Last updated: September 8, 2026, 2:49 PM ET
Equities
Global equities stumbled as Brent crude approached $100 a barrel, reinforcing expectations that central banks will have to raise interest rates to contain inflation. The yen hit its highest level since February during the session. US markets wobbled as higher oil prices dragged sentiment before investors returned from the Labor Day weekend, with Dow futures dipping. The stock market’s breezy summer is over, and investors face down an often bumpy stretch for markets as the Fed and inflation are back in focus, according to a WSJ analysis.
Investors are focused on strong corporate earnings and A.I., while looking past the war in Iran, but rising interest rates are an increasing risk to the rally, notes a New York Times piece on why stocks are defying gravity. Stock investors are caught between the pull of strong earnings and mounting macroeconomic risks, with key events carrying binary outcomes that argue for some protection, according to Bloomberg’s Taking Stock column. A sudden reversal in momentum for previously high-flying shares of industrial companies over the past three weeks has some investors bracing for more pain ahead, per Bloomberg Markets.
Japanese stocks were lower as uncertainty over the Middle East conflict and Fed policy persists, with the Nikkei falling 0.6%, dragged by electronics and machinery stocks. Asian stock markets were mixed as investors looked to US consumer inflation data, with regional markets lacking cues given Monday’s Labor Day holiday, according to WSJ Markets. India’s Nifty 50 stayed muted as Asia’s tech rally powered ahead, recording muted daily moves for 25 straight sessions, the longest such run this year, per Bloomberg Markets.
Even as their shares got pummeled, companies like Salesforce and Workday have been showing financial strength, suggesting that AI is disrupting software companies—but not as fast as many feared, reports WSJ Markets. A rally in emerging market currencies and stocks paused as oil prices pushed toward $100, per Bloomberg Markets. Game Stop’s net income came within the forecast range it had given last month, and the videogame retailer boosted its full-year profit outlook.
Fixed Income & FX
The yen surged to a six-month high against the dollar, bolstered by expectations of faster interest-rate increases by the Bank of Japan and the potential for investment inflows into Japanese assets. The Japanese currency strengthened further against the dollar and other currencies in early Asian trade, with sentiment toward the currency having “materially” shifted, per WSJ Markets. The yen is closing in on its strongest level this year after a break through 155 per dollar triggered stop-loss orders, putting the 152 area firmly in traders’ sights, according to Bloomberg Markets. The Japanese currency strengthened to below ¥154 per dollar, extending gains after a steep rise in London, with traders staying alert for signs of intervention, reports the Financial Times.
The Australian dollar rose to a fresh 13-year high against its New Zealand peer, driven by a diverging interest-rate outlook by their central banks and a lift in metals prices. Thirty-year gilts were priced at a yield of roughly 5.83%, the UK’s highest borrowing cost since 1998, underscoring pressure on public finances from the global bond sell-off. Eurozone government bond yields were marginally lower, awaiting Thursday’s ECB interest-rate decision, per WSJ Markets.
Japan’s five-year government bond auction saw slightly tepid demand as investors turned cautious ahead of this month’s Bank of Japan meeting, reports Bloomberg Markets. Japanese government bond yields surged to 3% for the first time this century. Japanese health minister Kenichiro Ueno, who oversees the Government Pension Investment Fund, said the GPIF is still considering whether a review of its asset allocation is needed, according to Bloomberg Markets.
Borrowers around the globe rushed to debt markets on Tuesday, kicking off what is likely to be one of the busiest sessions of the year for bond markets. Companies are flocking to the US leveraged loan market with offerings to reprice large chunks of existing debt, tapping strong investor demand to reduce borrowing costs, per Bloomberg Markets. The yen’s recent surge is unlikely to derail popular carry trades across emerging markets, according to Morgan Stanley strategists, reports Bloomberg Markets.
