Author: The Business Worldwide

Bank of America has upgraded Salesforce Shares outlook, expressing greater confidence in the software company’s ability to benefit from artificial intelligence (AI). The bank raised its rating on Salesforce from Underperform to Buy, signalling a major shift in its assessment of the company’s growth prospects.

Bank of America analyst Tal Liani also increased the price target from $160 to $285, reflecting optimism about Salesforce’s expanding AI strategy and its potential to generate additional revenue. Following the announcement on Monday, October 12, Salesforce shares gained as investors responded positively to the revised outlook.

AI Strategy Changes the Outlook

The upgrade reflects a reassessment of concerns that AI could weaken demand for traditional enterprise software. Previously, Bank of America had warned that AI tools might allow businesses to perform tasks without relying as heavily on established software platforms.

However, discussions with corporate technology leaders suggested that large companies are unlikely to abandon systems that manage essential business data, workflows, operational processes and compliance requirements.

Liani believes AI could strengthen the role of established enterprise software platforms rather than make them less relevant. Salesforce Shares existing customer relationships and extensive business data could help the company integrate AI into everyday corporate operations.

Agentforce and Enterprise AI Drive Growth Potential

Salesforce Shares is investing in AI through Agentforce, its platform designed to deploy AI agents that can perform tasks and support business processes. The company is also integrating AI capabilities with its existing applications and communication tools, including Slack.

Bank of America sees Salesforce’s approach as a combination of data management, business applications, AI agents and conversational interfaces. Together, these capabilities could help companies adopt AI while maintaining their existing systems and governance standards.

The bank also pointed to improving signs of AI monetisation, although adoption rates and the pace at which customers increase spending remain important factors to watch.

Investors Watch for Stronger Revenue Growth

The upgraded rating offers a more positive outlook for Salesforce as businesses increase their focus on AI. However, the company must demonstrate that its investments can translate into sustained revenue growth and wider adoption of its AI products.

Competition, slower customer spending and delays in AI adoption remain potential risks. Salesforce’s future performance will depend on how effectively it converts its AI capabilities into measurable business value and recurring revenue.

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US President Donald Trump is preparing to direct government officials to explore measures to increase domestic oil and fuel production as diesel prices approach record highs ahead of the November 3 congressional elections, according to three industry sources cited in a report.

The proposed directive is expected to instruct selected department heads to identify ways to control fuel prices and expand energy supplies. The move comes as the administration faces pressure to address rising fuel costs, which could become a significant issue for voters ahead of the elections that will determine control of Congress.

Defense Production Act Could Support Higher Output

According to the sources, the directive could take the form of a presidential memorandum. It is expected to encourage officials to examine the use of the Defense Production Act, a law originally introduced during the Cold War to support national defence requirements and strengthen domestic industrial production.

The administration is considering whether the legislation could help increase the production of oil and fuel. The proposed approach could also involve finding ways to bypass certain local and state regulations that currently restrict energy production.

However, the precise measures under consideration and the extent to which the law could be used to expand fuel supplies remain unclear.

Diesel Prices Become a Political Concern

The effort comes as diesel prices approach record levels, raising concerns about the broader economic impact of higher energy costs. Diesel is widely used in freight transportation, agriculture, construction, and other industries, making its price an important factor in operating expenses and the movement of goods.

Higher fuel costs can increase transportation and production expenses for businesses, potentially adding to inflationary pressures. These costs may also affect consumers when companies pass on a portion of their additional expenses through higher prices.

With the November 3 congressional elections approaching, controlling fuel prices could become an important priority for the administration.

Energy Production in Focus Ahead of Elections

The planned directive signals a possible effort by the Trump administration to use federal authority to address supply constraints and encourage greater domestic energy production.

By asking department heads to examine available legal and regulatory options, the administration aims to identify measures that could help expand output and ease pressure on fuel prices.

The proposal’s impact will depend on the specific actions officials recommend, the legal scope of the Defense Production Act, and whether additional production can translate into lower prices for consumers and businesses. Further details of the directive had not been provided by the three industry sources.

