Japan will launch its first yen-backed stablecoin on Monday, issued by the startup JPYC and fully convertible to the yen, supported by domestic savings and government bonds. The move signals growing interest in digital currencies globally, with China and South Korea also exploring national stablecoins, while U.S. dollar-backed stablecoins currently dominate the market. Japan’s megabanks are planning to issue their own stablecoins, which could help … Continue reading World’s first yen-pegged stablecoin debuts in Japan

A softer-than-expected U.S. inflation report for September boosted market optimism, with traders now betting the Federal Reserve will cut rates at its upcoming October and December meetings. Major indexes, including the S&P 500, Nasdaq, and Dow, rose about 2% for the week, aided by strong corporate earnings, with 87% of companies beating expectations. Concerns remain over President Trump’s tariffs, such as a new 10% tariff … Continue reading Cooler-than-expected U.S. consumer inflation data

U.S. stocks surged to new intraday highs on Friday as cooler-than-expected inflation data boosted investor confidence that the Federal Reserve can continue cutting rates, supporting the economy and higher equity valuations. The Dow rose 565 points (1.2%), the S&P 500 gained about 1%, and the Nasdaq climbed 1.3%. September’s consumer price index showed a 0.3% monthly increase, bringing the annual rate to 3%, below economists’ … Continue reading Dow rises 500 points to record as Friday’s rally 

The Trump administration has approved expanded oil and gas drilling in Alaska’s Arctic National Wildlife Refuge (ANWR), opening 1.56 million acres of coastal plains and announcing a winter lease sale in the National Petroleum Reserve. The Interior Department also reissued permits for the controversial 211-mile Ambler Road Project, which would cut through Izembek National Wildlife Refuge, threatening migratory birds, wildlife, and Indigenous communities. Supporters, including … Continue reading White House approves increased oil and gas drilling in Alaska’s national wildlife refuge

The Consumer Price Index (CPI) rose 3% in September from a year earlier, slightly below economists’ forecast of 3.1%, as the impact of President Trump’s tariffs remained limited. The Labor Department released the data despite the government shutdown because it determines Social Security’s annual cost-of-living adjustment. Economists say tariffs continue to add modest upward pressure on prices, though inflation remains well below its 2022 peak … Continue reading CPI report shows inflation continued to climb in September

Gold rebounded Wednesday after a sharp two-day selloff, with futures rising 2.3% to $4,159.70 an ounce. The prior decline, including a 5.7% drop on Tuesday—the largest in over 12 years—was driven by profit-taking after a record-breaking rally. Despite the volatility, gold remains up nearly 60% in 2025, supported by central-bank buying, potential Fed rate cuts, and strong demand from foreign investors diversifying from dollars, Barron’s … Continue reading Gold Price Rebounds After Sharp Selloff

Amazon has introduced a new robotic system, Blue Jay, designed to perform multiple warehouse tasks simultaneously. The system uses robotic arms with suction cups on a conveyor-like track to pick, sort, and consolidate items in one streamlined process. Currently being tested in a South Carolina warehouse, Blue Jay can handle about 75% of stored items, aiming to improve efficiency and reduce physical strain on employees, … Continue reading Amazon introduces ‘Blue Jay’ warehouse robot that performs multiple tasks at once

The Trump administration is discussing taking equity stakes in quantum-computing firms, including IonQ, Rigetti, and D-Wave, in exchange for federal funding, according to the Wall Street Journal. Other companies, such as Quantum Computing Inc. and Atom Computing, are considering similar deals. Shares of the mentioned firms surged following the report, with gains ranging from 10% to 20%, CNBC has reported. The move reflects Washington’s broader … Continue reading Quantum stocks surge on report Trump eyeing stakes in the group like Intel

Sales of previously owned homes rose 1.5% in September to an annualized rate of 4.06 million units, marking the highest pace in seven months but slightly below forecasts. Compared with last year, sales were up 4.1%, with the South and Northeast seeing the strongest annual growth. Monthly gains were led by the West, while the Midwest experienced a slight decline, CNBC has reported. Falling mortgage … Continue reading Lower mortgage rates push home sales up in September

Millions of low-income Americans face losing food aid on Nov. 1 as half of U.S. states plan to suspend Supplemental Nutrition Assistance Program (SNAP) benefits due to the ongoing government shutdown. Twenty-five states, including California, Alabama, Indiana, and New Jersey, are notifying participants that checks will not be issued next month, with the USDA instructing states to halt distributions until further notice. States are struggling … Continue reading At least 25 states plan to cut off food aid benefits in November

Warner Bros. Discovery (WBD), owner of HBO, CNN, and other media assets, announced Tuesday that it is exploring a sale after receiving unsolicited interest from multiple parties. The company, valued at over $45 billion, said it will continue pursuing its planned split of cable networks from streaming and studio businesses while reviewing strategic alternatives. WBD’s studio and franchise assets, including Harry Potter and DC Comics … Continue reading Warner Bros. Discovery puts itself up for sale

Gold prices fell for a second day on Wednesday as investors took profits following a recent rally. Gold futures dropped $61.30, or 1.49%, to $4,053.10 per ounce, while major mining stocks like Newmont and Barrick fell over 4% in premarket trading. Analysts at UBS said the decline is largely technical, with no major economic or geopolitical events driving the pullback, and attributed it to slowing … Continue reading Gold and related stocks are falling for a second day

Gold prices surged over 2% on Monday, driven by expectations of U.S. interest rate cuts and safe-haven demand ahead of U.S.-China trade talks and delayed inflation data. Spot gold rose to $4,336.94 per ounce, with December futures climbing 3.3% to $4,354, following a record high last Friday. Investors anticipate further gains, with analysts projecting prices could reach $4,500 or even $5,000 per ounce next year … Continue reading Gold climbs on rate-cut bets, broader uncertainty

