American news agency; editor-in-chief since 2015: John Micklethwait
Rivian has begun delivering the R2, its more affordable EV, with plans for a $50,000 base version by 2027. CEO RJ Scaringe argues the R2 will broaden choice and avoid copying rivals, while production scales in Illinois and Georgia expand capacity.
Major device makers have raised prices and warned consumers after memory and storage costs have surged because AI data‑centre buildouts are buying up DRAM and flash. Apple has increased Mac and iPad prices; Microsoft, Sony and Nintendo have signalled or implemented console and hardware hikes. Analysts say shortages will persist into 2027.
Prices for Xbox consoles and various Apple devices have surged as AI-driven demand strains memory and storage components, pushing manufacturers to raise prices by hundreds of dollars. The trend affects consumers globally as memory costs double and memory shortages loom. The changes come as several publishers report price increases from Microsoft, Apple and others amid an AI infrastructure boom.
SpaceX’s debut has sparked a wave of investor interest, but early gains have cooled as post-IPO volatility declines and market enthusiasm faces valuation questions amid AI hype.
Renewables now account for a growing share of global power, but Africa’s path requires building institutions to turn resources into reliable, affordable electricity. The Bloomberg Africa initiative and recent policy shifts show a push to remove bottlenecks in market design, grid access, and financing to unlock private investment and extend electricity to hundreds of millions.
The federal investigation into Union leader Shawn Fain has escalated as a grand jury probes allegations including retaliation and misuse of authority, with the monitor deferring disciplinary action pending review. The inquiry is unfolding as UAW elections approach.
Lucid Motors has denied bankruptcy or going-private reports. It says liquidity remains strong enough to fund operations into 2027, with AlixPartners reviewing the business to improve execution and focus on the Gravity SUV. The firm has undergone leadership and workforce changes amid ongoing restructuring.
This week has seen major moves in AI infrastructure financing and buildouts. SpaceX has released renderings for Terafab, a more-than-100-million-square-foot semiconductor factory it plans in Texas that it values at at least $16.8bn for the initial phase. Separately, Nvidia has been reported to be negotiating a $250bn guarantee to back OpenAI’s proposed 10-gigawatt Ohio data‑centre lease and construction debt.
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.
Ousted Bangladeshi premier Sheikh Hasina has said she will return to Bangladesh, insisting she must answer to her people. Speaking via videolink from New Delhi on the second anniversary of the 2024 uprising, she has pledged to confront the charges against her while Bangladesh seeks extradition and India says the request is under review. A memorial museum marks the uprising as Dhaka and New Delhi navigate a fragile reengagement.
State prosecutors allege Kalshi has offered prediction markets without a license, exposing New York residents to financial risk and evading taxes. The suit seeks to block operations in New York and restitution for affected customers, as regulators clash over federal preemption and state authority.
A federal judge has paused an order that would have forced the Donald J. Trump Revocable Trust to hand over detailed financial records to the BBC in a $10bn defamation suit. The stay will last while the court considers Trump’s request to amend his complaint to focus on personal reputational harm rather than business damages.
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.
Syria has signed a memorandum with Russia that will hand civilian control of Hmeimim airport and Tartus’ commercial berth to Damascus and convert military areas at both sites into joint Russian–Syrian training centres. The agreement follows 18 months of talks, sets a three‑month transition and preserves Russian access for naval and air transit duties.
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.
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.
Bloomberg reports officials are pushing for market structure rules and laws to govern emerging technologies, with a focus on ensuring the US maintains leadership and competitive edge.