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13 stories · Edition of 2026-08-26 · Curated by AI at Invalid Date

BUSINESS

Tesla Recalls Nearly Three Million Vehicles in China Over Hidden Door Handles

24h ago · Source: bbc

Tesla is recalling nearly three million vehicles in China because regulators said its hidden door handles may be difficult to identify and may fail to open after an electrical failure. The recall follows a Chinese regulation that will ban hidden door handles on new cars starting in 2027.

Hidden door handles have become common in modern electric vehicles because they reduce wind drag and give a sleek appearance, and about 60 percent of the top 100 new energy vehicles in China use them. Analysts say the design can be confusing to operate, especially in unfamiliar vehicles.

The State Administration for Market Regulation ordered Tesla and several Chinese manufacturers, including Xiaomi, XPeng and Geely, to add interior warning labels and to issue software updates that lower windows in a crash. The order also requires mechanical release mechanisms on both the inside and outside of doors. Engineers have criticized the measures, saying they do not provide a reliable mechanical way to open doors or allow rescuers to enter the vehicle.

The US National Highway Traffic Safety Administration is reviewing whether similar emergency exit requirements should be mandated in the United States, and European regulators have drafted standards to ensure door release functions without power. It is unclear whether other markets will adopt comparable recalls.

BUSINESS

Canada Announces Retaliatory Tariffs on U.S. Products, Deepening Trade Dispute

24h ago · Source: washingtonpost

Canada announced new tariffs of up to 50 percent on hundreds of American products on Tuesday, deepening a trade dispute that began after the United States imposed a 50 percent tariff on Canadian goods. The measures, which take effect on September 8, double the tariff on steel and aluminum to 50 percent and impose rates of 15 to 50 percent on about 700 additional items, including fish, milk, food products, plywood, plastics, aluminum foil, appliances, agricultural equipment, motorcycles and electronics. Prime Minister Mark Carney said the tariffs are intended to protect Canadian industry from U.S. levies and allow domestic producers to compete. Finance Minister François‑Philippe Champagne said the counter‑tariffs are designed to provide protection for sectors impacted by U.S. tariffs. The United States had previously imposed a 50 percent duty on roughly $20 billion of Canadian goods, covering whisky, dairy products, toys, clothing and hockey sticks. After negotiations in Washington failed to avert the duties, Carney pledged a reciprocal response. President Donald Trump posted on social media that Canada has been “ripping off” the United States for decades and suggested renaming Lake Ontario to Lake America, indicating strained relations. He also warned of further tariffs on Canadian cars, trucks, auto parts and steel to take effect on January 1. The new tariffs affect about 6 percent of U.S. exports to Canada, while the earlier U.S. tariffs covered 5 percent of the $382 billion in Canadian goods imported by the United States. The two economies remain each other’s top trading partners, exchanging more than $700 billion annually. Industry experts noted that the tariffs could pressure U.S. farmers, who rely on Canadian potash fertilizer for nearly 80 percent of their needs, and could raise energy costs in border states that depend on Canadian hydropower. Canadian officials said they would not accept any concessions that require giving up protections for key industries. The trade dispute has intensified since Trump’s administration pursued a broader effort to reduce reliance on global imports. Both the United States and Canada are better off without a deal that forces concessions on protected sectors, according to a trade attorney with the Coalition for a Prosperous America. The situation remains unresolved, with two weeks remaining before the tariffs become effective.

BUSINESS

Bitcoin Mining Companies Shift Toward AI Computing

24h ago · Source: bbc

Major Bitcoin mining firms announced they are converting parts of their data centers to support artificial intelligence, signing long‑term compute agreements with companies such as Anthropic.

The Ekibastuz mine, opened in 2020, exemplifies the shift. Mining firms invested heavily in high‑performance computers when Bitcoin prices rose, but rewards have declined since the price fell from a peak of about $124,000 in October 2025 to roughly $80,000 in August.

TerraWulf, Ionic Digital, Core Scientific, Iris Energy, Bitdeer, Riot Platforms and Hut 8 have redirected investment. Riot Platforms signed a $9 billion, 20‑year compute deal with Anthropic. Bitdeer announced a 16‑year agreement to supply compute for Anthropic, while its chief strategy officer said the firm will keep mining Bitcoin alongside AI workloads. TerraWulf has updated its website to describe its focus on AI and high‑performance computing, and Enegix, which opened a large mining site in Kazakhstan in 2020, is discussing AI partnerships and plans to transform a significant portion of its business.

