news

Wednesday, September 2

World

France’s debt crisis-in-waitingFT · 1h
Germany loses its shine in the EU’s quest for green investmentFT · 2h
FirstFT: US-Iran hostilities reigniteFT · 2h
US launches further strikes on Iran as conflict flares upFT · 2h

The United States carried out additional airstrikes against targets in Iran as hostilities between the two nations intensified. The escalation has lifted crude‑oil prices and driven U.S. Treasury yields to their highest levels of the day, prompting market participants to voice concerns about a potential new wave of inflation. Analysts note that the renewed fighting raises the risk of a broader regional conflict, while investors watch the impact on energy markets and interest‑rate expectations.

Ukraine considers relaxing curfew rules despite Russian attacksFT · 3h
ECB must be prepared to lift interest rates further, says top policymakerFT · 3h
The wheels are coming off the US world orderFT · 3h
Protecting Tower of London views would make skyscrapers unviable, City warnsFT · 3h
EU accelerates plans to break up diplomatic serviceFT · 3h
‘Plan 2’ graduates earning less than £45,000 are unlikely to clear debtsFT · 3h
How UK-Israel relations reached their worst point in decadesFT · 3h
Want to eat like a real Chicagoan? Go to these three neighbourhoodsFT · 3h
German industry pushes to increase work week to 40 hoursFT · 3h
Poet Arch Hades: ‘I don’t have to share a space with another human being’FT · 3h
The modern face of the debutante ballFT · 3h
Russia’s ‘Trojan horse’ in Italy tests Giorgia MeloniFT · 3h
Advisory firm Interpath looking for its own US dealFT · 3h
National data centre projects are consolidating America’s AI leadFT · 3h
Russia secretly helping Iran develop supersonic missilesFT · 3h
Nepal’s rapper-turned-PM faces Himalaya flood testFT · 5h
Massachusetts’ 80-year-old senator sees off primary challenge over his ageFT · 6h

Incumbent Massachusetts Senator Ed Markey, 80, secured the Democratic nomination in the state’s primary, defeating a moderate challenger who is more than three decades younger. The contest highlighted concerns about the senator’s age, but voters reaffirmed support for Markey, a longtime progressive lawmaker. The primary, part of the regular election cycle, drew attention statewide as observers noted the generational contrast between the candidates. With the victory, Markey will appear on the ballot for the upcoming general election, while the younger opponent will not advance.

The Takaichi revolutionFT · 6h
The Island Paradise That Is a Secret Hub for Russian Sanctions EvasionWSJ · 6h

The Maldives has emerged as a conduit for Western goods destined for Moscow, facilitating the movement of hundreds of millions of dollars in merchandise despite international sanctions on Russia. The island nation’s role as a secret hub highlights challenges in enforcing sanctions and monitoring trade routes used to bypass restrictions.

G-20 Squabbling Overshadows Summit as Global Bond Markets StrainWSJ · 6h
Pentagon chaos deepens after Driscoll quits in clash with HegsethFT · 6h
U.S. and Iran Trade Strikes in Latest Fight for Control of HormuzWSJ · 6h
China derails consensus on communiqué after US-hosted G20FT · 7h

Beijing raised objections to the final G20 communiqué after the summit hosted by the United States, blocking a consensus on language that called for the elimination of “non‑market” policies as a means to curb trade imbalances. The Chinese delegation’s dissent prevented the inclusion of that wording, making China the sole dissenter on the statement. The dispute over the phrasing highlights differing views among the G20 members on how to address perceived distortions in global trade practices.

Tim Cook handed $47mn pay deal as Apple’s executive chairFT · 7h

Apple announced that former chief executive Tim Cook will assume the newly created role of executive chair with a compensation package valued at $47 million. The move is seen as signaling a substantial role for Cook within the company’s leadership. At the same time, Apple’s newly appointed chief executive John Ternus is set to receive a compensation package worth $58 million. Both packages underscore the company’s emphasis on retaining top executives as it navigates its next phase of growth.

Apple Updates Maps to Show Lake America to U.S. UsersWSJ · 9h

Apple has revised its Maps application for iPhone users in the United States to label the body of water previously known as Lake Ontario as “Lake America.” The change mirrors a similar update made by Google to its own mapping service. Both adjustments follow an order issued by President Trump directing the renaming of Lake Ontario. Apple’s update reflects the company’s compliance with the presidential directive and aligns its map data with the new nomenclature for U.S. users. The rename appears in the app’s search results and map labels for locations surrounding the lake.

