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Mornly

Monday, August 31, 2026

Top news

  • President Trump signed an order to rename Lake Ontario to "Lake America" in a trade dispute escalation with Canada.
  • Four days after catastrophic floods wiped out villages along the Nepal-China border, thousands are still missing.
  • The Trump administration plans to impose sanctions on another bank this week to clamp down on Iran transactions, Treasury Secretary Scott Bessent says.

World

  • Death toll from Nepal floods rose to nearly 800 as rescuers raced to reach trapped hydroelectric workers.
  • Nepali Army located the upper section of a tunnel at Upper Trishuli 3A Hydropower Project where dozens of people are feared trapped after Wednesday's devastating flood.
  • Over 900 hydropower workers are missing after Nepal-China flooding.

Business

  • U.S. military struck Iranian rocket launchers preparing to send mines into the Strait of Hormuz on Sunday, ending weeks of relative calm, and oil jumped 2% on the news.
  • Federal Reserve Chair Kevin Warsh made hawkish comments fueling bets on a rate hike next month, causing the dollar to hold gains.
  • Apple hiked subscription prices for Apple TV and Apple One in the U.S.

Technology

  • Nvidia agreed to buy Hugging Face, the public square of open-source models, for nearly $13 billion.
  • A federal judge ruled that the Defense Department unlawfully retaliated against Anthropic by designating it a supply-chain risk.
  • Nvidia paused cloud-financing deals that were supposed to keep smaller AI factories alive.

Science

  • Scientists created nanocrystals from tough metal nitrides that were previously extremely difficult to produce at this scale, solving a long-standing chemistry problem.
  • Researchers produced a form of spirulina containing biologically active vitamin B12 at levels comparable to beef by carefully controlling the light used to grow the algae.
  • CAR T-cell therapy dramatically reduced disease activity in six people with severe rheumatoid arthritis resistant to other treatments, with three achieving medication-free remission.

Economy

  • Annual inflation fell to 3.4% for the 12 months ending July, down from 3.5% in June, with energy costs moderating as oil-driven price pressures eased.
  • The Federal Reserve held interest rates steady at 3.5%-3.75% in July with three regional presidents dissenting for a rate hike, citing inflation above the 2% target for more than five years.
  • No Fed interest rate decision occurs in August; the next meeting is September 15-16, leaving employment data expected in early September as a key factor for the committee's next move.

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