Highlights:

• Activist Palliser Takes Stake in Toilet Maker Toto in AI Play — Activist fund Palliser Capital has taken a stake in Japanese washlet maker Toto and is pushing the firm to promote its chip parts business to capitalize on AI demand. Bloomberg Technology

• Topshop Opens in John Lewis in Bid to Regain UK Clothing Appeal — Topshop and Topman are launching at John Lewis Partnership, marking their first large-scale UK high street presence in five years. Bloomberg Markets

• Musk's X Probed by Irish Data Watchdog Over Grok Sexual Images — Ireland's data protection authority has launched an investigation into X over concerns about sexualized images created using the Grok AI chatbot. Bloomberg Technology

• Modi Seizes AI Summit to Assert India's Global Ambitions After Tough Year — Prime Minister Narendra Modi is using an AI summit to reassert India's global standing after a challenging period. Bloomberg Technology

• AI Scare's $56 Billion Hit Tests Resilience of India's IT Stocks — India's tech services sector has lost $56 billion in market value amid AI concerns, creating potential buying opportunities for investors. Bloomberg Markets

• Gold Slides Below $5,000 as Lunar New Year Holiday Mutes Trade — Gold fell below $5,000 per ounce in thin trading as much of Asia closed for Lunar New Year. Bloomberg Markets

• Oil Holds Gain as Iran Conducts Naval Drills Before US Talks — Oil remained steady after its largest weekly gain, with Iran conducting naval drills near a key regional transit point ahead of US negotiations. Bloomberg Markets

• Nasdaq Futures Decline Before US Return to Trading — US equity-index futures extended losses and Treasury yields edged higher ahead of markets reopening after a holiday. Bloomberg Markets

• BHP's Bumper Copper Profits Offset China Drag on Iron Ore — BHP Group's first-half earnings jumped over 20% as surging copper prices offset weakness in China-focused iron ore and coal businesses. Bloomberg Markets

• Chile Cherry Sales to China Disappoint on Oversupply, Demand Lag — Chile experienced a second consecutive disappointing cherry export season to China after shipping excess fruit ahead of peak Lunar New Year consumption. Bloomberg Markets