Legal insights platform combining Bloomberg Law News with Bloomberg Industry Group content
The latest updates show a widening gap between President Trump’s crypto push and investor outcomes. Strategy has sold Bitcoin, the Trump-backed memecoin plummets from its peak, and Trump Accounts are live but unclear in impact. Regulators and markets are reacting as billion-dollar losses mount for ordinary buyers.
OpenAI has said its unreleased model Astra may have reached a "Critical" capability for autonomous cyberattacks and has paused internal activities that do not meet heightened safeguards. The company has implemented isolated testing, universal monitoring for risky actions, and is working with government agencies and safety organisations to evaluate Astra's abilities.
Barclays’ former chief Jes Staley has testified before the House Oversight Committee as questions mount over his long-standing ties to Jeffrey Epstein. Regulators had previously banned him for mischaracterizing those ties, and new disclosures are raising questions about how Barclays and JPMorgan Chase handled information on Epstein’s relationship with Staley.
A wave of hiring practices is shifting as AI-enabled tools face increased verification through in-person steps. Surveys and industry reports show employers are embedding hands-on tests and interviews to counter AI-driven fraud, while some firms still allow AI-assisted elements.
Amazon's AWS has posted a 37% revenue gain for the June quarter, outpacing expectations and contributing to a broader revenue beat for the company. Net income rose sharply, while overall sales reached about $200.6 billion as AWS drives profitability and future AI initiatives.
Meteorological agencies and the UN have reported a very strong El Niño that has continued to intensify in August 2026. Forecasts show record-warm Pacific sea-surface temperatures, rising global heat and an elevated risk of droughts, floods and food insecurity that will push tens of millions more people into acute hunger this year and next.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.
Rheinmetall has revised its revenue guidance for 2026 to as low as €13.7 billion, down from €14.0 billion, while maintaining its operating margin. The company reports a 39% rise in first-half sales and a 74% jump in profits, with new naval division contributing to growth; investors weigh valuations amid strong orders and potential shifts in government spending.
Lilly has filed six lawsuits targeting online sellers and clinics marketing retatrutide, a GLP-1 drug still in Phase 3 trials for obesity and diabetes, while US authorities report a surge in illicit shipments. The company says products sold online are unverified and unapproved, and warns of substantial health risks.
Mark Zuckerberg has published a manifesto arguing AI should be widely accessible and accompanied by personal AI agents. Meta launches Muse Glimmer, a downloadable AI model, and outlines safeguards and privacy protections while signaling a shift toward distributed power and entrepreneurial opportunity. The piece synthesizes perspectives from other tech leaders and frames the debate around control, jobs, and governance.
Bloomberg reports Warner Bros. shares have risen in recent sessions, narrowing the gap to Paramount’s $31 offer to about $3 after a rebound from a July spread that peaked above $5 amid state antitrust actions.
The Times of Israel reports Team8 has secured a fresh funding round led by global investors, expanding its assets to nearly $2 billion. The third venture fund will invest in Israeli-founded AI startups across cybersecurity, software infrastructure, fintech and digital health, with additional dollars allocated to follow-on investments.
Flock Safety has announced mandatory changes to its national license-plate camera network after reporting dozens of US officers misused the system. The company has shortened default data retention from 30 days to seven, will require case codes for searches and will force all customers to enable an audit tool that can lock out flagged users.
Paramount has secured global competition clearances for its merger with Warner Bros. Discovery, but a U.S. antitrust lawsuit led by California’s attorney general remains unresolved and could delay closing. The deal has won approvals in 66 jurisdictions, while U.S. federal approval is in place.
The Justice Department has reached a $400m settlement with TikTok and related entities over alleged violations of the Childrens Online Privacy Protection Act. TikTok will pay $300m immediately and another $100m after a court vacates a 2019 consent decree tied to Musical.ly. The deal resolves a 2024 DOJ suit and includes stronger youth safeguards, the department says.