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Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections

Oct 9, 2026

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

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

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How Correspondent Banking Can Enable Sanctions Evasion

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Burnham promises to curb non-compete rules in job contracts

Oct 9, 2026

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

Oct 9, 2026

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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 Announces White House Inquiry Into Fed Governor Lisa Cook

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

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Highest Mortgage Rates in 3 Years Chills the Housing Market

Interesting Read

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

Trump trust bought millions in Meta, SpaceX in August

The trust that holds US President Donald Trump's assets bought millions of US dollars' worth of Meta and SpaceX securities in August, according to a document released on Thursday. Although the trust is managed independently, the thousands of trades made since the start of Trump's second term have drawn accusations of conflicts of interest. Many companies – notably SpaceX, with its US government contracts – stand to be directly affected by decisions of the Trump administration. According to the filing posted by the Office of Government Ethics (OGE), between US$5 million and US$25 million in shares of Meta, the parent of Facebook and Instagram, were purchased. In SpaceX's case, the purchase was of bonds – the company's debt – totalling between US$1 million and US$5 million. The trust also took smaller stakes in three data centre operators: CoreWeave, American Tower and Cogent Communications. The largest of those was in American Tower, at between US$51,000 and US$115,000. Several tech players also appear on the list, including AI chipmaker Nvidia – whose CEO advises Trump on AI – and Microsoft. As in previous months, the trust was highly active in the markets, with 517 transactions in August. The Meta purchases were by far the largest of any company in the filing. The US president's assets are held in a trust administered by his son Donald Jr. (AFP) Edited by Cecil Wong

Oct 8, 2026

Airlines Are Upgrading Wi-Fi. Not All Are Using Elon Musk’s Service.

Oct 9, 2026

Featured News

Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections

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

How Correspondent Banking Can Enable Sanctions Evasion

Burnham promises to curb non-compete rules in job contracts

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

Latest News

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