Why it matters: China once represented a lucrative growth opportunity and manufacturing base for American automakers, but those ties are unraveling as Chinese rivals like BYD and Geely expand their reach around the world.
AGent Energy, a startup that integrates backup generators into the grid during emergencies, raised $11 million in seed funding co-led by Spero Ventures and MassMutual Ventures.
Why it matters: Power demand is rising quickly, straining grids and helping drive up electricity bills.
Brittany Kelm, one of the White House's senior energy advisers, is leaving to work for Sable Offshore, a small oil company with a big political footprint.
Why it matters: Sable Offshore was at the center of a dispute between California and the Trump administration, which invoked the Defense Production Act in March to cut regulatory red tape to help the company quickly boost oil production.
Inflation was benign in July, a second month of relief for American consumers and economic policymakers contending with stubborn price pressures.
But the encouraging inflation picture may already be out of date, with the data largely capturing prices before renewed Middle East fighting sent energy costs notably higher.
Why it matters: The tame reading might give the Federal Reserve some breathing room to hold off raising interest rates in September. Still, the Iran war and the whiplash in energy prices it has unleashed leave lingering questions about the staying power of the inflation relief.
The state of the global diesel market is getting even more precarious as the Russia-Ukraine war and the Iran crisis squeeze supply from multiple angles.
Why it matters: Diesel prices ripple through economies here and abroad, affecting shipping costs, construction and plenty in between.
Inflation eased in July from a year earlier, with prices inching up slightly from the previous month after falling sharply in June, the Labor Department said Wednesday.
Why it matters: It is the first inflation report since fighting with Iran resumed in early July, though the data suggests inflation had yet to pick back up amid the renewed conflict.
