New US attacks on Iran send oil higher. Xi visits the Middle East for the first time in a decade. And 5,000 American sailors head to a Thai beach resort. Listen to the day’s top stories.

Oil prices have climbed and Asian shares have wavered as recurring violence in the Iran war heightens uncertainty over the future of the conflict

Trump announced oil deal with Venezuelan, claims it will bring gas prices down. Gas prices at "highest level ever recorded this late in the calendar year." Oil prices surged ahead of Labor Day as the United States and Iran resumed trading fire — and saber rattling,

Energy and gas prices are up again after the U.S. resumed strikes on Iran. CBS News' Kelly O'Grady has more on the economic outlook.

Samir Kapadia discusses the strategic implications of the U.S. securing oil concessions in Venezuela. He explains how the deal helps the White House counter influence from China and Russia while refilling domestic reserves.

President Donald Trump’s White House has called it the “biggest oil deal in history:” An agreement with Venezuela for the US to take control of more than 65 billion barrels of the nation’s crude reserves.

It is unclear how quickly the Venezuela deal could provide oil for the reserve or deliver any near-term benefit to U.S. motorists.

The US government and an unnamed private operator in Venezuela formed a new company that was given the rights to untapped oil fields for 100 years.

Shein’s shares fell on its Hong Kong debut after years of failed attempts to list elsewhere. WSJ’s Stu Woo explains the challenges facing the Chinese fast-fashion giant and what’s fueling the city’s IPO boom.

Shein’s path to the public markets has never been easy. The Chinese-founded, Singapore-domiciled company originally wanted to list in New York and then London, but found the politics in both markets too hot to handle.

The fashion retailer lost 10% of its $26.3 ​bln market worth minutes ​after its Hong Kong debut. Even ⁠that requires optimism about ​revenue growth and margin improvement, ​which look hard to stomach after a 75% drop from its peak ​valuation.

Shares in fast-fashion online retail giant Shein have begun trading on Hong Kong’s stock exchange after a long delay

USMCA-compliant firms now face higher tariffs than competitors that built in Shenzhen as Section 338 duties stack on top of the trade agreement's rates.

At gathering of G20 finance ministers, the Treasury secretary accused Canada’s prime minister of starting a “political shouting match” over U.S. trade policies.

Canadian Prime Minister Mark Carney vowed “dollar-for-dollar” tariffs in response to the United States’ 50% tariffs on $20 billion in Canadian goods after the two sides failed to reach a trade deal. Carney’s tit-for-tat measures,

The U.S.-Canada trade standoff is threatening to stretch past the midterm elections. The White House is shrugging off the threat. With a week to go before Canada imposes its retaliatory tariffs — aimed at key industries in states like Ohio and Texas with competitive Senate elections — tensions between Washington and Ottawa are at a steady simmer,

Russian President Vladimir Putin and Chinese President Xi Jinping shake hands during a meeting on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek, Kyrgyzstan, August 31, 2026.

Vladimir Putin said digital innovations, particularly AI, were creating new opportunities for Russia's economic development.

The two leaders' meeting took place in a "friendly and constructive atmosphere" and focused on bilateral Russian-Chinese ties, Kremlin spokesperson Dmitry Peskov said.

Vladimir Putin and Xi Jinping are set to meet in Bishkek on August 31 as Russia faces fresh economic pressure from the Ukraine war. Their partnership remains strategically important, but the balance has tilted further toward Beijing.

Private-equity giant KKR has owned USI Insurance since 2017.

Aon on Monday agreed to acquire insurance brokerage USI from private equity firm KKR for around $17 billion in cash. Why it matters: This will help Aon, one of the world's largest professional services firms,

Aon will buy rival USI Insurance Services in a $17 billion deal from private equity firm KKR, the insurance brokerage said on Monday.

Aon has agreed to buy USI Insurance from private equity firm KKR for USD17 billion ($23.7 billion), expanding its offering to mid-sized US businesses. USI is the 10th-largest insurance broker in the US.