Colbert Cancellation Exposes the Perilous State of Late-Night TV

A Chinese quantum computing startup called SpinQ predicts that within the next five years, quantum computers will hit a major milestone—becoming genuinely useful for solving real-world problems. They believe machines with around 500 qubits (the quantum equivalent of classical computing bits) will make this possible. SpinQ, based in Shenzhen, already makes small-scale quantum computers for education and industrial use, though their current models max out at 20 qubits.

Editor’s Note: Quantum computing has long been stuck in the "cool but not practical" phase, but SpinQ's forecast suggests we're closer than ever to breakthroughs that could revolutionize fields like medicine, finance, or logistics. If they're right, this isn't just academic—it could mean faster drug discovery, unbreakable encryption, or smarter supply chains in the near future. For now, though, the tech is still in its awkward teenage years.

Amazon quietly increased prices on hundreds of everyday essentials—like toilet paper, detergent, and pantry staples—despite earlier promises to keep costs low for budget-conscious shoppers. Meanwhile, Walmart has been slashing prices on similar items, putting Amazon’s strategy in stark contrast with its biggest retail rival.

Editor’s Note: For shoppers already squeezed by inflation, Amazon’s price hikes sting—especially since they come right as Walmart doubles down on affordability. It’s a reminder that corporate pledges don’t always hold up, and competition (or lack of it) can quietly shape what we pay for basics. If you’re bargain-hunting, it might be time to check other carts.

Australia's Abacus Storage, a major player in self-storage real estate, is opening its books for due diligence after receiving a hefty $1.4 billion takeover bid. This means serious talks are underway, and the potential buyer is getting a closer look at the company's finances before sealing the deal.

Editor’s Note: Big-money buyouts like this signal confidence in Australia's real estate sector, especially in niche markets like self-storage. If the deal goes through, it could reshape competition in the industry—and possibly mean changes for customers down the line. For investors, it’s a sign that even specialized property assets are attracting major attention.

Rightmove, the UK’s largest property website, says house prices dropped more than usual for this time of year—the biggest July decline they’ve ever recorded. Sellers are cutting asking prices as higher mortgage rates cool buyer demand, though the market’s still pricier than pre-pandemic levels.

Editor’s Note: If you’ve been waiting for a break in the housing market, this might feel like a small opening—but don’t pop the champagne yet. While prices are dipping, they’re still stubbornly high overall, and rising mortgage costs mean affordability isn’t exactly improving. For sellers, it’s a reality check; for buyers, it’s a glimmer of hope in an otherwise tough market.

Wealthy shareholders of Chinese companies are increasingly looking to Hong Kong as a hub for setting up family offices—private wealth management firms that handle their fortunes—after taking their businesses public. According to Wang Fengyu of Oakwise Capital, which manages up to $2 billion in assets, demand is surging, with multiple clients this week alone seeking advice on family office services.

Editor’s Note: Hong Kong’s appeal as a financial hub is getting a boost from mainland China’s wealthy, who see it as a stable and well-regulated place to park their fortunes. With a wave of new listings in the city, more entrepreneurs are cashing in and looking for ways to manage their wealth—good news for Hong Kong’s asset managers and its broader financial sector.