President Trump hijacked NATO's summit within hours of touching down in Turkey, threatening allies and declaring the Iran ceasefire "over" as Washington and Tehran lurched toward renewed war.
The big picture: The carefully choreographed Ankara summit unraveled into the Trump show, with the agenda quickly overtaken by the president's grudge against allies who sat out the Iran war.
Federal Reserve officials saw a wide range of scenarios for how the economy and inflation will evolve at their meeting last month, leaving the central bank's policy committee divided over the path for interest rates ahead, according to minutes released Wednesday.
Why it matters: In Kevin Warsh's first meeting as Fed chairman, he wrestled with significant factions of the Federal Open Market Committee who see ongoing price pressures from the AI buildout as well as one that is more confident that falling energy prices will calm inflation.
The minutes, released after the customary three-week lag, show that all members of the policy committee were ultimately on board with leaving rates unchanged last month.
The document, however, gives little visibility into whether the Fed will feel compelled to raise interest rates in the coming months.
The minutes of the Federal Reserve policy meeting three weeks ago, due out Wednesday afternoon, are shaping up to be the most attention-worthy in recent memory.
Why it matters: Policy appears to be on edge, with Fed officials deeply divided over whether an interest rate increase is in order. Chairman Kevin Warsh has declined to signal his own instincts and has backed away from the practice of sending explicit guidance about future policy moves.
My 1,900-mile road trip last week in an electric vehicle proved it's easily doable, but the charging experience is still not as seamless and convenient as pumping gas.
Why it matters: Driving an EV is delightful. Charging an EV is what gives people anxiety. Until that problem is solved, EV sales in the U.S. will remain lackluster.
The AI boom is creating a new class of shock-resistant economies.
Why it matters: Countries making the chips, servers and infrastructure behind AI are ducking the worst of the energy crises, tariffs and geopolitical turmoil.
For decades, economists looked at income, geography and natural resources to explain which countries pulled ahead.
UniCredit of Italy has increased its stake in German lender Commerzbank to 47.6% of outstanding shares and 49.65% of voting shares, after securing 17.6% via a tender offer.
Why it matters: This gives UniCredit de facto control of Commerzbank's shareholder meetings, ahead of what would be Europe's biggest bank merger in nearly two decades.
Arya Bolurfrushan is founder of an AI startup that's raised over $60 million from brand-name investors.
He's also a crook.
Driving the news: Federal prosecutors this week unsealed documents showing that Bolurfrushan secretly pleaded guilty in June 2025 to participating in a large insider trading scheme tied to mergers and acquisitions.
As America reflects on its 250th anniversary, New York City offers a powerful lens on the ideas, institutions and ambition that continue to shape the country.
But the milestone is more than a commemoration of the past. It's a chance to ask what kind of nation we hope to become — and who will help build it.
Wall Street's sell-side analysts published a slew of bullish reports on SpaceX Tuesday, while cautioning that years of massive investments will be needed to bring Elon Musk's vision for the company to fruition.
Why it matters: These notes are some of the clearest and most well-informed public statements yet on the financial prospects for SpaceX.
South Korea's other massive memory chipmaker, SK Hynix, plans to sell $28 billion in stock in the U.S. later this week, even as waves of volatility batter the chip shares.
Why it matters: The offering will be a major test of whether investors are still gaga for memory chip stocks.
SK Hynix's offering comes just a month after the market absorbed the enormous SpaceX IPO.
The cost of Obamacare coverage is due to rise by a median of 14% next year, according to a new analysis, marking further turmoil for the law's marketplaces.
Why it matters: It would mark the second straight year of double-digit premium increases in the individual market.
The U.S. military said it struck Iranian military targets in the area of the Strait of Hormuz on Tuesday in retaliation for renewed Iranian attacks on commercial ships.
Why it matters: The exchange of fire risks plunging the U.S. and Iran into a new cycle of retaliation, threatening the fragile memorandum of understanding signed by President Trump less than three weeks ago.
