Morning News: October 21, 2025
Posted by Eddy Elfenbein on October 21st, 2025 at 7:07 am

Sanae Takaichi Becomes Japan’s First Female Prime Minister

Walking the US-China Tightrope

China Has Another Lever to Pull in Showdown With Trump: Factory Lines

Tariffs Are Reshaping China’s Trade. This Tanzanian Sees an Opportunity

Supreme Court Is Told Trump Tariffs Are Illegal $3 Trillion Tax

Trump Hopes Argentina Can Help Bring Down Meat Prices

US Banks Hunting for Collateral to Back $20 Billion Argentina Bailout

There’s a Better Way to Help Argentina

Shutdown With No Clear End Poses New Economic Threat

Stock Rally Fades Ahead of Inflation; Gold Slips

The Natural Rate of Interest Foretells America’s Fiscal Doom

US Bank Rout Prompts Deal Speculation as Credit Worries Loom

$37 Trillion: The Screaming Tell About the Futility of Budgetary Balance

Congress Got Business Taxes Right, and Americans Will Benefit

CEO Vibes Are as Misleading as Consumer Angst

Activist Starboard Takes Big Stake in Construction Firm

CenterPoint Energy to Sell Ohio Gas Distribution Unit for $2.62 Billion

Russia’s Crude Shipments Climb Close to a Post-Invasion High

‘996’ Is a Chinese Tech Trend the US Should Skip

SoftBank-Backed GetYourGuide Says It’s Profitable

How Trump Is Using Fake Imagery to Attack Enemies and Rouse Supporters

OpenAI Hires Ex-Goldman Staff to Help Cut Down Junior Bankers’ Grunt Work

How Oracle’s Dual CEOs Will Co-Lead Its AI Makeover

ChatGPT Should Make Retailers Nervous

Major Vulnerability Exposed in Amazon’s Global Internet Outage

A Theory Why the Internet Is Going Down the Toilet

GM Earnings Tumble on Tariffs, EV Write-Downs

This Expert Led Tesla’s AI Efforts — And Says the Technology Is a Decade Away from Primetime

Spiro Raises $100 Million for E-Motorbike Network in Africa

Let Drug Buyers See the Books of Pharmacy Benefit Managers

UnitedHealth’s ‘Optum Real’ Uses AI to Speed Up Medical Claims

Danaher Sales and Profit Rise on Bioprocessing Momentum

Coca-Cola Continues Bottling-Network Overhaul With $2.6 Billion Africa Stake Sale

It’s Like Uber Eats But for Israeli Arabs Without Home Addresses

NBCUniversal Made a $27 Billion Bet on the NBA. Will It Pay Off?

How Depop Captured the Heart of Gen Z

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Morning News: October 20, 2025
Posted by Eddy Elfenbein on October 20th, 2025 at 7:07 am

India Sees Emissions Peaking in 2045 Under New Climate Plan

Australia Pitches to Be US Fix for China’s Rare Earths Curbs

White House Is Cutting Rare-Earth Research at the Wrong Time

How China Took Over the World’s Rare-Earths Industry

Copper Gains on Easing Trade Tensions, China’s Economic Outlook

Texas Oil Men Catch the Buzz About New Nuclear Technology

Trump Lists Top Demands on China Before Trade Talks Resume

China’s Global Network of Shipping Ports Is Too Big for Trump to Unravel

China Is Already Winning the Trade War America Wanted

China’s Economy Holds Steady, but Consumers Grow More Cautious

Global Economy ‘Yet To Feel The Pain’ From Tariffs, European Central Bank President Says

Trade Wars Have Undermined the Dollar Exchange System

Milei Can No More ‘Dollarize’ Argentina Than He Can Decree Happiness

American Cities Have Issues. Troops Won’t Solve Them.

Will Trump Do It? It Pays to Bet ‘No’

Paul Ryan’s Border Adjustment Tax Is a Dangerous Illusion

US Futures Rise as Investors Turn Gaze to Earnings

One of Wall Street’s ‘Golden’ Geese Is Under Fire. Here’s How Worried You Should Be About Private Credit.