L’Oréal will acquire Kering’s beauty unit, including the Creed fragrance line, for €4 billion, marking its largest deal in 116 years. The move expands L’Oréal’s luxury fragrance portfolio and gives it a 50-year license to develop products under Bottega Veneta, Balenciaga, and eventually Gucci. Kering, which bought Creed for €3.5 billion in 2023, aims to reduce debt and focus on fashion, Axios has reported. The … Continue reading L’Oreal paying €4 billion to buy Creed and other luxury fragrances

China’s economy grew 4.8% in the third quarter, the slowest in a year but matching analyst expectations despite a real estate slump. Fixed-asset investment, including real estate, fell 0.5% in the first nine months, with property investment dropping 13.9%, the steepest decline in years. Excluding real estate, investment and private sector spending slowed, signaling weakened confidence in the economy, CNBC has reported. Industrial production grew … Continue reading China’s economy grows 4.8% in third quarter as expected

Treasury Secretary Scott Bessent said the Trump administration plans to set price floors across multiple industries to counter market manipulation by China, particularly in rare earths. China’s dominance in refining and processing rare earths has driven foreign competitors out of business, prompting the U.S. to pursue industrial policy measures, including forward buying and strategic mineral reserves. Rare earths are critical for U.S. defense systems like … Continue reading Trump administration will set price floors across range of industries to combat China

Grocery prices are rising sharply, frustrating consumers across the U.S. Rib-eye steaks, ground beef, coffee, and other staples have seen significant price increases in recent months, driven by rising commodity costs, tariffs, and supply-chain pressures. Shoppers are responding by buying smaller packages, using coupons, switching to more affordable stores, and making strategic substitutions in their meals. Executives from companies like Albertsons, McCormick, and Mondelez note … Continue reading Grocery Prices Keep Rising

Federal Reserve Chair Jerome Powell warned that a sharp slowdown in hiring poses a growing risk to the U.S. economy, signaling that the Fed is likely to cut interest rates twice more this year. Despite the government shutdown limiting economic data, Powell said the outlook for employment and inflation remains largely unchanged since the September rate cut. Lower rates would reduce borrowing costs for consumers … Continue reading Fed Chair Powell says hiring slowdown poses economic risks

Brent and U.S. crude oil prices fell over $2 per barrel, or more than 3%, on Friday as President Trump’s threat of increased tariffs on China raised concerns about global demand. Brent settled at $62.73, its lowest since May 7, while West Texas Intermediate (WTI) fell to $58.90, marking its lowest level since early May. Analysts cited a combination of factors including OPEC production increases, … Continue reading Trump tariff threat pushes oil to five-month low

President Trump announced on Truth Social that the U.S. will impose a 100% tariff on Chinese goods starting November 1, 2025, in response to China’s “extraordinarily aggressive” new export controls affecting multiple countries. He warned the timeline could be moved up depending on China’s reaction and said export controls targeting China’s access to “critical software” would take effect the same day. Trump also cited China’s … Continue reading Trump says US will impose additional 100% tariff on Chinese goods

Bitcoin plunged from $121,000 to $109,000 in about seven hours Friday, triggering nearly $20 billion in liquidations across the crypto market, mostly from long positions. Ethereum fell to $3,686 and Solana to just above $173, while stocks also tumbled, with the Nasdaq down 3.6%, the S&P 500 2.7%, and the Dow 1.9%. The sell-off followed President Trump’s cancellation of a planned meeting with China’s Xi … Continue reading Bitcoin, Ethereum Rebound Following ‘Largest Single-Day Wipeout in Crypto History’

The IRS announced new federal income tax brackets and standard deductions for 2026, raising income thresholds across all brackets. Long-term capital gains brackets, estate and gift tax exemptions, and earned income tax credit eligibility were also increased. For 2026, the top tax rate of 37% applies to individuals earning over $640,600 and married couples earning over $768,700. The standard deduction will rise to $32,200 for … Continue reading IRS announces new federal income tax brackets for 2026

The Trump administration purchased Argentine pesos and finalized a $20 billion currency swap with Argentina’s central bank to stabilize the country’s struggling finances. Treasury Secretary Scott Bessent emphasized swift U.S. action to support Argentina, whose peso recently fell sharply amid dwindling foreign reserves. The deal has drawn criticism from U.S. farmers and Democratic lawmakers, who argue it acts as a bailout while Americans face economic … Continue reading US buys Argentinian pesos, finalizes $20bn currency swap, says US Treasury

The IMF and Bank of England have warned that global stock markets could face turbulence if investor enthusiasm for AI falters. IMF Chief Kristalina Georgieva highlighted signs of market vulnerability, citing soaring gold prices, high U.S. tariffs, and elevated stock valuations amid AI-driven euphoria. She cautioned that easy financial conditions may mask weakening trends, which could shift abruptly. The Bank of England similarly noted stretched … Continue reading IMF and Bank of England join growing chorus warning of an AI bubble

Gold surged past $4,000 per ounce for the first time on Wednesday, fueled by geopolitical and economic uncertainty and expectations of U.S. interest rate cuts, with silver also hitting record highs. Spot gold rose 1.52% to $4,044.09, while December U.S. gold futures settled at $4,070.50, up 1.7%. Silver climbed 2.4% to $48.97, after briefly reaching $49.57, with tight supply and strong demand supporting the rally. … Continue reading Gold shatters $4,000 milestone, silver belts record high as investors rush to safety