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

China has tightened export controls on rare earths and related technologies, barring citizens from unauthorized mining overseas and requiring foreign entities to obtain licenses for exports containing over 0.1% of Chinese rare earths or using Chinese technology. The new rules aim to prevent misuse in military or sensitive sectors, denying permits to companies linked to foreign militaries or on export-control lists. Restrictions now extend beyond … Continue reading China expands rare earth export restrictions ahead of possible Trump-Xi meeting

Kroger has recalled two pasta salad products—“Basil Pesto Bowtie Salad” and “Smoked Mozzarella Penne Salad”—due to potential Listeria contamination, the FDA announced Saturday. The salads, made by Nate’s Fine Foods in Roseville, California, were sold across 1,860 Kroger stores in 29 states between Aug. 29 and Oct. 2. Listeria monocytogenes can cause serious infections, with symptoms including fever, headaches, stiff neck, muscle aches, and in … Continue reading Kroger recalls deli pasta salads due to possible listeria contamination

Nearly 4 million pounds of Foster Farms chicken corn dogs have been recalled after pieces of wood were found in the batter, the U.S. Department of Agriculture said Saturday. The recall covers products made between July 30, 2024, and Aug. 4, 2025, and sold nationwide to retailers, institutions, and some government programs. At least five people were injured after eating the contaminated corn dogs, prompting … Continue reading Foster Farms corn dogs recalled after wood was found in batter

OpenAI and chipmaker Advanced Micro Devices (AMD) have announced a major partnership that could give OpenAI up to a 10% ownership stake in AMD. The deal involves OpenAI deploying 6 gigawatts of AMD’s Instinct GPUs over several years, beginning with a 1-gigawatt rollout in late 2026. AMD granted OpenAI a warrant for up to 160 million shares, with vesting tied to deployment milestones and AMD’s … Continue reading AMD stock skyrockets 25% as OpenAI looks to take stake in AI chipmaker

Rite Aid, once one of the largest U.S. pharmacy chains, announced Friday that it has permanently closed all of its remaining stores after years of financial decline. The company, which operated over 2,000 locations as recently as 2023, had struggled under mounting debt and filed for bankruptcy protection twice in less than two years. When it last filed in May 2025, Rite Aid still had … Continue reading Rite Aid shutters all stores after years of financial struggles

Unemployment in September remained largely unchanged at 4.34%, while both layoff and hiring rates slowed, according to new indicators from the Chicago Federal Reserve. The layoff rate held steady at 2.1%, while the hiring rate dipped to 45.2%, down 0.4 percentage points from August. Outplacement firm Challenger, Gray & Christmas reported that layoff announcements fell 37% for the month but total planned cuts for 2025 … Continue reading Report shows hiring at lowest since 2009

OpenAI completed a $6.6 billion secondary share sale, allowing current and former employees to sell stock at a record $500 billion valuation. The deal, which included investors such as Thrive Capital, SoftBank, Dragoneer, Abu Dhabi’s MGX, and T. Rowe Price, involved about two-thirds of the $10.3 billion in authorized shares. The sale follows a previous $1.5 billion transaction with SoftBank in November and solidifies OpenAI … Continue reading OpenAI wraps $6.6 billion share sale at $500 billion valuation

Tesla reported 497,099 vehicle deliveries in Q3 2025, up 7% from the same period last year, though production fell to 447,450 vehicles. Shares dipped more than 3% following the report, ahead of the company’s full financial results scheduled for Oct. 22. The quarter was marked by weak sales in Europe due to consumer backlash against Elon Musk and stronger competition from EV makers like Volkswagen … Continue reading Tesla deliveries rise 7% before EV tax credits expire

Gold surged to a record high on Wednesday as investors sought safe-haven assets amid U.S. government shutdown risks and weak labor data fueling expectations of Federal Reserve rate cuts. Spot gold rose 0.4% to $3,872.87 per ounce, while December futures climbed 0.7% to $3,901.40. The dollar weakened, boosting overseas demand. Analysts cited political uncertainty, a softer labor market, and the prospect of lower interest rates … Continue reading Gold hits record high on U.S. shutdown risks, rate-cut bets

The FTC is suing Zillow and Redfin, alleging the companies struck an illegal deal to suppress competition in online rental advertising. The lawsuit claims Zillow paid Redfin $100 million in exchange for ending contracts with other advertising partners, halting competing ads for multifamily properties for up to nine years, and syndicating Zillow listings on Redfin’s platforms. The FTC argues the deal reduces competition, raises advertising … Continue reading Zillow and Redfin accused of suppressing competition in lawsuit

Charlie Javice, founder of fintech startup Frank, was sentenced to 7 years and 1 month in prison for defrauding JPMorgan Chase by inflating her company’s customer numbers before its $175 million acquisition in 2021. Javice and her chief growth officer were convicted on fraud and conspiracy charges after a jury found that she had created millions of fake accounts to misrepresent Frank’s reach. In addition … Continue reading Startup founder Charlie Javice sentenced to 7 years in prison for defrauding JPMorgan Chase

Jaguar Land Rover plans to gradually resume production after a cyber-attack forced a shutdown on 1 September. The engine facility in Wolverhampton is expected to restart on 6 October, with other UK plants following in a phased approach. Full production may take several weeks to resume, the BBC has reported. JLR said its recovery program is underway, working with cybersecurity experts, the UK National Cyber … Continue reading JLR to resume some manufacturing in coming days after cyber-attack

European stocks rose on Monday as investors weighed the risk of a potential U.S. government shutdown. The Stoxx 600 gained 0.2%, with the FTSE 100 up 0.6%, while Germany’s DAX was flat and France’s CAC 40 rose 0.1%. Lufthansa shares climbed 1.3% after reporting strong free cash flow, earnings targets, and plans to cut 4,000 administrative jobs. Pharmaceutical stocks also advanced, led by Belgium’s UCB … Continue reading European stocks edge higher; Lufthansa plans to cut 4,000 jobs