Refitting mines for AI is costly; some firms have sold Bitcoin holdings to fund the transition. Industry analyst Wolfie Zhao of The Energy Mag said many miners expect to wind down Bitcoin hardware in the coming quarters, but the shift may reduce the security of the cryptocurrency if large miners withdraw. While some companies will maintain a dual‑purpose model, the long‑term viability of the pivot depends on sustained AI demand and the ability to finance the conversion.

BUSINESS

Accelerated Understanding Inc Co‑Founders Unveil AI Model Processing 5 Trillion Data Points

24h ago · Source: reuters

Accelerated Understanding Inc co‑founders Anima Anandkumar and Benedikt Jenik announced on August 23 that their AI model can process 5 trillion data points in a single prompt, a scale larger than most existing language models. The pair, who were previously considered to lead the Bezos‑backed Project Prometheus, said the system is designed for physics rather than text, using neural operator technology that Anandkumar helped develop while at Nvidia. In tests the model handled 5 trillion pieces of data, which the company said is roughly five million times the amount typical language models can ingest. The architecture abandons the transformer design used by ChatGPT and other text‑focused AIs and instead predicts physical phenomena across space and time. The founders said the model could support chip design, robotics, extreme weather prediction and energy exploration, allowing enterprises to run physics queries without creating custom math models. Accelerated Understanding has obtained hardware clusters from undisclosed computing providers and has not disclosed specific investment, but has a partnership with Nvidia, whose CEO Jensen Huang encouraged the effort. The founders declined to discuss financing details. In late 2024, investor Vik Bajaj, a co‑founder of Prometheus, discussed an offer letter that would have given Anandkumar a public role, board membership, a 35% equity stake and a combined salary of $1 million, later rising to $2 million. The proposal outlined more than $2 billion in committed financing through a Series B round that Bezos and other investors intended to fund. Anandkumar and Jenik chose to continue building independently while Bezos and Bajaj proceeded with a $12 billion Series B for Prometheus in June 2026. The new model represents a distinct approach in the expanding field of world models, and its impact on enterprise AI applications remains to be seen.

TOP STORY

Canada Announces Counter‑Tariffs Up to 50% on US Goods

Canada announced counter‑tariffs of up to 50% on nearly C$28 billion of U.S.

24h ago · Source: bbc · 1 min read

Canada announced counter‑tariffs of up to 50% on nearly C$28 billion of U.S. goods, effective September 8, in response to 50% U.S. tariffs on Canadian imports. The measures follow the collapse of trade negotiations between the United States and Canada that ended last week. The levy applies to about 900 products, including steel and aluminum, furniture, clothing, fresh tuna, cotton T‑shirts, natural honey, appliances, dairy, fish, seafood, tools, machinery and certain derivatives. Finance Minister François‑Philippe Champagne said the retaliation was proportionate and strategic. He added that the government will provide an additional C$7.5 billion in support programmes for businesses and workers affected by the tariffs. The United States released a statement saying it was prepared to offer Canada the most preferential market access of any country. President Trump wrote on Truth Social that Canada had 'ripped off' the United States and that he would consider raising tariffs on Canadian automobiles to 50% on January 1. Prime Minister Mark Carney said the proposal would destroy Canadian automobile, steel and aluminum sectors. Ontario Premier Doug Ford said recent exchanges were heated but expressed a desire for a good deal for both peoples. The escalation raises questions about the future of the United States‑Mexico‑Canada Agreement (USMCA). Mexico’s President Sheinbaum sent Economy Secretary Marcelo Ebrard to Washington for emergency talks after the Canada‑U.S. negotiations stalled. Canadian officials said they selected products that could be sourced elsewhere to limit domestic impact.

