Business news

• Venezuela tells China oil prices won't be set by the U.S., seeks to reassure investment after Maduro capture - Venezuela assured Beijing that its oil pricing will not be dictated by the U.S. and that Chinese investment in the South American country will remain secure.
• Novo Nordisk shares tumble 18% as CEO warns it will get worse before it gets better - Just as Novo Nordisk showed signs of a recovery, another cold shower hit investors as the drugmaker surprise prereleased its 2026 forecast late Tuesday, sending shares tumbling. 
• UBS beats expectations with $1.2 billion fourth-quarter profit, plans $3 billion buyback - UBS reported its fourth quarter earnings on Wednesday.
• Asian software stocks plunge after U.S. peers decline on fears over AI-led disruption - Wall Street's fears around artificial intelligence-driven disruption affecting software companies have made their way into Asia.
• Nintendo shares sink 10% as gaming giant faces memory shortage concerns - Nintendo fell over 10% in Asia trade as the gaming giant faces headwinds from an unprecedented memory shortage. 
• Gold extends gains, breaking past $5,000; Asia stocks mostly track Wall Street losses on tech pullback - Asia-Pacific markets mostly fell, tracking Wall Street losses as a sell-off in U.S. technology stocks weighed on sentiment.
• Pinterest CEO rebukes, fires 'obstructionist' employees who created tool to track layoffs - Pinterest CEO Bill Ready lashed out at staffers who created an internal tool to track layoffs at the company, and fired those involved.
• Fed's Stephen Miran resigns from White House post - Federal Reserve Governor Stephen Miran has stepped down from his position as chair of the Council of Economic Advisers, CNBC has confirmed.
• AMD shares drop as forecast comes up short of some expectations - AMD's first-quarter forecast fell short of what some analysts were hoping for amid an AI spending boom.
• Chipotle stock sinks as restaurant chain reports falling traffic, weak guidance - Chipotle stock has fallen about 33% over the last year, dragging the company's market value down to about $51 billion.