China stashed more than three times as much crude oil as the US in 2025, new data shows. The US government report underscores how intensely China worked to bolster its reserves ahead of the Iran war, giving it a crucial buffer in the face of energy supply disruptions during the ...
US reclassifies marijuana as less harmful substanceUS reclassifies marijuana as less harmful substance
The Trump administration reclassified marijuana as a less harmful substance on Thursday, removing barriers to research and generating tax benefits for the legal industry. Cheered by advocates and criticized by some Republicans, the move doesn’t legalize marijuana use nationwide, but removes cannabis from the same federal category as heroin and ...
Trump issues ‘shoot and kill’ order amid Hormuz standoffTrump issues ‘shoot and kill’ order amid Hormuz standoff
US President Donald Trump ordered the Navy to “shoot and kill” Iranian boats placing mines in the Strait of Hormuz, escalating the bitter stalemate over the key waterway. The directive came after Iran seized two container ships; both sides are looking to control the strait through their own blockades, creating ...
Some experts dismiss ‘apocalyptic talk’ of Hormuz disruptionsSome experts dismiss ‘apocalyptic talk’ of Hormuz disruptions
Some experts argued the Strait of Hormuz closure may not lead to an all-out economic catastrophe, as the prevailing narrative suggests. The Brookings Institution’s Robin Brooks wrote that global manufacturing data from March shows that the Iran war “isn’t nearly [as] disruptive as some would like it to be,” and ...
Community Votes to Deny Water to Nuclear Weapons Data CenterCommunity Votes to Deny Water to Nuclear Weapons Data Center
Ypsilanti Township in Michigan is attempting to cut off the flow of water to a planned data center that would power a new generation of nuclear weapons research. On Wednesday, the Township’s Board of Trustees voted to institute a 365 day moratorium on the delivery of water to hyperscale data ...
Lululemon plucks Nike cast-off for CEOLululemon plucks Nike cast-off for CEO
Lululemon’s shares dropped 11% Thursday after the athleisure brand picked Heidi O’Neill as its new CEO, an indication the market knows what everyone in the retail business already did. O’Neill was passed over in 2024 to run Nike (Elliott Hill came out of retirement for the gig) after a quarter ...
M&A has become unrecognizableM&A has become unrecognizable
Liz’s view When we broke the story of Microsoft’s $10 billion investment in OpenAI in January 2023, I said two things that now seem pretty stupid. First, I asked my colleague Reed Albergotti what OpenAI was. Second, I confidently said on CNBC that people should think of the deal more ...
Iran war hits US economic confidence: GallupIran war hits US economic confidence: Gallup
Americans have grown more pessimistic about the US economy in the weeks since the US-Israel war with Iran began, underscoring a key challenge for the White House as it looks to blunt the impact of rising gas prices and other goods. Gallup’s Economic Confidence Index dropped 11 points since March, ...
Florida redistricting push divides RepublicansFlorida redistricting push divides Republicans
Florida might redraw its congressional maps to add red seats after Virginia voters cleared the way this week for a Democratic gerrymander. But some in the state’s Republican delegation are warning they won’t be able to squeeze that many more seats out. Rep. Kat Cammack, R-Fla., said they could add ...
Higher oil prices bolster earnings in Saudi Arabia, OmanHigher oil prices bolster earnings in Saudi Arabia, Oman
Oman and Saudi Arabia can expect a windfall from higher oil prices due to the Iran war, according to Goldman Sachs. Oil revenues for the two countries have risen as crude prices have surged due to the effective closure of the Strait of Hormuz; with all its ports outside the ...