General Wire — 31 August 2026

Business

Sourced from Bloomberg’s Markets Daily and Morning Briefing Asia.

Shein completed its IPO at a $26.5 billion valuation — about a quarter of its $100 billion 2022 peak — and the stock fell 17% in Hong Kong grey-market trading before its debut, after the fast-fashion firm swung from a $1 billion 2024 profit to an operating loss. — Bloomberg

John Ternus becomes Apple’s chief executive this week with artificial intelligence as his priority, while Tim Cook moves to executive chairman and keeps handling Trump and China; a foldable iPhone is expected next week. — Bloomberg

Economics

Sourced from The Economic Times and Bloomberg’s Markets Daily.

India’s economy grew 7.8% in the April-June quarter, matching the prior three months and beating an ET poll’s 7.3% and the RBI’s 7% projection, as consumption, exports and government capex offset the US-Iran war shock; manufacturing rose 9.2%. — The Economic Times

The three largest Treasury-curve moves of Kevin Warsh’s term as Fed chair have all followed his appearances, and after his Jackson Hole speech swaps traders now price a September rate hike as more likely than not. — Bloomberg · Bloomberg

Scott Bessent takes a US “growth agenda” to the G20 finance ministers’ meeting in Asheville, North Carolina, and plans to press members to rethink their China trade terms, after allies shrugged off his earlier Iran-sanctions threat. — Bloomberg

Finance

Sourced from Bloomberg’s Markets Daily and Evening Briefing Asia.

South Korea’s leveraged single-stock ETF boom has collapsed: turnover on 2x Samsung and SK Hynix products fell to 4% of the June peak after a rule requiring five days of simulated trading, and combined assets shrank to $5 billion from $11.4 billion. — Bloomberg

Global crop prices posted their biggest monthly gain since 2012 as wars and extreme weather disrupted supplies, reviving concerns about food inflation. — Bloomberg

The yen slid past 160 to the dollar, putting traders on intervention watch a month after Japan spent a record $96.4 billion defending it, with swaps now pricing a roughly 90% chance of a September BOJ rate hike. — Bloomberg

Politics

Sourced from Bloomberg’s Morning Briefing Americas and The Economist’s World in Brief.

The US and Iran exchanged fire for the first time in about a month — US strikes on Larak Island, Iranian missiles and drones at bases in Jordan and the UAE — and Republican strategists fear the unpopular war could hurt the party in November’s midterms. — Bloomberg · Bloomberg

Iceland voted 52.8% to 47.2% against reopening EU accession talks, siding with a fishing industry opposed to opening its waters; the prime minister said membership is off the political agenda for the rest of her term. — The Economist

Venezuela’s opposition attacked the government’s deal handing Washington majority control of the country’s oil, warning that “the same people who destroyed the country” would manage up to $209 billion in projected annual revenue. — Bloomberg · The Economist

Tech / AI

Sourced from Bloomberg’s Tech In Depth.

A federal judge struck down the Pentagon’s designation of Anthropic as a supply-chain risk, ruling the blacklist unlawful and a retaliation for the AI company’s criticism of the government; an appeal is expected. — Bloomberg

Chinese memory-chip maker CXMT’s first-half revenue jumped almost tenfold to $22.4 billion as AI demand surged, ranking it among China’s most valuable chip companies even as it sues the US over its own blacklisting. — Bloomberg

OpenAI is ending its partnership with the AI coding tool Cursor after Cursor’s acquisition by Elon Musk’s SpaceX, turning the two companies into rivals. — Bloomberg