The Global Economic News

Billionaire David Einhorn Says SpaceX Is Making History, but Not in a Good Way Adam Levy, The Motley Fool Mon, September 14, 2026 at 2:45 AM PDT 4 min read SPCX NVDA In David Einhorn's most recent letter to shareholders of his hedge fund, Greenlight Capital, he specifically called out Space Exploration Technologies (NASDAQ: SPCX), which went public last quarter. The initial public offering (IPO) was historic for its size, and Einhorn notes that SpaceX is still making history, citing key analyst reports that have a massive impact on financial markets. But that history isn't necessarily a good thing for SpaceX investors, and it could have broader implications for the market in general. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue SpaceX ...

OpenAI chief Sam Altman has made his most detailed comments yet on how AI safety frameworks could work, after he joined Anthropic's Dario Amodei and Elon Musk in warning the industry needs to slow down. "We welcome a federal framework that sets consistent safety requirements for frontier AI," Altman said in a post on X just after midnight on Monday, adding that "no amount of American competitive pressure should justify recklessness." Altman warned of two ways AI progress could go "very badly", including losing "control of the future to AI" and too much power concentrating around a single person or company. His X post follows Amodei's essay on Saturday that urged AI companies to slow how quickly they improve their most advanced models. AI stocks were down on Monday as investors digested the comments. U.S. President Donald Trump said on Sunday a slowdown was not needed and would jeopardize America's lead in AI over China. Safety concer...

Image source, Getty Images By Kevin Peachey Cost of living correspondent Published 8 hours ago Laptops, phones and bikes are top of the shopping list for thieves as students head off to university, according to insurer Aviva. They are the items most likely to be on student insurance claims - after being stolen from digs, cars, public transport and bars and restaurants. But there are ways you can help keep them safe, and things to consider if you are planning to get insurance cover. Get it wrong and it can be expensive, or possibly illegal. How to keep your stuff safe The majority of student insurance claims are the result of theft, ahead of accidental damage, according to Aviva. The insurer declined to say what proportion of claims resulted in payouts. "Laptops, computers and mobile phones play a vital role in student life, but they can also be attractive targets for opportunistic thieves due to their value and portability," said Steven Jackson, its home product manager. His...

Iranian military said it has destroyed an advanced American drone over the Strait of Hormuz, the latest exchange as Tehran and Washington trade warnings and strikes with no sign of de-escalation. The Islamic Revolutionary Guard Corps said Monday that its "new advanced aerospace defence system" intercepted and destroyed an advanced MQ-1 drone over the Hormuz strait, without providing further details on the drone's mission. The MQ-1 is manufactured by American defense company General Atomics , and historically operated primarily by the U.S. Air Force and the CIA. The incident followed a series of Iranian operations against U.S. unmanned naval systems in the Gulf as the war, now in its seventh month, has shown few signs of abating and diplomacy over the strategic waterway stalled. On Sunday, President Donald Trump said the U.S. could continue its campaign against Iran and take control of its oil, likening the scenario to the deal Washington struck with Venezuela earlier thi...

Shares of fast-fashion company Shein fell as much as 10% in Hong Kong, amid news that one of its contact lens products has been recalled by Australia and New Zealand. "A sample of these contact lenses tested positive for Burkholderia cepacia complex, a bacterial contaminant detected in the solution in which the lenses were packaged," according to a statement by New Zealand's Ministry of Business Innovation & Employment on Friday. "Exposure to this bacterium may pose a risk of eye infection or irritation and an incident was reported in the United Kingdom involving a user who developed an eye infection," it added. The Australian Competition and Consumer Commission issued a similar recall. Shein The news come following the fast fashion retailer's shaky debut in Hong Kong earlier this month. While Shein rose to prominence with low-price clothing and new designs brought to the market quickly, its low-cost model in Europe and the U.S. has been challenged by t...

Los Angeles Clippers owner Steve Ballmer has apologized almost two weeks after a broad array of sanctions was slapped on the team by the National Basketball Association. In a statement posted on X , Ballmer called this a "difficult time" and apologized to the team's fans, employees, and "my fellow NBA team owners for the distraction and distress this matter has caused." Earlier this month , the Clippers were hit with sanctions for violating the league's salary cap circumvention rules related to star player Kawhi Leonard and four companies that did business with the team. The team will also forfeit five first-round draft picks, with one each year beginning in 2029, as well as pay a fine of $30 million, the largest in NBA history. Ballmer said that the team is complying with the penalties, has paid the fines and is "moving forward." He added, however, that "while there are still disagreements concerning the findings in the report, this is not w...

Ciena’s (CIEN) Backlog Just Hit $8.5B and Keeps Climbing Maham Fatima Sat, September 12, 2026 at 9:46 AM PDT 4 min read CIEN On September 3, Ciena Corporation (NYSE: CIEN ) reported third-quarter fiscal 2026 results that turned heads across the networking industry. Revenue climbed 37% year over year to $1.67 billion, adjusted earnings per share more than tripled to $2.11, and the company's order backlog swelled to $8.5 billion. Behind those numbers sits a company management says is still in the early innings of a multiyear buildout tied to artificial intelligence, one big enough that Ciena now expects its addressable market to roughly double by 2029. Ciena's (CIEN) Backlog Just Hit $8.5B and Keeps Climbing Orders Are Outrunning Ciena's Factories Ciena's backlog grew by $800 million in the quarter alone, and management said bookings in just the first month of the fourth quarter came close to matching all of the third quarter's orders. That pace has the company proje...