Opinion | Germany Calls Out Putin’s ‘Hybrid’ WarWSJ · 9h

Germany’s interior minister said the recent drone attack on an airport was carried out by Russia, describing it as part of President Vladimir Putin’s “hybrid” warfare strategy. The minister’s remarks linked the incident to broader Russian tactics that blend conventional and unconventional means. The comment reflects Germany’s stance on attributing hostile actions to Moscow. No further details were provided about the attack or any response. German officials said they will continue to monitor the situation and consider appropriate measures.

Opinion | The ‘Segal Issue’ and U.S.-Canada TradeWSJ · 10h
The Thai Town Hosting the USS Abraham Lincoln After a Grueling DeploymentWSJ · 12h
Germany Blames Russia for Explosive Drones Sent to Leipzig AirportWSJ · 13h
Opinion | Putin Is Testing NATO in a Roundabout WayWSJ · 14h
Opinion | Don’t Rename Lake OntarioWSJ · 15h
The Wartime ‘Coffin Money’ Transforming Russia’s Poorest RegionsWSJ · 15h
Best Car Insurance Companies of 2026WSJ · 16h
Two Tankers Attacked on Midnight Run Through HormuzWSJ · 16h
Oil Prices Rise as Renewed U.S.-Iran Fighting Deepens Hormuz Supply RisksWSJ · 18h
Bank of Canada Expected to Remain On Hold as Trade Conflict With U.S. EscalatesWSJ · 19h
A Food Crawl in Taiwan Finds Chinese Tradition Without the SpectacleWSJ · 20h
These Americans Went to Nepal on a Spiritual Journey. Now They Are Missing.WSJ · 21h
Two U.S. Foes Join Forces—and Threaten to Further Destabilize the Middle EastWSJ · 21h
Londoners Are Stewing Over Supercar Tourists Who Park Wherever They WantWSJ · 21h

Business

Italian Gaming Group Lottomatica to Merge With Spain’s CirsaWSJ · 6m
BP names Ian Tyler as chairFT · 18m
BP Appoints Interim Chairman Ian Tyler to Permanent RoleWSJ · 22m
TPG Files Confidential IPO Application for Malaysia Hospital Assets Valued at Around $8 BillionWSJ · 1h
Germany loses its shine in the EU’s quest for green investmentFT · 2h
FirstFT: US-Iran hostilities reigniteFT · 2h
Back to school: meet PE’s new headmastersFT · 3h
AI sounds the death knell for audit fee inflationFT · 3h
Maersk turns to wind sails to cut fuel for container shipsFT · 3h
Mbappé-backed health start-up expands to west AfricaFT · 3h
German industry pushes to increase work week to 40 hoursFT · 3h
‘All it will take is one screw-up’: AI groups race to limit bioweapon risksFT · 3h
Advisory firm Interpath looking for its own US dealFT · 3h
National data centre projects are consolidating America’s AI leadFT · 3h
1873: The year America ditched silver as money and all hell broke looseFT · 3h
Shein finally launched its cut-price IPO. Now comes the hard partFT · 3h
At G20 Meeting, Scott Bessent Accuses China of Flooding the World With Cheap ExportsNYT · 3h
Missouri Voters Appear to Recall City Councilman Over Data Center SupportNYT · 4h
Apple to Give New CEO $3 Million SalaryWSJ · 4h
Trump Wants Big Oil to Build More Refineries. That’s a Tough Sell.WSJ · 5h
Shein’s Lackluster Debut Shows a Fast-Fashion Model Left BehindNYT · 5h
Volkswagen Fights Chinese Competition—and Its Own Board—in Battle to SurviveWSJ · 6h
The Island Paradise That Is a Secret Hub for Russian Sanctions EvasionWSJ · 6h
Bill Simmons’s Co-Hosts Are Tired of His A.I. AnticsNYT · 6h
Bond Sell-Off Threatens to Squeeze Borrowers Around the WorldNYT · 6h
Can Evan Spiegel Sell the World on $2,195 Smart Glasses?WSJ · 7h
Alimentation Couche-Tard First-Quarter Profit Gains on Fuel Sales GrowthWSJ · 7h
Tim Cook handed $47mn pay deal as Apple’s executive chairFT · 7h

Apple announced that former chief executive Tim Cook will assume the newly created role of executive chair with a compensation package valued at $47 million. The move is seen as signaling a substantial role for Cook within the company’s leadership. At the same time, Apple’s newly appointed chief executive John Ternus is set to receive a compensation package worth $58 million. Both packages underscore the company’s emphasis on retaining top executives as it navigates its next phase of growth.

