AI flagship lab OpenAI has booked revenue at an annualized rate of about $50 billion so far this year, according to public documents it has filed.
Category: 13 October 2026
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HIGHER INTEREST RATES DEVALUE TECH STOCKS
n the stock market, the valuation multiple is a measure of how investors see a company’s future. The multiple is the price investors are willing to pay for each dollar a company earns.
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U.S. MORTGAGE RATE NEARS 7.5 PERCENT
During the week ending 2 October, the interest rate on a 30-year, fixed-rate mortgage reached 7.49 percent, rising from 7.28 percent the week before and climbing to its highest since November 2023, the Mortgage Bankers Association (MBA) reported.
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STIFFER BORROWING COSTS HARM CORPORATE BORROWING PLANS
This month, U.S. companies with the lowest credit rating saw their borrowing costs rise as high as 17 percent as lenders willing to take the risk command premiums higher than at any time since May 2020 at the onset of the COVID War.
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CONSUMERS’ OUTLOOK DARKENED AGAIN THIS MONTH
Households’ view of current economic conditions slumped to an all-time low in the University of Michigan’s most recent bimonthly survey of consumer sentiment.
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FEDERAL BUDGET ENDS FISCAL YEAR WITH A $2-TRILLION DEFICIT
The U.S. budget year ended 30 September, with the year’s budget hole deepening to $1.993 trillion, 12 percent worse than the previous year and the most since the 2021 year that included large amounts of COVID-related spending, the Congressional Budget Office (CBO) reported.
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ALMOST 20 PERCENT OF U.S. HOUSEHOLDS ARE LATE ON PAYMENTS
Nearly one American household in every five was behind in paying at least one bill when this year began, according to a U.S. Federal Reserve study published on 9 October. In 2022, the proportion was 12 percent.
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MARKET OVERVIEW
U.S. equity markets neared their record highs as last week ended. Investors shrugged off worries about the energy crisis, inflation, and the wobbly bond market as they positioned themselves to cash in on what is expected to be another bumper earnings season that begins this week.
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SPOTLIGHT: BIGS GETTING BIGGER
Schneider Electric, a French industrial conglomerate, will pocket PTC, a U.S. company making engineering software, for $205 a share in cash, totaling roughly $23.7 billion.
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TOP TREND 2022: SELF-SUFFICIENT ECONOMIES
For every loaded cargo container Europe exports to China, it imports six in return, according to the European Chamber of Commerce in China (ECCC).