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Trump announces deal for Russian diesel as Zelensky calls it a gift to Putin

Oct 10, 2026

Ukraine's president sharply criticised the move, calling it an "investment in war that must be ended, not prolonged".

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Trump Announces White House Inquiry Into Fed Governor Lisa Cook

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Oct 9, 2026

Private Medicare Plans Are Raising Costs And Forcing Millions To Find New Insurance

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Interesting Read

US stocks close higher ahead of earnings

US markets closed higher, with investors shifting their focus to next week, with third-quarter earnings season set to start and inflation data expected, which could shed light on the Federal Reserve's ⁠next policy decision. All three major US stock indexes advanced on the day, logging weekly gains. "It's the kind of back-and-forth market we've been in where we have the reversal of sentiment around Iran," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky. "With conflicting headlines coming out of the White House and parties in the Middle East, there's just no edge there." "That's why it's a fairly tepid rally," Mayfield added. Crude prices initially retreated after US President Donald Trump said the US will not launch any attacks on Iran before the midterm elections, adding that talks between Washington and Tehran aimed at ending the market-rattling Iran war were "productive." Front-month West Texas Intermediate oil and Brent crude ⁠both settled up 0.4 percent. Benchmark Treasury yields edged higher, but remained below Wednesday's 24-year high. Third-quarter ⁠reporting season begins in earnest next ⁠week, with big US banks Wells Fargo, Goldman Sachs, Citigroup, JPMorgan Chase, Bank of America and Morgan Stanley scheduled to release results. The mood of American consumers, who shoulder about 70 percent of the US economy, has soured this month, according to the University of Michigan, with near-term expectations deteriorating to an all-time low. The Dow Jones Industrial Average rose 423.31 points, or 0.83 percent, to 51,654.95, the S&P 500 gained 46.15 points, or 0.59 percent, to 7,811.54 and the Nasdaq Composite ⁠gained 172.83 points, or 0.64 percent, to 27,366.17. AI-related momentum stocks were generally higher, with the Roundhill Magnificent Seven ETF up 1 percent as the US bull market, largely driven by the AI boom, approaches its four-year anniversary. "Chips have been this year's story," said Michael Monaghan, portfolio manager at Founder ETFs in Dallas. "(It's) a multidecade technological change and just at the beginning of whatever's happening, not at the end." Elon Musk's SpaceX struck a deal to acquire a nationwide low-band spectrum portfolio, posing a direct challenge to US wireless companies. Telecom firms T-Mobile US , AT&T, and Verizon dropped between 8.8 percent and 13.3 percent. Apple slid 1.1 percent after a media report that the iPhone maker has told some suppliers to cut production of components for its newly launched iPhone 18 Pro and iPhone 18 Pro Max, as soaring memory chip costs and price increases dampen consumer demand. (Reuters) Edited by Robert Kemp

Oct 9, 2026

Stocks making the biggest moves midday: T-Mobile, Verizon, AT&T, Crown Castle, Teva & more

These are some of the stocks posting the largest moves midday.

Oct 9, 2026

Wayne Lawson, Vanity Fair’s ‘Secret Weapon,’ Has Died

Working with Mr. Lawson, reporters said, was like taking a master class in writing: “He was a throwback to the old style of editing.”

Oct 9, 2026

Stocks making the biggest moves premarket: Delta Air Lines, SpaceX, T-Mobile, Humana & more

These are the stocks posting the largest moves premarket.

Oct 9, 2026

Blockchain.com seeks U.S. approval for prediction markets, crypto derivatives trading

Blockchain.com is seeking CFTC designation and registration to offer U.S. event contracts and cryptocurrency derivatives.

