US launched new wave of attacks on southern Iran prompting retaliatory Iranian strikes on bases in Bahrain, Jordan and Iraq in heaviest exchange of fire in over a month.
Vice President JD Vance said Federal Reserve should cut interest rates to make homes more affordable, adding to Trump pressure on central bank to cut borrowing costs.
Long lines became new norm at Miami Immigration Court after Trump immigration tactic known as "mega master" calendar hearings went into effect.
World
China's President Xi Jinping visited Egypt for the first time in a decade, illustrating China's growing ambitions as U.S. influence weakens from its war in Iran.
The United States carried out additional airstrikes against IRGC targets in Iran in response to attempted attacks on shipping and U.S. troops, killing five IRGC Aerospace Force members in Kermanshah.
Heads of 21 global powers gathered in Bishkek for the SCO summit as wars strain the global order, with China and Russia using the forum to project influence against the West.
Business
Vice President JD Vance said the Federal Reserve should cut interest rates to make homes more affordable, adding to the pressure President Donald Trump has placed on the central bank to cut borrowing costs.
Fed Chair Kevin Warsh hinted at the possibility of hiking rates days after Vance's comments, addressing persistently high inflation.
Market analysts estimate a 60-79% probability that the Fed will deliver a quarter-point rate hike at its upcoming FOMC meeting scheduled for September 15-16, 2026.
Technology
Nvidia acquired Hugging Face for $12.93 billion, its biggest acquisition ever, extending its reach from AI chips into the developer ecosystem.
Broadcom's AI-chip revenue surged 221 percent as demand for infrastructure to power AI models accelerates.
G20 countries endorsed U.S. AI policy principles at a Chapel Hill conference, signaling support for sector-specific regulation over universal rules.
Science
Carnegie Mellon scientists discovered an unexpected form of the Hall effect that overturns the assumption this electrical response only appears when a magnetic field points perpendicular to a material.
NASA scientists discovered a giant 10-sided atmospheric pattern around Saturn's south pole, giving the planet a counterpart to its famous northern hexagon.
Astronomers found that star formation across the universe has fallen dramatically over 4.5 billion years, yet the supply of neutral hydrogen needed for star creation has barely declined.
Economy
The Fed reported modest economic growth while expressing rising concern about the Iran war's impact on prices.
Jobless claims held steady but the trade deficit surged 24.4% in July to $88.6 billion, partly driven by rising technology imports for artificial intelligence buildout.
The 10-year Treasury yield hit 4.818%, a level not seen since November 2023, as markets debate whether the Federal Reserve will raise rates in September.
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