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8/28
09:39
Xi's Military Purge Ousts Two Loyalists from China's Legislature
Two associates of President Xi Jinping were removed from China’s legislature as the paramount leader vows no mercy in his push to clean up the military.
09:28
U.S. uranium production more than tripled in 2025 to 2.1 million pounds, highest since 2017
U.S. uranium concentrate (U3O8) production in 2025 totaled 2.1 million pounds, marking a more than threefold increase from 2024 and the highest volume since 2017.
09:23
Japanese startup Muse rolls out retail helper robot in New York grocery store
Japanese startup Muse has launched its retail helper robot at a New York grocery store, aiming to meet the significant demand for labor-saving technology within the U.S. service sector.
09:22
Bank of America: Expects spot prices for storage chips to rise by another 10%-20% in September due to extreme supply tightness and peak season demand.
Bank of America Global Research noted in its August 27 report that the current supply-demand imbalance in the spot market for storage chips is intensifying, with the spot market supply fulfillment rate for September falling below 50%. Major manufacturers such as Samsung Electronics, SK Hynix, and Micron are prioritizing capacity allocation to large tech clients, making it difficult for module manufacturers and white-label OEMs to obtain sufficient general-purpose DRAM and NAND products. Although spot prices have pushed most IT products into negative gross margin territory, the confluence of supply shortages and the traditional peak consumption season is expected to drive prices even higher. The report also identified NVIDIA's revenue growth guidance of approximately 70% for fiscal year 2027 as a significant catalyst for the storage industry. Based on this, it raised its growth forecast for global DRAM sales, estimating that global DRAM sales growth could exceed 80% in 2027.
09:19
Gulf Tanker Rates Near $650,000/Day as Iran War Disrupts Crude Shipments
Daily earnings for vessels shipping crude oil from Saudi Arabia to China reached a record $647,000 on Thursday, more than ten times the level of a year ago, according to data from the Baltic Exchange. Exports from the Persian Gulf are rising, increasing demand for oil tankers within the Strait of Hormuz. Few shipowners are willing to risk this dangerous voyage, leading them to demand huge premiums.
09:12
Gold prices hold steady at $4,650.90/ounce on Friday, August 28, after opening down 0.2% at $4,656, as markets await Fed Chair Kevin Warsh's speech.
Gold December futures opened at $4,656 per troy ounce, down 0.2% from Thursday's closing price. The precious metal's price remains consistent this morning ahead of new Fed Chair Kevin Warsh's pivotal speech at the Jackson Hole summit, which is expected to influence market expectations for next month's interest rate decisions.
09:07
FED'S HAMMACK: INFLATION WILL END YEAR AROUND 3%, NOT MEETING TARGET
09:06
Clarity for All Act Delayed Until September; Matter Labs Executive Comments Banks Still Advancing Crypto Business, But Regulatory Uncertainty Benefits "Walled Gardens"
A CoinDesk column points out that despite the delay in the passage of the U.S. "Clarity Act" until September, banks are still actively building their crypto businesses. Vassilis Tziokas, an executive at Matter Labs, believes that the lack of clear regulatory rules has quietly rewarded the "walled garden" model.
09:06
Anthropic was in talks to acquire AI chip startup MatX for $7 billion but has abandoned the acquisition and is now exploring partnerships, while also engaging with multiple startups to accelerate its chip self-sufficiency.
According to the latest Reuters report, Anthropic was in advanced talks with AI chip startup MatX for an acquisition price of approximately $7 billion, but the acquisition plan was ultimately abandoned, and discussions have shifted to exploring a potential partnership. Meanwhile, Anthropic has also held meetings with several other AI chip startups recently, without a definitive path yet. This week, Anthropic also hired Amir Salek, a Google chip veteran, and in June, recruited Clive Chan, a former OpenAI chip engineer. This series of moves indicates that Anthropic is seeking to reduce its reliance on external hardware suppliers such as NVIDIA and establish long-term advantages in hashrate costs and supply security by mastering independent chip design capabilities, thereby solidifying its competitive moat before its IPO.
09:05
Andreessen Horowitz (a16z) has launched an $1.1 billion "Artificial Intelligence Infrastructure and Applications" fund, which will invest in hardware such as AI processors, storage chips, and robotics to address AI supply chain bottlenecks.
09:04
Trump Administration is working on an AI rule to curb China's remote access to chips, The Information reports.
08:49
Japan intervened in the foreign exchange market with a record $96.4 billion over the past month, receiving rare endorsement from the United States.
