Israel's top stories
Nvidia CEO Jensen Huang resigned after revelations of extramarital romantic relationships, including a relationship with Alice Huang, who is suspected of spying for China. The company's shares fell following the resignation, and its market value dropped below $4 trillion.
Nvidia Turmoil Reaches Israel's Economy: About 40% of This Year's Growth Depends on Production Abroad
According to a Bank of Israel forecast, production by multinational companies outside the country's borders will add 2.2 percentage points to growth of 5.6% in 2026. A drop in Nvidia's sales will be felt mainly in GDP data, tax revenues and the debt ratio, and less in the labor market.
Ofra Strauss to join Top-Gum board
Strauss Group controlling shareholder Ofra Strauss is expected to join the board of Top-Gum, a supplement maker based in Sderot. Top-Gum's shares have fallen about 35% since the start of the year, and its value stands at about NIS 1.1 billion.
Oil prices surge on renewed tensions with Iran as US crude inventories rise
Brent crude rose to about $96 a barrel, after briefly dropping to $89, amid renewed tensions with Iran. At the same time, US commercial crude inventories rose by 4.7 million barrels, instead of the drop of about 0.7 million barrels the market had expected.
Investors on Wall Street and at the Tel Aviv Stock Exchange are grappling with market volatility, led by chip and technology stocks, after sharp declines in artificial intelligence shares. Major indexes rose and fell during the week, and oil prices moved within a narrow range.
Anthropic prepares record IPO on Nasdaq at valuation of about $1.4 trillion
Anthropic plans to raise up to $90.4 billion in an IPO and private placement to Google, Nvidia and AMD, and to trade on Nasdaq under the ticker ANT. Pricing is expected on November 18, and the target valuation ranges from $1 trillion to $1.4 trillion.
Tech and Capital Markets: Revenues Surge in Third Quarter, but Some Companies Report Losses and Declines
Israeli and international companies in the fields of technology, payments, defense and chips published third-quarter reports, and many of them showed revenue growth. However, profits eroded at some companies, and shares of some rose while others fell after the results were published.
Bitcoin Falls Below $70,000; $1.5 Billion Wiped Out in Crypto Market
Bitcoin fell more than 6% in a day, trading at $69,203, its lowest level since August. Its market value stands at $1.38 trillion, and liquidations across the crypto market exceeded the $1.47 billion mark.
US consumer prices rose 0.4% in October, above forecasts
US consumer prices rose 0.4% in October, against a forecast of 0.3%. The core index, which excludes food and energy, rose 0.3%, above the forecast of 0.2%, and completed three consecutive months of increases at the same rate.
Arkia employees seek to match offer for control of company
Arkia's employee trust has been given three days to match the purchase offer for control of the company signed with the Nakash brothers. The offer stands at $45 million.
The dollar strengthens against the shekel; representative rate set at 3.191 shekels
The representative rate of the dollar strengthened by 0.599% and was set at 3.191 shekels. The euro strengthened by 0.125% and its rate was set at 3.5374 shekels.
Omega of Liron Karsin Offers to Acquire Control of Halal Communications
Omega, the company of Liron Karsin, submitted the highest bid in the tender for the control shares of Halal Communications, which are managed by the controlling-share trustee, Adv. Hagai Ullman. The offer includes a premium of over 25% on the company's current market value, and if the court approves it, Omega will acquire 31.5% of Halal shares.
According to the CBS, about 21,750 apartments were sold in the third quarter of 2026, a decline of 5.7% compared with the previous quarter. The stock of unsold apartments stood at over 85 thousand, and sales of new apartments in Tel Aviv plunged by about 60%.
The Nekash brothers signed an agreement to transfer control of the airline Arkia to an investor group led by Yariv Lerner, which will inject tens of millions of dollars into the company. The deal was signed against the backdrop of losses of more than $30 million since the start of the year and a confrontation with employees.
Efi Nechasim expands residential market activity; net profit rises in third quarter
Efi Nechasim reported in its third-quarter report that net profit attributable to owners jumped to NIS 512 million, and revenues rose to NIS 300 million. The company is expanding its activity in the residential market, but the pace of apartment sales in its Landmark project is stalling.
Discount to refund customers about NIS 8.8 million over card fees
Bank Discount will refund about 70% of the card fees charged to its customers, in a total sum estimated at about NIS 8.8 million, under a settlement approved by the Central District Court in a class action. The bank denied the claims against it.
