news

Wednesday, September 2

World

Why Washington’s ‘Economic D-Day’ Against Iran Faces Steep OddsWSJ · 9m
Plane Carrying Homeland Security Chief Markwayne Mullin Makes Emergency LandingWSJ · 16m
Saudi Nuclear Agreement Could Open a Path to 20% EnrichmentWSJ · 20m
FirstFT: Xi Jinping visits Egypt in rare foreign travel tourFT · 27m
Struggling Republicans urge Trump to open Maga Inc’s $400mn war chestFT · 27m
Opinion | The Fight to Get the U.N. Out of LebanonWSJ · 41m
Opinion | Defunding the U.S. MilitaryWSJ · 41m
Opinion | What Is Canada, Other Than the Un-America?WSJ · 1h
Opinion | Iran Regime Change Returns—AgainWSJ · 1h
Chevron to double Venezuela oil production with $7bn pledgeFT · 1h
Pentagon chaos deepens after Driscoll quits in clash with HegsethFT · 1h
JPMorgan curbed lending to Jane Street as trading firm muscled into bondsFT · 1h
Burnham and Macron meet as Bayeux Tapestry unveiledFT · 1h
Burnham seeks to protect UK farming and steel in EU reset talksFT · 2h
Google spared break-up of online advertising monopolyFT · 2h
Zelenskyy rebukes spy agencies after Kyiv shootoutFT · 2h
Students and opposition activists targeted with spyware in SerbiaFT · 2h
Trump administration backs OpenAI in New York Times copyright battleFT · 3h
Winter Is Approaching and Europe Is Running Low on Natural GasWSJ · 3h
After 286 Days at Sea, 5,000 Sailors on the USS Abraham Lincoln Get a Break in ThailandWSJ · 3h
Badenoch sharpens her attack on Burnham by calling him the ‘people pleaser’FT · 4h
Russia Is Testing NATO’s Ability to Hold Back From a Hot WarWSJ · 4h
Gunfight in Kyiv Deepens Feud Between Ukraine’s Powerful Spy AgenciesWSJ · 4h
EU accelerates plans to break up diplomatic serviceFT · 4h
The wrong way to revive Venezuela’s economyFT · 4h
China’s Xi Bolsters Mideast Ties With Egypt Visit Ahead of Planned U.S. TripWSJ · 5h
How refugee camps become mini-economiesFT · 5h
Energy price surge hits bond markets as European gas reaches three-year highFT · 5h
California opines on who profits from wildfires but not on who paysFT · 5h
Opinion | The Navy’s Overstretched Carrier FleetWSJ · 5h
The Restore Britain backer who once gave money to the Lib DemsFT · 5h
Himalayan Disaster Tests China’s Clout as Regional LeaderWSJ · 5h
Morocco in spotlight as Spanish police report sparks Ceuta blame gameFT · 5h

Spain’s interior minister has pressed the police chief for clarification after a police probe allegedly implicated Moroccan security forces in organizing the recent surge of migrants reaching the country. The minister’s request for answers follows reports that the investigation points to Morocco’s role in the influx, a claim that has heightened diplomatic sensitivities. In parallel, other media outlets have noted that Spanish intelligence has also suggested a Moroccan connection, while separate statements have linked the situation to Israel, according to i24NEWS. The developments have intensified calls for transparency from both the police and the government regarding the origins of the migrant flow.

Uber to axe 10% of its workforce in biggest cuts since pandemicFT · 6h

Uber announced plans to reduce its global workforce by roughly 10%, eliminating about 3,300 positions. The company said the cuts are part of a major restructuring aimed at flattening management layers as competition intensifies in the food‑delivery market and the emerging robotaxi sector. Uber’s move follows similar actions by other tech firms seeking to streamline operations amid heightened rivalry and evolving transportation technologies. The layoffs will affect employees worldwide, though specific timelines and departmental impacts were not detailed.