BUSINESS

China Recalls 4.3 Million Vehicles over Door‑Release Mechanism Concerns

24h ago · Source: reuters

China last week announced a recall of 4.3 million vehicles from nine automakers, including Tesla, Xiaomi and Leapmotor, to address concerns that interior emergency door‑release mechanisms may be difficult to locate in a power failure. The recall, the largest to date in China’s auto market, requires manufacturers to affix clearer labels to the door‑release devices and to deploy over‑the‑air software updates that lower windows in an emergency. China also announced in February that new models must include a traditional manual door‑opening mechanism, banning exterior electronic handles that have become common among electric vehicle makers. The action follows a broader shift in Chinese auto safety policy. The State Administration for Market Regulation has introduced rules requiring automakers to track the condition and repair history of all electric vehicles sold, and officials say the country is moving from rapid innovation toward a more stringent safety regulation phase. Analysts note that while U.S. and European regulators have historically led global auto safety standards, China’s large EV market and quicker rule implementation could reshape industry practices. A Gartner vice president said the trend reflects a more stringent safety regulation phase as manufacturers balance user experience with safety compliance. The U.S. National Highway Traffic Safety Administration declined to comment on the recall, saying the issue would be addressed through an ongoing rule‑making process. European regulators did not respond to inquiries. Advocacy group Center for Auto Safety said Chinese regulators have been able to enact vehicle safety rules more rapidly than their U.S. counterparts. Tesla has not responded to a request for comment. The recall may prompt global manufacturers to reconsider door‑handle designs, but it remains unclear whether U.S. or European authorities will adopt similar requirements.

BUSINESS

Canada Imposes Retaliatory Tariffs on $20 Billion of U.S. Goods, Unveils C$7.5 Billion Support Package

24h ago · Source: reuters

Canada announced Tuesday that it will impose retaliatory tariffs on about $20 billion of U.S. goods effective September 8. The measures include a C$7.5 billion support package for businesses and workers. The counter‑tariffs apply duties of 15%, 25% and 50% on roughly 700 products ranging from steel and aluminum to furniture, clothing and electronics. Canada said the tariffs represent nearly 4.5% of its imports from the United States and about 5% of its exports to the United States. The United States had earlier imposed 50% tariffs on $20 billion of Canadian imports after talks between the two countries collapsed on Saturday. Industry Minister Melanie Joly said the tariffs are intended to protect Canadian businesses and to apply political pressure before the November 3 midterm elections. Finance Minister François‑Philippe Champagne said the response, together with the support package, will protect workers, farmers, families and businesses. The Business Development Bank of Canada will provide interest‑free loans of C$2.5 million to C$5 million to affected firms, with repayments deferred for up to 36 months. Analysts noted that the U.S. tariffs affect roughly 5% of Canada’s exports but could have concentrated effects on sectors such as wood products and kitchen cabinet manufacturing. The White House and the U.S. Trade Representative have not responded to requests for comment. The situation remains unresolved as both countries continue to negotiate the broader trade relationship.

BUSINESS

Iran Trade Partners Include China, Turkey, Pakistan, Armenia amid US Sanctions

24h ago · Source: bbc

Iran says it is fully prepared for new U.S. sanctions it calls an “economic D‑Day.” The United States has described the measures as the single greatest financial offensive ever, aimed at ending the war between Israel and Iran. Economists say the impact may be limited.

Iran has faced continuous U.S. sanctions since the 1979 Islamic Revolution and has built trade relationships with countries that either ignore U.S. pressure or depend on Iranian exports. In 2025, China purchased 26.9% of Iran’s exports, according to the International Trade Centre, a joint agency of the United Nations and the World Trade Organization. The data cover the period before the recent U.S.–Israel conflict and rely largely on partner import reports because Iran’s own export statistics are outdated. Additional caveats include possible underreporting of oil sales, incomplete import data for Iraq, and ongoing fuel smuggling along Iran’s 900 km border with Pakistan.

China has opposed the sanctions, calling them illegal and unilateral, and said it will protect its interests. Turkey, another major partner, faces pressure from the United States to cease trade, but its economy, weakened by 31.8% inflation, makes a full break difficult. As the only NATO member bordering Iran, Turkey must balance alliance obligations with economic ties to its neighbor.

Pakistan, which also borders Iran, is a key export partner and a mediator in U.S.–Iran talks. Its top export destination is the United States, creating a dilemma if Washington imposes penalties. Smuggling along the remote border has increased, and Islamabad has struggled to enforce restrictions despite pressure from U.S. oil firms. The Iranian government did not respond to a BBC request for comment on alleged smuggling.

