The Federal Trade Commission and 22 state attorneys general filed suit against Amazon on August 31, alleging it secretly overcharged more than 1.2 million advertisers by more than $20 billion since 2019 through a manipulated auction system.
Posted inMarkets
Broadcom AI Chip Revenue Triples to $16.7 Billion in Record Quarter
Broadcom’s fiscal Q3 revenue climbed 85 percent to $29.6 billion as AI semiconductor sales surged 221 percent year-on-year to $16.7 billion, driven by custom chip demand from six major cloud and AI customers.
Posted inEconomy
Bank of Canada Holds at 2.25% Amid Tariff Risk and Fragile Recovery
The Bank of Canada kept its benchmark rate at 2.25% for the seventh consecutive meeting on September 2, citing trade war uncertainty even as Q2 GDP expanded at an annualised 3.3 percent.
Posted inGeopolitics
Witkoff and Kushner Fly Moscow to Kyiv as Putin Pauses Strikes for 72 Hours
US envoys Steve Witkoff and Jared Kushner met Vladimir Putin at the Kremlin for more than three hours on Saturday before flying to Kyiv, where Putin had suspended aerial strikes under a reciprocal 72-hour arrangement.
Posted inWorld
AfD Takes 43.8% in Saxony-Anhalt, Germany Faces Coalition Deadlock
Germany’s far-right Alternative für Deutschland secured 43.8 percent in Saxony-Anhalt on Sunday, nearly doubling its 2021 vote and winning 38 of 41 constituencies while leaving the state without a viable coalition path.
Posted inTech
Sony and Warner Sue Anthropic Over Songs Used to Train Claude
Sony Music Publishing and Warner Chappell Music filed a federal copyright complaint against Anthropic on August 29, alleging the company pirated thousands of songs including tracks by Taylor Swift and The Beatles to train its Claude AI models.
Posted inMarkets
Stocks Slide as Blowout August Payrolls Push September Rate Hike Odds to 58%
The S&P 500 fell 0.38 percent to 7,718 on September 5 as August non-farm payrolls came in at 162,000 — nearly triple the consensus estimate — driving Treasury yields sharply higher and reversing a week of easing rate-hike bets.
Posted inEconomy
US August Services PMI Rises to 55.4, Adding Pressure on Federal Reserve
The ISM Services PMI climbed from 54.1 to 55.4 in August, beating forecasts and signalling resilient domestic demand that complicates the Federal Reserve’s case for holding interest rates steady in September.
Posted inGeopolitics
Saxony-Anhalt Votes as AfD Eyes Historic First State Win
Voters in the eastern German state of Saxony-Anhalt cast ballots today with the Alternative for Germany polling at 40 percent and within reach of an absolute majority that would make it the first far-right state government since 1945.
Posted inWorld
Myanmar’s Junta Chief Visits Vietnam in Third ASEAN Outreach
Min Aung Hlaing’s September 4 trip to Hanoi — his third ASEAN state visit — underscores the junta’s drive to reclaim regional legitimacy as bilateral trade has fallen by more than 60 percent since 2020.