Energy & Commodities
Oil futures climbed toward $100 a barrel following Houthi attacks, with analysts expecting Brent crude, the international benchmark, to remain elevated for the rest of the year. Brent crude surged toward $100 after Saudi Arabia halted some energy operations near its border with Yemen due to attacks, highlighting risks to supply from the region, reports Bloomberg Markets. Saudi Arabia said operations at several energy facilities in the kingdom’s south were halted after attacks ignited fires, the latest escalation in the region bordering Yemen, per Bloomberg Markets. The Houthi-run news agency in Yemen said the militia would issue a statement about a “large-scale” military operation in Saudi Arabia, according to NYT Top Stories.
OPEC’s crude oil production tumbled in August, snapping a two-month recovery, as output from group leader Saudi Arabia was curbed by threats to both of its export routes. The latest escalation threatens to drag Saudi Arabia and the Iran-backed Houthi militia back into a full-blown war, with Saudi Arabia vowing retaliation after attacks injured dozens, reports NYT Top Stories. Attacks on Saudi energy facilities threaten to open another front in the war engulfing the Middle East, per the Financial Times. Brent crude climbed after reports of Houthi attacks on Saudi Arabia, with oil nearing $100 as Dow futures dipped, reports WSJ Markets.
The economic fallout from a potential return to $100 oil is reviving fears of inflation, as Brent crude, the international benchmark for oil, spikes again, notes a New York Times Business analysis. Oil is back near triple digits, and investors are asking whether their portfolio needs an inflation tax break, per WSJ Markets. US natural gas futures were slightly lower as traders returned from the Labor Day holiday and looked toward the gradual loss of cooling demand, reports WSJ Markets.
Copper prices climbed to a fresh record on the London Metal Exchange as distortions to trade flows due to concerns over potential US tariffs collided with supply challenges at key mines worldwide. Copper extended gains, hitting a record high for a second straight session, as tight near-term supplies and expectations the US will tariff imports of refined metal buoyed prices, per Bloomberg Markets. Wheat jumped the most in almost two weeks as Russia rejected a proposed moratorium on attacks against ships carrying civilian goods in the Black Sea, heightening concerns about prolonged disruptions to trade. Oil tanker company Hunter Group ASA says it’s owed $55 million by a counterparty that’s disputing its contractual obligations after a surge in the world’s benchmark freight rate, reports Bloomberg Markets.
In gold, the bulls are everywhere, with Société Générale noting that “across positioning, flow, and derivatives data, every signal we track continues to point in the same direction: the market is bullish on gold across all fronts,” reports WSJ Markets. Gold wavered, as traders weighed the competing effects of rising Middle East tensions and the US dollar’s decline against the yen, per Bloomberg Markets. Oil approaches $100 a barrel and China’s monthly exports surge, according to the Financial Times’ FirstFT newsletter.
Deals & Corporate News
GE Aerospace struck a deal to buy engineered castings maker Consolidated Precision Products from private investment firms Warburg Pincus and Berkshire Partners for $11.75 billion. Cerberus is nearing a £1bn deal for the defence unit of London-listed engineering group Goodwin, reports the Financial Times. Tamarack Valley Energy agreed to buy Headwater Exploration Inc. for C$10 billion ($7.24 billion), the latest in a wave of deals in Canada’s oil patch, per Bloomberg Markets. The acquisition combines Headwater’s low-cost production footprint with Tamarack’s asset base, bringing together more than 1,500 sections of contiguous land across northern Alberta, reports WSJ US Business.
Verizon and Corning reached a multi-billion dollar agreement for broadband expansion, with the companies saying the deal will help meet surging demand for consumer broadband and converged services. Next Era Energy said it reached a deal with the US Department of Energy, closing on a loan of up to $1.9 billion to support the restart of the company’s Duane Arnold Energy Center in Iowa, reports WSJ US Business. The US government is taking minority equity stakes in D-Wave Quantum, Rigetti Computing, and Quantinuum with a combined $300 million CHIPS Act deal that funds the three companies to scale quantum-computing efforts, per WSJ Markets.
HGP Intelligent Energy plans to go public via a blank-check vehicle in a deal valuing the nuclear services firm at about $1.2 billion, according to a statement from the company on Tuesday. Franklin Templeton is buying a majority stake in Stoneshield Capital, a European investment firm specializing in real estate and infrastructure, in the latest move by the US money manager to expand its alternatives business, reports Bloomberg Markets. UniCredit has acquired a minority stake in German lending markets platform VC Trade as the Italian bank seeks to expand its digital capital markets capabilities in debt transactions, per Bloomberg Markets.
