Broadcom (AVGO.O): will develop and supply a range of custom ASIC silicon products for multiple generations of Apple products.

Microsoft will cut roughly 4,800 roles, about 2.1% of its global workforce, primarily in sales and the Xbox gaming division. The company had more than 220,000 employees before the reduction. Microsoft is trimming costs while increasing AI infrastructure spending and faces investor concern that AI could disrupt traditional software revenue. Last year the firm cut about 6,000 jobs in May and a further 9,000 in July (around 4% of staff). Earlier this year Microsoft offered a voluntary retirement buyout in the U.S. to employees at or below grade 67 with long service; of roughly 9,000 eligible staff, about one-third accepted, helping keep this year's layoff rate below last year's level.

BESSENT, speaking in the WHITE HOUSE Oval Office, said Trump accounts — tax-advantaged savings accounts for children under 18 — will provide the next generation an economic foundation to share the American Dream. He said the administration is building an "ownership economy" to make citizens shareholders and that 6 million US children have registered the accounts.