Archive for November, 2025

• Morning News: November 18, 2025
  Eddy Elfenbein, November 18th, 2025 at 7:06 am

  Poor Countries Got $1 Trillion From China. So Did Rich Ones.

  Why Close Trade Partners China and Japan Can’t Get Along

  After Climate Push, Energy Companies Return to Fossil Fuels in Europe

  Al Gore Tells COP30 That the US May Have Reached ‘Peak Trump’

  High Hamburger Prices? White House Blames Biden and Migrants.

  As Struggling Farmers Take On Debt, a Bailout From D.C. May Come Too Late

  Trump Needs to Prove He Actually Cares About Affordability

  This Is How Our Economy Comes Crashing Down

  The Fed Balance-Sheet Debate Tilts Toward ‘Voodoo’ Economics

  The Fed’s Alarm Is On Mute: Lloyd Blankfein’s Advice for 2025

  You Don’t Need a Burry to Know Which Way the Bubble Blows

  Weinstein’s Saba Sells Credit Derivatives on Big Tech as AI Risks Grow

  Fed Vice Chair Says Economic Trade-Offs Justify Lowering Rates Slowly

  The Fed Is Cutting Bank Oversight. Critics See Risks.

  If the U.S. Treasury Employed Fraudulent “MMT,” It Would Have No Debt

  Why the CFPB Must Reject the Open Banking Experiment

  How a Private Equity Firm Left a $2.2 Billion Hole in a Life Insurer

  Klarna Revenue Surges as Longer-Term Loan Book More Than Doubles

  Bitcoin Drops Below $90,000 for the First Time in Seven Months

  A New Trump Resort in the Maldives Courts Crypto Investors

  A City Is Broke. Can a Billionaire’s Urbanist Dream Offer It a Last Chance?

  JPMorgan’s Pinto Warns of Possible ‘Correction’ in AI Valuations

  Outage at Cloudflare Disrupts Parts of the Internet

  ChatGPT, X Among Sites Down in Broad Cloudflare Outage

  Apple’s Vision Pro Isn’t the Flop It Seems

  The World’s Most-Watched YouTube Video Hasn’t Made Its Creator Rich

  Who Will Win Hollywood’s Big Prize?

  Cutting Ties With China Is Harder Than Companies Expected

  The Hidden Risk When Retailers Ask for a Five-Star Review

  If I Were CEO of Starbucks, I Would Fire the Strikers

  Panera Plans to Spend Millions on Better Sandwiches and Nicer Stores

  Trump Says US Is Creating Priority Visa System for World Cup

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• Morning News: November 17, 2025
  Eddy Elfenbein, November 17th, 2025 at 7:09 am

  Brazil’s Economic Activity Falls as High Rates Weigh on Growth

  Saving One of the World’s Most Important Carbon Sinks Is Big Business

  China Escalates Japan Spat With Threats of Economic Retaliation

  Trump Tariffs Push Japan’s Economy Into Contraction

  Ukraine’s Revival Is a U.S. Investment Opportunity

  Does the US Now Have a Casino Economy? Yes and No

  Pasta at Twice the Price? Some Italian Producers Face Huge U.S. Tariffs.

  White House Hunts for Ways to Lower the Cost of Living

  Why Every Fed Official Should Eat At Akron, OH’s Diamond Grille

  The Crypto Industry’s $28 Billion in ‘Dirty Money’

  Crypto’s Riskiest Tokens Plummet to Pandemic-Era Levels

  How to Not Get Kidnapped for Your Bitcoin

  The Offshoring of America’s Retirement Savings

  Jeffrey Gundlach Warns of ‘Garbage Lending’ as Private Credit Booms

  The ESG Return on Investment Reckoning Is Coming

  Trump’s Spending Abuses Are Out of Control

  They Rushed to Buy Homes During the Pandemic. Now, Some Feel Trapped.

