The Global Economic News

OpenAI is holding its annual DevDay developer conference on Tuesday, where the artificial intelligence company announced a flurry of new products and features . This year's DevDay comes as OpenAI has been under intense pressure to address mounting safety concerns after it disclosed several incidents where its models behaved in unintended ways, and the startup held back its latest Astra model over safety concerns. Earlier this month, the company endorsed a call to slow down the pace of advanced AI model development in order to better address the technology's risks. Tune in at 3:15 p.m. ET as OpenAI CFO Sarah Friar joins CNBC TV to talk about AI safety and the company's latest announcements. Watch in real time on CNBC+ or the CNBC Pro stream. CNBC's reporters are covering the OpenAI DevDay event live from San Francisco, and remotely from Englewood Cliffs, New Jersey. Altman left the stage, which means this year's DevDay keynote has come to a close. The company sh...

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JPMorgan Chase boss Jamie Dimon is pitching his vision for the Western world's future and it hinges on Europe rebooting its sluggish economy and strengthening its defense capabilities. "I believe the U.S. should offer Europe a major inducement: If it executes meaningful economic and military reforms, including everything that we consider crucial for security and resiliency, the U.S. will negotiate one big, beautiful economic and free-trade agreement with Europe," Dimon wrote in an opinion piece in the Wall Street Journal published on Monday . "Many of the current disputes between Europe and the U.S. are minor compared with this agreement's size and benefits. This pact could be extended to friendly democracies including Canada, Mexico, Japan, South Korea, Australia and the Philippines," Dimon said. Seamless trade ties would be a "game changer" for the U.S. and its allies, allowing them to "set the global rules on trade" and binding them t...

Stocks making the biggest moves premarket: Fair Isaac, SpaceX, AMD & more Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Fair Isaac Shares plunged 18% after Federal Housing Finance Agency director Bill Pulte introduced changes to mortgage pricing. "We are Simplifying Mortgage Pricing following feedback from lenders and consumers. Instead of two separate pricing grids, which makes zero sense, Fannie and Freddie are hereby moving to ONE PRICING GRID with VantageScore joining the existing FICO Classic pricing grid," Pulte said in a post on X. AMD The chipmaker traded more than 1% higher after it acquired AI firm World Labs for $8.2 billion . Bloomin' Brands The parent of Outback Steakhouse jumped 5% following a JPMorgan upgrade to neutral from underweight. The bank pointed to several changes implemented by the company, including a new ste...

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The White House banned imports of some Canadian vehicles, dairy and alcohol products on Tuesday, as officials sent mixed signals on the prospect of a trade deal. The long list of impacted goods includes motorcycles and mopeds with petrol engines larger than 800cc, whey products and molasses , and a slew of alcoholic beverages mainly those packaged for direct consumption from beer and cider to wine, whiskey and vodka. The products are estimated to total around $19.9 billion of Canadian imports by the American Action Forum . The import ban, announced earlier this month by the Trump administration, is the latest step in a war of words and tit-for-tat tariffs between the U.S. and Canada. President Donald Trump said on Monday he expected a "fair deal" with Canada within the coming weeks, but continued to strike a combative tone. "They take advantage of us, they feel entitled ... there's nothing they have that we need," Trump told reporters in the Oval Office. "...

Image source, Destiny McGowan Image caption, Destiny McGowan is now earning money as a content creator By Megan Lawton Business reporter Published 29 September 2026, 00:10 BST Updated 3 hours ago As university courses go it may raise a few eyebrows, but Destiny McGowan has no doubt that hers was very useful. In July the 21-year-old graduated from Nottingham Trent University with a degree in content creation. As well as teaching how to best make videos and posts for Instagram, TikTok and YouTube, the course also focused on how to build audiences, engage with brands and monetise your content. "I always wanted to be an entrepreneur, so for me the course was about the transferable skills that I believed I would gain," says Destiny, pointing to both the social media and business aspects she was taught. It's early on in her career, and Destiny won't disclose precisely what she is earning, but says she's already making money. In addition to posting about fashion on her ...

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Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open. In the early days of the AI boom, companies were competing to see what their AI models could do. Now, they seem increasingly worried and are warning investors of what their models might be able to do. Nvidia has rolled out a software platform to prevent models from misbehaving, while OpenAI has abandoned the launch of its GPT-6.1 Astra model. That does not mean the AI boom is slowing. Samsung is investing $1 billion in an infrastructure company backed by Nvidia and KKR. In other words, the sector is still building, just with more guardrails. As reports of misbehaving AI models emerge, the company that mainly powers these models now has a solution: a platform that will allow AI developers to set safeguards for agents and prevent them from breaking out of containment. Nvidia 's Open Agent Safety Platform, launched on Monday, provides a containment system that only allows acces...

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There's still room for rotation into tech, Deutsche Bank says Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu The rotation into tech which started in late July still has room to run, Deutsche Bank said. Mega-cap growth and tech stocks are up 14% since the end of July to a record high, compared with the rest of the S & P 500 which is down 3% over the same period, according to a report led by Deutsche Bank strategist Parag Thatte. The relative outperformance of mega-cap growth and tech stocks has "risen to the upper half of its long-run trend channel but is not yet at the top," the analysts noted. Also, the positioning in megacap growth and tech has risen to about 0.8 standard deviation above neutral, "clearly overweight but well below prior peaks" in periods such as early June when it topped out in the 99th percentile, Deutsche Bank said. "Within single-stock options, volume in MCG...