Liberty Global agreed a €670mn towers sale ahead of its Ziggo spinoff, with Vodafone Ziggo selling assets to a consortium led by Digital Bridge as it works to reduce debt. Ever Bank Financial has reached a deal to pursue a reverse merger with the smaller WaFd bank in the Pacific Northwest, creating a $75 billion bank, reports WSJ Markets. Robinhood will add yes-or-no contracts from Crypto.com’s prediction business and take a stake in the digital-currency exchange, per WSJ Markets. Robinhood also won an underwriter role in the Oura IPO, which could give the brokerage more influence over the number of shares allocated to its customers, reports WSJ Markets.
A significant shareholder in Xerox Holdings Corp. is pushing the company to take action to unlock shareholder value and is asking for a strategic review of its financial services business, per Bloomberg Markets. Boston Scientific said it likely won’t meet its financial guidance due to the cyberattack that has disrupted its operations, sending shares of the medical-technology company down sharply in premarket trading, reports WSJ US Business. United Natural Foods expects profit and sales to rise this fiscal year as it onboards further business from new and existing customers, per WSJ US Business.
AI & Technology
Mistral AI exceeded a $24 billion valuation after a Samsung-led investment round, with the French artificial-intelligence startup raising $3.48 billion from existing investors such as Samsung and ASML Holding, as well as new backers. The French AI model maker raised a record €3bn as Europe strains to keep pace in the AI race, with the new funding round led by Samsung, reports the Financial Times. Mistral is trying to keep pace with American and Chinese rivals while offering customers a European alternative for artificial intelligence, raising $3.5 billion as part of a strategy shift, per NYT Top Stories.
Bankers for Anthropic and OpenAI are pushing for top-tier credit ratings post-IPO, as an investment-grade designation would unlock cheaper financing for AI labs and their infrastructure partners, reports the Financial Times. A new PAC is starting with more than $10 million and says it intends to support midterm House candidates in swing states, as Democrats lag on AI, per NYT Top Stories. Jacob Tsimerman, a recent recipient of the Fields Medal, believes that higher mathematics can help curb the dangers of runaway artificial intelligence, announcing a new institute for AI safety, reports NYT Top Stories.
A.I. researchers discovered an attack that could have compromised hundreds of millions of devices within hours, with A.I. models building a computer worm that could rapidly hack WeChat accounts. Washington imposed sanctions on Inspur because of its work with the Chinese military, but the company’s subsidiary kept shipping Nvidia’s best chips to feed China’s leading A.I. firms, reports NYT Business. Huawei is leading China’s push to break reliance on foreign chip technology, playing a “project management” role to build components needed for DUV machines and avoid export controls, per the Financial Times.
Listing sites are littered with homes with fake fireplaces, improved views and virtual landscaping, raising false advertising concerns, with A.I. listings so widespread even Zillow is concerned, reports NYT Top Stories. Australia proposed an opt-out law for social media algorithms, with draft legislation following an under-16 ban as part of a widening effort to rein in Big Tech, per the Financial Times. SpaceX’s stock has been stuck in a tight trading range recently, but a wave of new buying may soon arrive when the Nasdaq 100 Index goes through its quarterly rebalancing later this month, reports Bloomberg Markets.
Trade & Geopolitics
Prime Minister Mark Carney said he doesn’t believe in escalating the trade war with the US, but he argued counter-tariffs are necessary to cushion the blow for Canadian businesses and workers. In a video address, the prime minister said the United States was seeking “dependency, not a true economic partnership” from Canada, defending Canada’s $20B retaliatory tariffs on US goods, reports NYT Business. New Canadian levies of up to 50 percent are expected to begin Tuesday, even as Washington warns of a new round of American tariffs, per NYT Top Stories. The duties are a retaliation against President Trump’s recent tariffs, raising concerns about further escalation, with Canada imposing new tariffs on US goods as the trade war intensifies, reports NYT Top Stories. Escalating tensions between the United States and Canada are examined in a NYT analysis of the trade war.