  The Case for a Mortgage Policy That Almost Everyone Hates

  Layoff Tactics Keep Changing, and the Blunders Keep Coming

  The Job Market Is Heating Up — for Jobs That People Usually Don’t Want

  International Student Enrollment Drops After Trump’s Visa Overhaul

  For Too Many American Kids, Math Isn’t Adding Up

  Cash Grants Aren’t a Long-Term Solution to Global Poverty

  Novo Undercuts Lilly’s Obesity Drug Price for Cash-Pay Patients

  Hydropower Is Getting Less Reliable as the World Needs More Energy

  Rivian Bets Its EV Engineers Can Spin Out New Businesses

  The AI Investment Boom Is Quietly Entering Mania Territory

  US Sanctions Propel China AI Prodigy to $23 Billion Fortune

  ChatGPT Is Just Too Dangerous for Teenagers

  Spotify Needs to Stop AI Music From Reaching My Ears

  How ‘Baby Shark’ Drove Pinkfong to the Stock Market

  Sinclair Takes Stake in E.W. Scripps to Push Takeover Deal

  The Man Yelling ‘Iceberg!’ on the Hollywood Titanic

  Domino’s Invests in Rebrand (And Stuffed-Crust Pizza) to Keep Diners Coming

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• Morning News: November 14, 2025
  Eddy Elfenbein, November 14th, 2025 at 7:03 am

  Africa Needs 1 Billion Jobs by the End of the Century. Where Will It Find Them?

  China’s Economy Stumbles After Unprecedented Slump in Investment

  Short of Hoarding, China Can’t Keep ‘Rare Earths’ Out of the U.S.

  Oil’s Surplus Is Growing, But So Is Geopolitical Risk

  Europe Cannot Legislate Technological Supremacy

  Rachel Reeves Budget U-Turn Puts UK in a Tax Death Spiral

  How a BBC Documentary Triggered a $1 Billion Lawsuit Threat From President Trump

  Trump Readies Tariff Cuts, Trade Deals in Affordability Push

  What Bananas Tell Us Now About Tariffs and Inflation

  Janet Yellen Says the US Is Undermining Its Economic Success

  Bitcoin’s Bear Market Deepens as ETF Investors Yank $870 Million

  What Our Michael Burry Obsession Says About Us

  Watch for This Toxic Trifecta Before the Next Financial Meltdown

  Don’t Turn Deposit Insurance Into Another Middle Class Tax

  Companies Predict 2026 Will Be the Worst College Grad Job Market in Five Years

  Cyberattacks Are Up. So Why Are US Defenses Down?

  Anthropic Says Chinese Hackers Used Its A.I. in Online Attack

  “Industrial Policy” Should Be Opening Federal Lands To Data Centers

  Big Tech’s Dominance Depends on Our Laziness

  Emirates to Put Starlink on Aircraft in Major Win for SpaceX

  Inside the Frantic Push to Reverse Verizon’s Decline

  As First Brands Headed for Failure, Its Founder Spent Big in Europe

  Your 2025 Guide to Holiday Prices: Where Tariffs Are Biting and Where They’re Not

  Boomers Are Passing Down Fortunes — And Way, Way Too Much Stuff

  How to Not Drown Under All Your Parents’ Stuff

  Kennedy Walks a Tightrope on Trump Deal for Obesity Drugs

  Paramount, Comcast, Netflix Prepare Bids for Warner as Deadline Approaches

  25 Movies, Many Stars, 0 Hits: Hollywood Falls to New Lows

  Netflix Tries Bringing Family Game Night to Your TV

  Want a Meeting With the Girl Who Invented a Board Game? Get in Line.

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• Morning News: November 13, 2025
  Eddy Elfenbein, November 13th, 2025 at 7:01 am

  Zelenskiy Says Ukraine’s Survival Rests on Funds From Allies

  Russian Trademark Poachers Are Targeting Brands Like Armani and Amazon

  Cocaine Bonanza and a Defiant Colombian President Infuriate Trump

  Britain Is Preparing Tens of Billions in New Taxes—Again

  Record US Government Shutdown Ends as Trump Signs Spending Bill

  White House Says October Jobs, Inflation Reports Unlikely to Be Released

  The Shutdown’s Unseen Victims

  Better Economic Instruction Will Restore Economic Freedom

  Supreme Court Can’t Mend US Trade Policy

  NYC Is the Next Front in Trump’s War on Cities

  Atlanta Fed President Bostic to Retire Ahead of Reappointment Process

  Regional Fed Banks Could Be Next Front in Trump’s Pressure Campaign

  How To Increase Deposit Insurance Without Moral Hazard

  Jon Gray Is Reshaping Blackstone Into Everybody’s Investing Megastore

  Michael Burry’s Scion Hedge Fund Deregistered, SEC Filing Shows

  All About Denmark’s ‘Foundation’ Model, and Why it Matters Now

  If Border Closure Is Such Great Politics, What Happened On 11/4?

