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China is aggressively expanding its crude oil reserve capacity amid a broader state-led stockpiling drive, adding 169 million barrels across 11 new sites through 2025–26 to better shield itself from external supply disruptions. So far, about 37 million barrels of this capacity is already built, which would amount to nearly two weeks’ worth of China’s…
Tesla is preparing to unveil a lower-cost version of its popular Model Y, aiming to reignite flagging sales and strengthen its grip on the electric vehicle (EV) market. The move comes as competition intensifies and EV demand cools after the expiration of U.S. tax credits. According to reports, this budget-friendly Model Y could be priced…
Nike posted a cautious but promising rebound in its fiscal Q1 2026 results, with revenue climbing 1 % to $11.72 billion, beating expectations despite ongoing headwinds. While earnings per share fell to $0.49, they surpassed analyst forecasts amid efforts to trim excess inventory and refocus on core performance categories like running. However, the quarter wasn’t…
U.S. auto sales accelerated in the third quarter of 2025, climbing nearly 6% year-over-year to around 4.14 million vehicles, according to industry data. The strong performance was largely fueled by a last-minute surge in electric vehicle (EV) purchases as consumers rushed to take advantage of the $7,500 federal EV tax credit, which officially expired on…
The world’s ultra-wealthy population is expanding fast — now reaching over 510,000 individuals with at least $30 million each, according to wealth intelligence firm Altrata. Their collective fortune tops a staggering $59.8 trillion, but the power balance among generations is about to change dramatically. Currently, baby boomers control nearly half of this wealth, while Millennials…
America’s richest are getting even richer. The top 10% of U.S. households gained a staggering $5 trillion in wealth during the second quarter of 2025, fueled by a surging stock market, according to new Federal Reserve data. Their combined wealth now stands at a record $113 trillion, up from $108 trillion in the first quarter….
U.S. online holiday spending is projected to rise 5.3% year-over-year to $253.4 billion, according to a new Adobe Analytics report. While the growth is slower than last year’s 8.7% jump, it signals that shoppers are still opening their wallets — with help from AI chatbots and an appetite for seasonal deals. Adobe, which tracks over…
Nike’s comeback plan is showing signs of early progress, but CEO Elliott Hill says a full return to profitable growth will take time. In an interview with CNBC’s Sara Eisen, Hill emphasized that the company’s global scale and diverse portfolio make its recovery “non-linear” and gradual. “When we come to work, we think about three…
The 2025 Nobel Prize in Physiology or Medicine has been awarded to Mary Brunkow, Fred Ramsdell (both from the U.S.), and Shimon Sakaguchi (Japan) for their work revealing how the immune system distinguishes between foreign threats and healthy tissue. Their research focused on peripheral immune tolerance and the discovery of regulatory T cells, a class…
Leading fund managers controlling over $1.5 trillion in assets are pressing the Bank of England (BoE) to pause its bond-selling program, warning that continued gilt sales are worsening market instability and adding billions to taxpayer costs. The BoE began offloading its £875 billion bond portfolio—built up during years of quantitative easing—but investors say the aggressive…
