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Iran devalues currency amid conflict

BAGHDAD — Iraq devalued its currency Wednesday, changing the official exchange rate from around 1,300 Iraqi dinars to the dollar to 1,500 dinars to the dollar. The country’s central bank said in a statement that the new exchange rate had been decided at a meeting of Iraq’s Cabinet the night before “to meet the relevant financial, economic and monetary requirements.” The previous exchange rate was set in 2023. In practice, there has always been a gap between the official rate and the market rate used by exchange shops. That gap had widened in recent months as a result of the ...

Ticker: Wall Street retreats from its record as stocks fall

U.S. stocks pulled back from their record. The S&P 500 slipped 0.2% Wednesday, a day after topping its prior all-time high set in August. The Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite fell 0.2%. Stocks felt pressure as yields climbed worldwide because of high inflation, rising debt loads for governments and other concerns. In France, whose bond market has had some of the world’s sharpest swings, the CAC 40 index of stocks dropped 1.2%. Oil prices also swung through the day, and the price of a barrel of Brent topped $102 before pulling back toward $100. IMF ...

Paramount completes its takeover of Warner Bros

CHICAGO — It’s official: Skydance-owned Paramount closed its $81 billion takeover of Warner Bros. Discovery on Tuesday, ushering in a new Hollywood giant. The merger brings two of America’s oldest moviemaking studios together under a new name: Skydance. The deal, which followed a ...

Briefcase

Giant, Martin’s expand wellbeing services The Giant Co., known locally as Giant and Martin’s, announced an expansion of its wellbeing services to support customers taking GLP-1 medications. Through personalized nutrition guidance, pharmacy expertise and wellness resources, the offering helps customers build healthy habits, achieve sustainable results and improve their overall health. According to a July 2026 Gallup National Health and Well-Being Index survey, about 11% of U.S. adults reported actively using a GLP-1 medication for weight loss in 2026, up from just 3% in 2024. ...

Borrowers have time to reduce rates

NEW YORK — Student loan borrowers now have until the end of 2026 to enroll in auto pay and have their interest rate reduced by 1%. The original deadline was Sept. 30, but the U.S. Department of Education extended it to give borrowers more time to enroll. The rate reduction will last through June 2028. Borrowers who currently use auto pay already receive an interest-rate discount of 0.25%, so the new reduction takes off just 0.75%. This temporary benefit is meant to support borrowers, along with those who are returning to repayment, and ensure they can stay on top of the new ...

Ticker

US stocks rise to a record on expectations The U.S. stock market hit an all-time high as expectations rise for companies to keep making more money. The S&P 500 climbed 0.6% Tuesday and topped its prior record set in August. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite tacked 0.4% onto its own all-time high set the day before. Constellation Energy helped lead the way after announcing a long-term deal to provide Google with electricity. Lamb Weston jumped after becoming the latest U.S. company to deliver a fatter profit than analysts expected. Stocks also got ...