Oct 9, 2026

HK stocks punch up as internet plays regain ground

The mainland's blue-chip stock index edged up on Friday and closed the holiday-shortened week near its lowest level in more than a year as a selloff in AI-related supply chain shares ⁠deepened, while Hong Kong stocks rebounded on gains in internet companies. The benchmark Hang Seng Index rose 425 points, or 1.8 percent, to 24,211 on turnover of HK$209.2 billion. For the entire week, the index climbed 1 percent. The tech index rose 124 points, or 3.1 percent, to 4,197 but was still hovering near a two-year low while the China enterprises index ended the day 137 points, or 1.7 percent, higher at 8,147. On the mainland, the CSI300 Index ended 0.2 percent higher while the Shanghai Composite Index inched up one point to close at 3,813 on turnover of 888.56 billion yuan. For the week, the CSI300 was down nearly 1 percent and has fallen for nine straight weeks. The Shenzhen Component Index rose 20 points, or 0.17 percent, to 12,641 on turnover of 1.01 trillion yuan while the ChiNext Index was up six points, or 0.22 percent, at 3,043 on turnover of 492.05 billion yuan. The 5G ⁠Communication Index fell up to six percent to a ⁠two-month low. The tech-focused ⁠Star50 Index shed as much as four percent to a five-month low before closing roughly flat. Sentiment improved in ⁠the afternoon session, with turnover ‌in some key blue-chip and small-cap ETFs, such as Huatai-PB CSI300 ETF, reaching its highest in ‌nearly two months. Zhongji Innolight, a leading maker of optical transceivers, slid one percent while ⁠memory chip giant CXMT closed up one percent. China's stock benchmarks are near levels hit two years ago when a stimulus bonanza from Beijing lit up share prices ‌and boosted hopes for a slow bull run, which is now limping into a three-month downtrend. The coal index was up 1.4 percent while consumer staple shares gained 0.8 percent as investors rotated into more defensive ⁠and ‌traditional sectors to curb risk. In Tokyo, the Nikkei slipped 11 points, or 0.02 percent, to close at 69,030 as the benchmark limped to a weekly loss of 0.39 percent for the week and investors weighed prospects for the red-hot AI sector. The broader Topix gained 13 points, or 0.33 percent, to 4,104 on Friday. (Reuters & Xinhua) Edited by Edmond Fong

Oct 9, 2026

Tokenization could unleash tens of billions of dollars in trapped capital, Nasdaq CEO says

Nasdaq CEO Adena Friedman said tokenization could free up tens of billions of dollars in trapped capital.

Oct 9, 2026

HK stocks up as Asian markets get bout of AI jitters

Asian stocks slipped on Friday and were poised for a second straight weekly drop as investors fretted about elevated energy prices, bond market ructions and the huge sums needed to fund AI investment. In Hong Kong, the benchmark Hang Seng Index opened up 155 points, or 0.65 percent, at 23,941 and was 239 points higher in early trading. The China enterprises index rose 46 points, or 0.58 percent, to 8,057 and the tech index was 11 points, or 0.29 percent, higher at 4,085. The Shanghai Composite Index opened down seven points, or 0.21 percent, at 3,804. The Shenzhen Component Index slipped 63 points, or 0.51 percent, to 12,557 while the ChiNext Index was 15 points or 0.5 percent, lower at 3,021. With South Korean markets closed for a public holiday, the Nikkei in Tokyo opened 393 points, or 0.57 percent, down at 68,648 and was 479 points lower at one stage before noon. The mixed market openings came soon after US President Donald Trump said the United States would not launch an attack on Iran before November's US midterm elections, although traders remained sceptical of any progress being made to end the war. "The big question for markets is whether Trump sticks to his word if Iranian attacks intensify," said Nick Twidale, chief market strategist at ATFX Global. "Any indication that the White House is reconsidering military action could see oil prices spike sharply higher, particularly with tanker traffic through the Strait of Hormuz already under significant pressure." Tech stocks led Wall Street's main indices lower overnight after a report that OpenAI's annualised revenue was US$20 billion less than the company previously signalled hit sentiment. "It has been a sea of red across technology, AI infrastructure and semiconductors, with the OpenAI headlines seemingly providing the catalyst for investors to take some exposure off the table," said Chris Weston, head of research at Pepperstone. "For now, though, the price action suggests investors are becoming more selective about where they want exposure and, importantly, what price they are prepared to pay for future growth," he said in a note. Investors were also weighing a massive round of fundraising that appears to be on the way, with SpaceX, Broadcom and Oracle all expected to raise billions to buy high-end AI chips. Australia's Firmus, a data centre operator backed by Nvidia , shelved its US$5 billion initial public offering, citing market volatility and conditions, and said it would opt for a private fundraising round instead. A toxic mix of higher energy costs, expectations of central bank interest rate hikes and concerns over rising government debts have fuelled a months-long global bond selloff, pushing borrowing costs to multi-decade highs. "With long-term yields back around multi-decade highs, investors no longer have the luxury of valuing AI growth in a low-cost-of-capital world," said Charu Chanana, chief investment strategist at Saxo. Chanana said higher sovereign yields and now rising corporate issuance to fund AI infrastructure mean capital is becoming "both more expensive and more selective, which puts balance sheets and the quality of future earnings firmly in focus". (Reuters & Xinhua) Edited by Edmond Fong

