China’s central bank has purchased gold for 23 consecutive months, adding approximately 23 tonnes in September in its largest monthly purchase in nearly three years. The buying spree reflects Beijing’s efforts to reduce reliance on the U.S. dollar, while Chinese households and businesses increasingly turn to gold as a safe-haven investment amid economic uncertainty. China imported a record $158.8 billion worth of gold, totaling more … Continue reading China is importing a record amount of gold

Amazon is reportedly in talks to acquire Decart, an Israeli-founded artificial intelligence startup based in San Francisco, in a deal that could value the company at approximately $7 billion. Decart was founded in late 2023 by Dean Leitersdorf, 27, and Moshe Shalev, who met while serving in Israel’s military intelligence unit 8200. The startup has developed a software platform designed to train and run large, … Continue reading Amazon reportedly eyeing $7B deal to purchase Israeli-owned AI startup

PepsiCo reported better-than-expected third-quarter earnings, helped by stronger international sales. The company lowered its full-year profit forecast as its North American business continues to struggle with weak demand and rising costs. PepsiCo now expects adjusted earnings per share to grow between 2.5% and 3.5%, down from its previous forecast of 5% to 7%. The company is working to cut costs, improve its products and attract … Continue reading Pepsi shares rallied despite cutting profit guidance

The Trump administration has suspended Microsoft, Adobe and six other major technology companies from a federal program that helps skilled foreign workers obtain permanent residency in the United States. Vice President JD Vance accused the companies of abusing the system by laying off American employees while relying on foreign workers, saying the move is intended to protect U.S. jobs. The suspensions also affect Cognizant, Infosys, … Continue reading U.S. suspends Microsoft, Adobe from green card labor program in foreign worker crackdown

IMF Managing Director Kristalina Georgieva is urging governments to tighten spending as global public debt reaches its highest level since World War II and is projected to exceed 100% of global GDP before 2030. She warned that rising government bond yields are increasing borrowing costs and putting additional pressure on already strained budgets, particularly in heavily indebted advanced economies. Georgieva said governments can no longer … Continue reading IMF chief urges governments to tighten belts as global debt levels soar

Rising mortgage rates and high home prices are weakening demand, leaving many U.S. home sellers struggling to attract buyers. Mortgage rates have climbed above 7%, making monthly payments more expensive and pushing many potential buyers to delay purchases.  As homes remain on the market longer, sellers are increasingly cutting asking prices and offering concessions to encourage buyers to make deals. The housing market is also … Continue reading High mortgage rates strand home sellers as buyer demand plummets

U.S. stocks rose on Oct. 5, with the Nasdaq Composite reaching a record closing high as investors continued to favor technology and AI-related companies.  The S&P 500 gained 0.66%, while the Dow Jones Industrial Average rose 0.18% and the Nasdaq climbed 1.05% to 27,477.31.  Nvidia, Microsoft, Meta and Tesla were among the major technology stocks helping drive the gains, while Nvidia also reached a record … Continue reading S&P 500 rises to record high as yields move lower

Google has signed a 20-year agreement with Constellation Energy to secure 890 megawatts of additional nuclear power for its growing AI and data-center operations. The deal will fund upgrades at 11 existing nuclear reactors across Illinois, Pennsylvania and New Jersey, with Constellation investing more than $4.3 billion to increase their output. The first upgraded facility is expected to begin supplying electricity in 2028, with the … Continue reading Google signs 20-year nuclear deal with Constellation Energy to power AI build-out

The euro fell to a 17-month low against the U.S. dollar as investors grew increasingly worried about France’s high debt and political uncertainty.  French 10-year bond yields approached 5%, while the gap between French and German borrowing costs widened sharply, raising concerns about a possible return of eurozone debt-crisis dynamics.  Spain added to the uncertainty after Prime Minister Pedro Sánchez called a snap general election … Continue reading Euro hits 17-month low as French debt fears mount and Spain heads for snap election

Saudi Aramco CEO Amin Nasser warned that global oil inventories could take up to two years to rebuild as the U.S.-Iran war continues to disrupt energy supplies.  The closure of the Strait of Hormuz, a major route for roughly 20% of global oil and liquefied natural gas supplies, has sharply reduced shipments and increased pressure on markets.  Nasser said crude and refined-fuel supplies remain especially … Continue reading Saudi Aramco chief says replenishing global oil stockpiles could take two years

General Motors plans to add hybrid vehicles to its U.S. lineup as demand for hybrids grows while sales of fully electric vehicles weaken.  GM propulsion executive Mike Anderson said hybrids are “part of the plan,” but the company has not announced when the new models will arrive.  GM has largely avoided hybrids while investing heavily in electric vehicles, and currently sells only one hybrid model, … Continue reading GM says hybrid vehicles are coming

Ford reported 509,764 U.S. vehicle sales in the third quarter, down 6.6% from a year earlier, partly because it phased out the Escape and Lincoln Corsair. Ford said that excluding those discontinued models, its sales volume was essentially flat while the overall U.S. auto market declined about 1%.  Truck sales remained relatively strong, with Ford’s total truck sales rising 0.5%, while demand for hybrid vehicles increased … Continue reading Ford fends off Hyundai to retain No. 3 U.S. sales position in third quarter