Families Worth $110 Billion Boost Dividends Even as Profits Slow

BNP Slumps After Ruling Raises Risk of Costly Settlement

The Bloomberg New Economy Catalyst List

From Mexico to Ireland, Fury Mounts Over a Global A.I. Frenzy

How Chile Embodies A.I.’s No-Win Politics

Trump’s Duty-Free AI Boom Zips Past the Sluggish Global Economy

Amazon Delivery Firms Are Bailing Amid Rising Costs, Meager Profit

Amazon Disruption Forces Hundreds of Websites Offline for Hours

What Is Amazon Web Services?

Defense Tech Startups Turn Focus to Space Warfare

Lower-Income Americans Are Missing Car Payments

These Jobs Often Go Overseas. One Company Is Bringing Them to Rural America.

Why Are More Retirees Going Back to College?

San Francisco Emerges From the Shadow of a Doom Loop

Activist Jana Pushes Big Contact-Lens Combination of Cooper and Bausch + Lomb

Smucker vs. Trader Joe’s, Lululemon vs. Costco: Fight Over Brands Goes to Court

The Fraudster Behind Steve Ballmer’s NBA Nightmare

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Morning News: October 17, 2025
Posted by Eddy Elfenbein on October 17th, 2025 at 7:02 am

Chile’s $117 Million Snafu Sends Inflation Expectations Lower

IMF Sees ‘Significant’ Risks to Global Growth from US-China Row

Australia Woos Wall Street Firms in China Diversification Play

Bessent Is Reverting to His Hedge Fund Ways With Argentina

Shutdown Leaves Fed in Dark on Data as It Weighs Next Rate Move

Powell Has Backing for 2025 Rate Cuts and Then Things Get Cloudy

Why Is Paul Ryan So Eager To Increase Federal Tax Revenues?

For 3 Years, the Bull Market Defied Inflation, Tariffs and Gravity

Termites Erode Dollar’s Foundation But Alternatives Are Lacking

Global Bank Stocks Slide as US Credit Risks Spark Reality Check

Fifth Third Profit Jumps on Fee Income, Records $178 Million Loss from Tricolor Bankruptcy

BBVA’s Relentless Pursuit of Sabadell Ends in Stunning Defeat

The Fair Housing Act Has Shrunken Affordable Housing

The Era of the Illiquid Millionaire Is Here

Portugal’s Golden Visas Boost Classic Cars, Almonds and Equities

Meet Polymarket’s $400 Million Man

Delaware Will Keep the Corporations Because It Must

Apple, Caught Between U.S. and China, Pledges Investment in Both

Shipping’s Carbon Tax Hangs in Balance Amid US Opposition

The Auto Industry Is Panicking About Another Potential Chip Shortage

AI Chipmaker Cambricon’s Sales Soar 14-Fold With Nvidia Shut Out

Is Rick Perry’s AI Energy IPO a Bubble or a Warning? Yes

Silicon Valley Is Investing in the Wrong A.I.

Delta and United Are Leaving Other Airlines Behind

Trump Refiles His $15 Billion Defamation Lawsuit Against The New York Times

Smartmatic Added to Bribery Indictment of the Company’s Executives

Invite to an Anti-DEI Activist Prompts HR Pros to Pull Out of Industry Event

Walmart, Once a Byword for Low Pay, Becomes a Case Study in How to Treat Workers

Novo, Lilly Fall as Trump Touts ‘Much Lower’ Ozempic Price

The $11 Billion Oura Ring Is Finding Its Voice

NBA Commissioner Adam Silver Has a Steve Ballmer Problem on His Hands

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Morning News: October 16, 2025
Posted by Eddy Elfenbein on October 16th, 2025 at 7:06 am

Lower U.S. Tariffs Would Boost India Growth Outlook, Says Central Bank Chief

US-China Trade War Boils Over and Gets Personal

The Small Company in Europe Caught in the Big Trade War Between the U.S. and China

China Has Overtaken America

China’s Rare Earth Restrictions Aim to Beat U.S. at Its Own Game

Xi’s Rare Earth Shock Gives Trump a Chance to Win Over US Allies

Obscure Commodity Trader’s Breakneck Rise Rattles a Global Market

What Happens When Oil and Gas Wells Die? West Virginia Has a New Plan for That

Dan Sundheim’s D1 Seeks $1 Billion for New Private Equity Fund

Mapping the Scale of Beleaguered First Brands’ Debts and Its Creditors

BNY Quarterly Profit Boosted by Higher Interest, Fees

Bank of America, BNY Sued Over Alleged Financial Ties to Jeffrey Epstein

A Glaring Broadband Mistake In the Annual Defense Budget

Judge Blocks Federal Firings During Shutdown For Now

The Penny’s Demise Is Leaving Some Businesses Shortchanged

Prologis Raises Outlook as Warehouse Leasing Picks Up

TSMC Raises Outlook in Vote of Confidence for AI ‘Megatrend’