UK mortgage borrowers urged to lock in deals before rates riseFT · 6h
Tory attempts to repeal the UK Climate Act are tin-earedFT · 6h
Burnham tries to calm bond markets as public spending fears mountFT · 7h
In Daylight Raid Backed by Drones, Israel Seizes Senior Hamas MilitantWSJ · 7h
Dubai’s international schools reopen in test of confidenceFT · 7h
Opinion | Trump’s Policy on Venezuela Could Entrench an OligarchyWSJ · 7h
Ukraine tells airlines to stop using Russian airspaceFT · 8h

Ukrainian President Volodymyr Zelenskyy warned that “safe days in Russia’s skies are over” and urged airlines to stop using Russian airspace. He said the move reflects an intensification of Ukrainian drone operations against Russia and signalled the possibility of additional drone strikes. Zelenskyy also told the International Civil Aviation Organization that Russian airspace is unsafe for civil aviation, calling on carriers to avoid it. The statements were reported by multiple outlets, including the BBC, CNBC, Al Jazeera and others.

Best High-Yield Savings Accounts for September 2026: Up to 4.50%WSJ · 8h
U.S. Says It’s Fed Up With China’s Overcapacity—and More Countries AgreeWSJ · 9h

The United States said it is “fed up” with China’s overcapacity, and a G‑20 statement echoed that criticism by implicitly targeting Beijing’s reliance on exports for growth. The wording, which signals broader international concern, marks a new stage of pressure on China from multiple countries. The statement reflects a growing consensus among major economies that Chinese export‑driven expansion is unsustainable and warrants coordinated scrutiny. No further details on specific actions or agreements were provided.

OpenAI Lawsuits Mount Over Canadian School ShootingWSJ · 10h

New lawsuits have been filed against OpenAI, bringing the total number of cases that question the safety of its products to at least 30. The latest filings are linked to the Tumbler Ridge school shooting in British Columbia, Canada, and were filed by a law firm on behalf of survivors and other plaintiffs. The suits allege that OpenAI executives prioritized the company’s image over safety concerns related to the incident. The litigation adds to earlier claims that the chatbot maker’s technology may have contributed to the mass‑shooting.

UK Prime Minister Says Government Will Be ‘Grounded in Fiscal Responsibility’WSJ · 10h
Germany Blames Russia for Explosive Drones Sent to Leipzig AirportWSJ · 12h
Treasury Yields Hit New Highs as World Leaders Squabble at Fractured G-20WSJ · 12h
The Island Paradise That Is a Secret Hub for Russian Sanctions EvasionWSJ · 21h

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 · 21h
The Island Paradise That Is a Secret Hub for Russian Sanctions EvasionWSJ · 21h

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.

U.S. and Iran Trade Strikes in Latest Fight for Control of HormuzWSJ · 21h
U.S. and Iran Trade Strikes in Latest Fight for Control of HormuzWSJ · 21h

Business

Plane Carrying Homeland Security Chief Markwayne Mullin Makes Emergency LandingWSJ · 16m
Energy & Utilities Roundup: Market TalkWSJ · 1h
Chevron to double Venezuela oil production with $7bn pledgeFT · 1h
JPMorgan curbed lending to Jane Street as trading firm muscled into bondsFT · 1h
Five Below Raises Outlook as Sales GainWSJ · 1h
Broadcom Third-Quarter Profit Soars on AI-Driven Revenue GrowthWSJ · 1h
HPE Boosts Outlook as AI Demand Drives Surge in Third-Quarter ProfitWSJ · 1h
Investors Still on Edge Over War, Debt and InflationNYT · 1h
Google Avoids Breakup of Dominant Ad BusinessWSJ · 1h
Southwest to Open Premium Airport Lounges Across the CountryNYT · 2h
Google spared break-up of online advertising monopolyFT · 2h
Thoma Bravo-Owned Proofpoint in Advanced Talks to Buy VaronisWSJ · 2h
U.S. Government Backs OpenAI in Copyright Fight With PublishersWSJ · 3h
Trump administration backs OpenAI in New York Times copyright battleFT · 3h
Trump’s Tactics to Lower Beef Prices and Appease Ranchers Fall ShortNYT · 3h
Chevron to Invest $7 Billion in Venezuela, Doubling ProductionWSJ · 3h
FiveThirtyEight’s Podcast Hosts Reunite for a New ShowNYT · 4h
The wrong way to revive Venezuela’s economyFT · 4h
Uber’s $15 Billion Takeover Bid Gets Delivery Hero Board BackingWSJ · 5h
BP gets the chair it wants rather than the one it neededFT · 5h
Two More Oil Tankers Are Attacked in the Strait of HormuzNYT · 5h
California opines on who profits from wildfires but not on who paysFT · 5h
Aurora Cannabis Rejects Curaleaf Offer as InadequateWSJ · 5h
AI spots cyber gaps faster than financial firms can fix themFT · 5h
Chevron Expansion in Venezuela Extends U.S. Influence Over Oil RichesNYT · 5h
Uber to axe 10% of its workforce in biggest cuts since pandemicFT · 6h

