General Wire — 28 August 2026

Business

Sourced from Bloomberg’s Evening Briefing Americas.

Alphabet has lost roughly $692 billion in market value since its May peak, with shares down about 15% as investor sentiment sours on heavy AI infrastructure spending and a delayed Gemini model launch. The slide has made Alphabet a major drag on the S&P 500. — Bloomberg

Economics

Sourced from Bloomberg’s Businessweek Daily.

Canada’s current account surplus more than doubled economists’ expectations in the second quarter as crude oil exports hit a record, giving Ottawa a trade cushion just as its tariff dispute with the US intensifies. The cushion strengthens Canada’s hand in the standoff. — Bloomberg

Finance

Sourced from Bloomberg’s Banking Monitor.

AI-powered mortgage lenders are cutting loan-approval times to a fraction of the usual process, a shift expected to accelerate refinancing and cut off income streams for investors in the $9 trillion mortgage-bond market sooner than they had priced in. Only about a third of eligible homeowners currently refinance when rates fall, largely from friction that AI is now removing. — Bloomberg

Politics

Sourced from Bloomberg’s Evening Briefing Americas.

President Trump signed an executive order renaming Lake Ontario “Lake America” and his aides floated further bans on Canadian goods, as Canada responded by adding 50% tariffs on US copper wire, wood and charcoal. The escalation comes despite a growing backlash within Trump’s own party over the trade war’s economic and midterm risks. — Bloomberg · Bloomberg

Tech / AI

Sourced from Bloomberg’s Businessweek Daily.

Nvidia said quarterly sales more than doubled and forecast a further 89% jump to $108 billion this quarter, while disclosing $109 billion in loan guarantees — mostly for OpenAI’s Ohio data center — and up to $56 billion in promised data-center payments regardless of usage. Smaller customers accounted for 42% of the quarter’s revenue, more than double their share a year earlier. — Bloomberg