BUSINESS
Powell’s global peers to cheer for the Fed in rebuke to Trump
The Fed chair is facing relentless attacks from President Donald Trump for refusing to cut interest rates. Trump has also pledged to replace Powell next year when his term as chair expires with someone more compliant.
BUSINESS
Novo Nordisk’s new CEO starts hiring freeze in cost-cutting push
The hiring freeze will apply across all markets and departments, with the exception of business-critical roles, a spokeswoman said.
WORLD
Meta restructures AI group again in pursuit of superintelligence
The new structure is meant to “accelerate” the company’s pursuit of so-called superintelligence, according to an internal memo sent Tuesday by Alexandr Wang, the former Scale AI chief executive officer who recently joined Meta as chief AI officer.
WORLD
Airbus workers to strike at UK wing factories over pay
The industrial action will start on Sept. 2 and continue over a three-week period at Airbus wing factories in Broughton and Filton, according to Unite, a union that represents more than 3,000 Airbus engineers and aircraft fitters
BUSINESS
Pop Mart shares hit record as CEO announces new mini Labubu
The stock climbed as much as 14% to HK$319.4, the highest level since the company went public in December 2020, and closed at HK$316
MARKETS
Citadel Securities expands team in India after Jane Street saga
The Miami-based company aims to recruit more traders and senior roles at its Indian operations
BUSINESS
Trump embarks on $104 million bond-buying spree while in office
The 690 transactions, the first of which was made the day after his inauguration, total at least $103.7 million, according to a document released by the White House
BUSINESS
Intel’s $24 billion rally sends valuation to dot-com levels
Shares of the struggling chipmaker have rallied 28% this month, adding about $24 billion in market value, on reports that the US government is in talks for a potential equity stake, as well as plans for a $2 billion investment from Japan’s SoftBank Group Corp.
BUSINESS
Asian shares, Nasdaq futures fall after tech slide
Stocks opened lower in Japan, Australia and South Korea while MSCI’s Asia Pacific Index fell 0.3%.
BUSINESS
US targets Chinese steel and lithium for forced-labour scrutiny
The announcement of new ‘high-priority sectors’ targeted under the four-year-old Uyghur Forced Labor Prevention Act was included Tuesday in an annual update to the US government’s enforcement efforts
BUSINESS
US seeks Intel stake without governance rights, Lutnick says
Intel rose as much as 11% in New York trading on Tuesday, while SoftBank fell 4% in Tokyo.
WORLD
Rich Londoners find money can’t buy ACs as temperatures soar
With temperatures in some parts of the London Underground recently exceeding levels deemed fit for cattle, climate change is well and truly transforming the experience of living in Britain’s capital.
WORLD
Europe’s wildfires have burned the most land in nearly 20 years
Blazes have scorched about 8,948 square kilometers (3,455 square miles) across the European Union in 2025 — more land than in any year since 2006, according to new satellite estimates from the Copernicus space program
BUSINESS
Xiaomi’s revenue rises 31% after second EV fires up consumers
Revenue climbed to 116 billion yuan ($16.2 billion), versus the average analyst estimate of about 115 billion yuan
WORLD
UK scraps demand for Apple ‘backdoor’ after pressure from US
US Director of National Intelligence Tulsi Gabbard said on Monday that British authorities had rescinded an order asking the company to circumvent encryption to help them pursue certain national security and criminal investigations
WORLD
Pentagon eyes $3.5 billion restock costs from Israel operations
Almost every paragraph outlining US-specific items to be bankrolled is tagged as an ‘emergency budget request.’
WORLD
Vietnam kicks off ambitious new projects to spur economic growth
The Southeast Asian nation has been stepping up a drive to achieve its GDP growth target of at least 8% this year despite global uncertainties
BUSINESS
China, India seek better ties as US tariffs add uncertainty
“Having seen a difficult period in our relationship” both nations “now seek to move ahead,” Jaishankar said in New Delhi on Monday. “Differences must not become disputes, nor competition conflict.”
BUSINESS
Trump tariffs seen fostering new China-Global South trade order
China’s goods exports over the past decade have doubled to nations mostly across Southeast Asia, Latin America and the Middle East, compared with growth of 28% to the US and 58% to Western Europe, S&P Global said in a report
BUSINESS
SoftBank to invest $2 billion in Intel as part of US push
Intel shares jumped about 5% in late trading after the announcement. They had closed at $23.66 in New York after a year-to-date gain of 18%.
BUSINESS
Asian stocks look subdued ahead of Jackson Hole
Investors face a pivotal week as the Federal Reserve’s annual Economic Policy Symposium kicks off Thursday in Jackson Hole, Wyoming, potentially offering signals on the path of interest rates.
WORLD
Trump administration in talks to take a 10% stake in Intel
At Intel’s current market value, a 10% stake in the chipmaker would be worth roughly $10.5 billion.
BUSINESS
Treasuries extend losses ahead of key Jackson Hole Powell speech
The benchmark 10-year yield rose two basis points to 4.34%, extending a move that began on Thursday when wholesale inflation jumped the most in three years
BUSINESS
Xiaomi’s $120 billion gain faces scrutiny on smartphone slowdown
Concerns are growing over the Chinese technology company’s core smartphone operation, which is expected to post a major slowdown in growth and narrower margins in quarterly results due later Tuesday