China’s exports grew by a quarter in the month of August, weeks before its leader, Xi Jinping, is set to meet with President Trump in Washington. China’s export surge sets the stage for a record annual trade surplus, with data released ahead of a crucial meeting between Donald Trump and Xi Jinping on extending the tariff truce, reports the Financial Times. China’s President Xi Jinping urged Britain to protect the legitimate rights and interests of Chinese investors in his first phone call with UK Prime Minister Andy Burnham, per Bloomberg Markets.
Montreal-based Bombardier has been embroiled in US trade disputes before, and President Trump threatened to bar the company from selling in the United States, reports NYT Top Stories. Americans in border regions have had symbiotic relationships with Canadians, but the trade war is testing their bonds, per NYT Top Stories. A group of 18 countries that dominate global shipping warned of a structural shift raising costs, with wars and shadow fleets threatening free seas, reports WSJ US Business. Wars and the growth of the shadow fleet are causing a “structural shift” in global trade, according to 18 maritime authorities, per the Financial Times.
The US took action against dozens of firms supporting Iran’s aviation sector on Tuesday, as part of a new sanctions effort from the Trump administration that hasn’t yet appeared to have much impact on the country, reports Bloomberg Markets. A longtime ally of Israel, the UK has condemned plans to expand the settlements, which are widely considered illegal under international law, and is set to impose sanctions on Israeli settlements in the West Bank, per NYT Top Stories. After voting against talks to join the European Union, Iceland is reacting forcefully to a slight against its sovereignty, summoning the US ambassador over a provocative Trump map, reports NYT Top Stories. Secretary of State Marco Rubio will push Colombia’s new leader to tackle the cocaine trade, with targeting traffickers at the top of the agenda, per NYT Top Stories.
Central Banks & Macro
Global financial markets already under strain from a bond selloff and sharp currency swings face the risk of more volatility in the months ahead with the prospect of interest-rate hikes, mounting concerns about fiscal deficits and a busy election calendar, reports Bloomberg Markets. Rate hikes, elections, and fiscal concerns threaten to upend markets, with the market’s summer lull giving way to increased volatility, per Bloomberg Markets. Investors brace for a choppier fall as the Fed and inflation return to center stage, reports WSJ Markets. Divergent reactions to interest-rate hikes underline the importance of the narrative behind rate rises, with Japan Inc able to brush off rate hikes better than America, per the Financial Times.
Confidence among US small businesses pulled back slightly in August as uncertainty remained elevated and expectations for better business conditions declined, reports WSJ US Business. Many countries now spend more on debt servicing than defence, including the US, France and the UK, with the global debt interest bill surpassing $2 trillion, per the Financial Times. Senegal will seek to negotiate a debt reprofiling instead of a restructuring in talks with creditors as the West African nation moves to make its loans sustainable to qualify for an International Monetary Fund program, reports Bloomberg Markets. Informal conventions on sovereign debt restructurings need to give way to clearer international rules, argues the Financial Times.
Politics & Policy
Chancellor Friedrich Merz was a drag on his conservative party in its disastrous loss to the far right in a state election, with a far-right win putting new pressure on Germany’s leader, per NYT Top Stories. The Alternative for Germany, or AfD, does not have a straightforward path to governing Saxony-Anhalt, but a small populist party could clear the way, reports NYT Top Stories. Less than two years after a catastrophic election, the Democratic brand remains unpopular, and the party is still in the grip of a divisive identity crisis, with the Democratic Party afraid of its own voters, per NYT Top Stories.
For G.O.P. candidates in the most competitive races, deciding whether to appear with President Trump can be tricky, with some going to the Republican convention while others stay away, reports NYT Top Stories. David Maxwell was among the staffers in the Texas attorney general’s office who accused Ken Paxton of abusing the power of his office, allegations that led to his impeachment, and he now appears in an ad endorsing his rival, Talarico, per NYT Top Stories. Patients sued by Senator Roger Marshall of Kansas were routinely charged 18 percent interest, with some having bank accounts garnished, and 81 were arrested, reports NYT Top Stories. The Trump administration laid out its plan to improve the health of American children a year ago, and we examine where those efforts stand, per NYT Top Stories.
