Federal Reserve Chairman Powell signaled imminent interest rate cuts at Jackson Hole, leading to stock and bond market rallies, amid ongoing Trump administration pressure on Fed Governor Lisa Cook and debates over central bank independence.

• Jerome Powell Suggests Fed Will Soon Cut Interest Rates in Jackson Hole Speech — The New York Times Business -
• Powell paves the way for Fed rate cut in September — Financial Times -
• Stocks and Bonds Rise After Powell Suggests Interest Rate Cuts Could Be Imminent — The New York Times Business -

• What to Know About the Fed’s Lisa Cook and Mortgage Fraud Allegations — The New York Times Business -
• The twilight of the central banking elite — Financial Times -
• Trump Threatens to Fire Fed Governor Lisa Cook If She Does Not Resign — The New York Times Business -
• Can Trump Fire a Fed Governor? What to Know About the Legal Arguments — The New York Times Business -
• Trump Threatens to Fire Fed Governor Lisa Cook If She Does Not Resign — The New York Times Business -
• Jay Powell Takes Center Stage with Friday’s Jackson Hole Address — The New York Times Business -
• Trump’s Attacks on the Fed and BLS Threaten Key Source of Economic Strength — The New York Times Business -
• FirstFT: Powell’s moment at Jackson Hole — Financial Times -
• Our Jackson Hole speech — Financial Times -

The Trump administration made significant moves, including a **10% US stake in troubled chipmaker Intel and continued delays for the TikTok ban, while new tariffs impacted DHL shipments and sparked Canadian retaliatory tariff drops**.

• Trump, Intel Agree to 10% U.S. Stake as President Promises More Deals — Wall Street Journal -
• US to take 10% stake in troubled chipmaker Intel — Financial Times -
• Nvidia Is Making a New Chip for China Amid Debate on AI Exports — The New York Times Business -

• Tariff revenue will cut US deficits by $4tn, fiscal watchdog says — Financial Times -
• Canada to drop retaliatory tariffs on billions of dollars’ worth of US products — Financial Times -
• Fearing Customs Chaos, DHL Joins Others in Suspending U.S. Shipments — The New York Times Business -
• Trump Signals Fourth Delay of TikTok Ban — The New York Times Business -
• Will Trump avoid a Republican backlash over his tariff plans? — Financial Times -
• U.S. Foreign Trade Zones Draw New Demand as De Minimis Ends — Wall Street Journal -
• Postal services to stop sending low-cost parcels to US as duty exemption ends — Financial Times -
• The Biggest Retailers Are Thriving in the Tariff Economy — Wall Street Journal -

Major developments include Meta licensing AI technology from a startup as in-house models lag, an **ex-employee sentenced for sabotaging a company’s computer network, and Elon Musk's attempts to acquire OpenAI** with Mark Zuckerberg.

• Meta to license AI technology from start-up as in-house models lag rivals — Financial Times -
• Ex-Employee Sentenced to 4 Years for Sabotaging Company’s Computer Network — The New York Times Business -
• Howard Stern Helped Make SiriusXM Billions. Can Podcasts Do the Same? — The New York Times Business -

• Elon Musk Wanted Mark Zuckerberg to Join OpenAI Bid, Court Filing Says — Wall Street Journal -
• TikTok to lay off hundreds of UK moderators as it shifts to AI — Financial Times -
• Hollywood mogul backs Musk brother’s ‘drone entertainment company’ — Financial Times -
• Chinese semiconductor shares surge after DeepSeek gives boost to homegrown chips — Financial Times -
• Musk tried to enlist Zuckerberg in $100bn bid for OpenAI — Financial Times -
• OpenAI and Anthropic clamp down on investment vehicles — Financial Times -

Industries saw varied activity, from Spirit Airlines exploring repeat restructuring and the British government taking control of UK steel companies, to ESPN's new pact with MLB and JPMorgan's settlement of 1MDB claims.

• Spirit Airlines Engages Advisers to Explore Repeat Restructuring — Wall Street Journal -
• Move Over, Mouse Ears: For Disney Adults, There’s a New Obsession — The New York Times Business -
• How Southwest’s New Seating Policy Will Affect Plus-Size Travelers — The New York Times Business -

• British Government Set to Take Control of Sanjeev Gupta’s Speciality Steel UK — The New York Times Business -
• Government supporting four out of six of UK’s steel companies — Financial Times -
• ESPN and MLB Are Closing In on a 3-Year Pact Worth Around $1.65 Billion — Wall Street Journal -
• Reuniting the old crew at a new bank is tough — Financial Times -
• Stockpickers: Rank, International Workspace Group, PensionBee — Financial Times -
• BJ’s Wholesale Club’s Sales Slow as Shoppers’ Frustrations Grow — Wall Street Journal -
• Red Lobster Is Betting on Black Diners With Its Brand Comeback — The New York Times Business -
• JPMorgan to pay $330mn to Malaysia to settle 1MDB claims — Financial Times -
• UK health secretary ends talks with pharma groups on NHS drug pricing — Financial Times -
• Chili’s Pays Fat Bonuses to Staff After Record-Setting Sales — Wall Street Journal -
• Energy Drinks Are Now Offering a Bit of Value Along With That Caffeine Boost — Wall Street Journal -
• China tech billionaire shoots for US-style ‘March Madness’ basketball league — Financial Times -
• UK banks have closed more than one in three branches over past five years — Financial Times -
• Jamie Dimon’s fortress of diamonds — Financial Times -
• Jefferies tells senior bankers to collaborate for biggest bonuses — Financial Times -
• Santander signals Wall St ambition with Spac mandates — Financial Times -
• Fortress JPMorgan: Jamie Dimon’s monument to American finance — Financial Times -

Key international stories include China's refusal to explain London embassy plans, Zelenskyy rejecting Russian security guarantee demands, and a global hunger monitor declaring famine in Gaza.