Uber announced plans to reduce its global workforce by roughly 10%, eliminating about 3,300 positions. The company said the cuts are part of a major restructuring aimed at flattening management layers as competition intensifies in the food‑delivery market and the emerging robotaxi sector. Uber’s move follows similar actions by other tech firms seeking to streamline operations amid heightened rivalry and evolving transportation technologies. The layoffs will affect employees worldwide, though specific timelines and departmental impacts were not detailed.

Employer Health Costs Are Expected to Spike in 2027NYT · 6h
U.S. Crude Oil Stockpiles See Larger-Than-Expected DropWSJ · 6h
Global Bond Rates Are Rising. What Should You Do Now?NYT · 6h
UK mortgage borrowers urged to lock in deals before rates riseFT · 6h
ENRC settles with UK prosecutors and former lawyers over abandoned probeFT · 6h
A vital tenet of US equity markets is under threatFT · 7h
Japan Activation Capital Pushing Companies to Take Risks, From WithinWSJ · 7h
Opinion | Aluminum Tariffs Harm U.S. ManufacturersWSJ · 7h
Opinion | Trump’s Policy on Venezuela Could Entrench an OligarchyWSJ · 7h
Advent International Looking for More Australia, New Zealand Healthcare OpportunitiesWSJ · 8h
Southwest Airlines Jumps Into the Airport Lounge CompetitionWSJ · 8h
Southwest Airlines Jumps Into the Airport Lounge CompetitionWSJ · 8h
Ukraine tells airlines to stop using Russian airspaceFT · 8h

Ukrainian President Volodymyr Zelenskyy warned that “safe days in Russia’s skies are over” and urged airlines to stop using Russian airspace. He said the move reflects an intensification of Ukrainian drone operations against Russia and signalled the possibility of additional drone strikes. Zelenskyy also told the International Civil Aviation Organization that Russian airspace is unsafe for civil aviation, calling on carriers to avoid it. The statements were reported by multiple outlets, including the BBC, CNBC, Al Jazeera and others.

