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$30 a Seat and a Meter Behind It. What Microsoft's One-App Copilot Actually Costs a Buyer.
Claims Fell to 197,000 While Tech Announced 155,126 Cuts. Check the Denominator.
Beyond Dental Work, Mexico Is Drawing a Different Kind of Medical Tourist
Meta's Answer to the Camera Problem Is a Pair of Glasses With No Camera
Ten Streaming Services Disappeared Last Quarter. None of Them Took an Audience With It.
Oura's Listing Raises $532 Million for the Company. It Keeps About $6 Million.
Google Knew for Seven Weeks. Its Customers Found Out From a Newspaper.
Xbox Is Three Quarters of the Way Through Its Reset. Halo Changed Hands on the Way.
Fox Paid $440 Million for a Library of Cheap Films. It Now Bills More Than $1 Billion a Year.
A Student Loan Refinancer Now Holds the 47th Largest Deposit Base in America
Apple's Second Round of Cuts Went After the Content It Has to Keep Making
The Big Read
The NumbersOil Rose 3 Per Cent on a Rejected Offer. The Strait It Is Pricing Logged 78 Ships in 20 Days.
Washington says nearly 40 million barrels left the strait under escort in two days, a pace equal to the pre-war average. Satellite ship tracking sees almost nothing. Both can be true, and the gap between them is where Monday's oil price lives.
A crude oil tanker at anchor. This photograph was not taken in the Strait of Hormuz and does not show a vessel named in this article. File photograph.
President Trump said on Saturday that he had turned down Iran's offer to reopen the Strait of Hormuz within a week. By Monday morning in Asia, Brent crude had recovered all of Friday's fall and more, trading at $107.35 a barrel shortly before 8am London time, according to Al Jazeera, against about $104 at the end of last week.
"I rejected their deal," Trump told reporters on the South Lawn of the White House, as reported by NBC News. "They want to make a deal where they open the strait immediately because they're losing so badly."
That is the news. The more useful question for anyone reading an oil price this week is what, exactly, the market thinks it has lost. The honest answer depends on whose count of the strait you believe, and the two counts on the public record are about as far apart as it is possible for two counts to be.
Media
The Cinema Ad Company Just Borrowed More Than the Stock Market Says It Is Worth
The company that runs the ads before the film is betting that the same audience can be reached in the lobby and the lift.
The Numbers
Stocks Had Their Best Day Since August. The Two-Year Treasury Did Not Move.
Everything that trades on oil and hope had a good day.
Weather
Pittsburgh
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Infrastructure Everybody Depends On Should Not Be Owned by a Competitor
Coverage Should Follow the Approval, Not the Advice
You Cannot Delegate the Thing You Have Never Done
Markets
The 30-Year Treasury Closed at Its Highest Since the Bond Came Back in 2006. Households Had Already Marked Up Their Inflation Forecast.
Last week's move was in the long end, which is where inflation risk is priced.
The Men Held Near Fairford Are Five Londoners. They Are on the Ordinary Police Clock, Not the Terrorism One.
Several reports say the men can be held for up to 14 days.
Five Men Are in Custody Near RAF Fairford. No Attack Took Place, and No Official Has Alleged Iran Directed Anything.
RAF Fairford is a Royal Air Force station owned by the UK government and used by the US Air Force as a bomber forward operating base — the Ministry of Defence's own words.
Thirty-Three Hours, Then a Board of Four. Automattic's Control Structure Was Never in Doubt.
Mullenweg has said publicly that he controls 84 per cent of Automattic's votes.
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Editors read every submission. Here is how to send documents, on background or on the record.
How to submitThe Picture
A Factory in Liuzhou Now Builds a Humanoid Robot Every Ten Minutes
The Argument
Will the World Agree AI Red Lines Before the Year Runs Out?
The Numbers
Twelve to Nothing. The Fed Raised Rates Into an Oil Shock It Says It Cannot Fix.
The Numbers
Private Credit's Default Rate Hit a Record the Week Before the Fed Raised Rates
The Long View
The Government Paid $6.7bn Last Year for Work Nobody Did
Editor's Choice
OpenAI Is Sounding Out a $1.5tn Valuation and Putting Off the Listing
A private valuation is a negotiated figure between a small number of parties.
Latest News
Everything we have published, newest firstWhy Did the Senate Vote Twice on the Same Bill in Three Days?
The Senate spent Thursday on two different kinds of majority. A bill rewriting college athletics cleared its procedural hurdle 77 to 22, two days after a 74 to 24 cloture vote on the same motion. A district judgeship cleared cloture 49 to 47 an hour later.
