Manasse Lomachar, a 33‑year‑old goat herder in western Kenya, reported finding a gold nugget that he sold for about $280. His story led to a rapid influx of prospectors into the area around Cheporor. At its peak, roughly 10,000 people were working in makeshift mining sites, with about 2,500 remaining as activity slowed. The rush generated more than 200 small businesses selling food, water and other supplies to the new population. Local officials estimate that traders received an average of 100 people per day, though the value of the finds varies from a few hundred shillings to 78,000 shillings. Authorities have deployed public health teams and increased security patrols to address sanitation and safety concerns. The county commissioner, Samuel Kiarie, said two notable discoveries in early August appear to have triggered heightened interest, though the exact cause of the rush remains unclear. Experienced miners say alluvial gold has long been present in the seasonal riverbed, with small earnings of $8‑$23 per week. The rapid growth has strained local infrastructure, which lacks piped water and sanitation. Officials plan to encourage miners to leave the site when schools reopen in September and are working to provide organized support, including metal detectors, to improve safety and efficiency. Mugisha Godfrey, an artisanal miner from Uganda, traveled to the site and reported sleeping outdoors and working day and night while searching for gold. The situation highlights the economic opportunities and logistical challenges faced by artisanal miners in the region.
Macro signals, central banks, earnings, and the deals moving capital today.
Unifor, a Canadian labor union, announced on August 22 that it reached tentative agreements with General Motors covering about 4,600 members in Ontario. The agreements apply to the Oshawa Assembly Plant, the CAMI Assembly Plant in Ingersoll, and worksites in St. Catharines and Woodstock. Unifor National President Lana Payne said the deals provide strong income and benefit gains for the workers. The negotiations began earlier this month after the union ratified a three-year contract with Ford that included a 3% annual wage increase. Ratification meetings for the GM agreements are set for August 29 and 30.
U.S. President Donald Trump announced 50% tariffs on a range of Canadian imports after trade talks between the United States and Canada collapsed on Friday. Canadian Prime Minister Mark Carney called the tariffs a miscalculation and said Canada would respond dollar‑for‑dollar beginning September 8. The United States and Canada have a long‑standing trade relationship governed by the United States‑Mexico‑Canada Agreement, which accounts for about $1.6 trillion in annual commerce. Negotiations had been ongoing for more than a year and had been scheduled for a final agreement earlier in the week. Trump said Canada wanted “the benefits of a state without being one” and noted that U.S. farmers had faced tariffs for years. Carney said the new tariffs covered about $20 billion of imports, including steel, dairy, cement, clothing and hockey equipment, and that Canada would match the duties on steel, dairy, appliances and electronics. He added that the United States had presented terms he described as unacceptable, including limits on Canada’s ability to negotiate new trade deals. Ontario Premier Doug Ford said Trump could not be trusted. British Columbia Premier David Eby warned that the United States’ demand for restrictions on other trade deals would reduce Canada to an economic “51st state.” Conservative opposition leader Pierre Poilievre called the latest levies unjustified. Quebec Premier Christine Fréchette warned that jobs could be lost and pledged measures to support affected sectors. Alberta Premier Danielle Smith urged both sides to resume negotiations. The breakdown of the talks removes a clear path to resolve trade disputes, and Carney said the development was certainly not good news for the North American free trade pact.
Nvidia has notified some of its largest customers that the price of servers equipped with its AI chips will rise by more than 15% starting in early 2027, according to Bloomberg News.
The increase follows a rise in memory chip prices and reflects higher manufacturing costs for advanced AI processors. Nvidia's chips power much of the current data center expansion for technology firms such as Microsoft, Google, and Oracle.
The price adjustment applies to systems shipped from early 2027 and includes configurations featuring the upcoming Vera Rubin and Grace Blackwell chips, the report said, citing people familiar with the matter. The exact increase will vary based on chip generation and memory setup.
Microsoft, Google, and Oracle have communicated the upcoming changes to their customers, the report added. Nvidia declined to comment when contacted outside regular business hours, and Reuters could not immediately verify the report.
The development underscores growing cost pressures in the AI hardware market as companies scale up data center capacity. Nvidia is scheduled to report its second‑quarter earnings on August 26.
The Vatican has announced plans to construct an 80‑90 megawatt agrivoltaic solar plant at the Santa Maria di Galeria estate on Rome’s northwestern outskirts, with an estimated cost of roughly €100 million and a projected completion time of 18 to 24 months, according to sources involved in the discussions.
The Holy See, the world’s smallest country by area and population, would use the plant to power its radio transmission facilities and achieve energy self‑sufficiency; any surplus electricity would be supplied to Italy. The site, which has hosted Vatican Radio antennas since the 1950s, covers about 450 hectares and will allocate roughly 200 hectares for solar panel tracking, nearly half of the total area.
The agrivoltaic system will mount solar panels several metres above the ground, allowing crops to grow beneath them while reducing evaporation and protecting plants from extreme weather. The project aligns with a bilateral agreement between Italy and Vatican City that grants the Vatican Radio facilities tax exemptions and special status, and it reflects the climate priorities of Pope Francis, who endorsed the scientific consensus on climate change, and Pope Leo XIV, who has supported the initiative. Contracts for the work are expected to be tendered in the coming weeks, and the plant could meet all of the Holy See’s electricity demand once completed.
The timeline and cost remain subject to final approvals and tender outcomes, and the Vatican has not responded to requests for comment.
Prince Harry and six other claimants have been ordered to pay up to £34.5 million in legal costs to Associated Newspapers. The High Court judge, Justice Nicklin, set an initial payment of £9.54 million due by Friday of next week. The claimants, including Sir Elton John, Liz Hurley, Baroness Lawrence, Sadie Frost, Sir Simon Hughes and David Furnish, had insurance covering up to £16.2 million of the newspaper’s costs. They must file an appeal by 2 October. The judge dismissed the privacy claim on 7 July, saying the case was a rare example of a claim that was unreasonable to a high degree. He said the claimed costs were excessive and that none of the claimants had withdrawn any serious allegation. Associated Newspapers said the ruling was a critique of an attempt to damage its reputation and the reputations of its journalists. Dozens of witnesses, including journalists and former executives, gave evidence during the trial. The judge ordered costs to be assessed on an indemnity basis, which generally benefits the publisher. The legal costs hearing will continue as the publisher seeks to recover the amount it spent beyond the original £16 million cap.