How to Spend Six Years Inventing a $499 Toothbrush With ‘No Idea’ of the MarketWSJ · 8h
Brown-Forman Quarterly Sales Slip on Tequila SlowdownWSJ · 8h
FT Wealth: SeptemberFT · 9h
Saturday Evening Post Will Stop Printing After 205 YearsNYT · 9h
Bill Simmons’s Co-Hosts Are Tired of His A.I. AnticsNYT · 9h
AIG’s Zaffino Stepping Down as Chairman, Joining PalantirWSJ · 10h
OpenAI’s Astra Model Can Hack With Minimal Human HelpWSJ · 10h
Trucking Crackdown Accelerates in U.S.WSJ · 11h
The Morning Risk Report: The Island Paradise That Is a Secret Hub for Russian Sanctions EvasionWSJ · 11h
Indonesia’s lessons for the global energy transitionFT · 11h
How Brunswick Is Using AI and Marine Cruise Control to Raise Prices on BoatsWSJ · 11h
AI Startup Wonderful Hits $5 Billion Valuation, Plans 1,000-Strong TeamWSJ · 11h
FirstFT: US-Iran hostilities reignite surge in energy pricesFT · 12h
Ford aims for Nato defence deals as it bids to build UK’s new military vehicleFT · 12h
The best, worst and strangest ways AI is really being used at workFT · 12h
Treasury Yields Hit New Highs as World Leaders Squabble at Fractured G-20WSJ · 12h
Soccer Metaphors, Sunday Calls—How Voya’s CEO Guides Her TeamWSJ · 12h
Ryanair Cuts Traffic Target to Reduce Exposure to Unhedged Winter OilWSJ · 12h
Your Nonalcoholic Beer May Actually Have Some Alcohol in ItWSJ · 12h
Elon Musk Wants to Make Power-Turbine Components. It Won’t Be Easy.WSJ · 12h
Your Nonalcoholic Beer May Actually Have Some Alcohol in ItWSJ · 12h
Get to Know Your Phone’s Built-In Emergency KitNYT · 13h
Inside the Fight Against a Flesh-Eating Fly in MexicoNYT · 13h
The Conservative Radio Hosts Dominating the AirwavesWSJ · 13h
The Conservative Radio Hosts Dominating the AirwavesWSJ · 13h
Ryanair warns of higher fares as it cuts winter flightsFT · 13h
BP Names Replacement for Chairman Ousted Over Bullying ConcernsWSJ · 14h
EV batteries last longer than drivers fearedFT · 14h
Volvo Car Sales Slip on China, U.S. WeaknessWSJ · 14h
Bvlgari’s Laura Burdese: ‘We don’t have this anxiety to keep on launching things’FT · 15h
Italian Gaming Group Lottomatica to Merge With Spain’s CirsaWSJ · 15h
BP names new chair as it tries to move on from Albert ManifoldFT · 15h
TPG Files Confidential IPO Application for Malaysia Hospital Assets Valued at Around $8 BillionWSJ · 16h
Germany loses its shine in the EU’s quest for green investmentFT · 17h
Back to school: meet PE’s new headmastersFT · 18h
AI sounds the death knell for audit fee inflationFT · 18h
At G20 Meeting, Scott Bessent Accuses China of Flooding the World With Cheap ExportsNYT · 18h
Missouri Voters Appear to Recall City Councilman Over Data Center SupportNYT · 19h
Apple to Give New CEO $3 Million SalaryWSJ · 19h
Apple to Give New CEO $3 Million SalaryWSJ · 19h
Trump Wants Big Oil to Build More Refineries. That’s a Tough Sell.WSJ · 20h
Shein’s Lackluster Debut Shows a Fast-Fashion Model Left BehindNYT · 20h
Volkswagen Fights Chinese Competition—and Its Own Board—in Battle to SurviveWSJ · 21h
The Island Paradise That Is a Secret Hub for Russian Sanctions EvasionWSJ · 21h
Volkswagen Fights Chinese Competition—and Its Own Board—in Battle to SurviveWSJ · 21h
Bond Sell-Off Threatens to Squeeze Borrowers Around the WorldNYT · 21h
Can Evan Spiegel Sell the World on $2,195 Smart Glasses?WSJ · 22h
Alimentation Couche-Tard First-Quarter Profit Gains on Fuel Sales GrowthWSJ · 22h
A Half-Price Luxury E.V. Comes With a Big AsteriskNYT · 23h

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.