  Trump Administration Expected to Drastically Cut Housing Grants

  Builders’ Cheap Mortgages Are a Bad Deal for Home Buyers

  How Private Equity’s Vision for a Roofing Conglomerate Went Bust

  Threats of Nuclear Testing Ignore Its Terrifying History

  Oil Market Faces Growing Surplus as Inventories Climb, IEA Says

  A Fossil Fuel Fight Brews at COP30 as Delegates Draft Road Map

  Trump Is Helping Big Oil’s Return to Exploration

  Keep International Climate Policies Out of Americans’ Pocketbooks

  Electric-Truck Maker Harbinger Raises $160 Million

  The Luxury Electric Vehicle Is in Trouble

  Accenture and Jeffrey Katzenberg’s WndrCo Invest in AI Marketing Startup

  Some South Korean Workers Return to Georgia Factory After U.S. Reissues Visas

  Disney Posts Roughly Flat Quarterly Revenue as TV Declines Continue

  NBCUniversal Launching New Cable Sports Channel

  China ‘Singles’ Day’ Sales Show Modest Growth

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• Morning News: November 12, 2025
  Eddy Elfenbein, November 12th, 2025 at 7:06 am

  India’s Inflation Cools to New Low, Eases More Than Expected

  Why Factories Will Keep Looking for Alternatives to China

  Better for China To Be Reliant On Us Than Self-Sufficient

  Putin Allows Citigroup to Sell Its Russian Bank

  ECB’s Key Interest Rate Is in a Good Place, Says Schnabel

  The Fed Is Increasingly Torn Over a December Rate Cut

  Why We Can’t Have Another 1929

  This Is Why You Should Treat the Stock Rally With Skepticism

  Investors Now See Some Corporate Bonds as Safer Bets Than Government Debt

  Hedge Fund Giants Are Muscling Into Red-Hot Private Markets

  Wall Street to Speed Up India Hiring on Trump’s H-1B Visa Curbs

  JPMorgan Rolls Out Deposit Token JPM Coin in Digital Asset Push

  With Banking, Taxpayers Have a Big Stake In Big Data

  The I.R.S. Tried to Stop This Tax Dodge. Scott Bessent Used It Anyway.

  Raising the Social Security Retirement Age Would Be a Big Government Mistake

  Ending the Filibuster Would Still Be a Very Bad Idea

  What a Government Shutdown Solution Hasn’t Solved

  Car Loan Delinquencies Hit Record for Riskiest Borrowers

  Buffett’s Latest Letter Subtweets His Fellow Billionaires

  Who Didn’t Suffer During the Shutdown? People Flying Private.

  Missing at U.N.’s Climate Meeting: American Executives

  The US Is Making a $3 Trillion-a-Year Mistake

  Oil and Gas Demand Could Grow Until 2050, IEA Says

  Trump to Push for Oil Drilling off California Coast

  Chevron Is Getting More Serious About Power

  Billions Flow to US Nuclear Sector With Payoff Still Years Away

  Autonomous-Truck Company Einride Plans to Go Public in SPAC Deal

  Mariners Wanted: Six-Figure Salaries and Months at Sea

  Defense Tech Lures Students Looking for ‘Mission Over Money’

  SoftBank Sells $5.8 Billion Stake in Nvidia to Pay for OpenAI Deals

  Irish Government Might See Boost to Tax Revenues From AI, Weight-Loss Drugs

  Mark Zuckerberg Is Picking Groupthink Over an AI Godfather

  How Dyson Went From Fancy Vacuum Maker to Beauty Titan

  Why Build-A-Bear Has Been on an Nvidia-Like Run

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• CWS Market Review – November 11, 2025
  Eddy Elfenbein, November 11th, 2025 at 6:38 pm

  (This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

  We finally had some good news out of Washington. It appears that the government shutdown will soon come to an end. As I write this, Polymarket shows 95% odds that the shutdown will end between November 12th and 15th. The Senate has already passed a bill that will end the shutdown.