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Citigroup has appointed Rogier Pop, a former JPMorgan investment banker, to lead its diversified industrials business across the UK, Europe, the Middle East and Africa (EMEA), as the US banking giant continues to strengthen its investment banking operations in the region.

Pop joins Citi after an 18-year career in investment banking, during which he also worked at UBS. At JPMorgan, he led the capital goods investment banking unit across EMEA, bringing experience in advising industrial companies on major financial transactions and strategic decisions.

Citi Strengthens Its Investment Banking Team

The appointment reflects Citi’s continued efforts to expand its sector-focused investment banking teams and strengthen its position in the competitive European market. The bank has been recruiting experienced bankers from rival institutions, including JPMorgan, as it seeks to increase its share of global investment banking revenue.

Under the leadership of Vis Raghavan, Citi’s head of banking and a former JPMorgan executive, the bank has hired more than 70 managing directors globally over the past two years. These appointments form part of a broader strategy to build its advisory capabilities and compete more effectively with major Wall Street rivals.

Citigroup has also added specialists from firms including Lazard, HSBC and UBS to strengthen its coverage of key industries across EMEA.

Competition for Industrial Deals Intensifies

Diversified industrials banking involves advising companies across a range of sectors on mergers and acquisitions, fundraising, restructuring and other strategic transactions. Experienced bankers with established industry relationships can play an important role in helping financial institutions win mandates from corporate clients.

Pop’s appointment comes as major investment banks continue to build their teams and compete for advisory business across Europe. Banks are positioning themselves to benefit from potential growth in mergers and acquisitions and other corporate transactions.

Citigroup Targets Greater Market Share

Despite its recent recruitment drive, Citi still has room to expand its presence in the regional investment banking market. Dealogic data showed that the bank ranked fifth in EMEA investment banking fees during the first nine months of 2026, with a market share of 4.3%.

Citi has set a target of capturing 6% of the global investment banking fee pool. Strengthening its industrials team with experienced dealmakers such as Pop could support that ambition by broadening its sector expertise and deepening relationships with corporate clients.

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Samsung Electronics is expecting a record third-quarter operating profit as the global artificial intelligence boom continues to drive strong demand for advanced memory chips.

The South Korean technology giant said Thursday that its preliminary operating profit is expected to reach 107.40 trillion won, or about $80.2 billion. The figure marks the first time Samsung’s quarterly operating profit has crossed the 100 trillion won threshold.

The projected profit represents a 782% increase from the same period a year earlier. Samsung also forecast quarterly revenue of approximately 195 trillion won, up nearly 127% year over year.

Despite the record outlook, Samsung shares fell 0.7% during Thursday morning trading, reflecting investor concerns that the company’s results may not have exceeded already-high market expectations.

AI Demand Drives Memory Business

Analysts said Samsung’s performance highlights just how strong expectations have become across the semiconductor industry as companies continue to invest heavily in artificial intelligence.

Josh Gilbert, lead analyst for the Asia-Pacific region at investment platform eToro, said Samsung’s record profit still appeared insufficient to satisfy investors given the extraordinary expectations surrounding AI-related chip demand.

Josh Gilbert, lead analyst for the Asia-Pacific region at investment platform eToro, said Samsung’s record profit still appeared insufficient to satisfy investors given the extraordinary expectations surrounding AI-related chip demand.

The broader outlook for the memory chip industry remains strong, however. AI systems require significant amounts of memory, and limited supply has helped support demand and pricing.

The growth of AI agents could further increase memory requirements because these systems can handle more complex tasks and consume substantially more memory than basic chatbot applications.

Long-Term Chip Demand Provides Visibility

Another positive factor for Samsung is that memory buyers are increasingly entering multiyear supply agreements. Such contracts can give the company greater visibility into future demand and reduce concerns about sudden downturns in the memory market.

Samsung had already reported a record second quarter, with revenue reaching 171.5 trillion won and operating profit totaling 89.5 trillion won. Its memory business was a major contributor to those results.

Samsung Expands AI Investments

Beyond its chip operations, Samsung is also increasing its investments and partnerships in artificial intelligence. In September, the company announced a strategic partnership with French AI startup Mistral AI, with plans to deploy Mistral’s AI models across Samsung’s semiconductor operations.