Markets & Economy

The WSJ Dollar Index Falls 0.21% to 95.70WSJ · 49m
NBA Suspends Clippers Owner Ballmer After Leonard Salary ProbeBBG · 1h
Basic Materials Roundup: Market TalkWSJ · 1h
Shaquille O’Neal Kicks off College Tour on CreditBBG · 1h
Deadly Flooding in Nepal Highlights Asia’s Climate VulnerabilityBBG · 1h
Auto & Transport Roundup: Market TalkWSJ · 1h
Japanese Companies Consider Asset Sales as Yen Debt Costs RiseBBG · 1h
Australian Earnings Beat Estimates for First Time in Four YearsBBG · 1h
Financial Services Roundup: Market TalkWSJ · 1h
Energy & Utilities Roundup: Market TalkWSJ · 1h
Chevron to double Venezuela oil production with $7bn pledgeFT · 1h
U.S. Stocks Rise as Oil Gains on Iran EscalationWSJ · 1h
JPMorgan curbed lending to Jane Street as trading firm muscled into bondsFT · 1h
Founder of Private-Company Investment Firm Charged With Defrauding InvestorsWSJ · 1h
Stocks Rebound as Oil Prices Stay Elevated | Closing BellBBG · 1h
Stocks Rise As Middle East Tensions FrayWSJ · 2h
Musk Ally Anthony Armstrong Joins Coinbase’s Board of DirectorsBBG · 2h
Aurora Cannabis Board Recommends Rejecting Curaleaf BidBBG · 2h
AI Investments, Record M&A, Angels Sold | Bloomberg Deals 9/2/2026BBG · 2h
Canada Blew Up Trade Deal at Last Minute, Lutnick SaysBBG · 2h
Elliott Builds Deutsche Telekom Stake, Opposes T-Mobile MergerBBG · 2h
Thoma Bravo-Owned Proofpoint in Advanced Talks to Buy VaronisWSJ · 2h
U.S. Natural Gas Futures Rise Ahead of Storage DataWSJ · 2h
Oil Futures Extend Gains on Renewed U.S.-Iran StrikesWSJ · 2h
Anthropic’s Mega-IPO Plan Looms Over IPO MarketBBG · 2h
US Will Not Tackle Debt Until Republicans, Democrats Come Together, Says Rep. ArringtonBBG · 2h
MLB's Angels Sold For Record $4BBBG · 2h
Fed Beige Book Shows Modest Growth, Mixed SentimentBBG · 3h
KKR Scores Windfall in $17B Sale of USI InsuranceBBG · 3h
U.S. Stocks Climb as Bond Yields Stay in SpotlightWSJ · 3h
Winter Is Approaching and Europe Is Running Low on Natural GasWSJ · 3h
Fed’s Beige Book Shows Economic Activity Up ModestlyBBG · 3h
Gold Futures Edge Up as Treasury Yields EaseWSJ · 4h
Highlights From the Messy Divorce Trial of a Hedge-Fund TitanWSJ · 4h
Dutch central bank moves gold bars out of New York over ‘geopolitical unrest’FT · 4h
The wrong way to revive Venezuela’s economyFT · 4h
Energy price surge hits bond markets as European gas reaches three-year highFT · 5h
BP gets the chair it wants rather than the one it neededFT · 5h
Fed Watchdog Flags Questions Around Confidential InformationBBG · 5h
AI spots cyber gaps faster than financial firms can fix themFT · 5h
US Lawmakers Pass Africa Trade Preference Extension to 2028BBG · 6h
Energy Prices Surge, Reviving Inflation Fears as Winter NearsBBG · 6h
In Surprise Twist, California Lawmakers Fail to Pass Watered-Down Wildfire BillWSJ · 6h
Borrowing Isn’t the Bond Market’s Only Concern—Growth Is TooWSJ · 6h
Danish Central Bank Intervenes Again to Defend Currency PegBBG · 6h
Burnham tries to calm bond markets as public spending fears mountFT · 7h
A vital tenet of US equity markets is under threatFT · 7h
Bessent Leaves BOJ in No-Win Situation Over Japan Rate HikesBBG · 7h
S&P 500 Rises to Snap Three-Day Skid as Oil Prices Halt AdvanceBBG · 8h
Investor David Booth on Life, Stocks and (Not) Trying to Beat the MarketWSJ · 8h
Yen Surge Keeps Traders on Alert for Further Official ActionBBG · 8h
Bank of Canada Holds Rates and Flags Inflation Risks; Bonds DropBBG · 8h
Spain’s Push on Undocumented Migrants Distorts Labor StatisticsBBG · 8h
Fed’s Warsh Lays Out Data Dashboard to Read US EconomyBBG · 8h
Fed’s Williams Says Inflation Continuing to Trend DownBBG · 9h
ADP Says US Companies Added 38,000 Jobs in AugustBBG · 9h
Dutch Shift Gold to London From US on Geopolitical UnrestBBG · 9h
US Companies Added 38,000 Jobs in August, ADP Data ShowBBG · 9h
What Japan’s bond sell-off means for global marketsFT · 10h
Apollo’s Slok Says US Yields Set to Rise on Iran War, TariffsBBG · 10h
G20 Examines Debt Distress in Others, While Ignoring Own ChallengesBBG · 11h
Indonesia’s lessons for the global energy transitionFT · 11h
Broadcom Needs Nvidia-Like Earnings to Stop $520 Billion SkidBBG · 11h
Ghana Inflation Resumes Upswing, Supports Case for Rate HoldBBG · 11h
Broadcom’s AI Success Story Gets ComplicatedWSJ · 11h
Elon Musk Wants to Make Power-Turbine Components. It Won’t Be Easy.WSJ · 12h
Stock Market Today: Treasury Selloff Pauses While Stocks RiseWSJ · 13h
European Equities Mixed in Muted TradeWSJ · 14h
BP names new chair as it tries to move on from Albert ManifoldFT · 15h
France’s debt crisis-in-waitingFT · 16h
So how big *was* Bessent’s yentervention?FT · 17h
Back to school: meet PE’s new headmastersFT · 18h
Advisory firm Interpath looking for its own US dealFT · 18h
Russia secretly helping Iran develop supersonic missilesFT · 18h
Shein finally launched its cut-price IPO. Now comes the hard partFT · 18h
Japan Vows to Keep Eye on Yen as Inflation Fears RiseWSJ · 20h
Gold Rises as Dollar Pushes Lower While Traders Weigh Fed PathBBG · 22h
Bessent Says China Prevented G20 Communique Over Imbalance SpatBBG · 22h
A Guide to Owning Bonds When They Are Selling OffWSJ · 23h