Since returning to the White House in 2025, President Trump has repeatedly denounced the Smithsonian’s museums, with a timeline of his pressure campaign against the institution, reports NYT Top Stories. In the face of escalating White House attacks about how museums present American history, Lonnie G. Bunch III has announced his decision to depart as Smithsonian secretary, per NYT Top Stories. President Abelardo de la Espriella eased Colombia’s strict gun laws by lifting a general suspension of permits to carry firearms, reports Bloomberg Markets. The Mamdani administration is releasing more than 170,000 pages of documents related to the air quality around the World Trade Center site in the months after the Sept. 11 attacks, with documents suggesting New Yorkers were misled about air quality, per NYT Top Stories.
Financial Services & Real Estate
Profit at Old Mutual declined for the first time since 2022 as risk-off sentiment from conflicts in the Middle East curbed investment returns at Africa’s biggest insurer by assets. Old Mutual wants South Africa’s newest bank profitable by 2028, according to Bloomberg Markets. Resignations of chair and chief in a span of less than six months lay bare corporate governance issues at HDFC Bank, with questions over for one of India’s biggest banks, reports the Financial Times. The Swiss bank lobby chief Pierre Mirabaud was given a two-year suspended jail sentence by Switzerland’s Federal Criminal Court over payments to a Kuwaiti official, convicted of bribery and money laundering, per the Financial Times.
Elliott Investment Management sued the London Metal Exchange, claiming its handling of the nickel crisis breached UK competition rules, according to the defendant’s parent company. Bridgepoint Credit has transferred €1.2 billion ($1.4 billion) of loans from an older direct-lending fund into a new continuation vehicle, per Bloomberg Markets. Cinven has raised €2.3 billion ($2.7 billion) for its latest fund targeting mid-sized deals, exceeding its target at a time of elevated demand for buyout assets that can be more easily monetized, reports Bloomberg Markets. Gaw Capital Partners has secured a HK$4.29 billion ($547 million) loan backed by its Regent Hong Kong hotel with lender commitments exceeding the target amount, underlining strong demand for prime hospitality assets, per Bloomberg Markets.
Lower Manhattan’s office market is showing early signs of a revival as companies seek a less costly alternative to the prestigious skyscrapers of Midtown, with New York City’s office market recovery spilling over to downtown, reports Bloomberg Markets. Sydney property developer Bathla Group’s collapse has left thousands of Australian homebuyers—who have paid deposits and are waiting for their off-the-plan homes to be built—in limbo, per Bloomberg Markets. Philippine property developer Vista Land & Landscapes Inc., owned by billionaire Manuel Villar, said it’s looking at a slew of options to raise funds such as selling assets to meet debt obligations, reports Bloomberg Markets. Singapore’s Capita Land Investment Ltd. is targeting $500 million in commitments from investors for its third Asia Pacific credit program, per Bloomberg Markets.
Healthcare & Pharma
Novartis shares sank on the latest trial setback, with the Swiss drugmaker’s neuromuscular medicine failing a late-stage study in a fresh blow. The failure of a neuromuscular treatment is a blow to the drugmaker’s efforts to revive its growth prospects, with Novartis stock dropping after another trial setback, reports WSJ US Business. The class-action, led by four ex-warehouse workers, alleges that Amazon deducted their bank of unpaid time off or flagged them for “time off-task” for medically necessary breaks or absences, with Amazon sued for allegedly discriminating against pregnant workers, per WSJ US Business. Much of the research on exposure to the World Trade Center residue has focused on emergency workers, but people there when they were young say their health is at risk, too, with 9/11’s dust and ash coating their childhood, reports NYT Top Stories.
