BUSINESS
Asian stocks rise as Powell signals Fed will cut
Shares in Japan and South Korea advanced with MSCI’s gauge for the region gaining 0.2%. Australian stocks hit a fresh record.
BUSINESS
Fed’s Jackson hole exposes hard road ahead for central bankers
Policy disagreements could grow in the coming months as Trump names new officials to vacancies at the Fed and Powell’s term as chair ends in May.
BUSINESS
Foxconn’s recall of more Chinese staff tests Apple’s India push
Foxconn has started flying in Taiwanese engineers to replace staff leaving, people familiar with the matter said, asking not to be named as the information is private.
BUSINESS
HSBC’s Swiss Bank said to exit 1,000 mideast clients amid revamp
More than 1,000 clients from Saudi Arabia, Lebanon, Qatar and Egypt are among those being told they can no longer bank with HSBC’s Swiss wealth management business, the people familiar with the matter said.
WORLD
US Air Force, Navy seek $1 billion to buy secret Lockheed Martin missile
Lockheed’s AIM-260, born in secrecy, now races against China’s PL-15 and PL-17 to redefine air combat supremacy.
BUSINESS
US takes nearly 10% Intel stake, clinching unorthodox deal
Under the agreement, the US will receive 433.3 million shares of common stock — representing 9.9% of the fully diluted common shares in Intel — according to a statement from the company.
BUSINESS
Wall Street gets the rally signals from Powell it was hoping for
The S&P 500 Index rebounded from a five-day slide, rising as much as 1.7%, while the Russell 2000 surged 4% on the back of rate- and economically-sensitive stocks.
WORLD
National Guard troops in Washington, DC will carry weapons, Pentagon says
The federal takeover of the city remains deeply unpopular with DC residents, polling data show.
COMMODITIES
Gold advances as Powell opens door for rate cut in September
Traders added to bets on the US central bank’s rate cut next month as Powell delivered his speech. Bullion typically benefit in a lower rate environment.
BUSINESS
Stocks, bonds jump as Powell signals Fed will cut rate
The S&P 500 rose 1.2%, halting a five-day slide, with a rebound in tech megacaps propping up the market.
BUSINESS
Key takeaways from Fed Chair Powell’s Jackson Hole speech
The Fed chair also said 'the stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance'
BUSINESS
OpenAI HR chief Julia Villagra to exit the company
In an internal Slack message, Villagra said she’s departing to “pursue a passion she’s developed at OpenAI; using art, music, and storytelling to help people better understand the transition to AGI.”
BUSINESS
Meta poaches Apple AI executive even as it plans hiring slowdown
Chu helped manage the running of large language models on Apple cloud servers and oversaw some training of the software.
BUSINESS
US launches probe of wind turbines, opening door to more tariffs
The US Commerce Department started a national security probe on August 13 into whether wind energy imports harm national security and undermine domestic production, according to a notice posted by the agency Thursday
WORLD
US jobless claims rise, adding to signs of slowing labour market
Initial claims increased by 11,000 to 235,000 in the week ended Aug. 16. The median forecast in a Bloomberg survey of economists called for 225,000 applications
WORLD
Boeing in talks to sell as many as 500 planes to China
The mega sale to China, years in the making, is contingent on the two nations diffusing the trade hostilities that hark back to Trump’s first term in office — and could still fall apart, sources say.
BUSINESS
EU, US reach agreement on joint statement outlining trade deal
The development underscores the nature of trade talks under Trump, with some initial, broad pronouncements of deals giving way to weeks — or more — of work to hammer out detailed agreements
WORLD
Russian missiles strike US electronics plant in western Ukraine
Local authorities said that at around 4:40 a.m. local time, two Russian cruise missiles hit the company’s premises in Mukachevo
INDIA
India and Russia seek to increase trade to $100 billion as US ties fray
Jaishankar said during a visit to Moscow that the two countries must remove trade bottlenecks and reduce non-tariff barriers
MARKETS
India stocks now EM investors’ biggest underweight, says Nomura
Investors re-allocated from India to Taiwan, Hong Kong/China and South Korea in July, with 71% of EM funds becoming underweight on India at the end of the month
WORLD
Donald Trump plans executive order on flag burning: Report
Trump has long sought to impose penalties for flag burning, floating punishments including a prison sentence or a loss of citizenship
WORLD
Texas House passes Trump-backed redistricting plan to boost GOP ahead of 2026 midterms
The Texas House approved a Republican-led congressional map aimed at gaining up to five GOP seats, despite Democratic opposition and threats of legal action.
IPO
India becomes rare hub for green IPOs with $4 billion of deals
The wave of green listings comes on the back of a pickup in India’s broader IPO market after a slow start to the year
MARKETS
Asia stocks rise as Nasdaq bounces from lows
South Korea’s Kospi index rose over 1%, led by a gain in Samsung Electronics Co. shares. LG Display Co. climbed in Seoul while Advantest Corp. jumped 4% in Tokyo
