Tech billionaire Peter Thiel bought a large and historic mansion in Bel-Air for $130 million at a foreclosure auction. The estate, called Casa Encantada, is one of the most expensive homes sold in Los Angeles this year, and Thiel plans to use it as an investment, not his home.
Key Facts
Peter Thiel bought Casa Encantada, a 40,000-square-foot mansion in Bel-Air, for $130 million.
The sale happened at a foreclosure auction, with the buyer’s identity hidden until now.
The previous owner, Gary Winnick, asked for up to $250 million before his death in 2023.
The mansion sits on 8.4 acres and has seven bedrooms, 20 bathrooms, a library, tennis court, gardens, pool, and guesthouse.
Casa Encantada was previously owned by hotel founder Conrad Hilton and billionaire David Murdock.
Thiel does not plan to live in the house but sees it as an investment and wants to make upgrades.
Thiel has several properties worldwide, including in Hawaii, New Zealand, Miami, Washington DC, and Buenos Aires.
Thiel reportedly moved his main home from California to Florida due to debates about wealth taxes.
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Tesla sold fewer electric vehicles in the third quarter of 2026 compared to the same period in 2025, with a 2.1% decrease in total sales. However, Tesla’s production increased, and the company sold more energy storage products during this period.
Key Facts
Tesla sold 486,532 electric vehicles in Q3 2026, down 2.1% from 497,099 in Q3 2025.
The decrease in sales was smaller than analysts expected, so Tesla’s stock price rose.
Tesla produced 464,391 vehicles in Q3 2026, which is 3.7% more than the previous year.
Most production was Models 3 and Y (457,387 vehicles), which increased by 4.9%.
Other models, including the Cybertruck, saw a 39.8% drop in production.
Sales of Models 3 and Y fell slightly by 0.6%, while sales of other models dropped by 48%.
Tesla’s energy storage deployment increased by 9.6%, reaching 13.7 gigawatt-hours.
Tesla will release detailed financial results for Q3 on October 21, 2026.
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Amazon will invest $1 billion over five years in communities where it builds data centers. The money will support free community college, job training programs, and improvements to energy efficiency.
Key Facts
Amazon announced a $1 billion investment plan for data center communities.
The funds will be spread over the next five years.
Investments include free community college education for local residents.
Workforce training programs will help people gain new job skills.
Energy efficiency upgrades will be made in these communities.
The investment aims to benefit people living near Amazon’s data centers.
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Amazon is sending out payments to people in a large $2.5 billion settlement. More people now qualify to receive money, and there might be another round of payments next year.
Key Facts
The settlement amount is $2.5 billion.
More individuals are qualifying for payments from this settlement.
Amazon has started sending out these payments.
Another round of automatic payments could happen next year.
The settlement involves a large group of people receiving money.
This is part of an ongoing process, not a one-time payment.
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The chief executives of three companies that lease trains to Britain’s railways earned a total of £3.5 million last year while the companies paid out almost £400 million in dividends to shareholders. The government is considering buying trains directly through a public body, Great British Railways, instead of leasing them privately.
Key Facts
Three rolling stock companies (Roscos) paid their CEOs £3.5 million combined in one year.
These companies gave nearly £400 million to shareholders as dividends last year.
Porterbrook Holdings paid £80 million in dividends and paid CEO Mary Grant £1.44 million.
Eversholt Rail paid £200 million in dividends and its outgoing CEO Mary Kenny received £1.33 million.
Angel Trains paid £111 million in dividends and CEO Malcolm Brown £700,000.
Rail unions say these profits come at passengers’ expense and want the government to tax Roscos and cut fares.
The government is thinking about Great British Railways owning trains directly to save costs.
The rail companies say they invest heavily in trains and infrastructure and pay UK taxes.
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Mortgage interest rates for 30-year fixed loans in the U.S. have increased to 7.28%, the highest in almost three years. This rise is mainly caused by higher 10-year Treasury yields linked to energy costs and economic factors, making monthly home payments more expensive for buyers.
Key Facts
The average 30-year fixed mortgage rate reached 7.28% by late September, up from 7.03% the previous week.