AI Data Centers, Desperate for Electricity, Are Building Their Own Power Plants

OpenAI’s Pivot to Porn Is Problematic — But Lucrative

AstraZeneca Gets Rare Sell as Deutsche Bank Has Pipeline Worries

Instagram on TV Is an Idea That Would Require a Fundamental Change

Prospects Dim for Denmark’s Renewable Energy Star

Electric Vehicles Make Up 11 Percent of US Car Sales

Families of Jeju Air Crash Victims Sue Boeing

Feds Find No Evidence of Tariff Cheating Among Appliance Makers

IKEA’s Low-Price Mantra Is Tested by Trump’s Tariffs

IKEA Turns to Small-Town Shoppers to Power Its Next Growth Phase

World’s Largest Food Company Is Cutting 16,000 Jobs Due Partly to Automation

Smucker’s Sues Trader Joe’s Over ‘Copycat’ Uncrustables

Is Private Equity Ready to Burn $50 Million on Failing Coaches?

Nike Should Just Do It and Sell Converse

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Morning News: October 15, 2025
Posted by Eddy Elfenbein on October 15th, 2025 at 7:05 am

Trump’s Trade War Unites Lula and Modi in a Hunt for New Markets

Trump Threatens Retaliation for China’s Soy Boycott

Why the ‘TACO’ Trade Is Again Tempting Investors Amid US-China Brinkmanship

Ports Push Back on Trump’s Tariffs on Cargo Equipment

Trump’s Shutdown Power Grab Goes Unchecked by GOP Lawmakers

Waiting for Deregulation Is Like ‘Waiting for Godot’

Data Darkness in US Spreads a Global Shadow

Falling Inflation Predicts Rising Government Spending and Debt

Poland’s Bond Demand Jumps at Start of Bumper Quarter for Sales

The Great Debasement Trade Is Mostly Just Hype

AI’s Effect on the US Economy Is Exaggerated

Powell Signals Fed Is on Track to Keep Cutting Rates

Morgan Stanley Stock Traders Trounce Goldman in Record Quarter

Blue Owl Chief Points to Bank Loans for Dimon Cockroach Warning

Oaktree Made Money on First Brands With Early Exit, Marks Says

ABN Amro Warns Mortgage, Wealth Management Margins Under Pressure

Japan’s Rakuten Weighing US IPO of Credit Card Business

BlackRock’s GIP Buys Aligned Data Centers in $40 Billion Bet

Microsoft Cuts Fourth Nscale Deal With Texas AI Data Center

The Frothiest AI Bubble Is in Energy Stocks

EU Military Plan Pitches Drone and Air Defense Projects for 2026

The US Is Racing to Rebuild Its Submarine Power Before China Catches Up

The Rest of the World Is Following America’s Retreat on EVs

Stellantis Unveils $13 Billion U.S. Investment Plan

Abbott Cuts Top End of 2025 Guidance as Tariff Threat Looms

Two Positive Trends in Household Wealth

This Company Is Handing Workers $72,000 Baby Bonuses

Grocery Prices Keep Rising. Frustrated Consumers Are Trying to Adapt.

Soon You’ll Be Able to Shop Walmart in ChatGPT. Here’s Why It Matters.

Most U.S. Consumers Expect Higher Holiday Prices and a Weaker Economy

Netflix Jumps Into Podcasts With Spotify Deal

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CWS Market Review – October 14, 2025
Posted by Eddy Elfenbein on October 14th, 2025 at 6:05 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.”)

In recent issues, I’ve talked about how placid the stock market has been. The S&P 500 just ran off 34 days in a row without a 1% change. That’s the longest such streak in nearly 50 years.

Well, that all came to a crashing end on Friday when the stock market fell 2.7% on news of the Trump administration’s tariff threats.

