Trending Market News

President Trump announced he is banning MSNBC, CNN, and Politico from the White House. The article is labeled as breaking news with limited details currently available. This action represents a significant escalation in the administration's relationship with certain media outlets.

• Three major news organizations - MSNBC, CNN, and Politico - are being banned from White House access
• The announcement was made directly by President Trump
• This is a developing story with additional details expected as the situation unfolds

A consortium led by FedEx and Advent International has successfully secured 89.81% of shares in Polish parcel locker operator InPost, surpassing the 80% minimum threshold required for their takeover offer. The all-cash deal values InPost at approximately €7.8 billion ($8.95 billion), with shares priced at €15.60 each.

• The acquisition values InPost at €7.8 billion ($8.95 billion) in an all-cash offer of €15.60 per share
• InPost operates one of Europe's largest automated parcel locker networks across nine countries including Poland
• The company will maintain its InPost brand name, existing management structure, and headquarters in Poland following the takeover

NASA awarded SpaceX a $946 million contract extension to fly three additional astronaut missions to the International Space Station through 2030. This brings SpaceX's total contract value to $5.92 billion for 17 crewed flights, solidifying its role as NASA's primary crew transportation provider while Boeing's Starliner program faces ongoing technical challenges.

• The contract expansion increases SpaceX's total NASA crew missions from 14 to 17, with flights extending through 2030 using Crew Dragon capsules and Falcon 9 rockets
• NASA continues seeking dual providers for crew access after Boeing's Starliner experienced significant problems during its 2024 test flight, turning a planned 10-day mission into a 9-month ISS stay for astronauts Wilmore and Williams
• SpaceX has been NASA's main ISS crew rotation provider since receiving approval in November 2020, ending U.S. reliance on Russia's Soyuz spacecraft following the space shuttle retirement

JPMorgan Chase CEO Jamie Dimon will attend President Trump's state dinner for Chinese leader Xi Jinping in Washington next week. The event will also include other prominent tech executives such as OpenAI CEO Sam Altman and Nvidia chief Jensen Huang, highlighting the intersection of business leadership and U.S.-China diplomatic relations.

• The state dinner is scheduled for next Thursday in Washington, though the official guest list has not been publicly released
• Tech industry leaders Sam Altman (OpenAI) and Jensen Huang (Nvidia) are also reportedly attending the dinner
• Dimon's attendance underscores the significant role of major financial institutions in U.S.-China relations and bilateral diplomacy

Leaders of six major U.S. auto trade groups urged President Trump to maintain policies blocking Chinese automakers from operating in the U.S. ahead of Chinese President Xi Jinping's visit to Washington next week. The letter comes after Trump stated he would permit Chinese manufacturers to open plants in America, a position the industry strongly opposes.

• The coalition represents every major automaker operating in the U.S., including domestic and foreign manufacturers, plus roughly 17,000 franchised dealers
• Industry leaders argue that allowing Chinese automakers to manufacture in the U.S. would 'undermine fair competition' due to heavy government subsidies for Chinese manufacturers
• The automotive sector is described as 'foundational' to U.S. advanced manufacturing and defense, with leaders warning that once the base is 'hollowed out, it can't be rebuilt overnight'

Saudi Aramco has halted October crude oil deliveries to at least two European refiners following a drone attack on Saudi Arabia's East-West pipeline that damaged three pumping stations and disrupted loadings at the Red Sea port of Yanbu. The disruption affects term contracts that normally guarantee monthly supplies to European customers. Aramco is working to partially restart the pipeline within days and reach full capacity within six weeks.

• European refiners like Poland's Orlen are seeking alternative crude supplies, with some purchasing North Sea grades to replace disrupted Saudi imports
• Aramco has increased crude exports from the Gulf through ship-to-ship transfers off Oman's Sohar port to help offset volumes lost from reduced Red Sea shipments
• The pipeline is expected to partially restart within days and return to full capacity within six weeks, according to Bloomberg sources

Italian cable maker Prysmian partnered with Rio Tinto to supply electrical cables made with low-carbon aluminum for an Amazon data center in Ohio. The cables will use aluminum produced with ELYSIS 'inert-anode' technology, which eliminates direct greenhouse gas emissions from smelting and releases pure oxygen instead. This marks the first known use of this technology in a data center application.