Data released by Japan's Ministry of Finance on Friday showed that the government spent a cumulative 15.4 trillion yen (approximately $96.4 billion) to intervene in the foreign exchange market between July 30 and August 26, setting a new historical record for monthly intervention scale. This came after the Japanese yen had fallen to its lowest level in 40 years, nearing 164 yen per U.S. dollar. Japanese Finance Minister Satsuki Katayama and U.S. Treasury Secretary Scott Bessent confirmed in early August that both parties had implemented a joint intervention on July 31, marking the first coordinated U.S.-Japan intervention to support the yen since 1998. Scott Bessent expressed strong support for Japan's efforts to correct the severely undervalued yen and stated that future foreign exchange interventions could utilize the Federal Reserve's Foreign and International Monetary Authorities (FIMA) Repo Facility. Following the announcement of the joint intervention, the yen rose to a high of 155.23 yen per U.S. dollar, and as of Friday evening in Tokyo, it was trading at 159.68 yen per U.S. dollar.
08:44
The new generation IM L6 has officially launched, with a starting price of 199,900 yuan, including launch benefits. All models come standard with a full-line chassis, 800V platform, and intelligent four-wheel steering.
The new generation IM L6 officially launched on August 28th, with a starting price of 199,900 yuan including launch benefits. The new car comes standard with a full steer-by-wire chassis, an 800V high-voltage platform, and intelligent four-wheel steering, along with upgraded electric drive systems and intelligent features. Its 93kWh battery version offers a CLTC range of up to 850 kilometers, and can replenish up to 580 kilometers in 15 minutes. This marks the third major update for the IM L6 in two years, aiming to expand product reach through technological upgrades rather than just price adjustments.
08:39
Silver September futures rise to $71.13/ounce today, up from $69.35 open, ahead of Fed Chair Warsh's Jackson Hole speech
Silver September futures opened at $69.35 per ounce on Friday, August 28, down 0.1% from Thursday's close, but moved higher to reach $71.13 as of 7:57 a.m. ET. Investors are closely watching the market ahead of Fed Chair Kevin Warsh's address at the Jackson Hole summit today, seeking clues on future interest rate decisions.
08:33
Ethena expects real-world asset perpetuals to eclipse crypto derivatives in its $4 billion USDe backing within 12-24 months
The issuer of the $4 billion USDe token is looking beyond crypto to squeeze yield from booming equity perpetuals, anticipating this shift in its backing strategy.
08:25
California Senate Passes Bill Prohibiting Public Officials from Issuing Memecoins
The bill aims to prohibit the sale or listing of memecoins issued by public officials to California residents, citing conflicts of interest and "pay-to-play" arrangements.
08:25
The HKEX Tech 100 Index will add 10 new companies, including Pony AI and WeRide, to increase its exposure to emerging technologies such as AI.
As part of its quarterly rebalancing, Hong Kong Exchanges and Clearing (HKEX) will add 10 companies to its Tech 100 Index, including autonomous driving companies Pony.ai and WeRide, AI drug discovery firm Insilico Medicine, PCB manufacturer Victory Giant Technology, enterprise AI company Beijing Haizhi Technology, and AI data intelligence provider Mininglamp.
08:24
Sandhya Devanathan, Vice President of Meta India and Southeast Asia, has resigned and will join OpenAI to lead its Southeast Asia and Australia operations.
OpenAI stated that Devanathan will be based in Singapore, reporting to Kiran Mani, Managing Director of OpenAI Asia-Pacific, and will be responsible for consumer growth, enterprise adoption and partnerships, regulatory affairs, and operations in Southeast Asia and Australia. Previously, OpenAI appointed Prabhjeet Singh as the head of its India operations. Meta has recently faced increasing scrutiny in India, including issues such as online safety and content moderation.
08:14
WSJ's Nick Timiraos Says Tariffs Translate Into Substantially Larger Movements In Spending Than In Prices
08:08
Former IMF deputy Gita Gopinath says Trump's tariffs are 'straight-out protectionism'
The economist also commented on looming threats to the dollar and described the current global economic situation as a 'great gamble'.
08:07
Economist Sahm Says Fed Should Start Raising Rates Amid Shifting US Inflation Picture
Claudia Sahm, chief economist at New Century Advisors, stated on Bloomberg Surveillance that it would be “most appropriate” for the Federal Reserve to start raising rates, citing a “shifting in the inflation picture in the US right now.”
08:02
Al Jazeera: A six-month review of the US-Israel war on Iran has resulted in 4,350 deaths in Lebanon, 3,527 deaths in Iran, a cost of $37.5 billion for the US, and a 22% rise in Brent crude oil.