Samsung is expected to release its complete third-quarter earnings later this month, including detailed results from its individual business divisions. Those figures will offer a clearer picture of how strongly AI-driven demand is contributing to the company’s growth.

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Anthropic has announced that its Claude artificial intelligence model is now available within Google Workspace as an add-on, bringing Claude’s capabilities directly into popular productivity applications.

The company said the integration is designed to help users work with documents, spreadsheets, and presentations without constantly switching between different applications. Claude can assist with editing, restructuring, data analysis, and presentation creation while working within the existing Google Workspace environment.

Claude for Google Workspace is currently available in beta to users on all paid plans. The add-on can be installed through the Google Workspace Marketplace.

AI Assistance in Google Docs

In Google Docs, Claude can make edits directly within a document while preserving surrounding formatting. Anthropic said users can ask the AI to correct sentences, rewrite sections, or change the style of headings without disrupting the rest of the document.

For larger changes, Claude can present suggested edits through cards in the sidebar. Users can review individual recommendations, then choose whether to apply or dismiss them.

The tool can also handle more complex editing requests. For example, users can ask Claude to shorten an executive summary and convert a document’s next steps into a table, with both changes made directly within the document.

Spreadsheet Tasks in Google Sheets

Claude’s integration also extends to Google Sheets, where it can assist with formulas, pivot tables, charts, and the creation of new tabs.

Anthropic said Claude can work with source data and use Python for tasks such as joining datasets and cleaning information before returning the processed results to the spreadsheet. Users can also provide source files and ask Claude to create detailed reports.

For instance, the AI can produce a third-quarter budget-versus-actuals report, organize information by team, generate a summary chart, and identify spending that exceeds the budget.

Building Presentations in Google Slides

In Google Slides, Claude can create new slides using the presentation’s existing layouts and themes, helping generated content fit naturally into an established deck.

The AI can also review its work and identify potential presentation issues, including overlapping elements, content extending beyond slide boundaries, and text that may be difficult to read.

With the new integration, Anthropic is positioning Claude as a broader productivity assistant capable of handling writing, data, and presentation tasks directly within Google Workspace.

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The International Monetary Fund (IMF) has cleared the way for Sri Lanka to access around $345 million in additional financing, providing further support to the country as it continues its economic recovery and implements reforms under its IMF-backed programme.

The latest funding approval is expected to strengthen Sri Lanka’s financial position while helping the government maintain progress on measures aimed at restoring economic stability, improving public finances and rebuilding investor confidence.

Support for Economic Recovery

Sri Lanka has been working through a difficult period of economic adjustment after facing severe financial and foreign exchange pressures. The country’s International Monetary Fund programmed is designed to help address these challenges through fiscal reforms, stronger revenue collection, debt restructuring and measures to improve the resilience of the economy.

The latest release of funds will give the government additional financial resources at a time when maintaining stability remains a key priority. IMF support has also been an important part of Sri Lanka’s efforts to restore access to international financing and strengthen its external position.

Reforms Remain Central to International Monetary Fund Programme

Access to IMF funding is linked to Sri Lanka’s progress in implementing agreed economic reforms. These measures include improving government revenue, managing public spending and strengthening the country’s financial institutions.

The IMF has stressed the importance of continuing reforms to ensure that the economic gains achieved so far are sustained. While economic conditions have improved from the crisis period, Sri Lanka still faces challenges related to debt, living costs and the need to maintain long-term growth.

The government’s continued cooperation with the IMF is therefore expected to remain important as it works toward meeting the programme’s targets and creating a stronger foundation for economic expansion.

Funding Adds Financial Cushion

The additional $345 million will provide Sri Lanka with greater financial flexibility as it manages its economic recovery. IMF disbursements can help support foreign exchange reserves and provide confidence to international lenders and investors.

For Sri Lanka, the latest financing represents another step in its broader recovery programme. Continued progress on reforms, combined with external financial support, will be critical as the country seeks to strengthen its economy, manage debt obligations and improve conditions for businesses and households.

The IMF’s decision also signals continued international backing for Sri Lanka’s economic reform efforts, while placing renewed emphasis on maintaining fiscal discipline and completing the measures required for sustainable recovery.

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