China’s real robot revolution is not about humanoidsFT · 8h

China is advancing a “real robot” revolution that emphasizes mass production and robust supply‑chain capabilities rather than the development of humanoid machines. By leveraging its capacity to scale manufacturing and coordinate extensive logistics networks, the country aims to reshape the global robotics industry. This strategy positions China to challenge established players worldwide, focusing on practical, high‑volume robot applications that can be rapidly deployed across various sectors.

Germany blames Russia for Leipzig drone attackFT · 8h
A Half-Price Luxury E.V. Comes With a Big AsteriskNYT · 8h

Current incentives have reduced the effective price of the Polestar 4 by roughly fifty percent, prompting analysts to label the deal as a bargain relative to competing luxury EVs. The price cut stems from federal and state tax credits, dealer rebates and promotional financing, which together halve the sticker price. While the vehicle itself receives praise for its solid build and performance, the manufacturer, a Chinese‑owned brand, is confronting regulatory actions that are compelling it to withdraw from the United States market. Industry observers note that the discount may not offset the broader challenges the brand faces in securing a foothold amid heightened scrutiny of Chinese‑owned automotive firms.

US diesel prices soar as Trump hauls in refinersFT · 9h
Palo Alto Projects Double-Digit Growth as AI Drives Cybersecurity SpendingWSJ · 9h
Energy & Utilities Roundup: Market TalkWSJ · 10h
US defends Venezuela deal as Chevron prepares to expand operationsFT · 10h
Music Artists Sue AI Song Generator Suno Over Alleged CopycatsWSJ · 10h
Two More Oil Tankers Are Attacked in the Strait of HormuzNYT · 10h
Dell Technologies Boosts Fiscal Year Outlook by $25 Billion as Server Revenue SurgesWSJ · 10h
Russia secretly helping Iran develop supersonic cruise missilesFT · 11h
Warsh and peaceFT · 11h
The Airline CEO Filling a Spirit-Sized Hole in the MarketWSJ · 12h
David Ellison Is Promising at Least 30 Movies a Year. Hollywood Is Skeptical.WSJ · 13h
What to Know About Venezuelan Energy Following Trump’s Oil DealNYT · 13h
Nestle Inks $1 Billion Deal to Sell Health-Supplements Brands to Private Equity FirmWSJ · 13h
GoPro: a totally normal, unremarkable piece of merger activityFT · 13h
Ozempic Maker Novo Nordisk’s Investors Are Nervously Looking Into the FutureNYT · 13h
How the Pentagon Is Getting Into the Venezuelan Oil Business Under TrumpNYT · 14h
America can’t win the AI race if the rollout lacks public supportFT · 15h

The United States risks lagging behind China in the development of artificial intelligence if the technology is viewed by the public as something imposed on them rather than created with their participation. Analysts warn that without broad public support and engagement, the rollout of AI tools could encounter resistance, slowing adoption and innovation. This perception gap may give China an advantage in the global AI race, highlighting the need for more inclusive and transparent development processes.

Action camera maker GoPro to be acquired after decade-long declineFT · 15h
James Dyson Sold Us on a $400 Hair Dryer. Now He’s Trying a $499 Toothbrush.WSJ · 15h
Satsuki Katayama, the Woman at the Center of Japan’s Currency FightNYT · 16h
Finding the Gap in Crowded CategoriesWSJ · 17h
Swiss finance minister hits out at move to water down UBS capital plansFT · 18h
Oil Prices Rise as Renewed U.S.-Iran Fighting Deepens Hormuz Supply RisksWSJ · 18h
Gap Pushes Into the Lucrative Accessory Business With New HandbagsWSJ · 18h
Gap Pushes Into the Lucrative Accessory Business With New HandbagsWSJ · 18h
China’s NIO Narrows Loss on EV Sales Growth, Expects Volume PickupWSJ · 18h
Frasers Targets Majority Ownership in Hugo Boss, Weighs Support for ChairWSJ · 18h
Saudi and South Korean oil tankers hit in Strait of HormuzFT · 19h
SB Energy Files for IPO With Nvidia BackingWSJ · 19h
Medtronic Lifts Outlook, Invests Over $700 Million in Heart Tech & RoboticsWSJ · 19h
Companies Slash Consumer Choice to Save on Import CostsWSJ · 19h
EY Has New Incentive Plan. ‘Human’ Skills Wanted; SEC Scrutinizing SPVsWSJ · 20h
The Morning Risk Report: FTC Files Lawsuit Alleging Amazon Deceived AdvertisersWSJ · 20h
IKEA Cuts Prices Across Europe as Cost of Living Pressures PersistWSJ · 20h
Fervo Secures Its Largest-Ever Geothermal Power Deal, With GoogleWSJ · 21h