  Now it’s the House’s turn. They’ll start voting on the Senate’s bill tomorrow afternoon. If that passes, all it needs is the president’s signature and the government can reopen.

  The stock market celebrated the news yesterday with a big rally, and it was largely concentrated in tech and High Beta stocks.

  

  On Monday, the S&P 500 rallied over 1.5% while the Nasdaq was up more than 2.2%. The High Beta Index was up 1.69% and the Low Vol Index was up 0.08%. The tech sector gained almost 2.7% on the day. This is close to the inverse of what we’ve seen over the past two weeks.

  So what happened to break the political deadlock? Eight senators who are normally on the Democratic side of the aisle broke ranks and voted for a plan to fund most of the government through January.

  The shutdown was starting to add a level of chaos to certain parts of the economy. For example, about 5,000 flights were canceled from Friday through Sunday. According to the New York Times, “By Monday morning, more than 1,400 flights had been canceled for the day, more than 5.5 percent of scheduled trips.” There have been 602 reports of short staffing since October 1, more than six times as many as were reported on the same dates last year.

  I’m glad that will soon be behind us. I’m also looking forward to seeing some of the recent economic data that’s been left unattended.

  The stock market had an interesting day today because many stocks did well. The Dow rallied over 550 points to a new record. The weak spot is that the Nasdaq didn’t do so well today. It closed lower by 0.25%.

  Within the Nasdaq are many tech stocks and they’re influential enough to bring down the entire Nasdaq Composite. We can go further and see that a small group of very large companies can sink the entire tech market. In fact, Nvidia (NVDA) is big enough to do it by itself.

  In today’s trading, Nvidia closed lower by 2.96%. That’s a loss of around $145 billion which works out to around 18 points in the entire S&P 500. The tech sector was the only market sector to close lower today.

  Thanks to Nvidia’s loss, many Low Vol stocks gained back some relative strength they lost on Monday. High Beta’s relative performance peaked on October 24th. Low Vol has outperformed since October 29th. I can’t say if this is the start of a long-term rotation for these sectors, but High Beta has held the spotlight for a long, long time. All cycles on Wall Street come to an end.

  

  Interestingly, on Tuesday, the High Beta sector closed lower by 0.92% while Low Vol closed higher by 0.92%. Nice symmetry.

  Even though the stock market is near all-time highs, I do have some growing concerns about the state of the economy, especially the jobs market. For example, it appears that many of the job numbers are distorted by “ghost jobs.” These are jobs that are listed as being open but are never actually filled. It makes the labor market appear stronger than it truly is.

  Last week’s ISM Manufacturing report showed further contraction in the factory sector of the economy. This was the eighth monthly drop in a row.

  Wendy’s said it’s going to close 300 stores starting at the end of this year. The burger chain recently reported a 4.7% drop in same-store sales.

  U.S. companies recently announced the largest October jobs cuts in 20 years. Intel said it will reduce its workforce by 15% by the end of the year. Amazon plans to cut 14,000 corporate jobs. Walgreens cut its pay for hourly store workers after a $10 billion buyout.

  President Trump has floated the idea of giving all Americans, except high income folks, a check for $2,000.

  The October jobs report was scheduled to be released last Friday, but that’s been put on ice thanks to the government shutdown. Without the government data, we’re forced to rely on other sources. For example, the ADP private payrolls reports said that companies added 42,000 workers last month. Revelio Labs said the economy shed 9,100 jobs in October.

  This morning, ADP said that U.S. companies lost an average of 11,250 jobs over the last four weeks through October 25.

  The National Association of Realtors decided to replace a photo it was going to use in a new report because it showed a young couple. These days, those folks aren’t typical home buyers. Instead, the NAR used a photo of a couple near retirement age. The average home buyer is now 59 years old.