Energy Transition & Infrastructure
The rate of new reactor construction would need to increase fivefold during the next decade if global 2050 targets are to be met, with a yawning gap between ambition and action on nuclear energy, reports the Financial Times. Growing interest in pumped hydropower is driven by the technology’s large storage potential, with “water batteries” potentially a crucial complement to renewables, per the Financial Times. Developers are drawing on technology and techniques from the offshore oil and gas industry for the next frontier in renewables: floating wind turbines, reports the Financial Times. Alternative formulations are available, as well as the possibility of pumping emissions underground, with a look at how cement can be made greener, per the Financial Times.
Mining tycoon Robert Friedland said he’s fielding “unconventional interest,” including from US Big Tech, in Ivanhoe Mines Ltd.’s fast-expanding copper exploration project in the Democratic Republic of Congo, reports Bloomberg Markets. Viridis Mining and Minerals Ltd. secured Brazilian government funding for a rare-earth project, as the country seeks to tap more of the world’s largest reserves outside China, per Bloomberg Markets. South African billionaire Patrice Motsepe’s near decade-long backing for phosphate producer Kropz Plc has backfired, with the company announcing the restructuring of its sole operating asset and one of its key projects, reports Bloomberg Markets. Many things can go awry, from materials shortages, planning delays, labour scarcity and access to power, with a question of whether data centres will avoid the curse of the mega-project, per the Financial Times.
Transport & Industrials
Jaguar Land Rover is cutting 4,000 jobs amid tariff and cyber-attack fallout, with the Range Rover maker also facing the impact of the trade war. Easy Jet is being sued for $72mn over abandoned planes in a sanctions dispute, with the insolvent Irish arm of a Russian aircraft owner saying the airline unlawfully left jets in Madrid and Cyprus, reports the Financial Times. National Air Traffic Services identified an issue “in our flight processing system” after several hours of investigation, with Heathrow and Gatwick flights disrupted by an air traffic control failure, per the Financial Times. A cargo plane, operated for Amazon, plowed into two vehicles on Sunday, leaving five more injured and disrupting Labor Day weekend travel for thousands, reports NYT Top Stories.
The NTSB chairwoman said the Boeing jet careened 1,300 feet off the runway, hitting a van with seven people, with the Amazon plane crash probe examining aircraft speed and runway safeguards, per WSJ US Business. A technology involving crushable concrete has been credited with saving nearly 500 passenger lives by helping halt planes that overshot their landings, with the Miami plane crash starting a debate about requiring a buffer for runways, reports NYT Top Stories. The plane was operating as part of Amazon’s cargo fleet and had flown from Puerto Rico, crashing into several vehicles after overrunning the runway, per NYT Top Stories. A scathing report issued by the House Oversight Committee blamed the Navy for repeatedly failing to act, recommending that Congress pass legislation to study and treat aviators, with the Navy failing to protect pilots from brain injury, reports NYT Top Stories.
The new Panama Canal leader faces drought and geopolitical challenges, with a heavy-duty truck challenger to Tesla running low on funds—and workers, per WSJ US Business. The electric automaker’s new R2 takes what works from its bigger, costlier brother and adds a host of features with the mass market in mind, with a review of the Rivian R2, reports NYT Top Stories. The car parts chief says salvaging the auto industry is crucial for steel, aluminium, glass and chemical sectors, with Europe warned wealth “won’t last” without its car industry, per the Financial Times. Melting ice is opening a trade route through the Arctic, and China has begun the first regular service, part of its polar ambitions, with a Chinese ship taking an Arctic shortcut, reports NYT Top Stories.
Media & Entertainment
Nick Bilton, the new executive producer, has begun to put his stamp on the show, with an exclusive interview with an officer who was aboard the F-15 fighter shot down over Iran, as “60 Minutes” prepares for a high-pressure premiere after its turbulent shake-up, reports NYT Business. Nearly 1,000 people applied for a rare opening at the quiz show, with “Jeopardy!” hiring a new clue writer, and writing a great clue is tricky business, per WSJ US Business. The personal computer that launched a thousand memes will debut this week as a digital token, with Hunter Biden (and his laptop) entering the cryptosphere with a new meme coin, reports WSJ Markets. David Rubenstein purchased the sculpture, which was removed from the Kennedy Center last week, from the artist’s foundation, and will display it at the National Gallery of Art, per NYT Top Stories.