Fervo announced that it has secured its largest‑ever geothermal power agreement, partnering with Google on the project. The deal marks a significant milestone for the company, which counts Bill Gates among its early investors. Fervo went public in May, drawing attention with a high‑profile initial public offering that highlighted its ambitions in renewable energy. The new partnership with Google is expected to expand the firm’s presence in the geothermal sector, although specific details of the agreement were not disclosed.

Fervo Secures Its Largest-Ever Geothermal Power Deal, With GoogleWSJ · 21h

Fervo announced that it has secured its largest‑ever geothermal power agreement, partnering with Google on the project. The deal marks a significant milestone for the company, which counts Bill Gates among its early investors. Fervo went public in May, drawing attention with a high‑profile initial public offering that highlighted its ambitions in renewable energy. The new partnership with Google is expected to expand the firm’s presence in the geothermal sector, although specific details of the agreement were not disclosed.

Europe Protests as U.S. Invites Russian Minister to G20 Finance MeetingNYT · 21h
‘Off the Sidelines’—Lowe’s CEO Marshals Skilled Workers CoalitionWSJ · 21h
Two U.S. Foes Join Forces—and Threaten to Further Destabilize the Middle EastWSJ · 21h
Shein Makes Ho-Hum Market Debut After Years of Geopolitical DramaWSJ · 21h
Jersey Mike’s Is Winning the Sandwich War. It Still Needs to Win Over Gen Z.WSJ · 21h
Retailers Ditch Variety to Beat Supply-Chain Costs and TariffsWSJ · 21h
Swiss Life to Cut Around 600 Positions by the End of 2028WSJ · 22h

Swiss Life announced that it will reduce its workforce by roughly 600 jobs by the close of 2028. The company says the reductions will be carried out mainly through natural attrition rather than outright layoffs. Approximately half of the cuts are slated to occur within its Swiss operations, while the remaining positions will be eliminated from its asset‑management activities abroad. Swiss Life did not provide further detail on the timing or specific functions affected by the plan.

Jollibee Eyes Hong Kong as Listing Venue for Overseas ArmWSJ · 23h

Markets & Economy

Dollar Rises to Highest in Nearly Three Weeks Vs Basket of CurrenciesWSJ · 16m
BP names Ian Tyler as chairFT · 18m
US-China Tensions Simmer at G20 Meeting | The China Show | 9/2/2026BBG · 36m
Yen Gains After BOJ Hawk Leaves Door Open for Outsized HikeBBG · 39m
Global Bonds Are Slumping But It’s Nothing Like the 2022 WipeoutBBG · 52m
Vietnam’s Vingroup Plans Debut Won Bond After Shares Hit RecordBBG · 55m
European Gas Rises Again on Mideast Supply RisksBBG · 1h
Scientech CEO On AI Buildout DemandBBG · 1h
DeepZero Chairwoman on Earnings OutlookBBG · 1h
Nagel Signals ECB Will Hike Next Week, Cautious Beyond ThatBBG · 1h
The Art of the Deal Eludes Trump on Iran as Oil Gains | Insight with Haslinda Amin 9/2/2026BBG · 1h
IMAX China On Summer Box Office TrendsBBG · 1h
Nordea More Upbeat on Nordic Growth Over Efficiency, Tax BreaksBBG · 1h
FTSE 100 Live: UK Stocks Set for Fresh Losses as Inflation Worries RiseBBG · 1h
Woolworths Profit Falls as New CEO Pivots Group Toward FoodBBG · 1h
France’s debt crisis-in-waitingFT · 1h
US, Iran Escalate Attacks; Global Bond Selloff Deepens | The Asia Trade 9/2/2026BBG · 1h
Continental Reinsurance Plans Botswana’s First IPO in Almost a DecadeBBG · 2h
Where Bond Yields Are Heading as Energy Prices RiseBBG · 2h
US-Iran Conflict Intensifies as Trump Downplays Desire for DealBBG · 2h
So how big *was* Bessent’s yentervention?FT · 2h
Climate Risk Is Repricing Indian Real EstateBBG · 2h
US launches further strikes on Iran as conflict flares upFT · 2h

