China's Xi keeps Iranian president at arm's length weeks ahead of Trump summit
Livestream Menu China's Xi gave Iran's Pezeshkian a brief, low-profile audience at the SCO summit, as Beijing seeks to avoid appearing close to Tehran ahead of a high-stakes summit with Trump. The bloc's leaders condemned the military strikes on Iran, while backing member states' right to civilian nuclear development. KAZAN, RUSSIA - OCTOBER 23: President of China Xi Jinping meets with Iranian President Masoud Pezeshkian (not seen) within the 16th BRICS Summit in Kazan, Russia on October 23, 2024. Iranian Presidency | Anadolu | China's President Xi Jinping gave his Iranian counterpart Masoud Pezeshkian a brief, low-profile audience at a regional security summit, signaling Beijing's calibrated approach toward Tehran just weeks ahead of Xi's planned trip to Washington. The two leaders met for several minutes on the sidelines of the Shanghai Cooperation Organization summit in Kyrgyzstan on Tuesday, according to Iranian state media. The gathering brought together leaders of the 10-member bloc, including Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. The semi-official Mehr News Agency said that the Xi-Pezeshkian meeting focused on "bilateral ties in line with strengthening relations between Tehran and Beijing," without offering further detail. That contrasted with Beijing's approach of keeping the meeting out of public view. Chinese state media, including the Communist Party's flagship newspaper, People's Daily, gave extensive coverage to Xi's encounters with other visiting leaders on Tuesday, but made no mention of the meeting with Pezeshkian. Modi, by contrast, published photos of his meeting with the Iranian leader. "Xi is keeping Iran at arm's length publicly while still maintaining contact privately," said Han Shen Lin, managing director for Greater China at the Asia Group, a Washington-based strategic-advisory firm. The SCO leaders in a joint statement condemned the military strikes on Iran, while backing member states' right to civilian nuclear development under the Nuclear Non-Proliferation Treaty. The statement stopped short of committing members to any concrete military or economic support. The absence of Xi-Pezeshkian coverage from the state newspaper's front page reinforces the view that Beijing is "carefully managing optics," Lin said. China is seeking to preserve its strategic relationship with Tehran without signaling that it is siding with the country, he said, particularly ahead of Xi's planned meeting with President Trump later this month. China has been the largest buyer of Iran's sanctioned oil exports, but those flows through the Strait of Hormuz have fallen sharply since the war began, as Beijing slashed imports, tapping into its massive reserves.
Trump says U.S. is not forcing Iran to negotiate after fresh round of strikes
S. forces completed its strikes against Iran, hitting targets including air defense sites and radar systems. Tehran retaliated following the American strikes, with Jordan's armed forces saying that the country was targeted by a missile attack. Oil prices continued to rise following the strikes, with both Brent and WTI contracts rising over 4%. Iranian-made Zolfaghar missiles are displayed at Azadi Square in Tehran on August 2, 2026. Atta Kenare | Afp | President Donald Trump said he was "not trying to force Iran to the bargaining table," as U. S. forces completed a fresh round of strikes against the Middle Eastern country on Tuesday stateside. In a Truth Social post, Trump reiterated that the U. S. has "almost total control" over the Strait of Hormuz, while adding that Tehran's economy was collapsing. He said that Iran was just "playing out the inevitable" and asked "When are the Iranian people going to rise up and fight?" In a post on X, the U. Central Command said that it struck air defense and communications sites, and radar systems in Iran, in retaliation against the "recent attempted attacks" . Tehran has responded to American strikes, targeting U. The country's armed forces said that it was targeted by a missile attack that originated from Iranian territory. A spokesperson for Jordan's armed forces said on X that 10 of 13 missiles were intercepted 's air defense systems, with the three fell in remote areas. No injuries or deaths were reported. Bahrain's armed forces said on Instagram Wednesday that they had intercepted and destroyed a number of "treacherous Iranian air strikes today," following an earlier announcement by Bahrain's interior ministry of "an alert of potential threat." Oil prices continued to rise in Asia trading Wednesday following the strikes, after international benchmark Brent rose 4.5% to $94.52 a barrel on Tuesday, while U. S. West Texas Intermediate futures added about 5% to $90.03 per barrel, hitting levels not seen since July 24. Treasury Secretary Scott Bessent said in an interview with Fox Business Tuesday that the Strait of Hormuz will become a "worthless piece of water" in two years, arguing that oil will instead flow across land pipelines and bypass the Strait. Iranian forces on Monday stateside hit a U. S. base in Jordan after American forces attacked rocket launchers on Iran's Larak Island the day before. Washington claimed that the launchers were preparing to fire rockets carrying sea mines into the Hormuz Strait. The Sunday strikes were the first time that the U.
