Markets edged higher despite looming U.S. government shutdown concerns, with tech stocks leading gains. The S&P 500 and Nasdaq posted modest rises as investors balanced shutdown risks against robust corporate earnings, while geopolitical developments around the Gaza peace plan influenced cautious sentiment.
Electronic Arts announces record $55 billion leveraged buyout, marking the largest private equity deal in gaming history, led by Saudi Arabia’s Public Investment Fund and Jared Kushner-backed investors.
55 billion – Record valuation for Electronic Arts leveraged buyout.
US government shutdown nears as Trump and Democratic leaders remain deadlocked, threatening to disrupt key economic data releases and federal services.
YouTube to pay $24.5 million settlement to Donald Trump over account suspension following the 2021 Capitol attack, closing one of the last major Big Tech lawsuits from Trump.
Jefferies Profit Soars 34% on Record Fees and Dealmaking Rebound
Jefferies posted a 34% jump in quarterly profits boosted by record advisory fees and a rebound in mergers and acquisitions dealmaking activity.
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Walmart’s CEO signals AI will radically transform every job in the company, highlighting a major shift in workforce roles due to automation and AI technology.
Charlie Javice, founder of fintech startup Frank, sentenced to seven years in prison for defrauding JPMorgan Chase in a $175 million acquisition fraud case.
MoonLake Stock Tanks 89% on Mixed Skin Disease Treatment Results
MoonLake Immunotherapeutics stock plummeted nearly 90% after releasing disappointing mid-stage trial results for its skin disease drug candidate.
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Trump unveils a 20-point plan to end the Gaza conflict, with Israeli Prime Minister Netanyahu expressing support; uncertainty remains if Hamas will accept terms.
Lufthansa announces plan to cut 4,000 jobs by 2030, aiming to boost profitability by leveraging AI and digital transformation across its operations.
California Governor Newsom signed SB 53, establishing new transparency requirements for large AI companies to enhance safety and accountability.
Jaguar Land Rover restarts partial production after a ransomware cyberattack, receiving a £1.5 billion UK government loan to stabilize operations and supply chains.
Trade Desk plans to launch Audience Unlimited platform targeting better ad reach; shares rally amid optimism for advertising tech expansion.
AI will literally change every job in this company—and the question is how we prepare for it.
— Doug McMillon, Walmart CEO
Federal Reserve officials cautious on rate cuts as inflation risks persist; latest statements underscore uncertainty about easing monetary policy soon.
Electronic Arts remains under pressure from S&P with potential credit downgrade amid its historic leveraged buyout deal; stock faces market skepticism.
Starbucks accelerates store closures in major U.S. markets, including Boston and Washington D.C., as part of cost-cutting and operational restructuring.
OpenAI enhances e-commerce by launching Instant Checkout in ChatGPT, enabling users to buy products directly, partnering with Etsy and Shopify, impacting online retail.
Federal agencies warn a looming U.S. shutdown could delay critical economic reports, including the key jobs data, complicating monitoring amid economic uncertainty.
The U.S. ramps up missile production amid China tensions, with a $5 billion contract awarded to Raytheon for the Coyote missile system, signaling military preparedness.
Federal officials report a significant subset of crypto investors stepping back as broader market volatility and macroeconomic challenges curb enthusiasm in August and September.
VC-backed AI startup Anthropic launches Claude Sonnet 4.5, claiming top coding AI status with improved autonomy and business task performance, intensifying AI competition.
Trade tensions escalate with the US government re-imposing Iran sanctions and threatening steep tariffs on foreign-made movies and furniture, further intensifying global trade disruptions.