Al Jazeera has released a report reviewing the impact of the US-Israel war on Iran over the past six months. As of August 28, the conflict has resulted in at least 4,350 deaths in Lebanon, 3,527 in Iran, and 28 in Gulf countries; additionally, 60 Israelis and 18 US military personnel have died, and 757 US personnel have been injured. US Secretary of Defense Pete Hegseth stated that the war has cost $37.5 billion as of September 30, the end of the fiscal year. Affected by the conflict, Brent crude oil prices rose by approximately 22%, from $72.48/barrel to $88.58/barrel, and the US Strategic Petroleum Reserve fell to 290 million barrels, its lowest level since November 1982. Vessel traffic in the Strait of Hormuz decreased from an average of 100 ships per day before the war to an average of 7 ships per day over the six-month period, with 70 vessel attacks occurring, resulting in 19 seafarer deaths.
07:52
Japan's currency authority spent a record 15.39 trillion yen ($96.5bn) on yen-buying intervention from July 30 to Aug. 26
Japan's currency authority spent a record 15.39 trillion yen ($96.5bn) on yen-buying intervention from July 30 to Aug. 26, marking the largest amount in a single intervention round, Ministry of Finance data showed Friday.
07:47
Capital B raises $24.5M for its Bitcoin treasury from Adam Back and TOBAM; warrants could unlock $158M more
07:43
India's Forex Reserves Hit Record High on Central Bank Measures
India's foreign-exchange reserves climbed to a record high as dollar inflows surged following recent measures by the central bank to attract capital.
07:37
Markets are focused on gaining clarity on inflation ahead of Federal Reserve Chair's speech at Jackson Hole
Bloomberg's Vonnie Quinn discussed with a strategist what markets are looking for from the Federal Reserve Chair's speech at Jackson Hole.
07:35
Moody's upgrades Geely Auto's rating to investment grade Baa3, outlook adjusted to stable
Moody's assigned Geely Auto a Baa3 issuer rating on August 28, while withdrawing its Ba1 corporate family rating, returning it to investment grade. The rating outlook was adjusted from positive to stable. This upgrade enables Geely Auto to access a broader range of funding sources and provides a reference for subsequent bond pricing. Moody's had previously downgraded Geely to Ba1 in April 2024, citing the NEV price war and R&D investment pressures. The current rating recovery is primarily attributed to Geely's improved profitability in the first half of the year, with a 15% increase in revenue and a 46% rise in core net profit attributable to the parent company, as well as an increase in export business and high-end product proportion. Strong operating cash flow and a reduction in debt from RMB 23 billion at the end of 2025 to RMB 13 billion at the end of June this year also contributed to the upgrade.
07:34
Academy Securities' Peter Tchir says US Treasury market dynamics are driven by supply and demand, not bond vigilantes, ahead of Fed Chair Kevin Warsh's Jackson Hole speech.
07:24
China Merchants Bank released its semi-annual report: H1 revenue was 178.181 billion yuan, a year-on-year increase of 4.83%; net profit attributable to the parent company was 76.445 billion yuan, a year-on-year increase of 2.02%.
China Merchants Bank recently released its semi-annual report for 2026. The report shows that in the first half of the year, the bank's net interest income reached 112.022 billion yuan, a year-on-year increase of 5.60%, mainly benefiting from a decrease in the cost rate of interest-bearing liabilities. Wealth management fee and commission income was 16.192 billion yuan, a year-on-year increase of 26.53%, becoming a highlight. As of the end of the reporting period, the monthly active users (MAU) of China Merchants Bank App and "Zhangshang Shenghuo" App reached 124 million, and the total customer deposits exceeded 10 trillion yuan, reaching 10.16 trillion yuan. The non-performing loan ratio was 0.94%, flat with the end of last year, and asset quality remained stable.
07:24
Net profit of Montage Technology increased by 72.3% to RMB 1.997 billion in the first half of the year, with revenue growing by 26.7% to RMB 3.335 billion. AI demand drove record performance in interconnect chips.
Montage Technology's 2026 interim report shows that the company's Q2 revenue reached RMB 1.875 billion, a 28.3% increase quarter-over-quarter; net profit attributable to parent company was RMB 1.150 billion, a 35.7% increase quarter-over-quarter, both setting new single-quarter historical highs. The net profit growth significantly outpaced revenue, mainly due to the optimization of the product mix, which boosted the gross margin of interconnect chips by approximately 5 percentage points to 69.3%, as well as a combined RMB 682 million in investment income and proceeds from the sale of XConn equity. The company plans to distribute a cash dividend of RMB 2 (including tax) per 10 shares. The continuous expansion of AI infrastructure investment has driven a significant increase in PCIe Retimer chip shipments, and the company is already one of the world's major suppliers of PCIe 5.0 Retimer chips. Furthermore, Montage Technology completed its H-share listing on the Hong Kong Stock Exchange in February 2026 and was included in the FTSE A50 Index for the first time.

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