Image source, Getty Images By Mitchell Labiak Business reporter Published 5 hours ago The UK needs a "culture shift" in how it does business, Andy Burnham has said ahead of a meeting with some of the UK's biggest bosses. The prime minister said those who take risks in business should be backed by government and local leaders should have the power to work with businesses. The current Labour government has been criticised for increasing costs for businesses, such as with the employer national insurance and minimum wage changes under Burnham's predecessor Sir Keir Starmer. Downing Street said Burnham will meet with the chief executives of BP, Shell, HSBC, Morrisons, Sainsbury's, BT, Vodafone, Rolls-Royce, and several others at Number 10. Ahead of the meeting, Burnham said he would give people "the confidence that if they have a great idea, they'll get all the support they need to bring it to life". "When local leaders have the tools to get things ...

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Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . I bond vs. high-yield savings account: Which is better for beating inflation? Earning a high interest rate on your savings helps preserve your purchasing power. Ivana Pino Senior Writer K Kat Tretina Sun, September 13, 2026 at 4:25 PM PDT 7 min read With inflation ticking up, leaving your money in a basic savings account can cost you money: The average interest rate on a savings account is just 0.38%. That means the interest you earn on your savings account may not keep pace with inflation. To maximize your return, stashing your money in a Series I savings bond (more commonly known as an I bond) or a high-yield savings account (HYSA) can be a smart alternative. Both of these products offer higher returns than traditional savings accounts , but there are some key differences to be aware of before deciding where to put you...

Is Chewy’s (CHWY) Margin Story Losing Steam, or Is a 48% Drop the Opportunity? Venkatesh Srinivasalu Sun, September 13, 2026 at 12:57 PM PDT 3 min read CHWY Chewy, Inc. (NYSE: CHWY ) reported second-quarter results on September 9, 2026. The results highlighted a 7.3% increase in net sales to $3.33 billion, adjusted EPS of $0.36, and a raised full-year outlook. However, following the results, Evercore ISI downgraded Chewy to In Line while RBC and TD Cowen cut price targets. The stock, already down about 48% from its 52-week high and near its low, fell roughly 10% intraday before bouncing. This raises multiple questions: is Chewy's slowdown cyclical or structural, and does this drop make the 35x stock a clear buy? (READY TO REVIEW) Is Chewy's (CHWY) Margin Story Losing Steam, or Is a 48% Drop the Opportunity? The Bull Case Is Real, but Thinner Than It Looks Chewy's Autoship subscriptions give the company recurring revenue that most retailers cannot copy. Active customers ros...

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Image source, Getty Images Image caption, A branch of the supermarket Iceland is opening on the Falkland Islands in December By James McCarthy BBC Wales Published 12 September 2026 Supermarket Iceland is opening its first branch in the Falkland Islands, according to boss Lord Richard Walker. He said the store would be opening in December, adding on LinkedIn it would be the the first UK high street brand to open there. The shop will be in the capital Stanley where it will serve a population of about 3,500. Lord Walker said the Welsh business, based in Deeside, in Flintshire, was growing internationally and he wanted to expand it further. "We actually wholesale or franchise to over 75 different countries," he said. "And we've had our eye on the Falkland Islands for quite a long time. We think it's a very underserved market, with a lack of competition, and, of course, being that our product is predominantly frozen, it transports and exports very well." The sai...

Musk sent governments a message about the robot economy Tobi Opeyemi Amure Sat, September 12, 2026 at 10:47 AM PDT 6 min read Big claims about machines and work always arrive with a number attached, because the number is what does the persuading. Nobody remembers the argument. Everybody remembers the figure. That is why automation forecasts land differently than interest rate forecasts. A rate call you can check in six weeks. A claim about the shape of the world economy in 2036 sits out there for years, doing quiet work on how you invest, what you tell your kids to study in college, and whether you assume your job survives the decade. The baseline right now is deliberately boring. Global growth is running near 3% a year, and outside of shocks it has for most of the past decade. Your 401(k) projections, your employer's hiring budget and your local housing market all rest on some version of that assumption. Boring baselines are useful. They are also the first thing to get blown up w...

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China will take the lead to help foster artificial-intelligence collaboration and development among developing countries, President Xi Jinping said at the BRICS bloc summit in New Delhi. China will pioneer the establishment of a BRICS AI open-source community, support the cooperation in developing and applying large language models, hold AI seminars and training courses, and build an open AI ecosystem, Xi said in a statement on Sunday released by the Ministry of Foreign Affairs. The country will also work to establish a BRICS digital ecosystem cloud platform, and conduct digital skills training, technological exchange and industrial alignment, Xi said. He also proposed setup of a BRICS engineer cultivation alliance and a youth exchange program for scientific and technological innovation. XI's proposals come as the AI sector booms, with companies releasing ever-more-powerful models at a frenetic pace. AI itself has come under scrutiny too, with one researcher who worked at both Ope...

Being a millionaire isn’t enough to join America’s top 10% here’s the net worth it actually takes to be in the top Clay Halton Sun, September 13, 2026 at 9:45 AM PDT 10 min read Photo by CandyRetriever / Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Having $1 million to your name is a major financial milestone. But in America today, it doesn't put you nearly as close to the top as you might think. In fact, the average American now believes they'll need $1.46 million just to retire comfortably, according to Northwestern Mutual's 2026 Planning & Progress Study (1). Among Americans who already have more than $1 million in investable assets, that figure jumps to $2.67 million. Top Picks Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one A record 45% of central banks plan to grow gold reserves and many inv...

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