Two photographers, a fashion designer, a stylist, a creative director, an editor and a supermodel debate the images that have had an indelible impact on how we dress, with a look at the 25 most influential fashion photographs, reports NYT Top Stories. Almost a year after the brazen Louvre heist, thieves targeted a museum that was formerly the artist’s home in the south of France, stealing artworks from the Renoir museum, per NYT Top Stories. The government insisted the funeral was a private affair, even as government ministers attended and state-controlled news media lavished praise on the convicted war criminal, with thousands of Serbs gathering to mourn Ratko Mladic, the “Butcher of Bosnia,” reports NYT Top Stories. At the annual West Indian American Day Parade in Brooklyn, many Haitian New Yorkers targeted by an immigration crackdown were absent from the festivities, per NYT Top Stories.
Other Notable Stories
The storm began to pull away from Hawaii early on Tuesday, but the threat of flash floods and landslides from lingering hurricane conditions remained, with Hurricane Lowell bringing rain, fierce wind and power outages on Hawaii’s Kauai, reports NYT Top Stories. Lue Yang, who was convicted in a home invasion as a teenager, was facing deportation to Laos, and with a plane on the tarmac, he wondered whether an appeal would be heard, in a 100-day scramble to free him, per NYT Top Stories. Residential buildings with fewer than 10 units are required to put out their trash in official “NYC Bins” as part of the city’s efforts to deter rats, with owners who don’t comply facing fines, reports NYT Top Stories. In an era of heavy rain, a transit system with 47,000 openings is bound to leak, with a look at the absurd, unending quest to floodproof the New York City subway, per NYT Top Stories.
As global demand for seaweed surges, a Canadian corporation’s bid for exclusive harvesting rights in the west of Ireland has upended a once-sleepy industry, with seaweed as their way of life threatened by a company’s sweeping plan, reports NYT Business. After more than 50 months of this war, the next few could be decisive, with an assessment of whether Russia is losing the war in Ukraine, per NYT Top Stories. Maybe consuming meaningless content is the only way to be free online, with a look at brain rot as a cry for help, reports NYT Top Stories. Tens of millions of foreigners visit each year and domestic travel is rising, but some visitors are tightfisted, with tourism as the trillion-dollar bright spot in China’s economy, per WSJ US Business.
The latest batch of yacht-like vessels sailing in Europe, the Caribbean and beyond offer personalized experiences, great food and spacious suites, with new luxury cruise ships setting sail, reports NYT Business. Runaway prices in Seoul are becoming a political risk for Lee Jae Myung as youth anger mounts, with a look at the “ticking bomb” of Korea’s AI property boom, per the Financial Times. Almost 100 lawsuits are active in London as developers, builders and architects sue over remediation costs, with a look at how Grenfell spawned a £1.2bn legal blame game, reports the Financial Times. At a time of global unrest, Switzerland’s two big cities are seeing an influx of arrivals, but with significantly contrasting lifestyles, choosing between Geneva and Zurich is a challenge, per the Financial Times.
Market Talk & Roundups
Find insight on Zcash, ASML Holdings, Bloomsbury Publishing and more in the latest Market Talks covering Technology, Media and Telecom, per WSJ Markets. Find insight on Mobico, Volkswagen, BYD and more in the latest Market Talks covering Auto and Transport, reports WSJ Markets. Find insight on Ingenia Communities, Standard Life and more in the latest Market Talks covering Financial Services, per WSJ Markets. Find insight on BP, Santos and more in the latest Market Talks covering energy and utilities, reports WSJ US Business.
Opinion & Features
“Political risk,” usually the precinct of Third World despotisms, could soon be a concern for US locales, with a question of what if California becomes a “failed state,” per WSJ Markets. The billionaire publicly doubted the podcaster’s reporting, which has been vindicated, with an opinion piece on Pablo Torre, Mark Cuban, reports WSJ US Business. US academics have calculated the price that the private equity group’s portfolio companies pay for its reputation, with a look at the cost of being Apollo, per the Financial Times. The reputation for harsh treatment of creditors costs the group about one percentage point in higher borrowing costs, with the “Apollo premium” driving up debt costs for portfolio companies, reports the Financial Times. FAFOing in creditland, with a look at the complicated implications of the spectacular “Apollo premium,” per the Financial Times.