FirstFT: US-Iran hostilities reignite
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ECB must be prepared to lift interest rates further, says top policymaker
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The wheels are coming off the US world order
Trump believes in a world in which there are no allies, only satellites, and in which power is America’s alone to wield
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Livestream shopping is gaining steam in the U.S., thanks to apps like TikTok and Whatnot
S. livestream shopping industry is forecast to reach nearly $20 billion in sales this year, more than double that of 2024, according to eMarketer. Apps like TikTok and Whatnot are drawing more live sellers and creating spaces for like-minded consumers. But leveraging a large platform comes with fees and intense competition for eyes. VIDEO13:2913:29 How TikTok and Whatnot are making live shopping mainstream Consumer & Retail Digital Original Video From a warehouse just north of Chicago, Sarah Potempa – celebrity hairstylist and CEO of the viral Beachwaver hair curling iron – keeps thousands of viewers hooked for hours selling products on TikTok live. This kind of livestream shopping, which has boomed in China over the past decade, is building momentum in the U. S. thanks to social media giant TikTok and live commerce platform Whatnot, which just reached a $20 billion valuation. Beachwaver did about $8,000 in sales during the first four hours of a TikTok livestream in late July, which CNBC sat in for. She auctioned off limited-edition curling irons as her teenage son DJed behind her; demoed hair care products; and promised viewers she would shave her brother-in-law's head live on camera if they sold 500 orders. It was one of hundreds of livestreamed shows that Beachwaver does each year. About a quarter of its $1 million in TikTok Shop sales so far in 2026 originated from livestreams, where the company hosts its own selling shows and works with affiliate creators on the popular social media app. Reminiscent of the QVC craze of the past few decades, livestream shopping puts consumers in front of hosts who sell products in real time. Now, QVC is live on TikTok for more than 200 hours per week across seven channels, according to the company, as it prioritizes digital after recently emerging from bankruptcy. "QVC is a great example of a large established retailer that might have been seen as a competitor to TikTok shop … but in fact they have turned out to be a really successful merchant," said Patrick Nommensen, president of strategic initiatives for TikTok Shop in the Americas. Beachwaver got its start on QVC. TikTok and Whatnot have reinvented the wheel. "Nobody is saying, OK, you have 10 minutes at 7 p. m. and get ready and here's your 10 minutes and you're done," said Potempa. "You definitely need to be on longer on a digital platform, but you really are more in control of the revenue." The U. S. live shopping industry is forecast to reach nearly $20 billion in sales in 2026, about 35% higher year over year, according to eMarketer industry estimates.
Toyota's hybrid RAV4 is in demand as dealers wait for more supply
Livestream Menu Toyota dealers are struggling to keep the redesigned RAV4 in stock as strong demand collides with limited supply. When Toyota announced the new version of its popular SUV, it said that the RAV4 would only be available as a hybrid and that production would be limited at first and then steadily increase. The shift comes as more buyers are pivoting to hybrid vehicles due to gas prices that remain elevated. Not all of those open spaces would be filled with new RAV4s during normal times, but there certainly would be more, he said. Toyota's RAV4 has been a red-hot model over the past several years, with almost 480,000 sold in the U. It was the third best-selling model in the country in 2025 behind the Ford F-150 and Chevrolet Silverado, two full-size pickups that have been top sellers for years, according to Cox Automotive. When Toyota announced it would be rolling out new versions of the RAV4, two things stood out. First, the crossover utility vehicle would only be sold as a hybrid. Second, production would be limited at first and then steadily increase. In other words, there would not be the normal allotment of new RAV4s at dealerships. That has not stopped buyers like Nancy and Ira Berman of Danbury, Connecticut. When they ordered their RAV4 in March, they knew they would be waiting a while before they got their new SUV. "The wait was a slight annoyance," said Nancy Berman. "It didn't stop us from going and doing this because we do have our other Toyotas to drive." Six months after placing their order, the Bermans will soon get their new RAV4. For Toyota, the shift to an all-hybrid RAV4 lineup comes as more buyers are pivoting to those types of cars due to gas prices that remain elevated. In 2026, more than 18% of the vehicles sold in the U. S. have been hybrids, according to J. Power, still well behind the 75% of vehicles with internal combustion engines but above the 7% of pure electric vehicles. With dealers unable to stock their lots with new RAV4s and customers being told they will have to wait weeks or perhaps even months for a vehicle, it raises the question of whether Toyota could lose sales. S. sales in 2026 are still up 0.3% through July. Given the appeal of the RAV4, Caldwell said the impact of dealers having a limited supply is likely limited. "There are other vehicles within the Toyota lineup that consumers can go to," Caldwell said. "Toyota has a lot of brand loyalty, people who buy a Toyota usually stay with Toyota for many years not just one vehicle purchase but several.