Interestingly, Friday’s stock drop had a huge divide between—exactly what we’ve been talking about—High Beta and Low Vol stocks. On Friday, the High Beta sector fell about 5% while the Low Vol sector was largely flat. That’s a huge gap.

I knew there was going to be a rotation, but I had no idea when. I’m not ready to proclaim this as the start of a Low Vol rally, but it shows these exact tensions within the market. The High Beta stocks performed well as long as the market did well, and the market did well as long as the economic news was positive.

Investors need to understand how much of the rally has been placed on the shoulders of just a few stocks.

Q3 Earnings Begins

Today was also the first big day of Q3 earnings season. The big banks went first and it looks like Q3 was a good one for Wall Street.

Goldman Sachs (GS) said it made $12.25 per share which beat estimates for $11 per share. That’s an increase of 37% over last year. Revenues climbed 20% to $15.18 billion. That beat estimates for $14.1 billion. Goldman’s investment banking fees increased 42% to $2.66 billion.

One weak spot was Goldman’s equity trading division. Sales rose 7% to $3.74 billion, which was $160 million below the estimate. Revenue at Goldman’s fixed income division rose 17% to $3.47 billion. That topped estimates by $289 million.

Goldman’s stock has done well this year, but the stock fell a little bit in today’s trading.

JPMorgan Chase (JPM) said its Q3 profit rose 12% to $14.39 billion, or $5.07 per share. That beat estimates of $4.84 per share. JPM’s revenues increased 9% to $47.12 billion compared with expectations of $45.4 billion.

I was impressed by JPM’s trading segments. For Q3, JPMorgan’s trading division had revenues of $8.9 billion. Fixed-income trading grew 21% to $5.6 billion. That’s about $300 million more than expected. Equity trading rose 33% to $3.3 billion. That also beat estimates.

JPM’s provision for credit losses rose 9% to $3.4 billion. The estimate was for $3.08 billion. This suggests the banks are getting ready for more defaults.

It appears that the tariff uncertainty has benefited Wall Street. CEO Jamie Dimon said, “While there have been some signs of a softening, particularly in job growth, the U.S. economy generally remained resilient.”

Citigroup (C) has had a very good year and today we saw why. Citi said it made $2.24 per share which beat estimates of $1.90 per share. That’s up 15% over last year. Revenue rose 9% to $22.09 billion which was $1 billion more than expected.

The bank continues to do well. For Q3, Citi’s banking revenues rose 34%. The bank’s services division had revenue growth of 7%. Also, Citi’s market segment posted a revenue increase of 15%.

Shares of BlackRock (BLK) rose to a new all-time high today. The company is the largest money manager in the world. It now has assets under management of $13.46 trillion. That’s up 17% in the last year.

For the quarter, BLK made $11.55 per share which beat Wall Street’s forecast. The shares rallied to a new all-time high.

Shares of Wells Fargo (WFC) rallied more than 7% after the bank reported solid earnings for its Q3. The Federal Reserve lifted WFC’s asset cap of $1.95 trillion. Since 2019, Wells has closed 13 consent orders. It still has one more to go.

CEO Charlie Scharf said, “We are now on a path to grow more broadly with the lifting of the asset cap. “The bank raised its ROE target from 15% to 17% to 18%. WFC’s Q3 profit rose to $5.59 billion, or $1.66 per share. The consensus on Wall Street was for earnings of $1.55 per share.

Wells’s provision for credit losses dropped to $681 million from $1.07 billion last year. WFC’s investment banking fees jumped 25% to a record of $840 million.

Bank of America (BAC) and Morgan Stanley (MS) will report earnings tomorrow.

We’ll also get our first Buy List stock to report earnings tomorrow. Abbott Labs (ABT) is due to report its Q3 earnings before the market opens. I’m curious to hear what Abbott has to say because this is a good company, but the stock has lagged the market for more than five years.

I was happy to see ABT get a boost last summer, but that eventually petered out by the spring. I suspect that a lot of ABT’s lagging is due to it being a healthcare stock. When your sector is out of favor on Wall Street, it’s hard to do well. Abbott has been outperforming healthcare recently.

For Q3, ABT said it expects earnings between $1.28 and $1.32 per share. The consensus on Wall Street is for earnings of $1.30 per share, the exact midpoint. I think Abbott will beat that.

For Q2, Abbott made $1.26 per share, which beat Wall Street’s consensus by one penny per share. Management had told us to expect earnings between $1.23 and $1.27 per share.

