Author: Editor-In-Chief

This report is from CNBC’s The China Connection newsletter this week, delivering insights and analysis on the powerhouse of the world’s second-largest economy. You can subscribe here.big storyLatest data from China showed a key indicator of consumption has fallen to its lowest level in nearly three years. But that doesn’t capture the whole story. America’s membership warehouse clubs tell a more nuanced story. They say they are successful in attracting consumers who are willing to pay high membership fees in exchange for premium products at reasonable prices. Additionally, these stores offer a no-frills “treasure hunt” shopping experience to sweeten the…

A view of Oracle headquarters in Redwood Shores, California.Justin Sullivan | Getty Images Anxiety that investors have around them oracle The impact on the project was felt as the stock price fell nearly 50% from its all-time high on September 10th.Asset management firm Blue Owl Capital reportedly pulled out of Oracle’s $10 billion data center project due to unfavorable debt terms, amid growing concerns about the tech giant’s high debt levels, according to the Financial Times.This latest development has fueled concerns that Oracle will delay completion of OpenAI’s data center, a report first flagged by Bloomberg on Friday, which the…

Ghislaine Maxwell in New York City, September 20, 2013.Laura Kavanaugh | Getty ImagesGhislaine Maxwell, who was convicted of crimes related to the recruitment of underage girls to be sexually abused by Jeffrey Epstein, filed a petition Wednesday seeking to have her conviction vacated, claiming that “substantial new evidence has emerged” that undermines the case against her.The former British socialite could be released from a federal prison in Texas, where she is serving a 20-year sentence, if Maxwell’s long-awaited habeas petition in Manhattan’s U.S. District Court is approved.However, such petitions are usually denied.Earlier this year, the Supreme Court refused to hear…

Former Justice Department special counsel Jack Smith appeared before a U.S. House of Representatives committee to defend two criminal prosecutions he led against President Donald Trump.Smith testified in a closed session Wednesday and was questioned by the House Judiciary Committee about two criminal indictments that he ultimately led.Recommended stories list of 3 itemsend of listThe first, filed in June 2023, alleges that President Trump mishandled classified information while in office. The second time, in August of the same year, he accused Republican leaders of trying to overturn the results of the 2020 presidential election they lost.“Our investigation provides evidence beyond…

Venezuelan President Nicolas Maduro said Wednesday that U.S. President Donald Trump has revealed his true motives against the South American country, claiming he stole America’s “oil, land and other assets.” Maduro said Trump’s claims show that the United States is serious about seeking regime change as well as ownership of Venezuela’s territory and resources. The United States has previously characterized its naval buildup near the country as aimed at combating drug trafficking. “This is just warmongering and a colonialist sham. We have said it many times, but now everyone sees the truth. The truth has come out,” Maduro said in…

A stoppage-time header from teenager Lewis Miley gave holders Newcastle a 2-1 win over Fulham, sending them through to the Carabao Cup semi-final against Manchester City.The 19-year-old played out of position at right-back but was in the right position to head in substitute Sandro Tonali’s corner in the 92nd minute, sparking frenzied scenes at St James’ Park and putting the derby disaster at Sunderland to the forefront. Newcastle increased their lead 10 minutes into the game through Yoan Wissa, before Sasa Lukic equalized for Fulham with a header six minutes later. Marco Silva’s side fought bravely but faltered as the…

Like almost every existing technology company, Adobe has been leaning heavily into AI over the past few years. The software company has launched various AI services since 2023, including Firefly, an AI-powered media generation suite. But now the company’s full embrace of the technology may have caused problems, as a new lawsuit alleges that the company used a pirated book to train one of its AI models. A proposed class action lawsuit filed on behalf of Oregon author Elizabeth Ryan alleges that Adobe used pirated copies of numerous books, including hers, in training for its SlimLM program. Adobe describes SlimLM…

July 26, 2025, MetaX booth at Shanghai New Expo Center in Shanghai, China. (Photo by Ying Tang/NurPhoto, Getty Images)Null Photo | Null Photo | Getty ImagesIt felt like déjà vu when chipmaker MetaX Integrated Circuits’ stock price soared 700% in its Shanghai market debut on Wednesday. Moore Thread soared more than 400% on its first day of trading just two weeks ago.These are the latest Chinese AI chip companies that investors in the country are pouring money into as they race to develop their own chips and challenge Nvidia’s dominance in the face of U.S. export restrictions.Both are manufactured by…

A Main Street Alliance participant holds a sign outside the U.S. Supreme Court as U.S. Supreme Court justices are scheduled to hear oral arguments on President Donald Trump’s efforts to maintain significant tariffs after a lower court ruled that the president overstepped his authority, Nov. 5, 2025, in Washington.Nathan Howard | ReutersSome small businesses that have to pay the bills for President Trump’s new tariffs are taking on high-interest merchant cash loans and other forms of debt to cover the additional costs.And several business owners who took on that high debt told CNBC that they feared it would lead to…

US President Donald Trump’s aide Stephen Miller has described the nationalization of the South American country’s oil industry as “theft” and suggested that Venezuela’s oil belongs to Washington.Miller’s comments Wednesday cast further doubt on the Trump administration’s assertion that drug smuggling is the main cause of tensions with Venezuela.Recommended stories list of 3 itemsend of list”The sweat, ingenuity, and toil of Americans created Venezuela’s oil industry,” Miller, acting White House chief of staff, said in a social media post.”That tyrannical expropriation was the largest theft of American wealth and property on record. Those looted assets were then used to fund…