  Buffett Says Goodbye

  On Wednesday, Warren Buffett sent a letter to shareholders of Berkshire Hathaway. In it, Buffett said that he will no longer be writing Berkshire’s annual report or speaking at the annual shareholder meeting. I can hardly blame him for having some time off. After all, he’s 95 years old. At the end of the year, Greg Abel will take over.

  In his letter, Buffett gives us a lovely paean to Omaha and growing up in the heartland. Here’s a sample:

  Let’s look at a few other kids from that era, who grew up very nearby and greatly influenced my life but of whom I was for long unaware.

  I’ll begin with Charlie Munger, my best pal for 64 years. In the 1930s, Charlie lived a block away from the house I have owned and occupied since 1958. Early on, I missed befriending Charlie by a whisker. Charlie, 6 ⅔ years older than I, worked in the summer of 1940 at my grandfather’s grocery store, earning $2 for a 10-hour day. (Thrift runs deep in Buffett blood.)

  The following year I did similar work at the store, but I never met Charlie until 1959 when he was 35 and I was 28. After serving in World War II, Charlie graduated from Harvard Law and then moved permanently to California. Charlie, however, forever talked of his early years in Omaha as formative. For more than 60 years, Charlie had a huge impact on me and could not have been a better teacher and protective “big brother.”

  We had differences but never had an argument. “I told you so” was not in his vocabulary. In 1958, I bought my first and only home. Of course, it was in Omaha, located about two miles from where I grew up (loosely defined), less than two blocks from my in-laws, about six blocks from the Buffett grocery store and a 6-7-minute drive from the office building where I have worked for 64 years.

  Buffett also discussed his philanthropic plans for his estate. Buffett’s children will be looking after most of the funds in their respective trusts.

  Lastly, he added this note: “Berkshire will always be managed in a manner that will make its existence an asset to the United States and eschew activities that would lead it to become a supplicant.”

  This reminds me of Charles Wilson, who was often called “Engine Charlie.” Wilson was the CEO of General Motors, and he later become Ike’s Secretary of Defense.

  At his confirmation hearings, Wilson famously said, “What’s good for General Motors is good for the country.” Except that’s not what he said. This has become a famous misquotation.

  Wilson was asked if he could make a decision that was not in the interest of General Motors. Wilson said he could, but it would be unusual “because for years I thought what was good for our country was good for General Motors, and vice versa.” That’s quite a different answer and I’m glad to see Buffett endorse that tradition.

  Here are the last 30 years for Berkshire (BRK-A)

  

  That’s all for now. The government’s econ reports may be out soon. Until then, several Fed officials will be speaking this week. I’ll have more for you in the next issue of CWS Market Review.

  – Eddy

• Morning News: November 11, 2025
  Eddy Elfenbein, November 11th, 2025 at 7:06 am

  Trump Tower Plans in Belgrade Draw Thousands in Serbian Protest

  How Should Canada Respond to Trump’s Tariff Threats?

  Where the Taste of Home Comes With a Tariff Charge

  End the Shutdown, Buy the Dip

  It’s Going to Be Really Hard to Work Out How Much the Shutdown Hurt the Economy

  Dollar Carry Trades Set to Trounce World’s Booming Stock Markets

  Japan’s ‘Megabanks’ Seen Posting Solid Q2 Profits, On Track for Record Annual Earnings

  Never Have Federal Tax Cuts Ever “Starved the Beast”

  A High Corporate Tax Rate Would Heighten NYC Unaffordability

  Groups Sue to Reverse Trump’s Cuts to Energy Projects in Democratic States

  This Justice Department Is Redefining Who the Enemy Is

  Low-Income Shoppers Cut Spending and Businesses Worry

  A 50-Year Mortgage? It’s Not a Terrible Idea

  Why First Brands Has Sparked So Many Concerns on Wall Street

  ‘Going Quiet’: Nine Big Takeaways From Warren Buffett’s Last Letter as CEO

  Berkshire’s Buffett Plans to Keep Class A Shares Until Successor Wins Over Investors