• The ELYSIS inert-anode technology eliminates direct greenhouse gas emissions from the aluminum smelting process, releasing pure oxygen instead of carbon emissions
• This is the first known application of inert-anode-smelted aluminum in a data center, demonstrating carbon footprint reduction at the raw material level
• The initiative supports Amazon Web Services' 2040 net zero target, with cables to be manufactured at Prysmian's Sedalia, Missouri facility

French soccer star Kylian Mbappe has left Nike after a 20-year partnership to join Swiss sportswear brand On, marking a significant high-profile defection for Nike. The deal includes cash and equity components and supports On's expansion into soccer, where it plans to launch its first boots in 2027. The move adds pressure on Nike as it loses marquee athletes to rivals amid CEO Elliott Hill's turnaround efforts.

• Mbappe's partnership with Nike began in 2006 when he was 9 years old; his departure follows Nike's recent loss of Spain's Lamine Yamal to Adidas and its Premier League match ball contract to Puma
• On is expanding beyond running and tennis into soccer, hiring former France star Thierry Henry as director of football and targeting boot launches in 2027
• Nike CEO Elliott Hill is refocusing strategy on key sports like soccer and running, but losing Mbappe undercuts turnaround efforts as the Real Madrid forward was central to Nike's 2026 FIFA World Cup marketing

Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway effective immediately after leading the company since 1965, achieving a 19.7% compounded annual return that nearly doubled the S&P 500. His son Howard Buffett will become chairman while Greg Abel continues as CEO, a role he assumed nine months earlier. Buffett will remain on the board as chairman emeritus.

• Berkshire has grown into a $1 trillion conglomerate with $44.5 billion in operating earnings and nearly 400,000 employees under Buffett's six-decade leadership
• Greg Abel, 64, took over as CEO in May 2025, while Howard Buffett will serve as chairman to 'guard the culture and values' of the company
• Berkshire is underperforming in 2026, trailing the S&P 500 by nearly 9 percentage points, while holding a record $365.5 billion cash position

Japan's Osaka Gas agreed to acquire a 5% stake in BP's Browse gas project offshore Western Australia to strengthen its LNG supply portfolio. The purchase will be made through a joint venture with state-backed JOGMEC, pending regulatory and partner approvals. Financial terms were not disclosed.

• Browse is Australia's largest undeveloped gas resource, expected to produce 11 million metric tons of LNG annually once operational
• Osaka Gas will secure approximately 550,000 tons of LNG per year through its 5% stake in the project
• The Browse project, operated by Woodside Energy, is currently in pre-FEED stage and will supply the North West Shelf LNG facility in Western Australia

Volkswagen is recalling 208,724 vehicles in the United States due to a defective steering rack bolt that could corrode and break, potentially causing loss of steering control. The recall affects certain 2018 Tiguan, 2018-2019 Atlas, and 2019-2021 Audi Q3 models, with dealers replacing the faulty bolt free of charge.

• The steering rack mounting bolt may corrode and break, leading to potential loss of steering control and increased crash risk
• Affected models include specific year ranges: 2018 Tiguan, 2018-2019 Atlas, and 2019-2021 Audi Q3 vehicles
• Dealers will replace the right-side steering rack mounting bolt at no cost to owners as the recall remedy

Washington and Beijing are finalizing a delegation of Chinese business executives to join President Xi Jinping's upcoming September 24 visit to Washington, sources say. The group may include leaders from companies facing U.S. regulatory scrutiny, such as BYD, CATL, Xiaomi, and Gotion, as they seek greater market access. This mirrors former President Trump's May Beijing visit, which included U.S. executives from firms facing Chinese regulatory pressure.

• Companies under consideration face significant U.S. barriers: CATL and BYD are on Pentagon lists over alleged military links, while a Biden-era rule will bar China-linked connected vehicle manufacturers from U.S. sales starting model year 2027, with 100% tariffs on Chinese EVs
• China seeks reciprocity after Trump brought U.S. CEOs (Micron, Qualcomm, Illumina) to Beijing in May; the Chinese delegation is expected to be similar in size and executives will attend a White House state dinner
• Final invitations and U.S. visas are expected within days pending a weekend meeting between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, with modest expectations for summit outcomes

Apple is set to launch Apple Pay in India next month, initially partnering with Axis Bank credit cards. The move brings Apple's payment service to one of the few major economies where it has not been available, entering a market dominated by India's Unified Payments Interface which accounts for 84% of digital payment volumes.

• Axis Bank, India's fourth-largest credit card issuer with 16.26 million active cards, will be the initial banking partner for the October launch
• Apple is in discussions with larger rivals HDFC Bank and ICICI Bank but has not yet agreed on commercial terms with these lenders
• The launch was enabled by a Reserve Bank of India rule change last year allowing biometric authentication for card payments, making Face ID and Touch ID compatible with Indian bank cards

Hundreds of Qantas ground workers are set to strike next week over a pay dispute, according to the Transport Workers Union announcement on Friday. The industrial action will affect Australia's flagship carrier, potentially disrupting airport operations and passenger services.

