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Mornly

Friday, August 28, 2026

Top news

  • Country music legend Dolly Parton died Tuesday at age 80 following a brief battle with cancer.
  • President Trump signed an executive order Thursday to rename Lake Ontario to "Lake America" as the trade war between Canada and the U.S. escalates.
  • At least 1,500 people are missing, many of them foreign tourists, after deadly floods hit the Nepal-Tibet border, sweeping away entire villages.

World

  • A fire killed 14 newborns in a nursery at a major government hospital in Pakistan's capital early Wednesday morning.
  • A gang kidnapping in Haiti is believed to be one of the largest mass kidnappings in recent years, with one leader threatening to kill hostages if authorities kill any gang members.
  • President Trump called on world leaders to join an economic war against Iran and imposed 50% tariffs on Canadian goods after trade talks broke down.

Business

  • Nvidia has agreed to buy open-source AI startup Hugging Face for $12.9 billion, marking a major move in consolidating AI infrastructure.
  • Nvidia surpassed analyst forecasts in its latest earnings report, boosting investor confidence in the AI chipmaker and driving market sentiment.
  • Pernod Ricard reported a 3.9% year-on-year decline in full-year net sales, driven by weak demand in the U.S., signaling pressure on the beverage industry.

Technology

  • Nvidia agreed to buy Hugging Face, the public hub for open-source AI models, for nearly $13 billion, according to recent reports.
  • A Russian ransomware group used SpaceX's Cursor AI coding agent to break into at least seven companies, stealing credentials and mapping networks after Cursor's acquisition by SpaceX.
  • OpenAI's custom inference chip outperformed Nvidia's Blackwell systems on AI work per watt in benchmark tests, signaling a shift in AI hardware competition.

Science

  • Astronomers captured their clearest image of Betelgeuse's hidden companion star, potentially ending a roughly 100-year search for the long-suspected stellar partner.
  • Researchers discovered a brain-based mechanism that shuts down chronic nerve pain in mice by calming an overactive pain circuit.
  • Scientists created smart nanoparticles that illuminate hidden glioblastoma cells during surgery and destroy microscopic cancer left behind, achieving 100% survival in mice at 60 days.

Economy

  • Long-term Treasury yields climbed to their highest since 2007 on August 17, prompting Treasury to announce doubled buyback sizes on August 19.
  • Long-term bond yields rose to two-decade highs after July's FOMC meeting when Fed Chair Warsh offered little insight and avoided forward guidance on rates.
  • Fed Chair Kevin Warsh delivers his inaugural Jackson Hole keynote Friday amid inflation remaining above the 2% target and significant uncertainty about the September 16 FOMC meeting.

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