The Nekash brothers announced they have signed an agreement to bring investors into the Arkia airline, who will inject some $30 million into the company and become its controlling shareholders. At the same time, the Histadrut declared a labor dispute at the company over efficiency plans and cutbacks.
Cornerstone laid for "Bustanei Hefetz" industrial zone in northern Samaria
The cornerstone for the "Bustanei Hefetz" industrial zone in northern Samaria was laid at a ceremony attended by ministers Haim Katz and Nir Barkat, MK Boaz Bismuth, and Samaria Regional Council head Yossi Dagan. The zone will span 800 dunams and include 96 plots for industry, commerce and offices.
Marvell to lay off dozens of employees in Israel
Chipmaker Marvell is laying off dozens of employees at its development centers in Petah Tikva and Yokneam, out of about 500 employed there. The layoffs affect one of the company's engineering teams in Israel and are not part of a global wave of cuts.
Omri Casspi Invests in Edelbyte, Whose Valuation Reaches $500 Million
Israeli company Edelbyte has completed a $70 million fundraising round at a $500 million valuation, about six months after its founding. Among the investors is Omri Casspi, through his venture capital fund Swish Ventures.
Bank Leumi reports net profit of NIS 508 million in third quarter
Bank Leumi reported a net profit of NIS 508 million in the third quarter of 2026, a decline of about 13% compared with the same quarter last year. In the first nine months of the year, net profit totaled NIS 1.57 billion, a decrease of about 10%.
The costliest betrayal in history? This is the sum Nvidia CEO's wife is expected to receive
Lori Huang, wife of Nvidia CEO and founder Jensen Huang, has so far remained far from the spotlight, and together with her husband holds some 800 million shares of the company. Following Huang's admission of an affair with a woman suspected of being a Chinese spy, she is now at the center of attention, and the details of the financial settlement between them remain unclear.
Discount seeks to delay Kal sale after deal collapses
Bank Discount has restarted the process of selling Kal after the agreement to sell it to the Union-Harel group expired; the deal was priced at up to 4 billion shekels. The bank is asking to postpone the sale deadline, and Kal is asking the Finance Ministry for an extension.
Osem-Nestlé Launches PRO FIBER Line: Familiar Products Enriched with Protein and Dietary Fiber
The Osem-Nestlé group announced the launch of the PRO FIBER line, which combines protein and dietary fiber in familiar products such as Bamba, Pitot and Manna Hot. The launch comes against the backdrop of a global trend toward foods rich in fiber, and the investment in it is estimated at tens of millions of shekels.
Rami Levy and GT Nadlan to build a commercial center in Arad with an investment of about NIS 130 million
Rami Levy Nadlan and GT Nadlan will build a commercial complex named GT Center Arad in Arad, on an area of about 11,000 square meters. The project, with an investment of about NIS 130 million, has received a building permit and is expected to start soon.
Delta Expands Into Casual Wear and Basics; Quarterly Net Profit Falls 23%
Delta is expanding into casual clothing and basic items, a move that puts it in more direct competition with brands owned by the Fox group. With 170 stores, the chain is struggling to grow, and in the quarter revenue rose 3% while net profit fell 23%.
Asaf Elder to be appointed CEO of Bituah Yashir
Asaf Elder, deputy CEO and head of the banking division at Discount, will be appointed CEO of Bituah Yashir and will replace Kobi Hever, who is retiring after eight years. Elder announced his departure from the bank after 16 years there.
Discount to Allow Bitcoin and Ethereum Trading Directly From Bank Accounts
Discount Bank will allow its customers to buy and sell bitcoin and ethereum directly from their bank accounts, starting November 26. The service will include offsetting profits and losses against the investment portfolio and exemption from management fees for six months.
Trump's Plan to Import Russian Diesel Stalls; Tankers Change Course
President Donald Trump's plan to import diesel from Russia in order to lower fuel prices is running into difficulties. Several Russian tankers that were heading to the United States changed their route before reaching American ports, due to a lack of buyers.
Head of Banking Division at Bank Leumi Retires
Ron Grisaru, deputy CEO and head of the retail division at Bank Leumi, announced his retirement from his position after nearly a decade with the group. He joined the group in 2017 and has served as deputy CEO since six years ago.