Oct 9, 2026

WTO hikes 2026 trade growth forecast on AI boom

The WTO on Thursday sharply raised its global trade growth forecast for 2026, with merchandise trade riding the AI boom and proving more resilient than expected amid the Middle East crisis. Thanks to supply chain adaptations and the surge in artificial intelligence investments, the World Trade Organization now projects 3.9 percent growth in the volume of merchandise trade this year, up from the 1.9 percent predicted in March. The WTO is forecasting 4.1 percent trade growth next year, up from the 2.6 percent predicted seven months ago. Global GDP is expected to grow by 2.6 percent this year and 2.9 percent in 2027, it added. "The numbers reflect trade resilience in action," said WTO chief Ngozi Okonjo-Iweala. "When disruptions strike, an integrated world economy and a rules-based trading system provide economies flexibility to keep essential products flowing to businesses and households that need them," she said. "Nevertheless, some have felt the shock more than others, and not everyone can access emerging opportunities like AI." The WTO said that while disruptions of shipments through the Strait of Hormuz had reduced energy supplies and raised prices of key energy products and fertilisers, most economies outside of the region had remained resilient. It said supply chains had successfully adapted to disruptions in the energy, fertiliser and transport markets caused by the Iran war. Merchandise trade grew by 3.5 percent in the first half of 2026, exceeding WTO expectations. Global crude oil exports fell by only about six percent, and liquefied natural gas exports dropped by one percent. Meanwhile global container traffic actually increased by 3.9 percent during the first seven months of 2026. And strong demand linked to AI investment "more than offset the negative effects" of the conflict. Increased spending on semiconductors, data centres and digital infrastructure raised demand for imported AI-enabling goods, providing a significant boost to global goods trade. Trade in semiconductors, servers and other equipment essential to AI surged by 67 percent year-on-year in the first half of 2026. That alone accounted for 47 percent of global merchandise trade growth, accelerating an expansion trend that was already robust in 2024 and 2025, the WTO said. WTO chief economist Robert Staiger told reporters the organisation was "surprised" that the Middle East conflict did not reduce trade as much as had been feared, and likewise "surprised in the strength of the AI investment boom." "But any slowdown in AI investment could precipitate a slowdown in trade," he warned. In 2026, Asia is expected to record the fastest merchandise export growth (9.9 percent), followed by North America (5.7 percent). Export performance is projected to remain weak in Europe, down 0.1 percent, and to contract sharply in the Middle East, down 17.2 percent. (AFP) Edited by Cecil Wong

Oct 9, 2026

Clara Wu Tsai, the Billionaire Who Wants Brooklyn to Win

Clara Wu Tsai, a co-owner of the Liberty, is hoping the W.N.B.A. team pulls through tonight. She also has ambitions for the borough beyond more championships.

Oct 9, 2026

Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections

The $500 checks are accompanied by a letter signed by the president that criticizes the Biden administration for overcharging Americans for health insurance.

Oct 9, 2026

Burnham promises to curb non-compete rules in job contracts

The prime minister says restrictions on what workers can do after leaving roles have "gone too far".

Oct 9, 2026

Whistle-Blower Says I.R.S. Leaked His Tax Records in Retaliation

Brian J. Visalli, a veteran investigator of tax fraud, said in a lawsuit that the agency had sent his personal and tax information to federal prosecutors.

Featured News

Trump announces deal for Russian diesel as Zelensky calls it a gift to Putin

Boots has a new owner: Three ways it could affect you

Big Controversy Upends a Contest About Microscopic Videos

Analysis: Trump's shock Russia deal highlights mounting pressure to curb fuel prices

Trump Announces White House Inquiry Into Fed Governor Lisa Cook

Latest News

Private Medicare Plans Are Raising Costs And Forcing Millions To Find New Insurance

Trump wants to reduce the cost of fuel as the midterms loom - will it work?

Target Says It’s Not Working With ICE Amid Uproar Over Parking Lot Use

China and Europe Step Back From Trade War With Limits on Chinese Car Exports

How Correspondent Banking Can Enable Sanctions Evasion

Interesting Read

Clara Wu Tsai, the Billionaire Who Wants Brooklyn to Win

Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections

Burnham promises to curb non-compete rules in job contracts

Whistle-Blower Says I.R.S. Leaked His Tax Records in Retaliation

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