A metonym for the U.S. financial markets and the heart of New York's financial district.
Global government bond yields have risen to multi‑year highs this week after renewed US–Iran fighting pushed Brent crude toward $90–$97 a barrel and revived inflation fears. Investors have dumped long‑dated sovereign debt from the US to the UK and Japan, forcing governments to pay sharply higher borrowing costs and pushing mortgage and corporate funding rates up.
Industry leaders warn that AI infrastructure investments have sparked a ferocious race among hyperscalers. Earnings calls show wide investor scepticism about when returns will materialise, even as compute demand remains strong.
The latest U.S. inflation readings show persistence above the Fed’s 2% target while growth softens in Q2. Consumer spending remains resilient, but higher borrowing costs and energy prices complicate the outlook as policymakers weigh future moves.
Existing-home sales have fallen by 1.7% to a 4.06 million annual pace, while prices reach record highs for July. The 30-year fixed rate sits at about 6.69%, and mortgage-rate trends are weighing on buyers as supply remains tight.
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.
An appellate court in Brooklyn has stayed a Staten Island judge's temporary restraining order and briefly allowed New York City's new pied‑à‑terre surcharge rollout to resume while the city seeks an appeal. The lawsuit challenges the administration's notification and list release; the city has argued the pause would derail time‑sensitive implementation.
Global stocks have rallied this month after officials reported progress in talks to reopen the Strait of Hormuz, and a string of strong corporate earnings has bolstered investor sentiment. Treasuries and oil prices have fallen as traders pare back expectations for near-term Fed hikes; strategists warn valuations and one-off earnings boosts limit further upside.
Bumble has announced changes allowing either user to send the first message and extending the reply window to 72 hours, as part of a broader move by dating apps to combat user fatigue and lift engagement.
The United States has requested the extradition of Apollo Carreon Quiboloy, the founder of the Kingdom of Jesus Christ, to face charges including child sex trafficking and fraud. The request has been sent to the Philippine Department of Justice and requires the approval of two Philippine courts. Quiboloy has been jailed since 2024 amid investigations into abuse and trafficking.
Wall Street has committed vast capital to AI projects while US equity indexes have hit fresh records and volatility sits near year-to-date lows. Big investors have lined up roughly $500 billion to finance AI build-outs linked to Nvidia, and the heavily leveraged hedge fund Situational Awareness has lost around 67% in a month and sold much of its public book to Citadel.
AGoogle‑reported campaign shows hackers using voice phishing to target private equity firms, law firms and ratings agencies, stealing passwords and MFA codes via spoofed help desks. Several victims reportedly paid ransoms; researchers warn that the human element remains the biggest weakness in corporate security.
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.
The Supreme Court justice has announced he will remain for another term, a move that reshapes the court's balance as Republicans look to confirm a potential successor before the next election cycle. The discussion comes amid ongoing debates over longevity, health, and the political dynamics surrounding the high court.
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.
Goldman Sachs economists say AI investment will add modestly to GDP while crowding out some other tech and data-center activity; Moody’s cautions a potential stock-market bubble but expects slower long-run returns. Overall, AI expands investment with limited immediate macro disruption as hyperscalers drive capital and borrowing costs.
Paramount has signalled it may relocate operations if California AG Rob Bonta does not settle his antitrust lawsuit blocking the Warner Bros. Discovery merger. Ellison has outlined an October relocation plan, with potential moves to Tennessee, Texas or Georgia. Regulators in the US and UK have been watching closely as litigation and settlements shape the deal.
Global gold-backed ETFs have drawn $3 billion in July, ending two months of outflows as Western investment demand shows tentative signs of recovery. Europe led inflows, North America posted modest gains, and Asian funds boosted holdings, while prices rebound from earlier lows but remain below January highs.
Norway’s sovereign wealth fund has posted a record first-half profit of about $185 billion as markets rally in tech names. It has disclosed a 0.05% stake in SpaceX, valuing the position at just over $1.2 billion, while its larger holdings include Nvidia, Apple and Microsoft. NBIM says the fund remains globally diversified and long-term oriented.
Investors have renewed focus on AI infrastructure after strong earnings from hyperscalers and Nvidia partners; CoreWeave reports extend-into-2029 A100 contracts, suggesting longer GPU lifespans and steadier demand. The sector has moved from a rough patch to renewed optimism as data-center spend shows monetization potential.
Ferrari’s first fully electric Luce has sold at Sotheby’s Monterey for $40 million, a record for a new car at auction. Proceeds go to the Ferrari Foundation’s educational programs. The sale follows mixed reception to the EV’s design and Ferrari’s push into electrification.