  Emerging-Market FX Set for Fifth Day of Losses This Month So Far

  Morgan Stanley Adds KKR-Backed Wealth Tech to Speed Up Trades

  Why the GAIN Act Is a Net Loss for U.S. Technology

  CoreWeave Reports Doubling of Revenue From AI Boom

  Gamma, a PowerPoint for the A.I. Era, Raises $68 Million

  SoftBank Sells Nvidia Stake for $5.8 Billion to Fund AI Bets

  Nebius Sales Soar as Neocloud Provider Inks AI Deal With Meta

  The 20-Somethings Who Raised $121 Million to Build Military Drones

  Drugmakers Pile Into a Cancer Gold Rush With Questionable Payoff

  The Silicon Valley Beauty Brand Biohackers Are Obsessed With

  How Beauty Behemoth Ulta Conquered the American Strip Mall

  IKEA’s First Non-Swedish CEO Vows to Preserve Its Frugal Roots

  Paramount Reports Streaming Growth in First Earnings Since Skydance Merger

  Holes Grow in Hollywood’s Safety Net When It Is Needed Most

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• Morning News: November 10, 2025
  Eddy Elfenbein, November 10th, 2025 at 7:06 am

  Europe’s Economic Recovery Hopes Hang on Scarred Consumers

  China Tightens Controls on Fentanyl Precursors After Summit

  The True Cost of China’s Falling Prices

  Tariffs Are Hurting the People They’re Meant to Help

  US Ports Facing ‘Goods Recession’ Amid Holiday Lull, Tariff Woes

  Trump Administration Demands States ‘Undo’ Work to Send Full Food Stamps

  Airport Disruptions May Get Worse This Week

  US Flight Delays Set to Escalate on Chicago Snow, Tighter Limits

  As Flight Cancellations Rise, People Are Turning to Trains, Car Rentals and Creative Solutions to Get to Their Destinations

  It’s Trump’s Economy Now and Americans Don’t Seem to Love It

  Feeling Great About the Economy? You Must Own Stocks

  The Three ’A’s in the Trump Economy: AI, Asset Prices and the Affluent

  Senate Advances Plan to End Shutdown After Some Democrats Agree

  Bounty Hunters? They’re the Last Thing ICE Would Need

  The Trillionaires Are Coming. They Can Pay Their Workers Now.

  Will the Growth of Stablecoins Drain Bank Deposits?

  Hedge Fund Man Group Hails New Era After $13 Billion Mandate

  As Jimmy Carter Rises In Right’s Esteem, Let’s Remember Why He Lost

  Tricolor’s Frantic End Was Sparked by a Phone Call From JPMorgan

  AI-Trained Grads Edge Out Costly Advisers at Indian Wealth Firm

  Perplexity Is AI’s New Pit Bull

  Data Centers in Nvidia’s Hometown Stand Empty Awaiting Power

  Iron Ore Kingpins Head to Guinea as Giant Simandou Mine Nears Startup

  Alaska’s New Mining Rush Chases Something More Coveted Than Gold

  Tesla’s Cybertruck Chief Is Departing Electric-Vehicle Maker

  Glass Skin and Snail Mucin: South Korea’s Journey to Global Beauty Power

  Italian Pasta Is Poised to Disappear From American Grocery Shelves

  Instacart Gives Rosy Outlook Following Grocery Orders Beat

  Burger King Strikes Joint Venture to Double Presence in China

  Can the Tallest Running Shoe Out There Chart Path for Nike’s Comeback?

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• Morning News: November 7, 2025
  Eddy Elfenbein, November 7th, 2025 at 7:03 am

  China’s Exports Unexpectedly Falter as Prices Keep Falling

  China Suspends Some Export Controls on Critical Minerals but Retains Others

  Bank of Mexico Cuts Interest Rate for 11th Straight Time

  The Job Market Is Cooling but Not Collapsing (if Private Data Can Be Trusted)

  Mass Layoffs Are Scary, but Probably Not a Sign of the A.I. Apocalypse

  Cleveland Fed’s Beth Hammack Skeptical of Further Cuts

  The Fed’s Recent Rate Decisions Have Been Divisive. It Is Likely to Get Worse.

  Steven Miran Is Why We Can’t Trust Economists With the Economy

  Cash Is Not King. It’s Cringe.