Armenia’s largest export partner is Russia, which accounts for 34.9% of its 2025 exports, despite Russian sanctions over its invasion of Ukraine. This suggests Armenia may continue trading with Iran despite U.S. pressure.

U.S. Treasury Secretary Scott Bessent said the sanctions would “tighten the noose and block every potential source of revenue.” Oxford Economics, however, estimated the direct effect on Iran’s revenues would be modest. Ali Vaez, deputy director of the International Crisis Group, noted that many Iranian activities are already subject to multiple sanctions layers and questioned whether the United States can enforce fines on trading partners. Former State Department advisor Aya Ibrahim warned that the sanctions could most affect ordinary people by limiting access to necessities.

Global markets reacted modestly. Oil prices fell after the announcement but remain far above pre‑war levels. Major stock indexes in the United States, Europe and Asia showed little movement.

The United States must convince economists, investors and trading nations that its sanctions threat is credible. The effectiveness of the measure remains uncertain.

BUSINESS

Billionaire Investor Stanley Druckenmiller Says Bessent's Bond-Yield Policies Pose Risks

24h ago · Source: guardian

Billionaire investor Stanley Druckenmiller said that Treasury Secretary Scott Bessent’s efforts to suppress U.S. bond yields are risky.

Bessent, confirmed as Treasury Secretary earlier this year, has sought to stabilize bond markets and lower borrowing costs amid heightened economic uncertainty.

Druckenmiller, who worked with Bessent at George Soros’s fund in the 1990s, stated that the administration should focus on cutting the budget deficit rather than trying to influence yields. He added that reducing the fiscal deficit would more effectively address the pressures on bond markets.

The Treasury Department declined to comment on Druckenmiller’s remarks, and the long‑term impact of the current bond‑yield strategy remains unresolved.

BUSINESS

Instagram Head Adam Mosseri Testifies as 29 States Pursue Meta Lawsuit Over Child Data and Addiction Claims

24h ago · Source: reuters

Instagram head Adam Mosseri testified before U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, as 29 U.S. states filed a lawsuit alleging that Meta designed its platforms to addict children and improperly collected data from minors, with potential civil penalties approaching $200 billion. The trial, which began on August 25, 2026, centers on claims that Meta violated federal law by gathering personal information from children under 13 and using design choices to increase teen engagement. Mosseri said the “Take a Break” feature, which prompts users to pause after a set period, was used by a low‑single‑digit percentage of teenagers before it became the default in September 2024. He noted that early testing indicated more than 90 % of teens who activated the feature continued to use it, but that most teenagers did not want the feature. Mosseri denied any knowledge of an internal policy to withhold safety data and said he wanted high‑quality, expert‑backed information to be public. Instagram product design director Francesco Fogu testified that a 2023 presentation showed teenage users were exposed to 1.5 times more bullying, suicide‑related, hate, nudity and violent content than adult users; he later said the figure appeared on a different slide. The states allege that Meta’s design contributed to anxiety, depression and suicide among minors, while Meta contends its research shows no clear link between social media use and mental‑health outcomes. The case may result in liability findings, civil penalties and required changes to Facebook and Instagram platforms. The judge will decide on liability and any penalties, and the outcome could set a precedent for how social media companies address child safety and data privacy.

BUSINESS

Nvidia Tests Growth with Rubin Chip Debut Amid AI Financing Scrutiny

24h ago · Source: reuters

Nvidia Corp. will report third‑quarter earnings on Wednesday, a test of whether its new Vera Rubin processors can sustain revenue growth as investors examine the company's large AI financing commitments. Analysts project sales to rise 82.8% year‑over‑year to $104.20 billion, the fastest growth rate in seven quarters, according to LSEG data.

The chipmaker has been a major beneficiary of the AI infrastructure build‑out, with data‑center spending projected to exceed $730 billion this year. Nvidia’s shares have gained 11.8% year to date but have lagged rivals such as Apple, and the company briefly fell behind Apple in market‑cap rankings last month.

The rollout of Rubin chips, expected to begin this autumn, is critical as Nvidia faces custom AI processors from Intel and AMD as well as in‑house chips from other technology firms. Morgan Stanley estimates Rubin could contribute nearly $9 billion in sales for the quarter ending October, while analysts expect gross margin to remain around 75% for the second and third quarters.

