Top stories
1. Chinese markets lose trillions as race for AI supremacy with US takes its toll
Concerns over AI profitability and Western competition are weighing on China’s tech rally. Trillions of dollars have been erased from Chinese equities in recent months, with the STAR 50 Index down 40% since June.
Source: The Guardian World
2. Australia’s inflation rate rises to 4.3%, fuelling fears of fifth interest rate hike this year
Australia’s headline inflation rose to 4.3%, with underlying inflation at 3.6% annually. The data, released before the Reserve Bank’s meeting next week, has increased expectations of a fifth rate hike this year.
Source: The Guardian World
3. EXCLUSIVE: US, Canada working on deal to ease steel, auto tariffs, sources say - Reuters
Reuters exclusively reports that the US and Canada are working on a deal to ease steel and auto tariffs, according to sources. Details remain unclear, and it is not yet certain whether an agreement will be reached.
Source: Reuters World (via Google News)
World news
1. US bans vehicles from China’s BYD at Japan military base, calling them ‘unacceptable’ risk
The US military has banned BYD electric vehicles from Kadena Air Base in Okinawa, Japan, citing security risks. The restriction, effective this week, also applies to delivery drivers and taxis and has raised speculation that other US military facilities may follow.
Source: The Guardian World
2. Canada, UAE sign trade deal as Carney seeks new trading partners - Reuters
Canada and the UAE signed a trade agreement as Prime Minister Mark Carney pursues new trading partners to diversify the country’s exports. Specific terms of the deal were not immediately disclosed.
Source: Reuters World (via Google News)
3. India should not deplete reserves to defend rupee, ex-RBI chief Rajan says - Reuters
Former RBI Governor Raghuram Rajan said India should not deplete its foreign exchange reserves to defend the rupee, Reuters reported. The comment concerns exchange-rate policy and reserve management.
Source: Reuters World (via Google News)
4. China’s lab-grown diamond makers target AI, chip sectors for next wave of growth - Reuters
Reuters reports that Chinese lab-grown diamond manufacturers are targeting AI and chip sectors for their next growth wave. The move aims to develop new applications and markets for lab-grown diamonds.
Source: Reuters World (via Google News)
5. World to add less clean energy capacity this year, renewables agency chief says - Reuters
The head of the International Renewable Energy Agency said the world will add less clean energy capacity this year, Reuters reported. The report did not specify the size of the decline or the reasons behind it.
Source: Reuters World (via Google News)
6. Alexander brothers each sentenced to 30 years in prison in sex trafficking case
Three Alexander brothers were sentenced to 30 years each in a sex trafficking case. Two were high-profile US real estate moguls. They were convicted of using their social status to lure women to parties and rape them.
Source: BBC World
7. Visa results beat estimates as resilient customers keep up spending - Reuters
Visa reported results that beat market estimates, helped by resilient customer spending. The report indicates consumers kept up spending despite economic uncertainty.
Source: Reuters World (via Google News)
8. Ghanaian twin brothers and US woman plead guilty to $9m romance scam
A group including Ghanaian twin brothers and a US woman pleaded guilty to a $9m romance scam. They targeted elderly people in the US and Europe, luring them into relationships before persuading them to transfer large sums.
Source: BBC World
9. Japanese prosecutors charge US marine suspected of robbing and killing woman
Japanese prosecutors have formally charged a 20-year-old US Marine, Devin Jacob Ballard, with robbing and fatally strangling a 39-year-old woman at a hotel in Okinawa. Ballard denies the charges. The case is now moving through Japan’s judicial process.
Source: The Guardian World
10. Slovenia mourns loss of glacier on its highest peak after scorching summer
The last ice patch of Slovenia’s Triglav glacier has vanished after a scorching summer, scientists say. The glacier, a symbol of national identity, had already lost 93% of its area between 1983 and 2003 but clung on for two more decades.
Source: The Guardian World
11. Melting glaciers in Dolomites reveal cache of first world war munitions
The Italian army said rapidly retreating glaciers in the Dolomites revealed a cache of unexploded First World War munitions this summer, including Italian artillery shells and French mortar bombs. About 250 explosives, encased in ice for over 100 years, were removed and defused after hikers’ sightings.
Source: The Guardian World
12. Dutch zookeeper dies after being mauled by leopard
A female zookeeper at a Dutch zoo has died after being mauled by a leopard. She began working at the park at 17 and had worked there on and off for four decades.
Source: BBC World