First Brands Bankruptcy Stokes Fears Over Private Debt

 

Wall Street is on edge after auto parts maker First Brands filed for bankruptcy on 29 September, revealing liabilities of $10bn-$50bn against $1bn-$10bn in assets and heavy reliance on opaque off-balance-sheet invoice financing. Arranger Raistone says up to $2.3bn has "vanished," while Jefferies reports $715m in exposure and an inquiry...

Trade war leaves Minnesota soybeans in limbo

 

At the Purfeerst farm in southern Minnesota, 100,000 bushels of soybeans—worth about $10 apiece—sit in bins with no clear buyer. A US–China trade war has halted Chinese purchases, which last year topped $12bn and represented about half of US exports. Donald Trump has floated payments to offset tariffs, but the...

Trump Tariff Threat Sends U.S.-Listed China Stocks Lower

 

Chinese stocks listed in the U.S. slumped Friday after former President Donald Trump threatened sharp tariff hikes on Chinese imports, calling China “very hostile.” Alibaba and Baidu dropped about 8%, JD.com 6.6%, PDD Holdings 5.2%, and the iShares MSCI China ETF fell 5.2%. The selloff followed renewed tension over trade,...

China Imposes Tit-for-Tat Port Fees on U.S. Ships

 

China announced tit-for-tat port fees on U.S.-linked vessels, charging 400 yuan per net ton per voyage from Oct. 14, rising annually to 1,120 yuan by 2028, capped at five calls per ship each year. The measure mirrors Washington’s planned charges on Chinese ships and targets U.S.-owned, operated, flagged, or U.S.-built...

Howard Stern Negotiates SiriusXM Contract, Hints Ownership

 

Howard Stern says he’s in talks with SiriusXM about extending his deal and hinted he may seek “ownership” if he stays. In an interview with Andy Cohen, he praised the company he helped grow but declined to detail negotiations over his show archive, which SiriusXM considers important. Rumors have questioned...

Trump Threatens Tariffs, Meeting Amid Rare Earths Dispute

 

President Donald Trump threatened a “massive” increase in tariffs on Chinese imports to counter China’s new rare‑earth export controls, and threatened to cancel an upcoming meeting with Xi Jinping. In a Truth Social post, he said China should not hold the world “captive,” and stocks fell after his remarks. China,...

UK Regulator May Force Google Changes

 

Google may be required to make changes in the UK to give users more search engine options, following a decision by the Competition and Markets Authority (CMA). The CMA has given Google 'strategic market status', which could lead to 'proportionate, targeted interventions' to ensure market competitiveness. Google has warned against...

AI Bubble Fears Grow Amid Red Flags

 

The current AI landscape shows significant red flags suggesting a potential bubble, with soaring valuations far outstripping earnings and a concentration of gains in a few major tech firms. Despite widespread exuberance and weak returns from many AI experiments, the technology's real-world utility and the potential for gradual corrections temper...

Liberty Vote Acquires Dominion Amid Election Controversy

 

Dominion Voting Systems, the company falsely accused of election fraud in 2020, has been acquired by Liberty Vote. The latter now assumes full ownership and operational control, with Dominion's website redirecting to libertyvote.com. The acquisition comes after Dominion faced baseless claims of election rigging, leading to defamation lawsuits, including an...

S&P 500, Nasdaq Pull Back Amid Shutdown

 

The S&P 500 and Nasdaq Composite retreated from all-time highs on Thursday amid the ongoing U.S. government shutdown. The S&P 500 fell 0.28% to close at 6,735.11, while the Nasdaq slid 0.08% to finish at 23,024.63. The Dow Jones Industrial Average also declined, dropping 243.36 points to close at 46,358.42....