Tech

Tech CEOs, Trump Administration Ask G-20 to Adopt Pro-AI PoliciesWSJ · 18m
Microsoft to Change Reporting Structure to Reflect Effects of AIWSJ · 49m
Health Care Roundup: Market TalkWSJ · 1h
Google Avoids Breakup of Dominant Ad BusinessWSJ · 1h
Google spared break-up of online advertising monopolyFT · 2h
Students and opposition activists targeted with spyware in SerbiaFT · 2h
U.S. Government Backs OpenAI in Copyright Fight With PublishersWSJ · 3h
Trump administration backs OpenAI in New York Times copyright battleFT · 3h
Time is running out for the leap secondFT · 4h
New York City Temporarily Bans AI in Classrooms Through Middle SchoolWSJ · 4h
AI spots cyber gaps faster than financial firms can fix themFT · 5h
Uber to axe 10% of its workforce in biggest cuts since pandemicFT · 6h

Uber announced plans to reduce its global workforce by roughly 10%, eliminating about 3,300 positions. The company said the cuts are part of a major restructuring aimed at flattening management layers as competition intensifies in the food‑delivery market and the emerging robotaxi sector. Uber’s move follows similar actions by other tech firms seeking to streamline operations amid heightened rivalry and evolving transportation technologies. The layoffs will affect employees worldwide, though specific timelines and departmental impacts were not detailed.

Nvidia and CrowdStrike Develop New Cybersecurity AI ModelsWSJ · 9h
Germany blames Russia for Leipzig drone attackFT · 10h
AI Startup Wonderful Hits $5 Billion Valuation, Plans 1,000-Strong TeamWSJ · 11h
Broadcom’s AI Success Story Gets ComplicatedWSJ · 11h
The best, worst and strangest ways AI is really being used at workFT · 12h
AI sounds the death knell for audit fee inflationFT · 18h
The race to stop AI from designing bioweaponsFT · 18h
National data centre projects are consolidating America’s AI leadFT · 18h
Can Evan Spiegel Sell the World on $2,195 Smart Glasses?WSJ · 22h

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.

Can Evan Spiegel Sell the World on $2,195 Smart Glasses?WSJ · 22h

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 · 22h

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 · 23h

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 · 23h

Deal Flow

M&A / Strategic

US oil company North American Blue Energy Partners will take over some Venezuela oilfields previously controlled by Chinese and Russian firms11h
Kroenke Sports & Entertainment will acquire MLB team Los Angeles Angels from the Moreno family at a $4B valuation11h
UK retailer Frasers Group plans to raise its stake in $3B-listed Hugo Boss from 48% to above 50% after its recent cash bid fell short of control11h
Veritas Capital will acquire UK industrial heat treatment specialist Bodycote for $2.2B after raising its bid above CVC's11h
HSBC joined a race against Brookfield, Warburg Pincus, EQT, CVC, Permira, Chrys Capital, and General Atlantic for a 54% stake in India's Nuvama Wealth and Investment from Asian PE firm PAG, which could fetch a $1.8B valuation11h
Azerbaijan's state-owned oil firm SOCAR will acquire stakes in Comstock Resources' Haynesville shale assets and related midstream business for $1.65B cash11h
PE firm Epiris agreed to buy UK's Gamma Communications for $1.4B following a months-long takeover saga11h
Yellow Wood Partners will acquire food giant Nestle's mainstream vitamins and supplements business for $1B11h
H.I.G. Capital is exploring a $1B sale of drug manufacturer Rising Pharmaceuticals11h
Yogurt maker Chobani will re-acquire a stake from Keurig Dr Pepper along with a manufacturing facility for $925M11h
$600M-listed Mexican telecoms provider Axtel will allow Flō Networks to compete in bidding against a group led by co-chairman Tomás Milmo Santos for 100% of the firm11h
Student housing operator The Scion Group and Ares bought four student housing communities in the South from Schenk+ for $435M11h
Norwegian oil firm DNO agreed to buy UK's Capricorn Energy for $395M after outbidding rival Genel Energy11h
Starman Optical will acquire GoPro for $285M cash at a 30% premium11h
Shell will take full ownership of Tennessee-based convenience store operator Tri Star Energy from majority owners The Parman Corporation and Kimbro Oil Company11h
UAE developer Binghatti is in talks with a major entity on partnerships worth billions of dollars after it suspended IPO plans11h
French lender SocGen will acquire telecom Altice's 50% stake in OXG, a German fiber JV with Vodafone11h
South African grocer Shoprite acquired the Vida e Caffè coffee chain and a majority stake in telecom vending machine firm R&A Cellular11h
Bombardier will acquire a Canadian factory from supplier Mitsubishi Heavy Industries11h