• The strike is being organized by the Transport Workers Union and involves ground handling staff at Qantas
• The dispute centers on pay negotiations between the union and Qantas management
• The timing and scale of the strike could impact flight operations at Australia's major airports

Disney is asking a U.S. judge to block the Federal Communications Commission from conducting an early review of its eight ABC station licenses, citing ongoing threats by President Donald Trump against reporters and broadcast networks. The company argues that FCC Chair Brendan Carr is carrying out Trump's directives aimed at curbing speech critical of the administration.

• Disney filed a court motion claiming the FCC's early license review is politically motivated retaliation for critical coverage
• The company alleges FCC Chair Brendan Carr is executing Trump's specific directives to suppress media criticism of the administration
• Eight ABC station licenses owned by Disney are subject to the contested FCC review

Crusoe, an AI infrastructure provider, raised $3.9 billion in a Series F funding round at a post-money valuation of $30.9 billion. The company, which pivoted from cryptocurrency to AI infrastructure in 2018, is part of the emerging 'neocloud' sector providing specialized AI cloud and data center services to meet surging demand for AI computing capacity.

• The funding was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with participation from Nvidia, Founders Fund, QIA, and other investors
• Crusoe has over $140 billion in total contracted value and more than 6 gigawatts of contracted capacity, with 1 GW already operational
• The massive investment reflects broader sector momentum, exemplified by Blackstone and Alphabet's Crux AI securing a $22 billion chip loan plus $5 billion in equity

Shell-led LNG Canada is expected to approve a Phase 2 expansion by early October that would double the facility's capacity to 28 million metric tons per annum. The C$40 billion Phase 1 project in British Columbia shipped its first cargo earlier this year and represents Canada's first large-scale LNG export terminal. The expansion comes as Asian buyers seek to diversify supply sources amid Middle East conflicts and shipping disruptions.

• Phase 2 would add 14 mtpa of export capacity, doubling total capacity to 28 mtpa at the Kitimat, British Columbia facility
• The joint venture includes Shell, Malaysia's Petronas, PetroChina, Mitsubishi Corp, and Korea Gas Corp (KOGAS)
• The facility's Pacific Coast location provides shorter shipping routes to Asian markets compared to U.S. Gulf Coast exporters that must transit the Panama Canal

The U.S. FDA approved Ultragenyx's gene therapy Fayuvi for Sanfilippo syndrome Type A, marking the first treatment for this rare, fatal disease. The approval comes after the FDA rejected the therapy last year due to manufacturing concerns. The disease is caused by a missing enzyme that prevents the body from breaking down heparan sulfate, leading to progressive neurodegeneration.

• Fayuvi is the first approved therapy for Sanfilippo syndrome Type A, a rare genetic disorder caused by sulfamidase (SGSH) enzyme deficiency
• The gene therapy addresses the underlying enzyme deficiency that causes abnormal heparan sulfate accumulation in the brain, resulting in progressive cell damage and neurodegeneration
• The FDA initially declined approval in 2023 due to manufacturing concerns, which Ultragenyx has since resolved

The US State Department has approved a potential $24.3 billion sale of F-35 fighter jets to Saudi Arabia. The deal includes 48 Lockheed Martin F-35 Lightning II aircraft, 49 Pratt & Whitney engines, and associated equipment. The approval comes as Saudi Arabia becomes more deeply involved in regional conflicts.

• The sale package includes 48 F-35 aircraft, 49 engines, communications equipment, spare parts, and support items totaling $24.3 billion
• The State Department stated the proposed sale 'will not alter the military balance in the region'
• The approval reflects Saudi Arabia's deeper involvement in regional security matters and strengthens US-Saudi defense ties

Credit Acceptance Corp will pay $75.5 million in cash and forgive over $630 million in consumer debt to settle predatory lending allegations with 41 state attorneys general. The subprime auto lender was accused of financing risky loans consumers could not afford and selling expensive add-on products without proper disclosure. The settlement also requires significant lending practice reforms.

• Total settlement value exceeds $710 million, combining $75.5 million in payments with more than $630 million in forgiven consumer debt across 41 states
• Credit Acceptance must now disclose to borrowers that loans carry historically high default risk and waive 95% of debt owed if borrowers default within the first 12 or 18 months
• The company allegedly sold expensive add-on products that consumers did not know they were purchasing and financed loans it knew or should have known were unaffordable