The United States carried out additional airstrikes against targets in Iran as hostilities between the two nations intensified. The escalation has lifted crude‑oil prices and driven U.S. Treasury yields to their highest levels of the day, prompting market participants to voice concerns about a potential new wave of inflation. Analysts note that the renewed fighting raises the risk of a broader regional conflict, while investors watch the impact on energy markets and interest‑rate expectations.

China-US Yield Gap Nears Record High as Treasury Selloff DeepensBBG · 2h
Biggest Thai Fund Sees More Gains for Banks, Data-Center PlaysBBG · 3h
Back to school: meet PE’s new headmastersFT · 3h
Advisory firm Interpath looking for its own US dealFT · 3h
Russia secretly helping Iran develop supersonic missilesFT · 3h
RBNZ Delivers Back-to-Back Hikes in Challenge for Luxon CampaignBBG · 5h
BOJ Board Hawk Takata Leaves Door Open for Outsized Rate HikeBBG · 5h
Australia’s Faster Economic Growth Bolsters Rate-Hike CaseBBG · 5h
Japan Vows to Keep Eye on Yen as Inflation Fears RiseWSJ · 5h
Gold Falls, Weighed by Mideast Conflict, Stronger DollarWSJ · 5h
Insolvent Bathla Faces 24-Hour Deadline for Creditor DealBBG · 5h
The Bond Market Issues World Leaders a Failing GradeWSJ · 6h
Nikkei Falls 2.2%, Dragged by Chip-Related StocksWSJ · 6h
BOJ’s Ueda Hints at September Rate Hike as Bets on Move MountBBG · 6h
Oil Rises Amid Growing U.S.-Iran HostilitiesWSJ · 7h
Bessent Says China Prevented G20 Communique Over Imbalance SpatBBG · 7h
S. Korea’s Inflation Picks Up on One-Off Phone Bill EffectBBG · 8h
A Guide to Owning Bonds When They Are Selling OffWSJ · 8h
Stocks, Bonds Extend Losses as Oil Gains on Iran: Markets WrapBBG · 9h
Latest Oil Market News and Analysis for Sept. 2BBG · 9h
Opinion | Hurray for the Bond MarketWSJ · 9h
5 of the Top Financial Advisor Companies for Retirees: Well-Known Fiduciary Firms to ConsiderWSJ · 9h
U.S. Launches New Strikes on Iranian TargetsWSJ · 9h
US diesel prices soar as Trump hauls in refinersFT · 9h
Germany Plans Measures to Curb China Trade in Coming WeeksBBG · 10h
U.S. Stocks Fall as Oil, Bond Yields Spike, U.S.-Iran War Heats UpWSJ · 10h
Auto & Transport Roundup: Market TalkWSJ · 10h
Basic Materials Roundup: Market TalkWSJ · 10h
US defends Venezuela deal as Chevron prepares to expand operationsFT · 10h
Bond Yields Around the World Soar in Challenge to Government BorrowingWSJ · 10h
Canada Can Ride Out Global Bond Rout, Finance Minister SaysBBG · 10h
Middle East Conflict Sends Oil Up, Bonds DownWSJ · 11h
Warsh and peaceFT · 11h
Oil Prices Push Global Bond Market Closer to the EdgeWSJ · 11h
Natural Gas Futures Edge DownWSJ · 11h
WTI Oil Back At $90 as U.S. Launches More Strikes Against IranWSJ · 11h
Gold Extends Decline on Higher Bond Yields, Oil PricesWSJ · 12h
U.S. Stocks Fall as Oil Surges After New Middle East StrikesWSJ · 12h
Finland Narrows Deficit in 2027 Budget as Economy RecoversBBG · 12h
Governments should heed the bond market’s warningFT · 13h
IMF agrees $2.2bn bailout for SenegalFT · 13h
Bessent Suggests Backing for BOJ Action in Meeting With UedaBBG · 14h
Global bond sell-off deepens amid inflation fearsFT · 14h
Politics keeps European stocks in America’s shadowFT · 14h
Opinion | The FHA Protects Taxpayers and HomeownersWSJ · 14h
Carney Says Trade Talks Can Resume If US Stops ‘Throwing Shade’BBG · 15h
These Banks Are Banding Together to Launch a StablecoinWSJ · 15h
US Job Openings Edge Higher in Sign of Stable Labor DemandBBG · 17h
US Factory Gauge Eases But Holds Close to Four-Year HighBBG · 17h
ECB’s September Hike Won’t Be Enough, Simkus Tells EconostreamBBG · 17h
ECB’s Nagel Says Slowdown in Underlying Inflation Is Good NewsBBG · 17h
Israel Cuts Interest Rates for Third Consecutive MeetingBBG · 17h
Chile Economic Activity Posts Biggest Monthly Drop Since 2022BBG · 18h
Dollar Shows Muted Reaction Following Warsh’s Speech on FridayWSJ · 18h