Mortgage rates have increased six weeks in a row, climbing nearly 1% over the past year.
Higher mortgage rates have raised monthly payments by more than $200 for typical homebuyers.
Rising 10-year Treasury yields, which influence borrowing costs, hit their highest level since 2002 due to energy price spikes linked to the Iran war and increased corporate borrowing.
Inflation measured by the personal consumption expenditures (PCE) index showed some cooling, potentially easing rates slightly.
The U.S. added fewer jobs than expected in September, signaling the economy is not overheating.
The median price for a typical U.S. home in August was $424,500.
Homebuyers putting 20% down now pay about $213 more each month than a year ago due to higher mortgage rates.
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Hats with unique and playful designs are becoming popular again in fashion, appearing on runways and in everyday stores. These hats are seen as a way for people to show their personality and add interest to their outfits.
Key Facts
Celebrities like Jackie Kennedy popularized hats such as pillbox styles in the 1960s.
High-end brands like Loro Piana, Thom Browne, Chloé, and Burberry showcased creative hats in recent fashion shows.
These hats are called “personality hats” or “silly little hats” because they focus on style rather than just function.
Milliner Noel Stewart says hats express personality and intent, ranging from subtle to bold statements.
Personality hats are also being sold at more affordable stores like Asos and H&M.
John Galliano’s collaboration with Zara includes unique hats inspired by historical and whimsical styles.
Pillbox hats remain popular for a chic but effortless look, especially in places like Copenhagen.
Wearing distinctive hats requires confidence since they stand out compared to more common baseball caps.
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Firmus Technologies is building one of Australia’s largest AI datacentres in Tasmania and plans to raise $7 billion through an initial public offering (IPO) on the Australian Stock Exchange (ASX). The company faced criticism for poor community consultation and rapid growth in its valuation, which some investors say may not match its current stage or earnings.
Key Facts
Firmus Technologies is constructing a 104-megawatt datacentre in Launceston, Tasmania, valued at about $2.1 billion.
The Launceston datacentre received fast-tracked city approval without a public hearing in September last year.
Local residents, like Kayla Thompson, were upset at the lack of early communication about the project.
Firmus held more public consultation meetings after backlash from the community.
The company aims to raise $7 billion in an upcoming IPO, potentially the second-largest in Australian history.
Firmus’s valuation soared from under $2 billion to as much as $40-100 billion in less than a year.
Currently, Firmus operates only two datacentres but has plans for a large development pipeline.
Some investment managers warn the company’s projected earnings and valuation may be unrealistic given its early stage and need to keep raising money.
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Amazon is giving refunds to more customers under a $2.5 billion deal with the Federal Trade Commission (FTC). The FTC expanded who can get refunds and increased the maximum payment from $51 to $200 for certain Amazon Prime members.
Key Facts
Amazon agreed to a $2.5 billion settlement with the FTC over complaints about how it signed people up for Prime.
The FTC raised the refund limit from $51 to $200 and expanded eligibility to customers who used up to 20 Prime benefits in a year.
Customers who signed up for Prime between June 23, 2019, and June 23, 2025, and meet the benefit use criteria can get refunds.
Amazon had already refunded over $845 million by September and will issue $1.5 billion in total refunds plus a $1 billion penalty.
Refund payments started automatically and will be sent electronically through Venmo, PayPal, or by mail.
Customers don’t need to apply or fill out forms to get the refund.
Amazon must finish sending refunds by April 2027.
The FTC warns consumers that it will not contact them about the refunds, and scammers may try to pose as the FTC.
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Tesco is the first supermarket in the UK to offer paid "safe leave" for employees affected by domestic abuse. Staff can take up to three paid days off to get support and handle practical matters, without needing to provide proof of abuse.
Key Facts
Tesco employees can take up to three days of paid leave for issues related to domestic abuse.
This leave can be used flexibly, such as attending court, finding emergency housing, or securing childcare.
Managers at Tesco have been trained to recognize signs of domestic abuse and support affected staff.
Employees do not have to show formal evidence to use this safe leave.
