Here are five things you must know for Tuesday, Sept. 26:
West Texas Intermediate futures fell 0.4% to $52 a barrel. Futures for Brent crude, the European benchmark, fell 0.63% to $58.06 a barrel.
Turkey's President Tayyip Erdogan on Monday, Sept. 25, said he could close the pipeline running out of the Kurdish region of Northern Iraq in response to a non-binding independence referendum that was held on Monday. The pipeline to the Turkish port of Ceyhan pumps about 500,000 to 600,000 barrels of oil per day and is the main transport route for the Kurdish regions oil exports.
3. -- KKR & Co. (KKR) is trying to persuade Apple to switch sides and join the private-equity firm in a bid for Toshiba Corp.'s (TOSYY) flash memory chip business, Bloomberg reported, citing a person familiar with the discussions.
Just days ago, Toshiba agreed to sell the unit to another group, led by Bain Capital, that included Apple, Dell Inc., SK Hynix Inc. and Seagate Technology PLC (STX) for for 2 trillion yen ($18 billion).
Apple has yet to agree to final terms with Bain and is negotiating the volume of chips to be supplied, another person familiar with the matter told Bloomberg.
Switching to the KKR group from the Bain group would require Apple to become more comfortable with Western Digital Corp.'s (WDC) role in its manufacturing joint venture partnership with Toshiba after the acquisition and that may still prove a sticking point, the person told Bloomberg.
4. -- Nvidia Corp. (NVDA) CEO announced late Monday that his company would provide provide artificial intelligence-focused GPU hardware to the data centers and cloud-service infrastructures at Alibaba (BABA) Cloud, Baidu Inc. (BIDU) and Tencent Holdings Ltd. (TCTZF) .
Nvidia said in a news release that Alibaba Cloud, Baidu and Tencent are upgrading their massive data centers, shifting from Nvidia's Pascal architecture-based systems to Volta-based platforms, which offer greater speed and scalability for AI inferencing and training.
The stock rose 3% in premarket trading.
Disney, the world's largest entertainment company, also is launching a new shopping website on Tuesday, executives told Reuters in interviews.
The moves by Disney are responses to the decline in shoppers who visit brick-and-mortar stores across the retail industry.
"We knew we needed to elevate and improve the experiences that we have both in stores and online as retail is changing," Paul Gainer, executive vice president of Disney retail, told Reuters in an interview.
This story has been updated from 6:06 a.m. ET.
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