LGT Private Banking Asia said the medium‑term outlook for the Korean won appears constructive. The statement reflects the bank’s assessment of the currency’s prospects over the coming period. No further details were provided.

Saudi and South Korean oil tankers hit in Strait of HormuzFT · 19h
London Stock Exchange Plans Tokenized TradingWSJ · 19h
Why Andy Burnham should say: Jackdaw yes, Rosebank noFT · 19h
Shein’s unhappy IPOFT · 20h
How to understand the current puzzle in bonds and equitiesFT · 20h
The Morning Risk Report: FTC Files Lawsuit Alleging Amazon Deceived AdvertisersWSJ · 20h
Bond rout raises spectre of Budget tax risesFT · 20h
The Gas-Station Chain That Is Eating Domino’s LunchWSJ · 20h
Jersey Mike’s Is Winning the Sandwich War. It Still Needs to Win Over Gen Z.WSJ · 21h
Private equity firms snap up more London-listed companiesFT · 21h
Shein shares slide as much as 10% in Hong Kong debutFT · 22h

Shein, the fast‑fashion retailer, completed its long‑delayed initial public offering on the Hong Kong Stock Exchange, but the stock fell about 10 percent on its first day of trading. Analysts noted that the listing came at a valuation many observers described as “bargain‑basement,” reflecting concerns over trade and regulatory risks. The share‑price slide marked a muted start for the company’s long‑awaited market debut.

Partners Group replaces chief as fund redemptions weigh on sharesFT · 22h
Stock Market News, Sept. 1, 2026: Oil Surges After New Middle East StrikesWSJ · 22h
European Equities Largely Lower Though AI Stocks GainWSJ · 23h

The Nikkei index slipped about 1.0%, with semiconductor‑related shares bearing the brunt of the fall. Traders cited renewed worries over the conflict in Iran and the prospect of higher energy prices as key factors weighing on sentiment. The broader market followed the chip sector’s decline, pulling Japanese equities lower despite otherwise mixed activity.

How Aston Martin’s latest financing sparked a bondholder revoltFT · 23h

Aston Martin’s recent financing arrangement with BlackRock‑owned credit firm HPS has triggered a revolt among the carmaker’s bondholders. Critics of the deal argue it places undue risk on existing debt holders and could undermine the company’s financial stability. The disagreement has escalated into a high‑stakes legal battle, with bondholders seeking to challenge the terms of the financing and protect their interests. The dispute highlights tensions between luxury‑automaker financing strategies and the expectations of investors holding its bonds.

Tech

AI sounds the death knell for audit fee inflationFT · 3h
‘All it will take is one screw-up’: AI groups race to limit bioweapon risksFT · 3h
National data centre projects are consolidating America’s AI leadFT · 3h
Can Evan Spiegel Sell the World on $2,195 Smart Glasses?WSJ · 7h

Snap Inc. is pressing ahead with a $2,195 smart‑glasses offering even as the company grapples with profitability concerns. CEO Evan Spiegel is doubling down on the hardware initiative, a move that has prompted caution among some investors. The strategy reflects Snap’s broader effort to diversify beyond its core social‑media platform, though the high price tag and uncertain market reception have raised questions about the venture’s financial outlook.

Tim Cook handed $47mn pay deal as Apple’s executive chairFT · 7h

Apple announced that former chief executive Tim Cook will assume the newly created role of executive chair with a compensation package valued at $47 million. The move is seen as signaling a substantial role for Cook within the company’s leadership. At the same time, Apple’s newly appointed chief executive John Ternus is set to receive a compensation package worth $58 million. Both packages underscore the company’s emphasis on retaining top executives as it navigates its next phase of growth.

