NEW YORK (AP) – Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday, according to wealth tracker Bloomberg, as stock in his software giant rocketed more than a third in a stunning few minutes of trading.

NEW YORK (AP) – Shares of Swedish buy now, pay later company Klarna jumped sharply in its highly anticipated public debut on the New York Stock Exchange on Wednesday, the latest in a run of high-profile initial public offerings this year.

Excerpts from recent editorials in the United States and abroad:

CUPERTINO, Calif. (AP) – Apple on Tuesday rolled out its next generation of iPhones that includes a new ultra-thin model and a slight price hike for one of its high-end models, while the company feels the squeeze of a global trade war.

Elon Musk’s SpaceX has reached a deal worth about $17 billion with EchoStar for spectrum licenses that it will use to beef up its Starlink satellite network. The deal for EchoStar’s AWS-4 and H-block spectrum licenses includes up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock.

TOKYO (AP) – Japan’s economy expanded at a stronger rate in the fiscal first quarter than previously estimated, despite worries about U.S. tariffs and domestic political uncertainty, according to government data released Monday.

BEIJING (AP) – China’s exports grew last month but at a slower pace than in recent months, the country’s customs agency said Monday. Exports reached $321.8 billion in August, a 4.4% increase compared to the same month last year. That was down from a 7.2% jump in July. Meanwhile, imports totaled $219.5 billion, a 1.8% rise.

Tesla CEO Elon Musk could be in line for a payout of $1 trillion if his electric car company meets a series of extremely aggressive targets over the next 10 years. Tesla, which is leaning heavily into robotics and AI, said that the package included awards for Musk if targets, ranging from car production to the total value of the company, are met over that time period.