service had deployed more than 11,000 people to respond to the emergency, and around 200 residents were evacuated in central Portugal on Wednesday.

In Alcacer do Sal, south of Lisbon, the Sado river had burst its banks and the rising water had submerged the town’s main avenue, AFP journalists saw.

The Lisbon region and the Algarve in the south were most affected, with the rain and wind predicted to reach peak intensity overnight Wednesday to Thursday.

Tens of thousands of customers remained cut off from the power grid following last week’s Storm Kristin, which killed five people and injured hundreds.

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Q2: 2026-02-03 Earnings Summary

EPS of -$0.48 beats by $0.09

 | Revenue of $121.37M (-12.61% Y/Y) beats by $1.19M

Unifi, Inc. (UFI) Q2 2026 Earnings Call February 4, 2026 8:30 AM EST

Company Participants

Albert Carey – Executive Chairman
Edmund Ingle – CEO & Director
A.J. Eaker – CFO, Executive VP & Treasurer

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Conference Call Participants

Anthony Lebiedzinski – Sidoti & Company, LLC

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Presentation

Operator

Good morning, and thank you for attending Unifi’s Second Quarter Fiscal 2026 Earnings Conference Call. During this call, management will be referencing a webcast presentation that can be found in the Investor Relations section of unifi.com. Please familiarize yourselves with Page 2 of the slide deck for cautionary statements and non-GAAP measures.

Today’s conference is being recorded [Operator Instructions]. Our speakers are listed on Page 3 of today’s presentation and include Al Carey, Executive Chairman; Eddie Ingle, Chief Executive Officer; A.J. Eaker, Chief Financial Officer.

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I will now turn the call over to Al Carey. Please turn to Page 4 of the presentation. You may begin.

Albert Carey
Executive Chairman

Thank you. Well, good morning, everyone, and thanks for joining our call this morning. I’m happy to report that we’re beginning to see results in our business that are coming from a major effort that began one year ago, which is essentially resetting our cost base in North America business. The closing of the Madison facility and the reduction of costs across the board have created clear operating improvements that are going to allow us to make healthy profits on a much smaller sales level.

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Now a couple of highlights, and A.J. will go into more details on these later on. We’re pleased to see improved profit margins improved free cash flow. We have dramatically improved our inventory turns and it’s probably the best we’ve seen in recent history. We have 25% fewer people in North America, and our plant efficiencies have come way up from the summertime now that all

Fox Corporation on Wednesday reported its second-quarter earnings that beat analysts’ estimates amid growth in advertising revenue from the company’s news networks and sports programming.

The company reported $5.18 billion in revenue for the second quarter of its 2026 fiscal year, an increase of 2% from the prior year quarter and above the LSEG estimate of $5.06 billion. Distribution revenues were up 4% in the quarter, driven mainly by 5% growth in Fox’s cable network programming segment.

Advertising revenues were 1% higher primarily because of higher pricing for ads during sports and news programs, additional MLB postseason games, as well as digital growth led by Tubi – Fox’s free, ad-supported streaming platform. Ad revenue growth was partially offset by lower political advertising revenues and lower ratings.

FOX CORP HITS ADVERTISING REVENUE RECORD IN FIRST QUARTER

Fox’s cable programming, which includes Fox News Channel and FOX Business Network as well as its cable sports networks, grew revenue 5% to $2.28 billion in the quarter, while its advertising revenue rose about 7%. 

“Whether streaming, linear, social or digital, Fox News Media continues to meet our audiences where they are,” Fox CEO Lachlan Murdoch said on the company’s earnings call. “Over the past 12 months, a fast-moving and consequential news cycle has reinforced Fox News Media’s leadership position, with audiences turning to the network for live coverage and in-depth analysis.”

“Fox News again finished the quarter as the most watched cable network in total day, while maintaining its lead as the most watched cable news network and producing the top 11 cable news programs,” he noted. “According to recent Nielsen data, Fox News is the number one cable news network among all three political parties, which bodes well for the upcoming political election cycle.”

APPLE SEES BIGGEST SALES JUMP IN 4 YEARS, POWERED BY ‘STAGGERING’ IPHONE DEMAND

“On the digital side, social media views for Fox News Digital were up an astounding 170% over the prior year, and both Fox News and FOX Business ranked number one in YouTube video views among their peers during the quarter,” Murdoch added.

Murdoch said that Tubi saw its most streamed quarter of all time and grew total viewer time by 27% year over year, with the streaming platform’s content slate expanding to include a simulcast of an NFL game on Thanksgiving.

TUBI CEO: TUBI IS COMMITTED TO BEING A FREE STREAMER

Fox’s subscription streaming service, Fox One, completed its first full quarter since launching in August, and Murdoch noted the company hasn’t seen any cannibalization of traditional subscribers to date as it looks to market the platform to cord cutters. 

He said that live sporting events are driving the majority of engagement on Fox One, news accounts for about one-third of the minutes viewed and that news viewers engage with the platform more frequently than non-news viewers.

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Fox Corporation is the parent company of FOX Business.