• China refuses to explain ‘greyed out’ parts of London embassy plan — Financial Times -
• Zelenskyy rejects Russia’s demand to be involved in security guarantees — Financial Times -
• FBI raids home of former Trump national security adviser John Bolton — Financial Times -

• Global hunger monitor declares famine in Gaza — Financial Times -
• Trump must not reward Putin for his aggression in Ukraine — Financial Times -
• UK government to appeal against Epping asylum hotel ruling — Financial Times -
• Development finance: how to get more bang from fewer bucks — Financial Times -
• UK ‘one in, one out’ plan met with scepticism in French migrant camps — Financial Times -
• Failures that haunt UK’s asylum system — Financial Times -
• Ex-Thai PM Thaksin Shinawatra cleared of defaming monarchy — Financial Times -
• Has the UK now found its role in the world? — Financial Times -
• Shipping line denies Iran ties after 16 of its vessels hit with US sanctions — Financial Times -
• India dogged by Trump spotlight on Russian oil — Financial Times -

Political discourse saw California Governor Gavin Newsom trolling Trump, **concerns over California’s high-speed rail finances, and a controversial appointment of a Covid vaccine opponent** to a federal review team.

• Opinion | California’s Train Robbery Gets Worse — Wall Street Journal -
• Gavin Newsom holds mirror to Maga by trolling Trump — Financial Times -
• Chris Wallace, a CBS News Scion, Is Advising Its New Owner — The New York Times Business -

• Covid Vaccine Opponent Tapped to Lead Federal Review Team — The New York Times Business -

Global markets faced challenges as Germany fell into recessionary territory, investors debated the longevity of the top-heavy US stock market, and analysts pondered gold's performance and emerging markets' rise.

• Gold diggers follow the money — Financial Times -
• Germany falls back into ‘recessionary territory’ as second-quarter GDP revised down — Financial Times -
• How Long Can This Uncanny Stock Market Prosper? — The New York Times Business -

• Fiscal dominance and the unexpected rise of emerging markets — Financial Times -
• Faultlines in financial system could be exposed by regulatory arbitrage — Financial Times -

Discussions centered on solar and wind power thriving without subsidies despite Trump's attacks on the renewables sector, and Taiwan considering a return to nuclear power amidst AI demand.

• Why Solar and Wind Power Can Thrive Without Subsidies — Wall Street Journal -
• UN agencies urge employers to track workers’ dehydration risk from heatwaves — Financial Times -
• Taiwan weighs return to nuclear power amid AI surge and China fears — Financial Times -

• Trump’s attacks on renewables sector quash nearly $19bn worth of projects — Financial Times -

Cultural shifts were highlighted by concerns over the decline of reading and efforts in Denmark to boost literacy, alongside the return of classic movies to theaters and debates around corporate egg freezing policies.

• The lamentable decline of reading — Financial Times -
• Why ‘Black Swan,’ ‘Jaws’ and ‘Clue’ Are Coming Back to Theaters — The New York Times Business -
• Actor Noel Clarke fails in libel case against Guardian over sexual misconduct allegations — Financial Times -

• Corporate egg freezing won’t break the glass ceiling — Financial Times -
• Denmark Wants Kids to Read More. Will a Tax Cut Help? — The New York Times Business -
• If I can cake it there... New York’s icing frenzy — Financial Times -
• Chicago’s new casino is a gamble in more ways than one — Financial Times -
• The US tourism slump that never happened — Financial Times -
• Burst pipes and long queues: Macron plans €800mn Louvre makeover — Financial Times -

This section commemorates Stephanie Shirley, a pioneer for women in tech, and Sen Genshitsu, a grandmaster of the tea ceremony, while also covering the recall of radioactive frozen shrimp and the anniversary of Hurricane Katrina.

• Stephanie Shirley, Who Created a Tech World for Women, Dies at 91 — The New York Times Business -
• Sen Genshitsu, grandmaster of the tea ceremony, 1923-2025 — Financial Times -
• Recall of Frozen Shrimp Expands After Radioactive Contamination Warning — The New York Times Business -

• Remembering Hurricane Katrina — and why we need reminding — Financial Times -
• The Pentagon’s Mysterious X-37B Space Plane Embarks on New Mission — Wall Street Journal -
• South Africa’s ‘rhino baron’ accused of turning from breeder to smuggler — Financial Times -
• Indira Gandhi and the Years that Transformed India — democracy vs authoritarianism — Financial Times -