Scrutiny of AI spending has intensified after Nvidia helped arrange $500 billion in financing from six major U.S. banks for AI infrastructure projects and agreed to guarantee up to $105 billion for OpenAI’s 20‑year lease of a data‑center in Ohio. The guarantees have prompted questions about the sustainability of AI demand and whether they create circular financing. Brian Mulberry, chief market strategist at Zacks Investment Management, which holds Nvidia shares, said the risk is total AI exposure without diversification and that continued growth in AI tool adoption is essential for success. CEO Jensen Huang said the financing uses Nvidia’s cash reserves to support customers building data centers, power supplies and facilities that will house its chips for decades, and that the Ohio arrangement does not constitute circular financing because OpenAI will pay the lease.

The report and the speed of Rubin adoption will indicate whether Nvidia can maintain its growth trajectory amid growing competition and heightened scrutiny of its financing practices.

BUSINESS

Wall Street Journal Defends Use of AI in Op-Ed by Billionaire Investor

24h ago · Source: washingtonpost

The Wall Street Journal said it did not breach its standards after publishing an op-ed by billionaire investor Stanley Druckenmiller that was written with assistance from artificial intelligence.

Paul Gigot, the Journal’s editorial page editor, said AI is a common tool for writing, research, grammar and editing, and that the piece reflects Druckenmiller’s own argument. He noted the paper has had a long‑standing relationship with Druckenmiller and that no one doubts the op‑ed is his genuine opinion.

The op‑ed, published on Monday, criticized Treasury Secretary Scott Bessent’s interventions in the U.S. bond market. Shortly after publication, social media users and AI detection tools questioned whether the column was fully authored by Druckenmiller. NOTUS asked Druckenmiller about AI use, and he replied that he used AI to write the column.

Druckenmiller said he now uses AI for writing as he uses a calculator for mathematics and said he was not embarrassed by the method. The Journal did not disclose the AI assistance to readers when the piece appeared, nor did it add a later note after Druckenmiller confirmed the technology’s role.

The newsroom follows editorial standards separate from its news reporting. A company spokeswoman said the newsroom uses generative AI for investigations, summarizing articles and translation, and that AI‑generated content is reviewed by a journalist before publication. News Corp, the parent company, has a content partnership with OpenAI and uses Google Vertex AI, and it states it adheres to values of accuracy, accountability, originality, quality, transparency and respect for intellectual property.

Tech investor Jason Calacanis wrote on X that failing to disclose AI‑generated writing in the first sentence is unforgivable, arguing that readers should know if a piece was produced by a chatbot. Bloomberg podcaster Joe Weisenthal responded that the quality of writing matters more than whether it was AI‑generated, noting that high‑profile figures have long published op‑eds written by others without controversy.

Alex Mahadevan, who runs Poynter Institute’s MediaWise project, said the Journal is correct that AI is now part of everyday life, but using it to produce an entire opinion piece without clear disclosure conflicts with current AI ethics norms. He said the outlet should have disclosed the AI use because audiences want to know whether they are reading human writing or content generated by a chatbot, and he criticized the writing quality as insufficient.

The controversy underscores a broader debate about transparency and authorship in AI‑assisted journalism.

BUSINESS

U.S. Treasury Increases Bond Purchases to Lower Yields, Market Reaction Remains Unchanged

24h ago · Source: guardian

On August 24, Treasury Secretary Scott Bessent said the Treasury will accelerate purchases of Treasury bonds to raise their price and push yields lower. Treasury yields had been climbing to levels not seen in two decades, reflecting concerns about fiscal policy and interest rate outlook. The 10‑year Treasury yield fell briefly after the announcement but returned to its prior level by Friday afternoon, while the 30‑year yield remained near its highest point in 20 years. Bessent’s plan calls for large‑scale buying of bonds in the open market, a move intended to support prices and reduce the cost of borrowing for the government. Market participants said the intervention was insufficient to alter the upward trend in yields, and some analysts noted that broader fiscal expectations continue to dominate trading activity. Whether the Treasury’s bond‑buying strategy can sustain lower yields remains unclear as the administration continues to navigate fiscal policy discussions.