  I.R.S. Halts Free Online Offering for Filing Taxes Directly

  The Executive Is Weakened No Matter SCOTUS Tariff Ruling

  Japanese Automakers Warn of Billions in Tariff Losses

  Facing Trump’s Tariffs, Swiss Farmers Find Themselves With Too Much Milk

  Chipotle Isn’t Serving Tariff Inflation — for Now

  Trump Administration Must Fund Full SNAP Benefits for November, Judge Rules

  Egregious Errors by Kings FDR and Mom Jeans Gave Us 2025 Shutdown

  Senate Democrats Want Fiserv to Detail Trump Official’s Tenure

  Flight-Cancellation Plans Prompt Scramble Across Travel Industry

  Another Victim of the Shutdown: Tourism in the Nation’s Capital

  Accountability: The Secret to Successful Leadership

  Businesses That Don’t Study Customers Have Unhappy Customers

  A $1.4 Billion Rare-Earth Deal With a Trumpian Twist

  OpenAI CEO Says U.S. Shouldn’t Bail Out AI Companies

  The Men Who Shaped the Internet Won’t Be Able to Fix It

  The AI Revolution Is an Afterthought for Phone Buyers

  Musk Wins $1 Trillion Pay Package, Creating Split Screen on Wealth in America

  Musk Answers $1 Trillion Tesla Payday With Over-the-Top Promises

  Some Tesla Shareholders Want It to Invest in xAI. The Board Isn’t So Sure.

  Obesity Drugs for All? White House Deal Is Just a Start

  What Trump’s New Drug Pricing Deal Means for People With Obesity

  Bayer Weights Roundup Exit as Cancer Legal Bill Nears $18 Billion

  World Cup Stadium Builder Plans Morocco IPO to Fund Order Boom

  Why Everyone in Hollywood Wants Their Movie in IMAX

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• Morning News: November 6, 2025
  Eddy Elfenbein, November 6th, 2025 at 7:09 am

  A Skeptical Supreme Court Puts Trump’s Economic Agenda in Question

  Five Key Takeaways From the Supreme Court Tariff Argument

  Bank of England Diverges From Fed With Rate Hold

  Bank of Canada Gov. Macklem Tells Lawmakers Rate Policy at ‘Right’ Level

  JPMorgan CEO Says Argentina May Not Need Bank Loan, Fed Will Likely Remain Independent

  The Fed’s New Patience Recognizes Reality

  Commerzbank Raises Interest Income Guidance Again

  Stablecoin Rewards Are the Shortcut to Financial Trouble

  Wise Shares Recover After Solid Results Ahead of U.S. Listing Move

  H-1B Visa Hopefuls Are Being Shut Out of Jobs by Wary Recruiters

  Rich Donors Bankroll Redistricting Fights Ahead of 2026 Elections

  Zohran Mamdani Is a Logical Effect of a City That Won’t Stop Booming

  Jamie Dimon of JPMorgan Says He Has Reached Out to Zohran Mamdani

  High Power Bills Are Now Swaying Elections in the US

  Builders Are Offering Mortgage-Rate Discounts. Home Buyers Aren’t Biting.

  Trump to Raise Food Benefit Payments After Calculation ‘Error’

  US Companies Announce Most October Job Cuts in Over 20 Years

  ‘Jenga Tower’ US Economy Teeters as Middle Class Pulls Back Spending

  AI Is Eating All the Earnings

  In An AI-Driven World, Human Connection Will Still Be King

  Snap Cuts Deal With Perplexity to Gain a Piece of the AI Action

  The UAE Is Winning the Race to Sequence an Entire Country’s DNA

  OPEC Output Rose Last Month as Restart Continued

  Brazil Is Developing a Weapon for Trade Wars: Fertilizer in the Amazon

  How Sparsely Populated Norway Amassed $1.8 Trillion

  U.S. to Reduce Flight Traffic by 10% at 40 Airports Because of Shutdown

  Air France-KLM Posts Lower Net Profit After Costs Rise

  Saga of Chinese Trucking Firm Exposes US National Security Gaps

  Would Elon Musk Work Harder for $1 Trillion Than $1 Billion?

  The Hurdles Elon Musk Must Clear to Unlock $1 Trillion in Tesla Pay

  Is Gen Z Romanticizing Cigarettes Again?

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