Business

Shares of Tesla and SpaceX dropped after the Democratic party swept to power in America's midterm elections. Their founder, tech titan Elon Musk, poured over $440 million into Republican candidates and causes, the single biggest campaign donor in the election cycle. But his investment fell flat, as his preferred candidates lost races in Texas, where he has put down roots. We take a closer look.

Investors shunned AI stocks and turned to government bonds on Wednesday in the wake of the Democratic Party's takeover of Congress in the US midterm elections. Oil prices meanwhile ticked slightly higher, as uncertainty remains over the direction of US President Donald Trump's war against Iran. Also in this edition, we focus on the central issue of this midterm campaign: the rise in the cost of living.

As US voters cast their ballots in the midterm elections, the economy remains their top concern. Despite robust headline macroeconomic data, middle-class Americans are growing increasingly frustrated with the rising cost of living. Meanwhile, US President Donald Trump's tariffs have hit small businesses hard, leading to a significant rise in bankruptcies. Our reporter Cristobal Vasquez met with some business owners.

This Tuesday, Californians are voting on a landmark plan to impose a one-time tax on billionaires to fund the state's healthcare system. We take a closer look. Also on the show: global oil prices fell sharply on the eve of the US midterm elections. This came after Iran said it was holding intensive talks through mediators towards negotiating peace and signalled that it was ready to reopen the Strait of Hormuz if the US accepted its conditions. Both Brent and WTI fell by around 8 percent.  This programme aired on November 2, 2026.

Saudi Arabia's state-owned oil giant saw its profits rise to $36.25 billion in the third quarter, despite seeing its infrastructure and even headquarters targeted by Houthi rebels. Elevated oil prices have offset the supply disruption caused by the Iran war. Also in this edition: North Korea denies any involvement in the largest-ever crypto heist and we take a look at how Russia's strikes against Ukraine are destroying what's left of its economy.