VC

AI coding startup Cognition is set to raise a $1B round at a $47B valuation11h
Cornerstone Robotics, a Hong Kong–based surgical robotics company, raised a $700M strategic investment from Medtronic11h
Israeli HR software firm HiBob raised a $166M round at an over $3.2B valuation led by Salesforce11h
Felix Pago, a stablecoin remittance company, raised a $200M Series B led by a16z11h
Physical Superintelligence, an AI-native physics lab and virtual physicist platform, raised a $58M seed round led by Breakthrough Energy Ventures11h
AIR, an AI security startup, raised $50M across two seed rounds led by Sequoia and Greenoaks respectively11h
Light, the power company enabling embedded electricity products for businesses, raised a $46M Series A led by Matrix11h
SciFin, a revenue-context startup for sales and RevOps, raised a $44M seed round co-led by Altimeter and Madrona11h
Empirik.ai, an autonomous infrastructure engineering startup, raised a $21M seed round from Sequoia, S32, Canapi Ventures, and Alumni Ventures11h
Stack Health, an alternative to group health insurance startup, raised a $21M seed round led by 8VC11h
Norbert Health, a physical AI control system for healthcare, raised a $14M Series A led by William A. Marino with Cardinal Group11h
Aranya, a company converting bare metal into production-ready GPU clusters, raised $11M across a $2M pre-seed led by Asylum Ventures and a $9M seed led by First Round Capital11h
Frontier Computing, a living brain-cell computing startup, raised a $10M pre-seed round led by General Catalyst11h
Visko, an AI research company pioneering Live Models, raised a $10M pre-seed round led by Llama Ventures11h
Entity, a gaming infrastructure startup, raised a $5.8M seed round from Delta Partners, Elkstone Partners, and others11h

IPOs / Listings / Issuances / Block Trades

Indian auto parts maker Victura Technologies is in talks to raise $300M in an India IPO11h
SoftBank-backed data center firm SB Energy filed for an IPO11h
Philippine fast-food giant Jollibee Foods will change its IPO location for its international unit from US to Hong Kong11h

Debt

South Korea plans to sell a near-record $162B of bonds in 2027 to fund fiscal agenda11h
Saudi Arabia sold $3.25B of dollar bonds11h
AI cloud firm Nscale raised a $3B DDTL led by JPMorgan and Goldman Sachs11h

Bankruptcy / Restructuring / Distressed

Senegal's eurobonds fell after it announced a debt restructuring under a G20 framework and agreed to a $2.2B bailout from IMF11h
A judge ruled FDIC isn't required to return $1.7B to creditors of failed Silicon Valley Bank11h
Global steel giant ArcelorMittal dropped its planned takeover of a JV with struggling Italian car part manufacturer CLN-Coils Lamiere Nastri after Italy imposed restrictions, paving way for a domestic rival to take control11h

Reforma

Adquirí lujos por 'patrimonio familiar', dice SecretariaPortada · 1h
Proponen diputados aumentar impuesto a cervezaNacional · 1h
Da Adán Augusto la bienvenida a InzunzaPortada · 2h
Confirma Presidenta pesquisas sobre amigo de 'Andy'Portada · 6h
Preocupa a expertos filtro militar a la IEDPortada · 11h
Pide Sheinbaum humildad, y en turismo puro lujoPortada · 11h
Exhibe apagón fragilidad de la CFE en la PenínsulaPortada · 11h
Más impuestos al alcohol, snacks, sopas, enlatados...Portada · 11h