Abbott’s Q2 sales were up 7.4% to $11.14 billion, which beat estimates of $11.07 billion. If we only look at organic sales, Q2 sales were up by 6.9%, and if we exclude Covid-related items, sales were up 7.5%.

Abbott sees full-year profits ranging between $5.10 and $5.20 per share. That’s down from the company’s previous guidance of $5.15 to $5.25 per share.

Last year, Abbott made $4.67 per share. That means that at the midpoint of this year’s guidance, Abbott expects double-digit earnings growth.

60 Minutes and 1929

This past weekend, 60 Minutes did a story on the stock market and its resemblance to 1929. These stories annoy me, and I think they’re a disservice to investors.

The 60 Minutes story seems to be a backdoor marketing video for Andrew Ross Sorkin’s new book, 1929.

The gist of the piece is that we’re in a stock market bubble and it’s very similar to the events of—you guessed it—1929.

I hate that this even needs to be said, but the current market isn’t anything like the market of 1929. Just as a reminder, the stock market fell 89% from top to bottom. That’s what we’re talking about when we compared us to 1929.

Many more Americans are invested in the stock market than was the case 100 years ago. There’s no gold standard today. No fixed commissions. There’s a global economy. We have deposit insurance. During the Great Depression, the unemployment rate reached 25%. Today it’s just over 4%.

Bear markets happen. We even had a brief one earlier this year. That’s part of investing. That’s quite a different thing from 1929.

What I find especially annoying is that these stories give the appearance of saying something when they’re not really saying anything. The commentators are careful not to predict anything. No one goes on record. Instead, they say they’re “concerned” about something ominous, but they’re lacking in details.

Here’s a snippet from the broadcast:

Andrew Ross Sorkin: The crazy part about this is from 1928 to September 1929, the stock market was up 90%.

Lesley Stahl: When you say the stock market was way up, immediately I think of now. Are you scared? (We’re not up 90%. Six months ago, the market lost 12% in four days. – Eddy)

ARS: I’m anxious. I’m anxious that we are at prices that may not feel sustainable and what I don’t know is we are either living through some kind of remarkable boom and part of that artificial intelligence and technology and all of that or everything is overpriced. (Then prices come down. It’s not a big deal. – Eddy)

LS: Or we’re reliving…

ARS: …1929.

Oh, brother. Nice leading question there. I agree that things are pricey and I’ve said so, but how exactly are we reliving 1929? Notice how Sorkin says he’s anxious. So what? All investors should be anxious to some extent.

Later Stahl Lesley tells us, “People who didn’t really have much money were lured by Wall Street bankers to invest using a newfangled concept to take on debt called credit.”

I hate to break it to you, Lesley, but credit has been around for a long, long time, and so has margin buying.

The story then takes an expected turn into crypto and lets us know that some meme coins coin may not be 100% above board.

“LS: Do you think that we will have a crash, or not?

ARS: The answer is, we will have a crash. I just can’t tell you when and I can’t tell you how deep. But I can assure you – unfortunately, I wish I wasn’t saying this – we will have a crash.”

Let’s see if I have this right. I assure you that something will happen at some time, but I can’t say what, when or how bad it will be. This tells you nothing about being an investor.

That’s all for now. The retail sales report is due out on Thursday, but it looks like we won’t get it thanks to the shutdown. The inflation report is out next Friday, the 24th, and that also looks to be in jeopardy. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: October 14, 2025
Posted by Eddy Elfenbein on October 14th, 2025 at 7:05 am

