With the recent announcement of the government shutdown, tourists are facing mixed experiences at national parks and historic sites. Status of Liberty and Ellis Island remained open despite New York Governor Kathy Houchul's decision to fund operations. President Jimmy Carter's gravesite in Georgia, Philadelphia's Liberty Bell and Independence Hall, and Atlanta's Martin Luther King Jr. National Historical Park is all shut. While roads and trails largely stayed accessible, visitor centers closed, raising safety concerns. Past shutdowns, like at Joshua Tree in 2019, saw vandalism and damage, fuelling calls from former superintendents to close all parks during shutdowns.Read more

Moldova's GDP grew by 1.1% in the second quarter of 2025, driven by construction, energy, and IT industries. The first quarter had seen a 1.2% contraction, indicating early-year challenges. The European Bank for Reconstruction and Development expects GDP growth of 1.5% this year and 3.8% next year, supported by European Union programs. The central bank's interest rate cut to 6% aims to boost investment and economic activity. Agriculture, remittances, and IT continue to be major contributors, with the IT sector playing an increasing role in supporting the country's economic stability and gradual diversification.Read more

Shein, the online fast-fashion giant, is set to open its first permanent stores in France this November under a deal with Société des Grands Magasins (SGM), starting at Paris's BHV department store and later at Galeries Lafayette outlets in Dijon, Grenoble, Reims, Limoges, and Angers. The move, a shift from Shein's online-only model and past pop-up stores, has sparked backlash from French retailers, lawmakers, and Paris Mayor Anne Hidalgo, who criticised it as undermining local, sustainable commerce. Galeries Lafayette has also opposed the plan, citing conflicts with its brand values. Critics argue Shein's ultra-low-cost model threatens struggling French fashion retailers already hit by fast-fashion competition.Read more

Russia has assigned PSB, a military-linked bank under Western sanctions, to manage accelerated state property sales. A new decree mandates asset valuations within 10 days of signing a contract and speeds up property rights registration. The government aims to raise 100 billion INR this year and up to USD 12 billion by 2030, including part of the USD 50 billion in seized assets. These measures follow Western company exits, expropriations, and state seizures, with officials citing "unfriendly" actions by the U.S. and its allies as the reason.Read more

Fermi, a Texas-based REIT co-founded by Rick Perry, raised USD 682.5 million in its U.S. IPO, selling 32.5 million shares at USD 21 each and achieving a valuation of USD 12.46 billion. The company is developing a large AI data center campus powered by nuclear, solar, and natural gas to serve hyperscale tenants. Strong investor demand led to an increase in IPO size. While still early in operations, with a reported USD 6.4 million loss to date, Fermi aims to deliver up to 11 gigawatts of power by 2038.Read more

Dar Global is set to develop a USD 1 billion Trump Plaza in Jeddah, featuring premium residences, serviced apartments, office spaces, and exclusive townhouses. This is the second Trump-branded development in Saudi Arabia, following Trump Tower Jeddah last year. The project targets high-end buyers and international investors, reflecting growing demand for luxury real estate in the kingdom. Trump Plaza Jeddah aligns with Saudi Arabia's efforts to diversify real estate and hospitality investments and reinforces the role of international brands in shaping Jeddah's urban and luxury property landscape, contributing to the city's position as a growing hub for premium developments.Read more

Armani Group has begun exploring the sale of a minority stake, with informal approaches made to potential buyers, sources told Reuters. Among those approached is French cosmetics giant L'Oreal, which already has a licensing deal with Armani running until 2050. Talks are still at an early stage and could take months to progress, while private equity bidders have not yet been contacted. Rothschild is expected to advise on the transaction, with partner Irving Bellotti also serving on the Armani Foundation board. The move comes just weeks after Giorgio Armani's death, sparking interest in the future direction of one of fashion's most iconic brands.Read more

TotalEnergies is raising USD 950 million by selling a 50% stake in its U.S. solar portfolio to KKR, while retaining the other half of its 1.4-gigawatt portfolio. This move is part of a broader strategy to generate USD 3.5 billion by year-end, offsetting acquisitions that more than doubled its debt in the first half of 2025. At the same time, Total is expanding its natural gas presence by acquiring a 49% stake in Continental Resources' upstream gas fields in Oklahoma, boosting net gas production and securing supply for long-term Asian contracts.Read more

The U.S. Federal Trade Commission has filed a lawsuit claiming Zillow paid Redfin USD 100 million to stop competing in online apartment rental listings. The FTC says the deal reduces competition in a concentrated market, likely increasing advertising costs for larger rental properties and limiting improvements in site usability for renters. Under the agreement, Redfin transferred most of its rental business to Zillow, agreed to stay out of the market for up to nine years, assisted with sales staff hiring, and transitioned its customers to Zillow's platform.Read more

Malaysia is preparing a roadmap to transform its steel industry into a fully green sector by 2050. The plan aims to manage overcapacity, restructure licensing, and prepare for decarbonisation. Measures include clear licensing guidelines, carbon pricing, transparency frameworks, and better access to finance for green and high-value production. The industry faces challenges such as high carbon intensity and a supply-demand imbalance. Malaysia also recommends ASEAN collaboration through shared databases, common decarbonisation pathways, and green steel hubs to improve competitiveness and support sustainable growth in the regional steel market.Read more