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- Gas prices fall below $4 a gallon for first time since July
Gasoline prices fell to their lowest level since July on Tuesday, with the national average price slipping below $4 a gallon for the first time in months.Data from AAA showed that the national average price dropped about 3 cents per gallon from Monday's report, with the average slipping to $3.97 a gallon on Tuesday.Gas prices have fallen about 17 cents per gallon over the last week, and roughly 39 cents from a month ago, according to AAA's data.CONSUMER INFLATION RISES FASTER THAN EXPECTED IN OCTOBER, CPI REPORT SHOWSThe decline in prices comes as refiners have switched to winter blends of gasoline that typically cost slightly less than summer blends, which can be sold at gas stations starting as early as mid-September.Winter weather tends to result in fewer drivers on the road, which can reduce demand for fuel and contribute to a downward trend in prices – with AAA noting that gas prices may fall between 10 and 30 cents per gallon during the winter months.TRUMP ADMIN POURING $480M LOAN INTO GULF OF AMERICA OIL AND GAS PROJECTConsumers have faced higher gas prices for much of this year amid the war in Iran, which has disrupted the flow of oil from the Middle East through the Strait of Hormuz and in turn, constrained supplies for refiners to convert crude into gasoline.Gas prices hit a recent peak at $4.50 a gallon on May 11, 2026, then declined to a recent low of $3.77 a gallon on July 6, according to data from the Energy Information Administration.CEO WARNS HIGH DIESEL PRICES COULD TRIGGER A 'VICIOUS CYCLE' OF SURGING FOOD PRICESOngoing tensions in the Middle East contributed to a rise in gas prices as summer turned to fall, with the national average reaching $4.47 a gallon on Sept. 21, 2026.The Bureau of Labor Statistics on Tuesday released the October consumer price index, which showed gasoline prices were up 1% last month – a much slower rise that followed monthly jumps of 9.1% in September and 3.9% in August. [TheTopNews] Read More.57 mins ago - Fossil CEO says turnaround is ahead of plan as sales return to growth
Watchmaker Fossil said Tuesday that the company is returning to profit and sales growth in the first signs of its turnaround strategy. [TheTopNews] Read More.2 hours ago - Short seller flagged Jensen Huang’s ‘uncomfortably close’ ties to ...Months before reports of the affair between Nvidia CEO Jensen Huang and alleged Chinese spy Alice Huang surfaced, a short-seller noted the "uncomfortably close relationship" between the two earlier this year.A report titled "NVIDIA (NVDA): The China Problem" was published by Culper Research in May 2026 and although it didn't directly suggest an affair between the two, it noted the close ties between them. The report also alleged that Megaspeed, the Singapore-based chip buyer Alice Huang worked for, was financed by Alibaba through shell companies."Nvidia CEO Jensen Huang has not only vouched for Megaspeed, but seems to have quite literally walked alongside Megaspeed at every step, while maintaining an uncomfortably close relationship with Megaspeed's Alice Huang, a Chinese national," Culper Research wrote.Culper Research, which is named after a spy ring created by George Washington during the American Revolutionary War, said that it was short on Nvidia because of the company's close ties to China amid geopolitical tensions with the U.S., which imposed export controls to block advanced AI chips from going to China.NVIDIA CASE HIGHLIGHTS RISKS OF ALLEGED 'HONEYPOT' SCHEMES TARGETING EXECUTIVESThe report claimed that Chinese firms are still accessing Nvidia's advanced chips through diversion from other buyers in Southeast Asia. It also noted that Nvidia has vouched for Megaspeed, which is the largest buyer of the company's chips in Southeast Asia and has faced investigations by U.S. regulators and authorities in Singapore.Regarding Jensen Huang's relationship with Alice Huang, the report noted they were seen together in June 2024 and May 2025. One Megaspeed employee said that "Jensen visits Megaspeed-linked data centers 'every few months' and 'every single time' he visits, he is accompanied by representatives from Alibaba."NVIDIA SHARES FALL AFTER INVESTIGATION INTO CEO'S RELATIONSHIP WITH ALLEGED CHINESE SPYThe report said that the Megaspeed employee characterized the company's relationship with Jensen as "very close" and corroborated a former Nvidia employee's suggestion that Nvidia employees wondered if there was a special relationship with the company.Jensen Huang disclosed over the weekend that he was "unfaithful to my wife" and that he was "deeply sorry" for his actions. He did not elaborate on the relationship.He also said that he fell short of his responsibilities to Nvidia and that he wants to earn back the confidence of those associated with the company.CHINA DENIES SPY PLOT TARGETING NVIDIA CEO JENSEN HUANG, CALLS ALLEGATIONS 'SMEAR'Huang's statement acknowledged the national security concerns raised in reports about the… [TheTopNews] Read More.2 hours ago
- Nvidia hires major New York law firm to investigate Jensen Huang affair
The appointment was made after it emerged Jensen Huang had an affair with a woman believed to be a spy for China. [TheTopNews] Read More.3 hours ago - Housing expert blasts ‘absurd’ California red tape keeping affordabl...California’s push to make housing more affordable is facing a familiar obstacle: getting new homes built, even as state laws seek to encourage development.Macro Trends Advisors founding partner Mitch Roschelle told FOX Business’ Stuart Varney on "Varney & Co." about the bureaucratic hurdles facing California builders and how the state’s approach compares with Florida's.Roschelle said he had invested in a company working to build affordable housing in Los Angeles. The project sought to use legislation signed by Gov. Gavin Newsom that allowed additional housing units on certain properties without rezoning, but Roschelle said regulatory obstacles made the effort difficult.CALIFORNIA FACES ONE-TWO PUNCH AS VOTERS REJECT WEALTH TAX AND BILLIONAIRES EYE EXITS"The reason why that company had a really, really hard time is the amount of red tape, which we should probably call blue tape because there’s nothing red about it, right? The amount of blue tape that takes place in California, especially in Los Angeles, especially post the fires is absurd," Roschelle said.While allowing more units on a property can create opportunities for development, it does not guarantee new homes will be built. Builders still face regulatory hurdles before construction can begin.CALIFORNIA WEALTH TAX ON BILLIONAIRES FAILS DESPITE BLUE WAVE, IN BLOW TO PROGRESSIVESRoschelle argued that bureaucracy, including decisions made by unelected officials, has made construction especially challenging in Los Angeles. He contrasted those hurdles with Florida, where he said potential property tax changes were encouraging some prospective buyers to act before the end of the year.But he cautioned that the activity in Florida does not mean the broader U.S. housing market is turning a corner. Roschelle said borrowing costs remain a major barrier to improvement.HOMEBUYERS GET AN ADVANTAGE IN DOZENS OF US CITIES — BUT PAY A STEEP PRICE"I think the only thing that's going to be a big help is lower interest rates," Roschelle said. [TheTopNews] Read More.3 hours ago
- Nvidia Hires Wachtell Lipton to Investigate C.E.O.’s Affair With Chinese Execu...
Wachtell partner Joon H. Kim, a former acting U.S. attorney, is leading the inquiry into the chip maker’s chief executive. [TheTopNews] Read More.4 hours ago
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