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Federal Reserve chair Kevin Warsh has delivered his first Jackson Hole keynote, reaffirming the Fed's 2% inflation target while rejecting traditional forward guidance. He has warned that recent summer inflation readings do not show underlying improvement and has said the Fed will rely more on real-time data and task forces to guide policy as markets react to rising Treasury yields.
Zoox has received a temporary NHTSA exemption that allows it to charge fares for its purpose-built robotaxis and will start paid rides in Las Vegas on Aug. 10. The company can deploy up to 2,500 vehicles annually for two years under enhanced federal oversight while state and local approvals remain required for expansion.
A coordinated U.S.-Japan intervention in late July has only temporarily strengthened the yen. The currency has given back roughly half the gains from the operation and is trading near ¥159–¥160 to the dollar as of mid-August. Analysts say the yield gap between U.S. and Japanese debt and Japan's domestic policy mix are keeping downward pressure on the yen.
Rep. Max Miller has refused to withdraw from Ohio's 7th congressional race after his ex-wife accused him of domestic abuse and the House Ethics Committee opened an inquiry. Party leaders missed the deadline to replace him on the general-election ballot, and Democratic groups have moved to boost challenger Brian Poindexter with millions in ad spending.
New York City’s pied-à-terre tax is under court challenge after a Staten Island judge temporarily halted its rollout. Mayor Mamdani defends the policy as a revenue tool while President Trump has called for federal intervention. The city plans an appeal, arguing the pause threatens time-sensitive implementation.
The labor market has a mix of resilience and weakness. Job openings remain elevated in some sectors while hiring slows overall, with unemployment near 4.1% to 4.2% and labor-force participation at historic lows for this cycle. New data suggest a stubborn, low-hire economy as rates stay high and uncertainty persists.
Wall Street and large investors have committed hundreds of billions to finance AI build-outs while equity indexes have hit record highs and volatility measures sit near year-to-date lows. That borrowing has pushed corporate credit costs higher and left highly leveraged players exposed: Situational Awareness has suffered a 67% one-month loss and sold much of its public book to Citadel.
SpaceX has entered a new phase of lockup expirations, widening the pool of shares eligible for trading. Investors face more potential selling as early insiders convert paper gains into real profits, while stock volatility persists amid ongoing AI and capital expenditure plans.
The cyclospora outbreak linked to iceberg lettuce has weighed on U.S. salad chains and suppliers. Sweetgreen and Salad and Go have cut outlooks or filed for bankruptcy amid consumer fears, while Taco Bell is recovering from earlier sales shocks. Recall activity spans Mexico and 27 U.S. states, with health officials tracking the outbreak across the country.
President Trump has signed an executive order directing federal health officials to cut the federal recommended childhood vaccine list, to split the combined MMR vaccine into separate measles, mumps and rubella doses once single‑disease products are available, and to space routine immunisations across separate medical visits. Public health groups and drugmakers have said the changes lack scientific support and will increase missed vaccinations during a major U.S. measles outbreak.
A roundup of recent reports shows Americans face higher living costs and tighter budgets. Survey data indicate many households lack emergency savings, while inflation remains above the Fed's target. Analysts warn about potential changes to Social Security COLA and the long-run funding of the program.
Nvidia has enlisted six Wall Street firms to finance a $500 billion buildout of AI infrastructure, treating compute as a new asset class. The plan centers on financing data centers and GPU clusters for customers unable to pay upfront, with OpenAI-related projects and neoclouds in focus. Executives cite long-term value and revenue generation, while cautions focus on depreciation risk and China’s potential price competition.
The Intercept and Freedom of the Press Foundation have sued in federal court to block Truth Social’s Truth API, arguing the paid feed gives traders preferential access to the president’s market-moving posts and that selling prioritized access to official announcements violates the First and Fifth Amendments. Trump Media says the product is standard industry practice; the company has already signed institutional customers and reported large quarterly losses.
FIFA president Gianni Infantino is facing a renewed crisis as multiple football confederations have pulled endorsement ahead of the 2027 re-election. While CAF and CONMEBOL continue to back him, UEFA, CONCACAF and AFC have joined calls for accountability after the aborted plan to privatize World Cup revenues. Trump has publicly backed Infantino, calling replacing him a terrible mistake.
Tech giants and startups envisage a future where data centers orbit Earth. Insurers question pricing and risk; space debris and regulatory hurdles loom as hundreds of billions of dollars in hardware move into space.
Champagne’s harvest has moved earlier this year due to record heat and drought, with producers starting in mid-August instead of mid-September. Grapes show higher sugar and risk to acidity; producers are adapting by earlier picking, night harvesting, and exploring irrigation research. Yields are expected to fall, but quality remains crucial as climate pressures accelerate.