Treasury yields fell after the September jobs report showed much weaker-than-expected hiring, with employers adding just 29,000 jobs compared with expectations of about 90,000.  The benchmark 10-year Treasury yield dropped to about 5.18%, while the two-year yield, which is particularly sensitive to expectations for Federal Reserve policy, fell to roughly 4.73%.  The weaker labor-market data reduced market expectations for another Federal Reserve interest-rate increase at its October … Continue reading 10-year Treasury yield falls after much weaker-than-expected jobs report

The U.S. added just 29,000 jobs in September, far below economists’ expectation of 90,000, while the unemployment rate rose to 4.2%. Average hourly earnings increased only 0.1% from August and were up 3% from a year earlier, while previous job estimates for July and August were revised down by a combined 60,000. The report suggests the labor market continues to follow a “low-hire, low-fire” pattern, with limited layoffs but employers also … Continue reading US added just 29,000 jobs, unemployment ticked up

The U.S. economy grew at a 2.2% annual rate in the second quarter of 2026, an upgrade from the Commerce Department’s previous estimate of 1.5%.  Consumer spending, which accounts for roughly 70% of economic activity, increased at a 3.8% annual pace, while business investment outside housing rose 9%, driven in part by continued investment in artificial intelligence.  Imports rose 12.6% and reduced reported GDP growth by nearly … Continue reading US economy grew a solid 2.2% in the second quarter, government says

Six Flags Magic Mountain has permanently closed its X2 roller coaster after more than two decades of operation and multiple reports of serious injuries. The ride was temporarily shut down in July after two riders suffered brain hemorrhages requiring surgery, prompting an ongoing inspection by California’s Division of Occupational Safety and Health. X2, originally opened as X in 2002 and redesigned with lighter trains in … Continue reading Magic Mountain closes X2 coaster permanently after history of injuries

The Federal Reserve’s inspector general found significant mismanagement but no criminal misconduct in the renovation of the Fed’s headquarters, whose projected cost grew to about $2.4 billion.  The report said the project began without a comprehensive cost estimate or maximum spending limit, while poor project and contract management contributed substantially to the cost overruns.  The findings are significant because President Donald Trump and members of his administration … Continue reading Fed watchdog finds renovation failures, but no grounds for criminal referral

The Federal Reserve’s preferred inflation gauge showed that core inflation rose 3.0% over the year in August, coming in below economists’ 3.3% forecast.  The broader Personal Consumption Expenditures (PCE) price index increased 0.3% in August, bringing annual headline inflation to 3.4%, while core PCE rose 0.2% for the month.  Energy prices were a major contributor to the increase, with gasoline prices rising 4.4% and transportation services increasing … Continue reading Fed’s preferred gauge showed core inflation at 3.0% in August

President Donald Trump announced plans to roll back Biden-era fuel economy standards for cars, saying the changes would reduce vehicle costs and encourage U.S. manufacturing. The rules, known as Corporate Average Fuel Economy standards, require automakers to meet average fuel-efficiency targets across the vehicles they sell. Under Biden’s 2024 rules, the fleetwide target was scheduled to rise from 39.1 miles per gallon to about 50.4 … Continue reading Trump says he is rolling back Biden-era US fuel economy rules for cars

Walmart CEO John Furner said the company will not use customers’ personal information or artificial intelligence to set personalized prices. He said prices may change because of factors such as product and transportation costs, but not based on a customer’s income, shopping history or urgency. Furner also said Walmart’s digital shelf labels are designed to improve price accuracy and reduce the work required to replace … Continue reading Walmart vows not to use customer data for personalized pricing

The USDA has recalled approximately 167,639 pounds of raw pork, beef and goat products from Star Meat Delivery Inc. after discovering they were produced without federal inspection and carried a false USDA inspection mark. The Class I recall, issued September 22, affects meat distributed nationwide through a Georgia distributor under the A&D Foods label. Recalled products include ground pork, chorizo, pork chops, ribs, beef ribeye, … Continue reading FDA Issues Highest Risk Level For Recall Of Over 160,000 Pounds Of Meat

U.S. Treasury yields surged to their highest levels in decades Thursday as oil prices climbed as high as $108 per barrel. The 30-year Treasury yield reached 5.47%, its highest level in 22 years, while the 10-year yield rose to 5.18%, its highest level since 2007. Higher Treasury yields pushed the average 30-year fixed mortgage rate to 7.37%, the highest level since May 2024. Oil prices … Continue reading Bond yields surge to fresh two-decade highs

California wine grape growers are struggling to sell their harvest as changing drinking habits have caused wine demand and sales to decline. Wine sales have fallen more than 20% over five years, leading grape prices to drop and growers to take about a quarter of California’s vineyards out of production. Many growers are choosing between harvesting grapes at a loss, leaving them on the vines … Continue reading California farmers are struggling to sell grapes as demand for wine drops

McDonald’s is expected to provide more details about its new global growth strategy, called McDonald’s > NEXT, during an investor day in Chicago. The strategy focuses on redesigned restaurants, improved food and drinks, and consumer-led innovation, but executives have so far provided few specifics. The presentation follows a weak recent quarter for McDonald’s U.S. business, where same-store sales rose just 0.8% while restaurant traffic declined. … Continue reading McDonald’s is hosting an investor day as its U.S. business struggles

DoorDash agreed to a $131.5 million settlement with New York City over allegations that it underpaid workers or delayed their payments. The settlement includes a $16.7 million fine and nearly $115 million in payments to about 264,000 delivery workers. DoorDash said the payments will address disputes over how it calculated pay for workers who were logged into the app but not making deliveries, as well … Continue reading DoorDash reaches $131.5M settlement with New York City over delivery workers’ pay