What Happens When the Advertiser's Own Agent Joins the Conversation?
Sponsored Agents, announced Wednesday, are brand-funded units that open a labelled conversation with an advertiser's own agent inside ChatGPT, wired to commerce systems so the purchase never leaves the window. Wayfair is a pilot partner. The advertising business reached a $1bn annualised run rate in under 200 days.
National News
Why Did the Senate Vote Twice on the Same Bill in Three Days?
The Senate spent Thursday on two different kinds of majority. A bill rewriting college athletics cleared its procedural hurdle 77 to 22, two days after a 74 to 24 cloture vote on the same motion. A district judgeship cleared cloture 49 to 47 an hour later.
The House Voted a Third Time to End the Iran War, and Is Still About Seventy Votes Short
The House passed a war powers resolution 220 to 204 late on Tuesday, directing the president to remove US forces from hostilities with Iran. Seven Republicans crossed. It is the third time the chamber has voted this way since June, and none of the three has reached the president's desk. The Congressional Budget Office put the war's cost at $2bn to $3bn a month.
The Doors Closed at Half Past Four, and Two Thousand Performances a Year Closed With Them
A closure is announced in one sentence and absorbed over two years. The question a national memorial's audience is left with is not whether the building reopens, but what it reopens as.
The Long View
The EU Cannot Admit Canada, So It Has Invented a Category Instead
In her State of the European Union address in Strasbourg on Wednesday, Ursula von der Leyen invited Canada to become the EU's first associate member. The treaties make full membership impossible, because Canada is not a European state. What she is offering is a new category, to be negotiated, with a summit in Montreal next month.
Kosovo's Former President Was Convicted by a Court Kosovo Agreed to Create
The Kosovo Specialist Chambers in The Hague convicted former president Hashim Thaci of four counts of war crimes on Wednesday and sentenced him to 25 years. Three other former Kosovo Liberation Army commanders were also convicted. The court is Kosovo's own creation, staffed by international judges, sitting in another country, and it exists because Kosovo's allies required it.
Two things were decided on Tuesday.
The Numbers
A Comedy Nobody Had Heard of Last Year Won Six Emmys, Including the One That Counts
Widow's Bay took six Emmys in its first season on Monday night, including outstanding comedy series. The Pitt won outstanding drama for the second year running. Jean Smart became the first woman to win an Emmy for every season of a show, and Matthew Rhys the first person to win two lead acting Emmys for different series in the same year.
What We’re Following
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The Drones Hit a Warsaw-Bound Train Minutes After the Diplomats Passed Through
Five Percent. The Monday the Price of Money, Energy and the Future Moved Together.
The Former Rebels Are Losing Bangsamoro's First Election to Other Former Rebels
The Kennedy Center Says It Cannot Make Payroll, and Its Board Has Named One Way Out
Pennsylvania Has 693 Measles Cases, 133 Hospitalisations and a Third Death Under Review
The state health department reports 693 confirmed measles cases across 38 of Pennsylvania's 67 counties, with 133 hospitalisations and two confirmed deaths. A third death reported by a county coroner on Sunday is under review. Fewer than one percent of cases were in vaccinated people.
The Labs Asked for Rules. The President Says the Guardrail Is Him.
An industry asking to be constrained is unusual. A government declining to constrain it is more unusual still, and it leaves the proposal resting on exactly the voluntary commitments its authors said were not enough.
Opinion Voices
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The reporters and editors behind the coverage
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Technology Correspondent
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Editor-at-Large
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Staff Writer
The Men Held Near Fairford Are Five Londoners. They Are on the Ordinary Police Clock, Not the Terrorism One.
Five Men Are in Custody Near RAF Fairford. No Attack Took Place, and No Official Has Alleged Iran Directed Anything.
Ten Streaming Services Disappeared Last Quarter. None of Them Took an Audience With It.
The Story So Far
The Hormuz Closure23 stories
- 28 Sept The 30-Year Treasury Closed at Its Highest Since the Bond Came Back in 2006. Households Had Already Marked Up Their Inflation Forecast.
- 28 Sept Oil Rose 3 Per Cent on a Rejected Offer. The Strait It Is Pricing Logged 78 Ships in 20 Days.
- 22 Sept Stocks Had Their Best Day Since August. The Two-Year Treasury Did Not Move.
- 19 Sept Saudi Arabia Spends $83 Billion a Year. Its Pipeline Is Burning and It Has Not Answered.
- 17 Sept Yields Touched Five Percent and Then Fell. The Market Read the Hike as a Promise.
- 16 Sept Twelve to Nothing. The Fed Raised Rates Into an Oil Shock It Says It Cannot Fix.
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