The policy was created in partnership with the worker’s union Usdaw.
Other companies like BP and Vodafone have similar support programs.
More than 3 million people faced domestic abuse in England and Wales last year, mostly women.
Laws in Northern Ireland, Australia, New Zealand, and the Philippines provide paid leave for domestic abuse victims.
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The US economy added only 29,000 jobs in September, which is much less than the 90,000 jobs expected by economists. This slower job growth and revisions showing fewer jobs created in July and August have affected wages, the US dollar, and bond yields.
Key Facts
US nonfarm payroll employment increased by 29,000 jobs in September, lower than the expected 90,000.
July and August job numbers were revised down, showing fewer jobs created and even a loss of jobs in July.
Wage growth slowed to 3.0% annually in September, down from 3.1% in August.
The slowdown in jobs and wages may be linked to policy changes affecting 350,000 migrants' work authorization.
The US dollar dropped against the Japanese yen and the British pound after the report.
US Treasury bond prices rose, causing yields to fall from recent multi-year highs.
Wall Street stock futures suggested a rise, reflecting less worry about future interest rate increases.
Analysts say the weak jobs report presents a challenge for the Federal Reserve in managing inflation and employment.
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Maryland became the first state to ban supermarkets from using personalized dynamic pricing, which means stores cannot charge different prices for food based on data about the shopper. This law aims to stop stores from using algorithms to charge customers more for groceries, like milk, depending on who they are.
Key Facts
Maryland's Protection From Predatory Pricing Act started on October 1.
The law prohibits grocery stores from using personal data to set different prices for individual customers.
Dynamic pricing adjusts prices based on demand, supply, or customer behavior, often using computer algorithms.
Airlines and companies like Ticketmaster and Uber have long used forms of dynamic pricing.
Stores like Walmart are installing electronic shelf labels that make changing prices faster.
Walmart says its electronic labels don’t collect customer data or change prices automatically.
A study found 74% of grocery items had different prices for different users shopping at the same time on Instacart.
The Federal Trade Commission (FTC) is investigating pricing practices that use consumer data, called "surveillance pricing."
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Gordon Ramsay’s UK restaurants made over £100 million in sales last year but still had a loss of £5.8 million, smaller than the previous year. Globally, his restaurant group grew sales and profits, opening new locations in different countries and focusing on partnerships to expand.
Key Facts
UK sales rose to almost £101 million, but the business lost £5.8 million, less than the £9.4 million loss before.
The UK group includes 34 restaurants, such as Savoy Grill, Pétrus, and Lucky Cat.
Global sales increased 7% to £151.8 million, with profits rising 12% to £14.4 million.
The global group includes 103 restaurants, including those in the US, Middle East, and Asia.
The business benefited from the Netflix documentary "Being Gordon Ramsay" and new openings like the 100th restaurant at 22 Bishopsgate, London.
The company is focusing on profitability, controlled investment, and growth through partnerships and licensing deals.
Gordon Ramsay’s UK business was affected by the pandemic, leading to job cuts and losses, but has since improved.
The group did not pay dividends to shareholders this year.
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The article explains that American food companies often rely on many suppliers in their supply chain without fully knowing the risks involved. A recent Salmonella outbreak linked to jalapeños from Mexico shows how food contamination can spread quickly and impact many products and consumers.
Key Facts
Food supply chains for products like chili peppers involve many steps from seed to final shipment.
Each step, including farming, processing, and transport, has the potential for contamination or problems.
Adding many suppliers may increase risks because companies may not fully check or control each one.
A Salmonella outbreak in 2023 linked to jalapeños from one farm in Sinaloa, Mexico, affected 431 people in 32 states.
This outbreak caused recalls of many products containing jalapeños, such as salsa and guacamole.
Food safety requires careful testing of seeds, water, pesticides, processing, and worker conditions at every stage.
Qualifying one new supplier can cost $100,000 to $200,000 due to needed inspections and audits.
Complete records are essential to trace contaminated food back to its source quickly.
