Starbucks + Trump,..Wall Street Picks AI Winners and Losers as Credit Swaps Surge,..Microsoft Reports Over $130 Billion in New Data Center Leases,..Fed Holds Rates, Three Officials Dissent Favoring a Hike

 

Watch: Trump Says Iran Will 'Get a Beating' for Targeting Base in Jordan

Trump Says US Will Be Hitting Iran Hard as War Resumes

“We’ll be hitting them hard,” the president told Fox News, adding that “they’re going to get a beating.”

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0.13%

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Trump Says He’d Be ‘Disappointed’ If China Sends Weapons to Iran

Why the Saudis Attacked Iraq Despite Cordial Ties

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Starbucks Results Show Turnaround Bid Is Gaining Momentum

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Chipotle Beats Sales Estimates on Honey Chicken, New Rewards

Carvana Profit Outlook Lags Estimates as Growth Loses Steam

Watch: Meta Gives Lackluster Quarterly Sales Forecast

Meta Gives Lackluster Quarterly Sales Forecast; Shares Drop

The forecast intensified investor concerns about the company’s unprecedented spending on artificial intelligence.

Nasdaq-100 Index

27,192.31USD

570.82–2.06%

Nasdaq 100 Enters Correction, S&P 500 Falls After Fed Decision

Microsoft’s Cloud Accelerates to Fastest Growth Since 2022

Qualcomm Gives Tepid Profit Forecast in Sign of Phone Woes

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Microsoft Capex Will Be Very High Next Year, RBC's Jaluria Says

The Fed

Rates Hold SteadyKey TakeawaysFive New Task Forces

Current Time 0:23

Watch: Fed's Warsh Says There Is No Soft Inflation Target

Fed Holds Rates, Three Officials Dissent Favoring a Hike

Kevin Warsh insisted policymakers’ decision to leave rates unchanged wasn’t a sign of inertia at the central bank, which he reiterated is committed to tackling inflation.

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US 30-Year Yield Soars to Highest Since ‘07 After Fed Stands Pat

Apollo’s Slok Says Fed’s New Silence Fuels ‘Yo-Yo’ Bond Market

Photo illustration: Yoshi Sodeoka for Bloomberg Businessweek; photos: Bloomberg (4); CNN (6); Getty Images (4); NY Post (1)

The Big Take

How a Few Hundred Dollars Could Manipulate Election Prediction Markets

Touted as a truth serum for political forecasting, they’re vulnerable to distortion, sometimes at surprisingly low cost.

Kalshi Rate Trade Misses Quadruple Payoff as Fed Stands Pat

Mamdani Stands by Pied-à-Terre Rollout Despite Backlash

Mayor Zohran Mamdani defended the rollout of a new tax on highly valued second homes in New York City.

NYC Transit System Faces $900 Million Budget Shortfall by 2030

The AI Race

AI Progress Open LetterMoonshot’s Kimi K3AI Trade Winners, Losers

SeongJoon Cho/Bloomberg

Wall Street Picks AI Winners and Losers as Credit Swaps Surge

Analog Devices Discloses Breach After ‘Unauthorized Access’

Creator of Test That OpenAI Models Tried to Cheat Sounds Alarm

Technology

AICybersecurityScreentime

Gabby Jones/Bloomberg

ChatGPT, Roblox to Fall Under Strictest EU Rules for Platforms

Microsoft Reports Over $130 Billion in New Data Center Leases

Meta’s Free Cash Flow Dwindles to Lowest in Nearly Four Years

Newsletter: Power On

Why Apple’s Lawsuit Against OpenAI Over Devices Spares Jony Ive

Newsletter: Tech In Depth

Palantir’s New Rivals Seize the Sovereignty Opening in Europe

Money

How Far Will AI Fear Spread Beyond South Korea?

The Retirement Cost of Adult Kids Moving Back Home

Lessons From History About Today’s AI Bubble

The Father of the 401(k) Has a New Savings Plan

Politics

UKEuropeMiddle EastAsia

Greg Fiume/Getty Images

Commanders Aim to Chase Cowboys for Top NFL Sponsor Revenue

Lockheed Wins $59 Billion Deal to Build Patriot Missiles

Burnham Pitches Jobs Boost From £8.4 Billion Fund for Submarines

Newsletter: Washington Edition

Trump’s Economic Record Fuels Midterms Messaging

Newsletter: Washington Edition

Trump-Thune Divide Goes Beyond Voting Bill

Economics

Inflation & PricesIndicatorsCentral Banks

David Kawai/Bloomberg

Carney Rejects Idea of Using Oil as Weapon Against US Tariffs

Key Takeaways From Fed Decision to Hold Rates Steady

Brazil Job Creation Rebounds Before Central Bank Rate Decision 

Newsletter: Economics Daily

Fed Watchers Gird for a Lesson on Reading Warsh in High-Stakes Rate Call

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Instant Reaction: Kevin Warsh News Conference

Industries

SpaceLegalEnergyHealth

Sam Greenwood/Getty Images

Blackstone’s Link Sells $1 Billion in Real Estate to Stonemont

Mercedes CEO Says Cut-Throat China Competition Is Here to Stay

Snam to Shortlist Bioenerys Bidders by Fall, CEO Says

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The Deal: Andy Campion

Newsletter: Business of Space

SpaceX Customers Are Bracing for the Falcon Rocket Phaseout

Green

New EnergyGreener LivingESG Investing

Oliver Bunic/Bloomberg

Record-Low Danube Disrupts Nuclear Plants, Strands Cruises

A Fix for Insurers has Left Consumers Facing More Climate Risks

Drought Declared for London and Half of England as Risks Mount

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Zero: Prize-Winning Novel on AI Robots, Climate Damage

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An Optimist's Guide to the Planet Trailer

Work & Life

Management & WorkEqualityBusiness of Sports

731; Getty Images (2)

The High-School Dropout Hiring Diplomats for Trump’s State Department

RedBalloon hopes to help the administration find better cultural fits, but critics warn of politicizing the foreign service 

China Bolsters its Influence Over Africa’s Youth, Survey Shows

Real Madrid Hit Record €1.22 Billion Revenue in Last Season

Corporate Giving Shifts Away From Social Causes in US

Cambridge’s King’s College Opens Culture Review After Harassment Allegations

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