Trump Bets on Argentina Again After First-Term Bailout Blew Up

How China and the U.S. Are Racing to De-Escalate the Trade War

China Escalates US Trade Fight With Curbs on Shipping

From Ships to Spreads, There Are Growing Signs the Oil Surplus Has Arrived

U.S. Starts Charging Chinese Ships to Dock at Its Ports

Highest US Tariffs Since the 1930s Redraw the International Trade Map

Trump Ramps Up Trade War as Tariffs on Lumber and Furniture Kick In

The Great Debasement Debate Is Rippling Across Global Markets

America Must Avoid a European Regulatory Fate

Trump’s ‘Flood the Zone’ Strategy Also Involves a Lot of Mopping Up

Major Media Outlets Rebuff New Pentagon Press Policy

US Shutdown Threatens to Erode Quality of Important Inflation Data

Why Silver Has Been Surging Even More Than Gold

JPMorgan Traders, Bankers Beat Estimates as Dealmaking Picks Up

Goldman Dealmakers Drive Bank to Record Third Quarter Revenue

Wells Fargo Boosts Key Profitability Metric as Asset Cap Removed

Citi Revenue Beats in Every Division as Compensation Costs Climb

The Banker Behind the Trumps’ Quick Wall Street Wins

JPMorgan Says US Needs Renewables to Meet Rising Energy Demand

Renewable Energy Is Booming Despite Trump’s Efforts to Slow It

US Lumber Giants Agree to Combine in $7.1 Billion Deal

Cobalt Rally Risks Pushing Away Battery Makers, Top Miner Says

GM Takes $1.6 Billion Charge on Trump-Induced Pullback From EVs

Ford Cuts Production of Five Trucks, SUVs After Fire at Aluminum Supplier

Boeing, Airbus Deliveries Face ‘Unprecedented’ Delay, Buyers Say

The AI Future You Want Depends on These Questions

China’s AI Dragons Must Survive ‘Involution’ to Conquer the World

The Solution to Europe’s AI Problem Is Hiding in Plain Sight

AI’s Copyright War Could Be Its Undoing. Only the US Can End It.

NaturalCycles Mulls New Round Bigger Than Prior $55 Million

Inside Advertising’s Most Grueling New Genre: ‘You Have to Have Zero Social Anxiety’

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Morning News: October 13, 2025
Posted by Eddy Elfenbein on October 13th, 2025 at 7:05 am

Creative Destruction Theorists Win Nobel Prize for Economics

Trump and Xi Trigger Another Standoff With World Economy at Risk

Trump’s Fresh Tariff Assault Threatens China’s Fragile Economy

Cars to Fighter Jets: China’s New Export Curbs May Level a Heavy Blow Worldwide

Argentina’s Economy Chief Says US Willing to Keep Buying Pesos

America Is Getting Used to Broken Government

Furloughed Federal Workers Turn to Side Hustles to Survive Shutdown

Troops May Miss First Paychecks Wednesday as Shutdown Drags On

Stronger Growth, Weaker Hiring: Forecasters See a Split-Screen Economy

A Zombie Economy Could Be America’s Future

From Tricolor to Saks, Bonds Are Now Crashing at Breakneck Speed

Silver Roars Higher as Short Squeeze Rocks the London Market

This Market Is Nothing Like the Dot-Com Bubble

The Rules of Investing Are Being Loosened. Could It Lead to the Next 1929?

Brookfield Said Near $3 Billion Deal for Remaining Oaktree Stake

Labor Unions Are Chipping Away at Worker Freedoms One Bill at a Time

The EU Has To Get Real If Europe Is To Matter In AI

Squeezing Builders Isn’t the Way to Lower Housing Costs

The Former Banker Betting on Unprofitable Business of Flood Insurance

US Power-Demand Boom Poses Hard Choices for Utilities

Technip Energies CEO Says US LNG Projects Can Skirt Chinese Yards

Citadel Boosts European Power Trading With Purchase of FlexPower

GM’s Rare-Earth Gamble Pays Off as China Tightens Magnet Exports

He Won the $2 Billion Powerball. Now He’s Buying Up Lots Burned in the L.A. Fires.

JPMorgan to Invest $10 Billion in U.S. Companies Critical to National Security

Factory Towns Revive as Defense Tech Makers Arrive

Behind the Collapse of an Auto-Parts Giant: $2 Billion Hole and Mysterious CEO

Trump Turns His Sights on Aluminum in Vaccines

A Case for Vaping Freedom As the Path to Economic Revival

Paramount Circling Warner Bros. Discovery After Rebuffed Approach

What’s the Deal With All Those FanDuel Ads?

Inside the World’s Most Powerful High School Cafeteria

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Morning News: October 10, 2025
Posted by Eddy Elfenbein on October 10th, 2025 at 7:03 am

Why China Built 162 Square Miles of Solar Panels on the World’s Highest Plateau

Germany’s Top Economist Charts a Path Out of Europe’s Crisis

Bessent’s Big Gamble on Argentina Has a Narrow Road to Pay Off

Big Investors Await Windfall From Trump’s Argentina Bailout

After $12 Billion Bond Losses, Japanese Bank at Risk Again From US Firm’s Bankruptcy

The Big Dollar Short Is Becoming a Pain Trade for Investors

Did Wall Street Just Admit It’s a Casino After All?