Meta has agreed to paid settlements in the US totaling up to $16.68-18 billion and to implement stricter controls on Facebook and Instagram, including two-hour daily limits for under-18s and nighttime blocks. The deal, which still requires court approval, marks a rare regulatory constraint on a major platform, with debates extending globally as other jurisdictions consider similar rules.
The Treasury has expanded its bond-buyback program to support longer-dated debt, but yields on the 10-year and 30-year Treasuries have remained elevated as debt levels and deficits draw scrutiny. Investors are weighing the impact on mortgages, AI infrastructure funding, and policy uncertainty across multiple outlets.
Jane Street says it has reduced risk exposure in AI-related trades after a July downturn that hit AI-heavy holdings, with the firm aiming to be more selective about risk in its portfolios.
The US Treasury has announced "Operation Economic Outcast," expanding secondary sanctions and targeting Iran's digital assets, technology, gold, aviation and shipping to sever Tehran's revenue streams. Washington has designated about 60 individuals, companies and vessels worldwide; Iran says it is prepared with contingency plans and vows to pursue both defence and diplomacy.
Taiwanese prosecutors have indicted nine people over the alleged illegal export of Nvidia GPUs to China, with several servers shipped via Indonesia, Japan, and Hong Kong. The case underscores ongoing US-China tech frictions and Taiwan’s tightening export rules to curb restricted technology reaching China.
Multiple tech firms push back on doomsday AI narratives, arguing AI will strengthen data-backed operations rather than replace core software. Salesforce and Palantir promote sovereignty and governance of AI within enterprise ecosystems while analysts urge careful adoption and enhanced transparency.
Nvidia has reported record quarterly revenue and profit, powered by demand for AI data-center chips. The company projects further gains, citing supply constraints and a booming AI market, while investors await next steps in its expansive AI economy strategy.
Josh Kushner has issued his first public statement about the abandoned FIFA Forward Enterprise plan, saying he still supports the idea but would not have invested had he known how the process would unfold. UEFA has asked U.S. courts to compel Thrive and Kushner to hand over documents and testimony as it prepares potential criminal mismanagement claims against FIFA president Gianni Infantino.
Federal Reserve Chair Kevin Warsh has told the Jackson Hole symposium that recent inflation readings have not shown that underlying trends have meaningfully improved and that short-term rates remain the Fed's primary tool. Markets have pushed up Treasury yields and raised odds of a September rate increase as officials debate whether to tighten policy.
Gap has named Michael Francis as the new chief executive of Old Navy, with Haio Barbeito moving to an advisory role. The shift comes as Old Navy’s quarterly sales lag and the company pursues a path to restore momentum while maintaining its broader strategy.
Bessent hosts the G20 finance meeting in Asheville, focusing on growth, debt, and monetary stability while Iran tensions and US-China frictions loom over talks, with officials signaling continued use of economic pressure to isolate Iran.
Bank of England Governor Andrew Bailey has warned that frontier AI models pose a rising cyber risk to the financial system, with potential to disrupt markets across borders. In a G20 letter, Bailey calls for global steps to ensure safe model release and to bolster market infrastructure against coordinated shocks.
The latest inflation reports have kept pressure on American households, with both wholesale (PPI) and consumer (CPI) indices showing prices staying above 3%. The Federal Reserve faces ongoing debates over possible rate moves as energy costs and supply-chain dynamics feed through, while investors digest a strong jobs backdrop.
Maria Bartiromo has parted ways with Fox News Media amid unresolved questions about her status. Independent reporting confirms she has been removed from Fox programs after she shared an internal memo about election claims; Fox says the departure is final and thanks her for her work. The controversy continues as Bartiromo and allies push back against the reports.
President Donald Trump has announced he will block Bombardier from selling in the United States unless the Canadian company moves production to the U.S. His post follows a collapse in Canada-U.S. trade talks and reciprocal tariffs: Ottawa has introduced retaliatory levies on roughly $20–28 billion of U.S. goods.
Apple has unveiled the iPhone Duo, a passport-sized foldable that opens to a 7.6-inch horizontal display and runs new A20-class hardware and on-device Apple Intelligence. CEO John Ternus has positioned the Duo as a productivity device; preorders start Sept. 12, iPhone 18 Pro models ship Sept. 18 and the Duo will be available Oct. 23.
OpenAI has launched ChatGPT for Financial Services, integrating data from Daloopa, PitchBook and LSEG News into GPT-6 Astra to assist analysts with research, data analysis and pitchbook creation. The offering is designed for banks and financial institutions and ties into the company’s IPO drive.