Instagram head Adam Mosseri has testified in a federal trial in Oakland where 29 US states accuse Meta of designing addictive features that harm children and violating child privacy laws. States are seeking large damages and structural changes; prosecutors have shown internal documents and low adoption of safety tools. Mosseri defended improvements and said some tools initially had low uptake.
Bob Iger and Josh Kushner have agreed to buy the Los Angeles Lakers from Mark Walter in a transaction valuing the franchise at about $12.5 billion. The sale has been announced this week, requires approval from the NBA Board of Governors and is subject to due diligence and Kushners divestment of a Miami Heat stake.
Karoline Leavitt has announced she will leave her role as White House press secretary at the end of August to spend more time with her two young children. President Donald Trump has said she will remain a top outside adviser; the White House has not named a successor and senior officials are expected to brief reporters temporarily.
Russian president Vladimir Putin has visited Iturup (Etorofu) in the disputed Kuril Islands, watched Pacific Fleet naval drills including live-fire missile launches, and toured a fish-processing plant, hospital and school. Japan has summoned the Russian ambassador and Prime Minister Sanae Takaichi and Foreign Minister Toshimitsu Motegi have called the visit "absolutely unacceptable," reaffirming Tokyo's claim to the islands.
Iran seeks membership in BRICS’ New Development Bank to diversify funding amid sanctions and war pressures. Tehran aims to use regional currencies for trade and to secure financing for infrastructure as it faces economic strain.
Luigi Mangione has pleaded guilty in Manhattan federal court to two stalking charges tied to the December 2024 killing of UnitedHealthcare CEO Brian Thompson. His lawyers have immediately asked a New York state judge to dismiss state murder charges on double jeopardy grounds. Sentencing in the federal case is scheduled for Dec. 18; a state trial had been set to start Sept. 8.
The White House has announced tariffs on drones and components to boost domestic production and safeguard national security. Drones with sensitive capabilities face a 100% levy, while smaller drones face 25%. The move, part of broader defense plans, has boosted drone-related stocks as investors weigh the shift toward onshoring U.S. manufacturing.
Russia has launched overnight strikes on Ukraine’s Izmail port infrastructure along the Danube, injuring civilians and damaging a Togo-flagged vessel. Ukraine and Russia report targeting military cargo in the port area; attacks follow a broader wave of drone and missile activity across the region.
Berkshire Hathaway has increased its Alphabet stake to about 106 million shares—valued near $37.8 billion as of June 30—while expanding in Delta Air Lines and Lennar, and trimming holdings in several financial stocks. The shift comes under CEO Greg Abel, with Warren Buffett remaining involved but not dictating every move. The quarter also shows Berkshire’s cash pile declining as it deploys capital.
Tropical Storm Lala has strengthened into a Category 1 hurricane and has lashed Hawaii’s Big Island with heavy rain and strong winds, causing at least one death, widespread power outages and property damage. A second system, Moke, has formed south of the islands with tropical-storm‑strength winds and will bring additional heavy rain.
A magnitude-7.7 earthquake has struck off Flores island in East Nusa Tenggara, Indonesia, and rescue teams have recovered dozens of bodies and treated hundreds of injured. Authorities have recorded hundreds of aftershocks, lifted an initial tsunami warning after tide gauges showed limited sea-level change, and declared a 14-day state of emergency as landslides and damaged roads are slowing aid deliveries.
Ukraine has targeted long-range facilities in Russia, including the Progress Center in Samara and an air base in Savasleika, using domestically produced Flamingo missiles. Kyiv says the strikes aim to reduce Russia’s war capacity and bring the conflict closer to Moscow, with reports of fires and damage at multiple sites.
Romania’s defense ministry says a maritime drone near the Neptun Deep gas project has been destroyed after two F-16s engaged it. The incident follows prior drone activity in the Black Sea and Russia-linked tensions surrounding Romania’s critical EU gas infrastructure.
Japan’s real GDP has grown at a 0.3% quarter-on-quarter pace in Q2, with annualized growth of 2.1%, driven by exports and government spending. Private spending has slipped, while energy costs and the Iran war have pressured prices. The Bank of Japan maintains a cautious outlook as wage growth remains tepid.
OpenAI is accelerating its Ohio data-center project with backing from Nvidia and SB Energy. The agreements would add up to 10 gigawatts of compute capacity by 2028, supporting thousands of jobs and a large-scale power and grid investment. Details vary across reports from Bloomberg and CNBC.
President Trump has announced what he called the "most crushing economic operation ever" against Iran, warning any country or company that provides a lifeline to Tehran will face "tremendous economic consequences." Treasury officials have signalled stepped‑up secondary sanctions while Iran has warned it will hit back; markets have reacted with higher oil prices and weaker US equities this week.
Six armed pirates hijack the Eritrean-flagged MT Sibu 1 east of al-Mukalla, Yemen, steering toward Somalia’s Puntland coast. The incident marks the latest in a string of hijackings by Somali pirates since April, with concerns rising over extended reach and security along the Red Sea and Gulf of Aden. Puntland deploys coastal forces and condemns near-coast strikes; the IMB recorded 38 piracy incidents in H1 2026.