Comparing chief executive performance is not easy, and here is how the FT’s new ranking tackles the challenge, with a look at how the FT CEO Performance Ranking was calculated, reports the Financial Times. Reveal your own top-performing business leader from across the FTSE 100 by remixing the data, with a question of who is Britain’s best CEO, per the Financial Times. Plus, a techbio CEO offers a dose of reality, with a look at how Almar Latour steers Dow Jones through disruption, reports WSJ US Business. The top competition official says deals helping companies scale up and innovate will get a closer hearing as the region seeks to keep pace with US and China, with the EU opening the door to larger corporate mergers, per the Financial Times. Antitrust is not the enemy of industrial policy, says the EU competition enforcer, reports the Financial Times.
Other Market News
The German lender’s unit will become Deutsche Asset Management, reversing a decision made ahead of its IPO, with DWS embracing the Deutsche Bank name eight years after distancing itself, reports the Financial Times. Swiss cantons are locked in competition to woo high-net-worth individuals, with hedge fund Millennium seeking a tax deal to boost its Geneva presence, per the Financial Times. Neso cited a legal exemption that removes the requirement to consider other suppliers if dependencies leave no alternative, with Britain’s grid operator awarding Palantir a £21m contract without inviting rival bids, reports the Financial Times. The CMA petitions the government to get behind a crackdown on public procurement, with the UK competition watchdog seeking to work with the MoD to curb bid-rigging, per the Financial Times.
Issuance of “dim sum” and “panda” bonds rises past $149bn so far this year, with offshore borrowing in renminbi hitting a record high of nearly $150bn, reports the Financial Times. Alpha Grep Securities Pvt., one of India’s largest high-frequency trading firms, turned to the bond market for funding after the regulator tightened banks’ exposure to securities trading firms, per Bloomberg Markets. The Singapore government is backing Singapore Airlines’ investment in foreign carriers, including its financial support for loss-making Air India, as the company seeks to strengthen its position abroad, reports Bloomberg Markets. Samsung Electronics Co.’s anticipated equity buyback is raising investor expectations that the Korean giant will buy up non-voting preferred shares, narrowing a steep discount and setting an example for other Korean companies, per Bloomberg Markets.
A group of seafaring nations has warned that the rules of the sea are at risk of collapsing following the Iran war and the rise of shadow fleets, with a question of whether the global maritime order is breaking down, reports the Financial Times. Tough crowd, with a look at the strangely disappointing EM inflows, per the Financial Times. Israel’s Navitas Petroleum faces a complaint as Javier Milei escalates a sovereignty dispute, with Argentina filing a criminal case against a Falklands oil driller, reports the Financial Times. Plus, see how drones are infiltrating NATO territory in Europe and test whether you have what it takes to be a clue writer for “Jeopardy!”, per WSJ Markets.
Books & Culture
Memoirs, biographies, true crime, history and more, with 29 nonfiction books coming this fall, reports NYT Top Stories. New fiction from Marlon James, Barbara Kingsolver, John Green, John Grisham and much more, with 35 novels coming this fall, per NYT Top Stories. Plus, could crushable concrete stop the next plane crash?, with a look at why the Pentagon is doing polygraphs and officials preparing to release a huge set of 9/11 documents, reports NYT Top Stories. Plus, oil is back near triple digits, with a question of whether your portfolio needs an inflation tax break, per WSJ Markets.
Newsletter & Announcements
Our newsletter that helps college students get ahead—both inside and outside of class, with an introduction to Extra Credit, reports NYT Top Stories. Also in today’s newsletter: Oil approaches $100 a barrel and China’s monthly exports surge, per the Financial Times’ FirstFT. Also in this newsletter: Austria’s far-right leader revels in AfD success, reports the Financial Times. Plus, legacy software providers buy time to co-opt the artificial intelligence threat, with Democratic Socialists embracing experiential marketing to woo young voters, per WSJ US Business.