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From snack packaging to AI chips, the Iran War's supply chain blockades are causing severe global shortages across consumer and industrial goods. Calbee, Japan's biggest snack maker, on Tuesday warned its products will switch from their famously colorful packaging to black-and-white labels by the end of the month due to an Iran war-spurred shortage of an ink ingredient, the latest disruption to hi...

Nvidia’s value reached the $5.5 trillion mark for the first time Wednesday, again breaking the record for the highest ever market capitalization in the history of publicly traded companies, as its stock rallied following news that centibillionaire CEO Jensen Huang is joining President Donald Trump’s trip to China. Nvidia’s market cap reached just over $5.5 trillion as shares surged 3% as of early...

President Donald Trump reportedly invited a group of billionaires—worth a combined $870 billion, according to our estimates—to join him on his trip to China this week to meet Chinese President Xi Jinping, their first summit of Trump’s second term, which comes amid tensions over trade, the war in Iran and the future of artificial intelligence. Tesla’s Elon Musk, Blackstone’s Stephen Schwarzman, App...

With the Strait of Hormuz closed for nearly 10 weeks, much of the world is running out of jet fuel and summer vacation plans could be disrupted, energy experts told Forbes. “It’s not going to be a short-term issue, because it can’t be easily solved,” Matt Smith, director of commodity research at Kpler, the energy data and analytics platform, told Forbes, having likened the jet fuel shortage to a “...

The World Health Organization has confirmed dozens of people, including Americans, left the ship upon which a hantavirus outbreak has killed several people and flew home after the death of the first passenger but before they knew they’d been exposed to a contagious and deadly disease. On Thursday, May 7th, Oceanwide Expeditions, operator of the cruise ship MV Hondius, says at least 29 living passe...

FIFA hyped the World Cup as an economic juggernaut for the U.S.—but with five weeks until the tournament kicks off, the hotel industry says advanced bookings in some host cities are on par or lagging any ordinary summer. Nearly 80% of U.S. hoteliers in 11 World Cup host cities say bookings are tracking below original forecasts, with some describing the tournament as a “non-event,” according to an...

The jet fuel crisis was the straw that broke Spirit Airlines’ back, but other budget airlines are also struggling to be profitable and losing market share—a potential warning for cost-conscious travelers, aviation experts tell Forbes. Low-cost carriers—including Allegiant, Frontier, JetBlue, Southwest, Spirit and Sun Country—combined for 35.5% of market share in February, down from 38.2% a year ea...

Suno, the AI music generation company that has attracted a staggering 100 million users is reportedly nearing a close of a funding round that could value it at more than $5 billion, more than double what it was valued after its last funding round in November. Suno is expected to close a Series D funding round in the coming weeks, Axios and Billboard reported Monday morning, which Axios reported co...

GameStop might issue additional stock to complete its $55 billion takeover of eBay amid skepticism from economists about whether the video game retailer could afford to acquire the company, whose market value is more than double GameStop's. GameStop CEO Ryan Cohen told CNBC on Monday the video game retailer’s half-cash, half-stock bid for eBay may rely on issuing stock, or the process in which a c...

Larry Page’s net worth swelled on Thursday, surpassing $300 billion for the first time as Alphabet’s stock rose after reporting a surge in cloud revenue through the Google parent’s latest quarter. Forbes’ Real-Time Billionaires List estimates Page’s net worth at $313.1 billion as of Friday morning, as the Google cofounder ranks as the second-wealthiest person in the world. Fellow Google cofounder...

LIV Golf, the competitor to the PGA Tour bankrolled by Saudi Arabia’s Public Investment Fund, is losing its funding from the Gulf state, according to The Wall Street Journal. This follows weeks of speculation surrounding the upstart’s potential shutdown. LIV intends to tell staff and players, some of whom were among the PGA Tour’s most popular when they were poached, on Thursday that the league wi...

Billionaire Google co-founder and ex-California resident Sergey Brin has said he’s adamantly opposed to a proposed one-time, 5% tax on the wealth of California residents (and has spent $57 million to fight it) because he fears it will lead the state down a similar socialist path as that of the former Soviet Union, which his family fled when he was 6 years old. Brin, who has moved from a backer of...

The United Arab Emirates has announced it will no longer be a member of the Organization of the Petroleum Exporting Countries, OPEC, starting May 1 after reflecting on its "long-term strategic and economic vision," a move that could impact the group’s ability to control the supply of oil and prices around the world. The UAE made the announcement to leave the so-called oil cartel via the state-run ...

A U.S. special forces soldier who participated in the raid to capture Venezuelan President Nicolas Maduro has been charged with using classified information about the operation to win more than $400,000 on the online betting platform Polymarket. Learn more about your ad choices. Visit megaphone.fm/adchoices

Kalshi caught and suspended three political candidates who bet on the outcomes of their own elections, the prediction market company said in a statement on Wednesday, fining the three politicians and issuing five-year bans from their platform. Minnesota State Senator Matt Klein, a candidate running for the Democratic nomination for Minnesota’s second district in the House of Representatives, agree...