China’s real robot revolution is not about humanoidsFT · 8h

China is advancing a “real robot” revolution that emphasizes mass production and robust supply‑chain capabilities rather than the development of humanoid machines. By leveraging its capacity to scale manufacturing and coordinate extensive logistics networks, the country aims to reshape the global robotics industry. This strategy positions China to challenge established players worldwide, focusing on practical, high‑volume robot applications that can be rapidly deployed across various sectors.

Opinion | Young Americans and the Flock Camera ControversyWSJ · 8h
Apple Updates Maps to Show Lake America to U.S. UsersWSJ · 9h
Opinion | When AIs Say They’re SentientWSJ · 9h
New Google AI Model Said to Narrow Gap on Coding AbilityWSJ · 10h
New Google AI Model Said to Narrow Gap on Coding AbilityWSJ · 10h
Opinion | Protect the Earth—Build More Data CentersWSJ · 10h
Tech, Media & Telecom Roundup: Market TalkWSJ · 10h
OpenAI to Restrict Astra Model After Rating It ‘Critical’ Cyber RiskWSJ · 10h
Russia secretly helping Iran develop supersonic cruise missilesFT · 11h
The Apple Empire That John Ternus Inherits—by the NumbersWSJ · 11h
The Apple Empire That John Ternus Inherits—by the NumbersWSJ · 11h
AI hits college graduates in the heart of America’s data centre boomFT · 12h
GoPro: a totally normal, unremarkable piece of merger activityFT · 13h
Health Care Roundup: Market TalkWSJ · 14h
America can’t win the AI race if the rollout lacks public supportFT · 15h

The United States risks lagging behind China in the development of artificial intelligence if the technology is viewed by the public as something imposed on them rather than created with their participation. Analysts warn that without broad public support and engagement, the rollout of AI tools could encounter resistance, slowing adoption and innovation. This perception gap may give China an advantage in the global AI race, highlighting the need for more inclusive and transparent development processes.

Outrage Won’t Slow the AI Machine. Cold, Hard Cash Might.WSJ · 15h
Action camera maker GoPro to be acquired after decade-long declineFT · 15h
OpenAI Hits Back at Apple Lawsuit Claiming It Stole Trade SecretsWSJ · 15h
Novartis Pauses Autoimmune Cell Therapy Studies After DeathsWSJ · 16h
How Cloud Pioneer Box Is Evolving With AIWSJ · 17h
The Morning Risk Report: FTC Files Lawsuit Alleging Amazon Deceived AdvertisersWSJ · 20h
When is an engineer not an engineer?FT · 21h
Fervo Secures Its Largest-Ever Geothermal Power Deal, With GoogleWSJ · 21h
‘Off the Sidelines’—Lowe’s CEO Marshals Skilled Workers CoalitionWSJ · 21h
See the New Building Techniques Turbocharging the Data-Center BoomWSJ · 21h
See the New Building Techniques Turbocharging the Data-Center BoomWSJ · 21h

Deal Flow

M&A / Strategic

Aon agreed to acquire insurance brokerage USI Insurance Services from KKR for $17B, including debt20h
Oil field services provider SLB agreed to acquire German cooling equipment maker Kelvion from Apollo in a $3.4B cash deal, including debt20h
Eli Lilly plans to buy Merida Biosciences for $2.9B cash to expand in autoimmune and allergic diseases20h

Eli Lilly announced plans to acquire Merida Biosciences in an all‑cash transaction valued at $2.9 billion. The deal, which would be paid in cash at closing, is intended to broaden Lilly’s portfolio in the autoimmune and allergic disease segments. Merida, a privately held biotechnology company, focuses on developing therapies for these indications. The acquisition follows Lilly’s recent strategy of expanding its presence in specialty therapeutic areas through targeted purchases. Details on the timing of the transaction and any regulatory approvals required have not been disclosed.

