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8/31
19:08
In their new book, "The Next China Is Still China: The Insider's Guide to Winning in a New Era," Joe Ngai, a senior partner and chairman of McKinsey & Company Greater China, and Nick Leung, point out that despite the current softness in the Chinese consumer market, the ongoing real estate downturn, and supply chain diversification, China's dominant position in global manufacturing and its investment in frontier technologies are key factors. Ngai states that multinational corporations' current disappointment is a result of the contrast with their market share dominance in China over the past 20 years. To win in the long term, companies need to invest in China to maintain relevance in its vast consumer market and, in turn, enhance their ability to compete with Chinese companies in other countries.
19:02
US Treasury Secretary Scott Bessent's interventionist summer has led to pushback and questions about his credibility in financial markets. Ahead of the G20 finance ministers' meeting in Asheville, North Carolina, on Monday, Bessent has vowed to return the conversation among top economic policymakers to boosting growth. However, the biggest threats to global growth this year stem from high energy prices due to President Trump's war on Iran and the impact of US tariffs from a new trade war against Canada.
18:52
Donald Trump proposes federal tax incentives to revive the US movie and television industry, claiming tenfold returns for Treasury. He met with Jon Voight and stated that the industry has moved to Canada and other countries, causing significant losses for California. Trump suggests bipartisan legislation to create entertainment jobs in America, with meetings being set up with leaders of both parties.
18:25
Robinhood Chain recorded a record $989 million in single-day DEX trading volume on Friday. Its total value locked (TVL) increased by nearly 100% month-over-month in August, reaching a record $708 million. Stablecoin supply on the chain also rose by 47% month-over-month to approximately $770 million. This growth was notably driven by utility and infrastructure tokens gaining ground on memecoins, with projects like PONS and Delta seeing significant valuation increases.
18:22
According to Bloomberg, John Ternus will officially assume the role of Apple's CEO on September 1. Upon taking office, he will immediately dive into the company's annual fall product launch, which this year will feature an ambitious lineup of new devices, most notably the first foldable iPhone and a smart display capable of recognizing speakers and customizing content.
18:18
Ares Management Corp has raised ¥612 billion ($3.8 billion) for its latest Japan-focused logistics development fund, in the largest closed-end institutional fundraise by its real estate business.
18:05
The U.S. Federal Trade Commission (FTC), joined by attorneys general from 22 states, has filed a lawsuit against Amazon, accusing the e-commerce giant of systematically overcharging 1.2 million advertisers by more than $20 billion since 2019. The complaint, filed Monday in a Seattle federal court, alleges that Amazon inflated advertising prices by manipulating its ad bidding auction mechanism. Amazon denies the claims, stating that its ad auctions saved advertisers $8 billion during the same period. Following this news, Amazon's stock closed down 2.5% on Monday.
18:05
Australia has raised its wheat crop forecast after strong winter rains improved growing conditions, just as the worsening Black Sea crisis creates additional demand for the country’s grain.
17:55
Poland's National Public Prosecutor's Office announced on Monday the launch of an investigation to determine "participation in the activities of foreign intelligence agencies against the Republic of Poland and terrorist crimes," specifically "deliberately using devices containing flammable materials to set fire to the WB Electronics factory." The factory, located south of Warsaw, produces critical drone components for the Polish and Ukrainian armies. No further details were provided, but Russia is widely suspected of carrying out sabotage activities across Europe against facilities supplying Ukraine.
17:55
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced on Monday that they have postponed for the fourth time the submission deadline for additional disclosure requirements for hedge funds (Form PF) to July 1. These disclosures are intended to provide agencies with information on firms' financial health during periods of market volatility to help officials understand market conditions that could lead to systemic financial risk, such as counterparty risk, sudden margin calls, or any significant adverse events affecting private funds.
17:51
Russian Finance Minister Anton Siluanov was excluded from the group photo, despite having a "productive" meeting with US Treasury Secretary Scott Bessent.
17:25
Chinese President Xi Jinping and Russian President Vladimir Putin reaffirmed their strategic alliance on Monday during a meeting on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Kyrgyzstan. This was their first meeting since May. Xi told Putin that bilateral ties between Beijing and Moscow have grown "more solid" despite increased "uncertainty and unpredictability in the international order." Putin agreed, stating that "cooperation is successfully developing on all fronts."
17:24
Lebanese President Joseph Aoun on Monday met with Greek President Konstantinos Tasoulas in Athens, requesting Greece's assistance in implementing the US-brokered framework agreement between Lebanon and Israel. This move came hours after Greece and Israel announced a multi-billion dollar arms deal. The agreement aims to end hostilities, including disarming Hezbollah, Israel's withdrawal from southern Lebanon, and the deployment of the Lebanese army to the region. Aoun emphasized that the agreement cannot be implemented unilaterally and requires mutual compliance from both sides, seeking Greece's help in ending Israel's occupation of southern Lebanon and the conflict with Hezbollah. Greek Prime Minister Kyriakos Mitsotakis stated that Greece supports Lebanon's sovereignty, independence, and unity, and will back all efforts aimed at de-escalation and mutual understanding.
17:22
The House Permanent Select Committee on Intelligence issued a new report urging U.S. spy agencies to better prepare for "Black Swan" artificial intelligence risks, cautioning that the technology could be leveraged by terrorists or adversaries to develop more dangerous weapons and plot deadlier attacks. Lawmakers believe existing safeguards may not be enough to keep up with AI's rapid advances, and that frontier large language models could significantly ease the development of destructive attacks by rogue actors. The committee broadly found that the U.S. faces a threat environment as complex and dangerous as any since September 11, 2001, with serious gaps remaining in its ability to confront these vulnerabilities.
17:19
Rising interest rates have increased companies' cost of capital and investors' demanded returns in recent weeks, exacerbating volatility caused by sharp fluctuations in artificial intelligence stocks.
17:06
Donald Trump stated on Monday that such rapid economic growth should not prompt the Federal Reserve to raise interest rates, even if inflation remains above the Fed's 2% target. He argued that successful economic growth would not lead to inflation and called for the United States to have the lowest interest rates globally. Since World War II, the U.S. real GDP has reached or exceeded an annualized growth rate of 20% only once, in the third quarter of 2020, when the economy rebounded after pandemic lockdowns with an annualized growth rate of 34.9%.
17:03
Israeli forces demolished Palestinian homes in Nablus, while settlers cleared land in Hebron to establish a new outpost. These settlement expansions, land confiscations, and demolition operations are strengthening Israel's control over Palestinian land in the occupied West Bank.
17:03
Jollibee, the Manila-based fast-food giant, operates over 10,700 stores across 20 brands in 33 countries. The company is actively expanding its international presence, aiming to attract non-Filipino consumers rather than solely relying on the overseas Filipino diaspora market.
17:01
Emergency home repair services provider HomeServe is in early discussions with lenders to pay its owner, Brookfield Asset Management Ltd., a $600 million dividend through an asset-backed transaction, according to people familiar with the matter. HomeServe is issuing $1.8 billion in asset-backed bonds through a whole-business securitization led by Jefferies Financial Group Inc.
17:01
Middle East oil producers are increasingly using ship-to-ship transfers to move crude out of the Persian Gulf, sidestepping Iranian threats and attacks. This maneuver has led to a recent increase in crude flow through the Strait of Hormuz, contributing to the stabilization of crude-futures prices.
16:58
Donald Trump stated that he has great respect for Federal Reserve Chairman Kevin Warsh and believes Warsh would do his duty. However, he also pointed out that he believes interest rates in the United States are too high.

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