American financial services giant, Boston-based bank holding company
Trump Accounts are launching with a $1,000 federal seed for babies born 2025–2028, with philanthropic and employer contributions expanding the program. Morningstar warns outcomes depend on ongoing contributions and owner behavior; leakage could erode gains. Companies pledge to match and push auto-enrollment to broaden reach.
IBM has reported a revenue of $17.2 billion for Q2, up 1% and below estimates, with infrastructure revenue down 7%. CEO Arvind Krishna says the shortfall reflects clients reprioritizing capex toward servers, storage, and memory ahead of price increases, while the company continues to invest in quantum and AI initiatives.
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.