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The average price of diesel in the UK has reached over £2 per litre for the first time, driven by supply problems linked to the war in Iran and attacks on Russian oil facilities. US President Donald Trump is considering banning US diesel exports to keep fuel prices lower in the US, but this could cause prices in Europe, including the UK, to rise further.
Key Facts
Diesel price in the UK hit an average of 200.01p (£2.00) per litre for the first time.
Petrol prices in the UK also rose, reaching 174.71p per litre on average.
The Iran war has disrupted oil production and transport, raising fuel prices worldwide.
The average price of diesel in the UK has reached a record £2 per litre, increasing the cost for drivers and small businesses. This rise is linked to the war in the Middle East and related disruptions in oil supply, along with damage to refineries and reduced output from Russia.
Key Facts
Diesel price in the UK hit a record high of £2.00 per litre.
Filling an average family car now costs about £110, around £32 more than before the conflict began.
The price increase started after the US-Israel war on Iran disrupted oil supplies from the Gulf region.
Damage to refineries and lower production in Russia have further limited diesel supply globally.
Russia supplied 10-15% of the world’s diesel before the Ukraine war.
About 10% of global diesel passes through the Strait of Hormuz, which has been disrupted by Iran’s actions.
UK transport minister Keir Mather said there is no diesel shortage in the UK despite high prices.
President Donald Trump has warned the US may cut off diesel exports and is urging Ukraine to stop attacks on Russian refineries.
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Amazon plans to invest over $1 billion in communities where it has data centers in the U.S. This new program aims to support local needs like education, job training, energy and water conservation, and other priorities chosen by the communities themselves.
Key Facts
Amazon announced a $1 billion investment plan called "Built Together" for data center communities.
The investment will happen over the next five years.
Amazon Web Services CEO Matt Garman made the announcement.
The program focuses on education, job training, energy affordability, and water and energy preservation.
The initiative responds to concerns about data centers’ use of electricity, water, environmental effects, and closeness to where people live.
Communities involved will decide how the funds are used based on their priorities.
The plan is meant to build good relationships with the people living near Amazon data centers.
More updates are expected as this story develops.
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Feeld, a UK dating app focused on non-traditional relationships, saw a 24% rise in sales to £64 million, with nearly 90% of revenue coming from outside the UK. The company paid its founders a record £3.8 million dividend after profits increased, fueled by growth in users exploring alternative relationship styles.
Key Facts
Feeld targets people interested in non-monogamous, queer, and kinky relationships.
Revenues grew 24% to £64 million; pre-tax profits rose from £9.3 million to £11.4 million.
Founders Ana Kirova and Dimo Trifonov received a dividend of £3.8 million, the largest in the company’s history.
Nearly 90% of revenue came from international users, especially in Mexico, Spain, New York, Toronto, and Paris.
Feeld offers paid features like Majestic memberships and "pings" to enhance user experience.
The company fixed security issues in 2024 that could have exposed user data, confirmed no breaches occurred.
Match Group’s dating apps, like Tinder, saw declines, while Feeld attracted new users seeking alternative dating options.
Feeld also hosts in-person social events for its community, such as trivia nights and dating pitches.
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British singer Olivia Dean is being sued in California for allegedly copying the melody of Bill Withers' 1981 song "Just The Two of Us" in her track "I've Seen It." The lawsuit targets Dean's record label and publishers, claiming the songs share strong musical similarities, but does not seek damages from Dean herself.
Key Facts
The lawsuit was filed in California by the company managing Bill Withers' music catalog.
It accuses Olivia Dean's label Capitol Records, Universal Music Group, and publishing firms of copying the melody.
The disputed songs are Dean's "I've Seen It" and Withers' "Just The Two of Us."
A hired music expert found "substantial similarities" and repeated copying of the melody in Dean's song.
The publishers say they warned Dean's label in August but the song was not removed.
To prove plagiarism, they must show Dean and her co-writers likely heard Withers’ original song before writing theirs.
"Just The Two of Us" was a hit in 1981, charting high and winning a Grammy; Withers died in 2020.
Olivia Dean won the Best New Artist Grammy and her album topped UK charts in 2025.
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