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Business news today and breaking business updates with sharp market moves, earnings, deals, policy shifts, and clear analysis that respects your time.

Stop and Shop supermarket storefront in New Jersey

Stop & Shop to Close Westfield and Basking Ridge as New Jersey Footprint Falls to 45

Stop & Shop confirmed it will close its Westfield and Basking Ridge supermarkets this fall, bringing its New Jersey total to 45 stores. The closures extend the Ahold Delhaize-owned chain's two-year contraction,

August 1, 2026

by Dilnaz Shaikh

A customer reaches for a product in a grocery store as US consumer prices hold elevated at 3.7 percent annually in June 2026

US GDP Falls to 1.5% in Q2 as Gasoline Prices and Trade Deficits Pressure Economy

US gross domestic product grew 1.5 percent in the second quarter of 2026, slowing from 2.1 percent in Q1, as the Iran-driven gasoline surge and swelling trade deficits offset temporary consumer spending fueled by Trump's tax legislation.

August 1, 2026

by Dmitri Agafonov

FIFA President Gianni Infantino with US President Donald Trump at the 2026 World Cup trophy presentation

FIFA Scraps World Cup Stake Sale After COO Tells Staff They Were Deceived

FIFA President Infantino scrapped a $4.2 billion plan to sell a World Cup stake to Joshua

MVM Paks Nuclear Power Plant in Hungary forced to shut down as Danube River water levels hit record lows

Hungary Faces Energy Crisis as Record-Low Danube Forces Paks Nuclear Shutdown

Hungary's Paks nuclear plant shut down for the first time in 42 years Thursday as record-low

Oil tanker M/T Charminar at sea amid Iran war energy disruptions affecting BP North Sea oil sale

BP Puts Entire UK North Sea Business Up for Sale After Sixty Years of Production

BP is selling its entire UK North Sea oil and gas portfolio after sixty years of production, covering five major hubs and 1,100 jobs. CEO Murray Auchincloss confirmed the sale Thursday, citing

August 1, 2026

Business·Economy·News

Naval vessels in Red Sea as Iran war disrupts global oil tanker routes driving Exxon and Chevron profits

Exxon and Chevron Post Biggest Profits in Years as Iran War Lifts Oil Prices

ExxonMobil and Chevron reported their largest quarterly profits in years on Thursday, with both companies crediting the Iran war-driven oil price surge above $100 a barrel as the primary driver, even as

August 1, 2026

Business·Economy·News

Tesla electric vehicle at charging station modern urban environment

Tesla Weighs Selling China Business as SpaceX Merger Raises National Security Issues

Tesla is weighing the sale or spinoff of its China business as Elon Musk moves forward with plans to merge the electric vehicle company with SpaceX. SpaceX's defense contractor status creates national

July 31, 2026

Business·News·Technology

Amazon cloud computing data center servers infrastructure facility

Amazon AWS Posts Fastest Growth Since 2021 on AI Surge, Stock Jumps 12%

Amazon Web Services posted its fastest revenue growth since 2021 in the second quarter of 2026, as AI workloads hit a $25 billion annual run rate. The results sent Amazon's stock up

July 31, 2026

Business·Economy·News·Technology

Apple product display representing Apple's Q3 2026 earnings results as Tim Cook warns of rising memory costs

Apple Stock Slides 8% as Tim Cook Warns Memory Costs Will Keep Rising

Apple shares tumbled 8% Friday after CEO Tim Cook warned that memory costs would continue rising into Q4, overshadowing a record June quarter with $109.4 billion in revenue and iPhone sales at

July 31, 2026

Business·News·Technology

Bitcoin and cryptocurrency trading representing Coinbase's Q2 2026 net loss of 359 million dollars despite record market share

Coinbase Reports $359 Million Loss as Record Trading Volume Fails to Stem the Bleeding

Coinbase posted a $359 million net loss in the second quarter on revenue of $1.22 billion, down 14% sequentially, even as the exchange captured a record 10.3% of global crypto trading volume.

July 31, 2026

Business·Crypto·Economy·News

New York City skyline at night with One World Trade Center, site of the Kalshi illegal gambling lawsuit

New York Sues Kalshi for $36 Billion, Calls It an Illegal Gambling Platform

New York AG Letitia James and Governor Hochul sued Kalshi Thursday, demanding $36 billion and calling the CFTC-licensed platform an illegal gambling operation. The CFTC responded with an emergency restraining order to

July 31, 2026

Business·Economy·News

Anthropic team members collaborating at a whiteboard in the AI company's office, whose $5 billion stake anchors the Situational Awareness fund

Situational Awareness Down 67% in July, Sells Public Portfolio to Citadel

Leopold Aschenbrenner's Situational Awareness hedge fund lost 67% in July's AI stock rout, forcing a sale of its public portfolio to Citadel. The fund held $45 billion at its peak; it now

July 31, 2026

Artificial Intelligence·Business·Markets·News

An ExxonMobil field worker stands on industrial stairs at a Permian Basin facility

ExxonMobil (XOM) Posts $14.5 Billion Q2 Profit as Permian Output Hits 20-Year High

ExxonMobil posted Q2 earnings of $14.5 billion on adjusted EPS of $3.52 as Permian production hit a 20-year high and free cash flow reached $17.2 billion. The company returned $9.4 billion to

July 31, 2026

Business·Economy·News

Saudi Arabia GDP contracts Q2 2026 oil revenues Hormuz disruption

Saudi Arabia Economy Contracts 4.8% in Q2, Worst Since COVID, as Oil Revenue Plunges

Saudi Arabia's economy shrank 4.8 percent in Q2 2026, its worst since COVID, as Hormuz disruptions crashed oil revenues by 24.7 percent year-on-year. The IMF projects a 5.5 percent rebound in 2027

July 31, 2026

Business·Economy·News

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Business

Stop & Shop to Close Westfield and Basking Ridge as New Jersey Footprint Falls to 45

US GDP Falls to 1.5% in Q2 as Gasoline Prices and Trade Deficits Pressure Economy

FIFA Scraps World Cup Stake Sale After COO Tells Staff They Were Deceived

Hungary Faces Energy Crisis as Record-Low Danube Forces Paks Nuclear Shutdown

BP Puts Entire UK North Sea Business Up for Sale After Sixty Years of Production

Exxon and Chevron Post Biggest Profits in Years as Iran War Lifts Oil Prices

Tesla Weighs Selling China Business as SpaceX Merger Raises National Security Issues

Apple Stock Slides 8% as Tim Cook Warns Memory Costs Will Keep Rising

Coinbase Reports $359 Million Loss as Record Trading Volume Fails to Stem the Bleeding

New York Sues Kalshi for $36 Billion, Calls It an Illegal Gambling Platform

Situational Awareness Down 67% in July, Sells Public Portfolio to Citadel

ExxonMobil (XOM) Posts $14.5 Billion Q2 Profit as Permian Output Hits 20-Year High

Saudi Arabia Economy Contracts 4.8% in Q2, Worst Since COVID, as Oil Revenue Plunges

Radical Islam is being appreciated by Indian authorities too

Bangladesh; India’s Biggest Ally or China’s Dragon Nest?

Ahmadis in Bangladesh face fresh threat of persecution

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