latest news in economy
US Battery Energy Storage Capacity Reaches 52 Gigawatts Following Three Years of Rapid Growth
Washington, Wednesday, 12 August 2026.
US utility-scale battery storage capacity reached 52 gigawatts in June 2026 after expanding at a 70% annual rate. Developers plan to double national capacity by adding 54 gigawatts through 2028.
Norway's Wealth Fund Reveals $1.2 Billion Stake in SpaceX
Oslo, Wednesday, 12 August 2026.
Norway’s $2.3 trillion sovereign wealth fund revealed a $1.22 billion position in SpaceX, highlighting institutional confidence in commercial space exploration despite ongoing governance and valuation concerns.
Treasury Permanently Ends Ownership Reporting Rules for Domestic Companies
Washington, Wednesday, 12 August 2026.
The U.S. Treasury has permanently eliminated ownership reporting requirements for domestic small businesses and will delete previously collected data, significantly reducing regulatory burdens for millions.
American Charitable Giving Reaches Record High of $617 Billion
Indianapolis, Thursday, 13 August 2026.
In a landmark year for American philanthropy, total charitable donations crossed the $600 billion threshold for the first time in history, reaching $617.20 billion in 2025. According to the annual Giving USA 2026 report, overall giving expanded by 5.7% in current dollars despite ongoing economic uncertainty and persistent low consumer sentiment. The most intriguing force behind this historic surge was bequest giving—gifts left in wills—which skyrocketed by nearly 20% to reach $62.19 billion, outstripping all other growth categories. Supported by strong financial market performance that pushed individual contributions to $394.20 billion, these record numbers highlight a momentous shift as legacy gifts and wealth transfer continue to reshape the nation’s nonprofit landscape.