CBRE data shows New York has the most tech talent, edging out the San Francisco Bay Area for the first time. AI roles drive hiring and office leasing in major markets, with New York, San Francisco, Seattle, and Toronto leading in AI jobs.
Bitcoin has moved higher, aided by a surge in crypto stocks after the Treasury Department signs a plan to double debt buybacks. The rally has buoyed Bitcoin toward the low $70,000s, but remains below the mid-January and all-time highs. Democrats and Republicans debate regulatory scope as the Clarity Act looms, with the market awaiting further clarity.
Citadel has shed over 80% of the risk from the Situational Awareness portfolio it acquired in a rapid, high-volume unwind. The Wellington fund posted a 5.94% return in July as AI bets rebound, while the broader AI stock complex remains volatile.
Anthropic could seek a blockbuster IPO valuing the company at around $2 trillion, potentially the largest ever, as it expands its compute-heavy infrastructure. The deal flow includes partnerships with SpaceX, Google, Broadcom, and others to meet demand for Claude and future models, while investors weigh macro uncertainty.
Canada has suspended trade talks with the United States after last‑minute changes to a proposed deal, and Prime Minister Mark Carney has said Canada will match new 50% US tariffs "dollar for dollar". Washington has imposed duties on about $20bn of Canadian goods; both sides blame the other for collapsing talks.
Ukraine has expanded its drone campaign against Russia’s e-commerce sector, targeting Ozon in addition to Wildberries. Attacks have disrupted logistics hubs in several regions, prompting evacuations and halting operations at Ozon’s Samara center. Moscow and Kyiv trade statements as the campaign intensifies, with analysts watching the wider impact on Russia’s economy.
The Supreme Court has lifted one lower‑court injunction that had blocked parts of President Trump’s March executive order on mail ballots, allowing federal agencies to finalise rules. A separate nationwide injunction from a Boston judge still bars the Postal Service from implementing new mail‑ballot procedures for the Nov. 3 midterms while states and voting‑rights groups press fresh lawsuits.
The UK government has confirmed that Iranian-linked hackers targeted a small-scale energy generator last month. The incident did not threaten the wider energy system, and authorities have issued guidance to power firms while expanding cyber resilience plans, including an AI-powered shield for critical infrastructure.
Alibaba has priced an HK$80 billion share placement, issuing 710 million new Class B shares at HK$112.70 each to non-U.S. investors. The deal values the company at about US$27 billion and will fund expansion of its AI capabilities and infrastructure. The move comes after a 75% profit drop in the June quarter and a sharp rise in capital expenditure.
Ukraine has expanded drone strikes against Russia’s e-commerce logistics, broadening from Wildberries to Ozon. Attacks have damaged multiple Ozon hubs across Dagestan, Krasnodar, Adygea and nearby regions, sparking evacuations and sharp declines in Ozon shares. Analysts say the campaign is aimed at disrupting Russia’s fragile wartime economy.
Cash purchases have cooled as mortgage-financed buyers gain ground amid higher rates and more inventory. Across the US and UK, cash share is contracting, while prices show modest gains in some markets. Analysts say confidence is returning, but buyers still face affordability constraints and longer timelines.
TWG Global, led by Mark Walter, faces federal investigations into affiliated-party loans within its insurance units. A spate of statements from TWG insists there is no fraud, while reports tie Walter to a growing web of sports franchises and high-profile deals, including the Lakers sale. Regulators are examining whether related-party transactions were properly disclosed.
Xi Jinping has scheduled state visits to Egypt and likely India, ahead of a planned September trip to the United States. The trips, part of a broader push to expand China’s global role, follow recent high-level exchanges and a busy schedule centered on non-Western alliances.
The White House has renewed its effort to remove Federal Reserve Governor Lisa Cook over mortgage‑related allegations. Cook has responded with a formal filing arguing there is no legal basis for her removal; the Supreme Court previously blocked a firing attempt and left room for due process.
Qantas has reported an underlying profit before tax of A$2.06 billion for the year to 30 June, with higher fuel costs weighing on earnings. The carrier says demand remains strong and will push to maximise revenue, including exploring more fleet upgrades and ancillary charges through Jetstar. Jetstar is expanding ancillary revenues as part of a broader profitability push.
Massive floods across Nepal and Tibet have killed dozens and left hundreds missing. Rescue efforts are underway, with thousands of troops deployed and international aid flowing in as authorities warn of continuing danger from dammed lakes and downstream river surges.
Signatories from OpenAI, Anthropic, Google, Microsoft and other leaders have warned there is a limited window to strengthen cyber-defences against AI-powered attacks. The open letter urges coordinated government action, funding for cyber defence, and wider access to capable defensive AI for critical infrastructure, as attacks on hospitals, water systems and airports rise.