Stories from Thursday, November 12, 2026

• Trump threatens to immediately double tariffs on Mexico if it does not stop migrant caravans

  Mexican President Claudia Sheinbaum said no caravan has reached the U.S. border since Trump returned to office, and that an earlier one dwindled from as many as 600 people to fewer than 100.

  Politics · Nov 12, 2026, 8:45 PM EST · James Mitchell

• Microsoft says Outlook is down for business and consumer users

  A Microsoft spokesperson said the company is investigating issues with Microsoft 365 services, primarily Exchange Online, and is working to restore service. Amazon said its own services were operating normally.

  Equities · Nov 12, 2026, 7:51 PM EST · Marcus Rodriguez

• SpaceX and Tesla are said to be progressing in merger talks, with a deal possible as early as December

  The companies have also discussed an announcement slipping into early 2027, and boards and advisers are negotiating price and control. SpaceX and Tesla could not be immediately reached for comment.

  Equities · Nov 12, 2026, 7:15 PM EST · Marcus Rodriguez

• Jane Kim plans 70% and 65% insurance loss ratio minimums

  She declared herself the winner after Ben Allen called to concede on Nov. 6, and her campaign proposes minimum loss ratio standards of 70% for auto and 65% for homeowners insurance.

  Politics · Nov 12, 2026, 6:54 PM EST · James Mitchell

• Jensen Huang resigns as Nvidia CEO, and Colette Kress is named interim chief

  President Donald Trump wrote on Truth Social that Tim Cook is the person to replace Huang. Kress remains interim CEO while the board searches, and the company's 8-K says the board accepted the resignation on November 11.

  Equities · Nov 12, 2026, 4:40 PM EST · Marcus Rodriguez

• Trump says ‘we don’t need a deal with Iran’

  The president wrote that those days have long since passed and directed Vice President JD Vance to focus on Democratic cities and states instead.

  Macro · Nov 12, 2026, 2:00 PM EST · James Mitchell

• Existing-home sales fall to the lowest level since August 2010

  Sales of previously owned homes fell 5.5% in October to a seasonally adjusted annual rate of 3.75 million, the National Association of Realtors said.

  Macro · Nov 12, 2026, 1:46 PM EST · James Mitchell

• Two senators are right to ask HHS about bets on clinical trials and FDA approvals

  Their letter covers Kalshi contracts in the United States and Polymarket contracts on an international exchange. Kalshi said it limited the markets when it launched them in July.

  Opinion · Nov 12, 2026, 12:43 PM EST · Connor O'Brien

• Burberry's comparable retail sales rise 4%, extending its growth streak to five quarters

  Chief Executive Joshua Schulman described the environment as uncertain. H1 revenue rose 6%, and adjusted operating profit was £62 million.

  Equities · Nov 12, 2026, 12:20 PM EST · Marcus Rodriguez

• YETI cuts its 2026 adjusted sales outlook to about 6%

  Chief Executive Matt Reintjes said a cautious consumer environment is expected to put pressure on fourth-quarter demand. The company also lowered its adjusted earnings outlook.

  Equities · Nov 12, 2026, 9:45 AM EST · Marcus Rodriguez

• OpenAI's quarterly revenue hits $10 billion, while its losses reportedly widen

  The CFO put the revenue on the record. The loss figures come from the Wall Street Journal's reporting on investor documents.

  Startups · Nov 12, 2026, 9:30 AM EST · Robert Harrison

• MSCI will drop Strategy from its USA index at the close of Nov. 30

  The change also removes the company from two other U.S. MSCI indexes. Strategy has said funds tracking MSCI's global indexes hold about 3.1% of its shares.

  Crypto · Nov 12, 2026, 9:20 AM EST · Jennifer Walsh