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Image source, Bloomberg via Getty Images Image caption, About 90% of all Canadian alcohol exports were bound for the US in 2025, with most coming from Ontario By Nadine Yousif Senior Canada reporter Published 9 minutes ago A US ban on several Canadian imports, including alcohol, dairy and motorcycles, has come into effect as a trade war between the two neighbours drags on. The latest measure by the Trump administration is in response to Canada's implementation of tariffs on a range of US goods earlier this month following a breakdown in trade talks. Canada is not expected to retaliate further, with Prime Minister Mark Carney saying earlier this month that the impact the import bans will have on Canada's economy is "modest". Trade talks remain on ice, with US trade representative Jamieson Greer telling CNBC recently that President Donald Trump is "comfortable" with his current relationship with Canada. "They call us now and then and we have good convers...

Image source, Reuters Image caption, OpenAI chief executive Sam Altman By Osmond Chia Business reporter Published 29 September 2026, 02:18 BST Updated 50 minutes ago OpenAI will not release its new AI model - GPT-6.1 Astra - due to safety concerns, the ChatGPT-maker confirmed on Tuesday. The AI system - which performs tasks like browsing the web and using apps by itself - "didn't quite meet the bar" of the company's standards, Saachi Jain, head of safety systems at OpenAI, said. On Tuesday, OpenAI also issued an update on incidents - that occurred in June but were not made public until last week - in which its models accessed Australian government websites and systems without authorisation. Those incidents and similar breaches by models developed by major AI firms have in recent weeks intensified the debate around the risks posed by the technology. Top AI leaders including OpenAI's Sam Altman and Anthropic boss Dario Amodei have urged the industry to slow the pac...

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Image source, EPA Image caption, Chancellor John Healey By Faisal Islam , Economics editor and Dearbail Jordan , Business reporter Published 28 September 2026 The UK is in talks with US authorities over a potential stoppage of diesel exports and has started preparing for a ban, Chancellor John Healey has told BBC News. Diesel prices in the UK reached a new high on Monday due to supply pressures springing from the US-Israel conflict with Iran and Russia's war with Ukraine. Fuel prices are rising globally and US President Donald Trump has threatened to ban diesel exports, stating at the weekend: "We're thinking about it very seriously." Healey, who admitted that UK diesel prices are "extreme", said the government was in discussions with the US, adding: "We're also making the provision that we may need to and we have our own stocks in the UK." Speaking on the sidelines of the annual Labour Party Conference in Liverpool, Healey said: "We work...

To play this video you need to enable JavaScript in your browser. This video can not be played Figure caption, Aviva boss says it 'doesn't make sense' to be building homes in flood zones as risk increases By Rachel Clun , Business reporter and Sean Farrington , Business presenter Published 1 hour ago Homes are being built today that could become uninsurable in the future due to the risk of flooding, the boss of insurance giant Aviva has said. Amanda Blanc said the risk of flooding is "absolutely increasing", but based on current building patterns 115,000 new homes will be built in flood zones in the next decade. "That doesn't seem to me to make sense. We need to think about where those homes are being built," she told the BBC. About 6.3 million homes and businesses in England are at risk of flooding, according to the Environment Agency, and Aviva research found one in nine homes built between 2022 and 2024 are at medium to high risk of flooding. Bla...

Advanced Micro Devices said Monday that it's agreed to acquire World Labs, the San Francisco-based AI lab founded by industry pioneer Fei-Fei Li, for $8.2 billion. The chipmaker, which previously invested in World Labs, said it's paying for the startup in stock. Li was a Stanford professor who previously worked for Google and led AI research. She will become AMD's chief scientist and an executive vice president at AMD, which is chasing Nvidia in the market for AI processors. World Labs is developing a so-called world model, which can be used to simulate 3D environments. In a demo presented by Li and AMD CEO Lisa Su earlier this year , the two executives showed a World Labs model called Marble creating a 3D scene out of a few images. "Intelligent agents, whether it's robots or vehicles or even tools, can learn inside very rich physics-aware digital worlds before they even need to be deployed into the real one, making them much safer," Li said at the presentati...

Stocks making the biggest moves premarket: META, UAL, NVDA Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Meta Platforms The hyperscaler slipped 3% in premarket trading following an almost 13% gain last week amid a series of announcements related to its personal AI agent Muse. Meta's fall on Monday came as stocks related to the AI trade broadly sold off. Newmont The gold miner fell more than 4% as prices of the precious metal declined 3%. Higher global bond yields, including the 10-year U.S. Treasury note yield crossing 5.2%, are weakening demand for non-interest-bearing assets. Energy stocks U.S. oil prices were up more than 4% and above $96 per barrel, sending energy companies higher. Occidental Petroleum and ConocoPhillips were up 2% each Exxon Mobil and Chevron both were higher by 1.5%. Airlines Higher oil prices sent major airliners lower as in...