Financial News: Oct 12 - United States (5 stories)

Here is your Weekly summary for Business & Finance across United States for Mon 6th October - Sun 12th October 2025

President Trump has escalated tensions with China by threatening to impose a 100% tariff on all imports, alongside export controls on critical U.S. software. This move comes in response to China's restrictions on rare earth minerals, highlighting the ongoing trade conflict and its potential impact on global supply chains.

In the IPO space, corporate travel management firm Navan is pushing ahead with its public offering despite the government shutdown, targeting a valuation of $6.45 billion. Meanwhile, Brazilian fintech PicPay is reportedly seeking $500 million in its U.S. IPO, reflecting growing interest in tech-driven financial solutions.

In the prediction markets sector, Kalshi has reached a $5 billion valuation following a $300 million raise, just days after rival Polymarket secured significant backing from the NYSE. Additionally, SoftBank is negotiating a $5 billion margin loan backed by Arm stock, as it intensifies its investments in artificial intelligence. These developments underscore the dynamic shifts in both tech and finance sectors.