Copenhagen Infrastructure Partners acquired full ownership of a major Australian wind and battery project from developer Windlab and secured a $1.2B facility from 10 banks20h
Japan's House Foods Group is considering a sale of $1.1B-listed iconic Japanese curry rice chain CoCo Ichibanya20h
ITC Infotech, the IT unit of Indian conglomerate ITC, will buy a 22% stake in digital engineering company Happiest Minds Technologies for $140M cash and list in India after the deal20h
India's GRT Jewellers will take a 74% stake in Indian jewelry retailer Tribhovandas Bhimji Zaveri for up to $110M followed by mandatory full ownership20h
Zambia's state-owned mining investor ZCCM Investments Holdings is considering a share sale to boost liquidity20h
Yorkville America, the asset manager behind Trump's Truth Social ETFs, is close to an acquisition of an institutional asset management firm in the SMA space20h

VC

Polymarket raised $1B at a $21B post-money valuation led by 1789 Capital20h
Scan.com, a medical imaging infrastructure platform, raised a $90M Series C led by Noteus Partners20h
Reframe Systems, a physical AI company for modular home construction, raised $40M in funding led by Energy Impact Partners20h
Clipto, a video search startup, raised $15M at a $250M valuation from HSG, GL Ventures, Palm Drive Capital, and others20h
Apate.AI, an Australian AI anti-scammer startup, raised an $11.4M seed round led by Lobby Capital20h
Diffraqtion, a quantum camera platforms company for defense and space sensing, raised a $10M pre-seed round led by Ground State Ventures20h
Molten Salt Solutions, an isotope-enrichment company, raised a $7M seed round led by Dolby Family Ventures20h
Hearvana, an auditory intelligence startup, raised a $6M pre-seed round co-led by Point72 Ventures and SCB 10X20h

IPOs / Listings / Issuances / Block Trades

Activist Elliott built a stake in $125B-listed French industrial gas group Air Liquide20h
SHEIN raised $1.75B at a $26.5B valuation in a Hong Kong IPO priced below the top end of a marketed range20h
Tencent-backed Chinese chipmaker Enflame is seeking to raise $910M in its China IPO20h
$25B China-listed chipmaker Longsys is seeking to raise $800M in a Hong Kong listing20h
KKR-backed hair ⁠and nail care firm Wella filed for an IPO20h

Debt

Apollo is looking to turn its $9B stake in pipeline operator Oneok into investment grade debt it can sell to investors20h
Saudi Arabia is in early talks to raise $8B from a fresh loan to diversify funding amid the Iran war20h
Nvidia will buy $3.5B of convertibles in $200B-listed Taiwanese chipmaker MediaTek20h
Emergency household repairs provider HomeServe is in early talks for a $1.8B ABS bond sale to fund a dividend recap to owner Brookfield20h

Bankruptcy / Restructuring / Distressed

Brookfield-owned car dealership software provider CDK Global agreed to subordinate $675M of Brookfield's debt in exchange for a maturity extension20h
Saudi's PGA rival LIV Golf is set to file for bankruptcy after SWF PIF pulled funding and is in talks with BC Partners to help support its slimmed-down 2027 season20h

Funds / Secondaries

Ares raised $3.8B for a Japan-focused logistics fund20h
India's state-owned National Investment and Infrastructure Fund raised $2B for a targeted $3.2B infrastructure fund20h
Tech investor Dragoneer raised a $1B CV for specialty insurance distributor Amwins Group and health tech company PointClickCare; the fund includes stakes in OpenAI, SpaceX, Databricks, and Creative Planning20h
Carrick Capital Partners raised a $600M single-asset CV for identity security company Saviynt led by Coller Capital and HSBC Asset Management20h
India's Spark Capital raised $265M across a new late-stage PE and credit fund20h

Reforma

Detectan anomalías por miles de millones en GobiernoPortada · 4h
Bajan homicidios y delitos de alto impactoPortada · 6h
Niega senador Ochoa que Adán Augusto sea su 'Jefe'Portada · 6h
Poder absoluto le ha servido a Morena para imponer.- ColosioPortada · 7h
Acusa ex secretaria de Manzo despido tras declarar ante FGEPortada · 7h
Entregan Segundo Informe de Sheinbaum al CongresoPortada · 7h
Golpea apagón a la PenínsulaPortada · 20h
El reparto... por WhatsPortada · 20h

El senador de Hidalgo, Cuauhtémoc Ochoa, solicitó a Adán Augusto, a través de un intercambio de mensajes por WhatsApp, la autorización para asumir la dirección de la Comisión de Bienestar. La petición se realizó en un diálogo digital entre ambos funcionarios.

Contrata Mara en Q. Roo a factureras de huachicolPortada · 20h
Sube deuda pública 32.6% durante la 4TPortada · 20h