What’s the Difference Between the NYSE and Polymarket Anyway?

Ray Dalio Warns of Soaring Debt and ‘Civil War’ Brewing in US

Gold Boom Swells Indian Household Stock to Almost $3.8 Trillion

Riding the Wild Wave of Crypto Coverage

Crypto Investor Known as ‘Bitcoin Jesus’ Reaches Deal With Prosecutors

Inside Hegseth’s Effort to Limit Press Access at the Pentagon

Tariffs Are Way Up. Interest on Debt Tops $1 Trillion. And DOGE Didn’t Do Much.

Shutdown Pain Ripples Through US Economy With No Deal in Sight

Federal Government Recalls Workers to Produce Key Inflation Report

Sorry Keynesians, Housing Has Nothing To Do With Economic Growth

Americans Are Falling Behind on Their Car Payments

Have You Hugged Your Job Today?

Jack Dorsey’s Block Targets Card Network Fees in Latest Push

America’s Manufacturing Resurgence Will Be Powered by These Robots

China Targets Qualcomm, US Ships as Xi and Trump Seek Leverage

Intel Got a Trump Bump. Now It Has to Capitalize on It.

Tesla Self-Driving Technology Breaks Traffic Laws. Can the Feds Stop It?

Tesla’s China Shipments Rise at Start of Busy Sales Season

Tricolor’s Busted Money Machine Has Wall Street Rethinking Risks

Can These Self-Flying Planes Transform the Skies?

Delta Predicts Premium Seat Sales to Overtake Economy as Soon as 2026

Pfizer’s Deal on Drug Prices Gets Closer to the Right Idea

Lay’s Chips Are Getting a Makeover for the MAHA Era

If an Energy Drink Drank an Energy Drink, You’d Get a Celsius

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Morning News: October 9, 2025
Posted by Eddy Elfenbein on October 9th, 2025 at 7:06 am

Troubled Wind Developer Orsted to Cut 25% of Staff

How Trump’s Green Hydrogen Cuts Are Opening the Door for China

China Clamps Down Even Harder on Rare Earths

G20’s Cross-Border Payments Push Set to Miss 2027 Target

German Exports Unexpectedly Fell in August as Uncertainty Weighed

Gold’s Record Rally Is Helping China Challenge Trump and the Dollar

Rising Call-Option Demand Signals EM Local-Currency Bond Gains

JPMorgan CEO Dimon Warns of US Stock Market Correction Risk

Mixed Economic Signals Stoke Divisions at Fed, Minutes Show

A Top Fed Official Favors More Interest Rate Cuts

The CFPB Is a Failed Experiment In One-Sided Anti-Business Policy

US Banks to Reap Bigger Profits as Deals Rebound in Third Quarter

This Isn’t the Asset Boom Voters Wanted

Dudley: AI Can Transform the Economy and Still Be a Bubble

‘I Believe It’s a Bubble’: What Some Smart People Are Saying About AI

Reflection AI, an A.I. Model Start-Up, Raises $2 Billion

The Soaring Cost of America’s Failed Export Strategy

Robinhood Founders Join World’s Richest in Risky Trading Revival

First Brands’ Go-To Bank Jefferies Opens Books as Fallout Builds

Air Travel Disruptions Add Pressure on Congress for Shutdown Deal

$100,000 H-1B Visa Fees Are a Distraction From Real Reform

America Is Minting Lots of Cash-Strapped Millionaires

Can Ferrari Persuade the Superrich to Buy an EV Sports Car That Won’t Rev?

GM Backs Off Controversial EV Tax Credit Move

Who’s Going to ‘Eat’ Tariffs? Not US Shoppers

End the Realtor Tax To Ease America’s Housing Problems

Close Brothers Warns of Higher Provision for Motor Finance Costs

An Irish Factory Town Prospered With China. Now, Its ‘Jewel in the Crown’ Is Leaving.

PepsiCo Sees Signs of US Beverage Turnaround Driven by Soda

Shoemakers Target a New Market: Rest Days

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